Austin, TX - The City’s Economic Development Department today announced an economic development incentive proposal that would result in 607 new full-time jobs and a capital investment of $7.75 million. The proposal is estimated to bring a net fiscal benefit to the City of Austin of $1.67 million.
Athenahealth, Inc., a provider of cloud-based health information technology services, is proposing to establish an R&D center in the Seaholm Power Plant Development District, 800 block of West Cesar Chavez. This expansion would create at least 607 jobs over the next 10 years, with average salary wages across all positions of $132,085 a year.
“We’re pleased that athenahealth is considering an expansion in the Seaholm District,” said Kevin Johns, Director of the City’s Economic Development Department whose department is helping bring the redevelopment of the district to fruition. “Athenahealth would serve as a great return on investment to this multi-modal, mixed-use hub.”
Athenahealth, Inc. is a publicly traded company headquartered in Watertown, Massachusetts with 1 international and 5 U.S. locations with approximately 2,850 employees. (Ticker Symbol: ATHN) The company currently employs 36 individuals in Austin at their offices in the Domain. The City’s proposal includes a performance-based grant over a 10-year period, for a total incentive estimated at $679,500.
A presentation on the proposal will be provided to the Austin City Council at the regularly scheduled Austin City Council meeting on January 23 at Austin City Hall. Council consideration on the proposal will occur at the regularly scheduled Austin City Council meeting on January 30.
For more information on the economic development proposal and to submit online comments, visit the Economic Development Department website at www.austintexas.gov/ed.