Cedar Park 'ion' Voltabox incentives with jobs, facilityCedar Park 'ion' Voltabox incentives with jobs, facilityhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=31662014-09-08T14:58:00Z2014-09-08T00:00:00Z

CEDAR PARK - The Cedar Park City Council has approved two economic incentive agreements for a manufacturer of high-tech lithium ion battery systems.

Voltabox of Texas plans to build a $6 million 22,000-sf facility in the Scottsdale Crossing industrial park east of Toll 183A, and will maintain at least ten new skilled jobs for five years. In return the company will be reimbursed 50 percent of its city property taxes for up to five years.

The City of Cedar Park will also reimburse the company up to $147,908 after the firm builds a road between Toll 183A and Scottsdale Dr., said Larry Holt, assistant director of economic development.

Cedar Park City Council has also approved expanding the Scottsdale Crossing reinvestment zone to include the Voltabox site.

Voltabox hopes to have its Scottsdale Crossing headquarters finished by March 2015, according to Paul Malone, vice president of marketing and sales.

Voltabox of Texas currently has 13 employees and hopes to increase its employment to 35 by late 2015, said Chief Operating Officer Rick Herndon. The company also plans to expand its Cedar Park facility in time to introduce new energy products that are currently being developed at the firm’s Germany location.

Voltabox custom-builds and safety-tests lithium ion battery systems for business and municipal transportation vehicles that include hybrid or fully electric-powered engines.

Community Impact Newspaper
Austin-Round Rock
http://impactnews.com/austin-metro/leander-cedar-park/city-council-oks-voltabox-incentives/Read more at {Source}

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