Incentives sweeten National Instruments agreements

AUSTIN – The City of Austin and Travis County approved economic development agreements with National Instruments Corp. (NI) in exchange for creating 1,000 new jobs and expanding its Northwest Austin-based headquarters.

NI plans to construct a 300,000-sf facility at 11500 N. MoPac for office space and research and development.

Through the city’s deal, NI will receive $1.7 million over ten years, and the company agreed to pay all construction workers and full-time employees at least $11 per hour. The county’s deal would offer the company grants equivalent of up to 43 percent of the company’s property taxes over ten years.

The deals are expected to have a $7.6 million net benefit to the city and $3.9 million net benefit to the county.

See NI’s employment story at NewsTalk Texas.