AUSTIN | Economic Development

[LiveattheOasis]

Originally Posted by kingkirbythe....

Tax breaks could top $100 million for proposed $2 billion Applied Materials facility in Hutto

https://www.statesman.com/story/busi...bs/7634245001/

Applied Materials could be in line for more than $100 million in tax breaks for a proposed $2 billion research and development facility the technology company is considering building in Hutto.

An incentive agreement with the Hutto Independent School District could save Applied Materials nearly $38 million in property taxes over 10 years, according to documents filed with the Texas comptrollers office.

With the city of Hutto already considering an incentives agreement worth up to $80 million, that would put the proposed local tax breaks at about $118 million if those deals are finalized and Applied Materials chooses Hutto as the site for the project.

Applied Materials is also in discussions for a possible incentives deal with Williamson County and plans to file an application for a grant from the state-operated Texas Enterprise Fund, according to the documents filed with the comptroller's office.

Samsung is coming. That’s much too much on the incentive side. They’ll come anyway. For 525 jobs that’s insane.

[kingkirbythe....]

California investment firm spending $22 million to buy Texas medical marijuana cultivation site

Texas Original announced plans to build the $8 million production site last August.

https://www.sacurrent.com/cannabis/c...-site-29186589

A real estate investment firm focused on the cannabis industry is spending $22 million to buy a processing site from Texas Original Compassionate Cultivation, one of three providers licensed under Texas' medial marijuana program.

San Diego-based IIP, a publicly traded real estate investment trust, said it's closed a deal to spend $12 million on Texas Original's land near the Central Texas town of Bastrop. IIP will pony up another $10 million once the Austin-based firm finishes building out its cultivation and production facility there.

Texas Original, which announced plans for the $8 million production site last August, will lease the property back from IIP. It began developing the 100,000-square-foot facility to keep up with demand, officials said at the time.

Since its formation, IIP has acquired 111 facilities in 19 states, according to a company statement.

[We vs us]

More film industry action:

New owners to take longtime film studio east of Austin to another level

With Austin's film industry in the midst of perhaps its biggest boom ever, one of the region's largest and oldest suburban studios is under new management, with ambitious plans to expand into a full-scale entertainment and movie production venue.

Back in February, Spark River Entertainment LLC, a conglomerate of industry veterans and investors, took over the lease at Spiderwood Studios 969 in Elgin. While a master plan is still being finalized, the company hopes to start by the end of the summer on building out the 152-acre site east of Austin as a "true entertainment destination," with additional high-tech studio space, an amphitheater and eventually apartments and a hotel.

https://www.bizjournals.com/austin/n...rtainment.html

[freerover]

Originally Posted by We vs us

More film industry action:




https://www.bizjournals.com/austin/n...rtainment.html

I've shot at Spiderwood a lot. Great for what you need but it's too remote to handle auto traffic from an Amphitheater unless it's really small. We'll end up with another COTA where the county and state have to spend hundreds of millions on area roads and highways. I don't believe TxDot is looking to convert FM 969 into a highway but that's how you get highways. Put the amphitheater in downtown Bastrop.

[We vs us]

Originally Posted by freerover

I've shot at Spiderwood a lot. Great for what you need but it's too remote to handle auto traffic from an Amphitheater unless it's really small. We'll end up with another COTA where the county and state have to spend hundreds of millions on area roads and highways. I don't believe TxDot is looking to convert FM 969 into a highway but that's how you get highways. Put the amphitheater in downtown Bastrop.

The interview portions of the article with the new owners has a weird tone to it (IMO) -- they don't really seem like hard-nosed business types, and have a lot of broad, not-too-specific dreams about the place. I'm not sure how much credence to put towards this one in the end. And that detail (limited accessibility) feels in line with those dreamy dreams.

But it's interesting that all this film buzz is starting to stimulate the old warhorses of our scene as much as the new guys.

[LiveattheOasis]

This seems that everyone knows Netflix is coming.

[freerover]

Originally Posted by We vs us

The interview portions of the article with the new owners has a weird tone to it (IMO) -- they don't really seem like hard-nosed business types, and have a lot of broad, not-too-specific dreams about the place. I'm not sure how much credence to put towards this one in the end. And that detail (limited accessibility) feels in line with those dreamy dreams.

But it's interesting that all this film buzz is starting to stimulate the old warhorses of our scene as much as the new guys.

Same exact feeling I got from the movie studio guys in San Marcos. Dude was a church editor. Not sure what the explanation is aside from a conspiracy being driven by someone like Netflix to get these approved without the public finding out it's them and pushing for insane concessions.

More likely scenario is there is a lot of money floating around and a lot of risk people are willing to take on. It's also possible that some people know stuff we don't about what the GOP is willing to do with film incentives. We could fill these studios but not with the incentives where they currently are unless it is a movie studio behind all the construction. I just don't know why Netflix wouldn't want to consolidate studios at 1 massive location unless it's about also having a variety of natural surroundings at different locations. idk. real weird.

[enragedcamel]

Hate to bring politics into this thread, but Texas just banned all abortions along with multiple other states, and I've been hearing a ton of chatter in my social circle from women who are saying they are planning to move to blue states. And two couples I know who were mulling over the idea of moving here said they no longer are.

I wonder how this will affect our economic development.

[freerover]

Originally Posted by enragedcamel

Hate to bring politics into this thread, but Texas just banned all abortions along with multiple other states, and I've been hearing a ton of chatter in my social circle from women who are saying they are planning to move to blue states. And two couples I know who were mulling over the idea of moving here said they no longer are.

I wonder how this will affect our economic development.

Let's hope it hurts.

[paul78701]

Originally Posted by enragedcamel

Hate to bring politics into this thread, but Texas just banned all abortions along with multiple other states, and I've been hearing a ton of chatter in my social circle from women who are saying they are planning to move to blue states. And two couples I know who were mulling over the idea of moving here said they no longer are.

I wonder how this will affect our economic development.

Moving out of Texas (or not moving to Texas) are the worst things they can do. This is a pivotal state. Doing such things will give the other side more control over it and thus give up the fight here. Make no mistake, they plan to make it national law should they get complete control over the three federal branches. Leaving (or not moving here) makes that more likely to happen, not less.

[wwmiv]

Originally Posted by paul78701

Moving out of Texas (or not moving to Texas) are the worst things they can do. This is a pivotal state. Doing such things will give the other side more control over it and thus give up the fight here. Make no mistake, they plan to make it national law should they get complete control over the three federal branches. Leaving (or not moving here) makes that more likely to happen, not less.

I don’t think Tesla’s choice matters at all vis-a-vis the longstanding Republican desire to outlaw abortion federally.

[paul78701]

Originally Posted by wwmiv

I don’t think Tesla’s choice matters at all vis-a-vis the longstanding Republican desire to outlaw abortion federally.

I mistakenly included the entirety of enragedcamel's quote (I meant to axe his last sentence). My comment wasn't referring to any company. My comment was referring to individuals thinking that leaving the state (essentially ceding political/voting power to the other side) will help their cause. It won't help, it is more likely to do the opposite.

[k1052]

Originally Posted by paul78701

Moving out of Texas (or not moving to Texas) are the worst things they can do. This is a pivotal state. Doing such things will give the other side more control over it and thus give up the fight here. Make no mistake, they plan to make it national law should they get complete control over the three federal branches. Leaving (or not moving here) makes that more likely to happen, not less.

I strongly dislike the frame that vulnerable people should be morally obligated to stay or move to a state that will put them at ever increasing risk and just hope the larger Texas electorate does the right thing for once in 2024 (a rather dubious prospect). At this point I don't know anybody who isn't at least talking about leaving and others (like myself) are already in process.

[chinchaaa]

Originally Posted by k1052

I strongly dislike the frame that vulnerable people should be morally obligated to stay or move to a state that will put them at ever increasing risk and just hope the larger Texas electorate does the right thing for once in 2024 (a rather dubious prospect). At this point I don't know anybody who isn't at least talking about leaving and others (like myself) are already in process.

Right? Why should people have to sacrifice for this state? If they continue on this path and overturn the gay marriage ruling, I really believe Texas will suffer the co sequences economically.

[JoninATX]

We'll see how it plays out.

[JoninATX]

Originally Posted by k1052

I strongly dislike the frame that vulnerable people should be morally obligated to stay or move to a state that will put them at ever increasing risk and just hope the larger Texas electorate does the right thing for once in 2024 (a rather dubious prospect). At this point I don't know anybody who isn't at least talking about leaving and others (like myself) are already in process.

Already in the process of leaving as well. Not because of abortion. I need a fresh new start somewhere.

[paul78701]

Originally Posted by k1052

I strongly dislike the frame that vulnerable people should be morally obligated to stay or move to a state that will put them at ever increasing risk and just hope the larger Texas electorate does the right thing for once in 2024 (a rather dubious prospect). At this point I don't know anybody who isn't at least talking about leaving and others (like myself) are already in process.

You are reading WAY too much into what I said. (It's highly annoying when people on this site do that.) I am not at all saying that vulnerable people (or anyone) should feel obligated to stay. That is not what I'm saying AT ALL. I'm saying that if they think that leaving the state will help the cause for reproductive rights, it won't. That's it. Nothing else. Don't read any more into it.

[ATXboom]

Originally Posted by paul78701

You are reading WAY too much into what I said. (It's highly annoying when people on this site do that.) I am not at all saying that vulnerable people (or anyone) should feel obligated to stay. That is not what I'm saying AT ALL. I'm saying that if they think that leaving the state will help the cause for reproductive rights, it won't. That's it. Nothing else. Don't read any more into it.

Jump out 10-20 years in the future… states having more power to legalize weed, abortion, gay marriage or not. The US will look more like Europe. Progressive states and conservative states. The further polarization of America will manifest via states and populations with means will go where their morals are supported.

It’s just a matter of time till gay marriage is outlawed here. Once that happens we will be relocating our business.

[paul78701]

Originally Posted by ATXboom

Jump out 10-20 years in the future… states having more power to legalize weed, abortion, gay marriage or not. The US will look more like Europe. Progressive states and conservative states. The further polarization of America will manifest via states and populations with means will go where their morals are supported.

It’s just a matter of time till gay marriage is outlawed here. Once that happens we will be relocating our business.

I think it's too early to say that will happen. Let's hope that it doesn't. People need to get out and vote. If these most recent events don't motivate them, I don't know what will.

[clubtokyo]

Seeing lots of chatter on Austin Reddit about relocating after the scotus ruling. Doesn't look good for Austin’s future growth.