COMPILED FROM MEDIA REPORTS
LOCKHART — Pure Castings Co., an Austin-based metal foundry, appears poised to relocate to Caldwell County with a promise of 75 jobs earning an average salary of about $32,000.
On Friday, the city council approved an economic development deal that includes the sale of nine acres in the city’s industrial park at a below-market price, Lockhart Economic Development Corp. director Sandra Mauldin told the Lockhart Post-Register. Terms of the real estate transaction were not immediately available.
The council also agreed to waive construction permit and impact fees; rebate 50 percent of property tax revenue for five years; and extend other unspecified funding to help pay for infrastructure the prospective employer needs to begin operations.
For the five-year term of the property tax break, the company has agreed to maintain at least 75 positions with an aggregate annual payroll of about $2.4 million, the newspaper reported.
If the arrangement sticks, Pure Castings Co. will leave the east Austin facility it has occupied since it opened in 1968.
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