Gov. Rick Perry announced that National Instruments will expand its research and development capacity in Austin, creating 1,000 jobs and $80 million in capital investment. The state is providing $4.4 million through the Texas Enterprise Fund (TEF) to close the deal on this expansion and job creation. Execution of the state's agreement is contingent upon finalization of a local incentive package.
"Central Texas' flourishing high tech industry is further strengthened by National Instruments' expansion, which will create 1,000 technical and engineering jobs and bolster Austin's status as a hub for research, development and innovation," Gov. Perry said. "Texas' continued focus on STEM education is a natural fit, and will ensure the Lone Star State continues to provide the capable workforce necessary for high tech employers like National Instruments to thrive."
National Instruments designs and manufactures electronic measurement hardware and software, with operations throughout the U.S., Canada and 45 other countries. This facility will expand the company's research and development activities, and will require the hiring of additional engineers and technology specialists to keep National Instruments competitive in the test and measurements and embedded systems industry. The project will include developing a 300,000 square foot facility located adjacent to the company's current site in North Austin.
"National Instruments was founded in Austin over 35 years ago and has grown to a global company, supplying tools to scientists and engineers around the world to accelerate productivity, innovation, and discovery," National Instruments Chief Operating Officer Alex Davern said. "The business friendly climate in Texas, along with our commitment of intense investment in research and development, is helping drive long-term job growth and economic development in Central Texas."
"We welcome the 1,000 new jobs this expansion will bring," Sen. Kirk Watson said. "Austin is a special place, and it continues to attract employers from around the world and opportunities for people who are here. Nevertheless, we're in a competition with other cities and regions for these kinds of jobs. It speaks well of Austin that National Instruments has chosen to stay here and to grow here."
"I am extremely pleased to welcome the expansion of National Instruments in Austin," Rep. Elliot Naishtat said. "High tech industries have contributed significantly to Austin's vibrant economy, and this expansion is a recognition of Austin's highly skilled workforce."
The Legislature created the TEF in 2003 and has re-appropriated funding in every legislative session since then to help ensure the growth of Texas businesses and create more jobs throughout the state. TEF projects must be approved by the governor, lieutenant governor and speaker of the House. The fund has since become one of the state's most competitive tools to recruit and bolster business. To date, the TEF has invested more than $497.8 million and closed the deal on projects generating more than 67,300 new jobs and more than $18.7 billion in capital investment in the state.
For more information about the TEF, please visit http://www.texaswideopenforbusiness.com/incentives-financing/tef.php or http://www.governor.state.tx.us.