Last week, we shared a story about eBay and their subsidiaries bringing 1,000 jobs or more to the Austin area. In our original coverage, we indicated that the City of Austin was prepared to offer $1.2 million in incentives to the company. A story in today’s Austin American-Statesman announced that Governor Rick Perry’s office plans to add $2.8 million to the incentive. The money will come from the Texas Enterprise Fund. The Texas Enterprise Fund provides incentive money to companies who are considering relocating to our state, as long as they meet specified thresholds for hiring and/or other financial measurements.
The total incentive package of $4.0 million comes with a certain set of expectations. eBay must create at least 1,000 jobs in Austin in the next 10 years. In addition, the company must must make $430,000 in leasehold improvements and make purchases of business personal property of at least $4.5 million.
Today’s story includes additional specifics about the types of jobs eBay plans to bring to the area. PayPal, a subsidiary of eBay, already employs roughly 250 employees. eBay intends to hire at least 50 more jobs by the end of this year with an average yearly salary of $107,000.