Council approves agreement for relocation of Ametrine, Inc.
The Round Rock City Council approved Jan. 14 an economic development agreement with a nano-technology manufacturer to relocate to Round Rock, invest $8.7 million and create nearly 150 jobs.
“We started the search for our new U.S. headquarters almost a year ago,” said Brandon Cates, Ametrine’s CEO. “We compared 13 cities in five states using 12 evaluation criteria and came to the conclusion that Round Rock would be the best fit for the future of our business. Round Rock has been very forward-thinking when it comes to supporting the defense industry, and we anticipate future collaboration with the City, the Chamber, and the other innovative companies that Round Rock attracts.”
Founded in 2011, Ametrine, Inc. is a manufacturer of unique, advanced multispectral camouflage systems with current U.S. operations and headquarters in Rockville, Md. Ametrine produces patented nano-technology materials and is consistently awarded research and development projects through the U.S. Department of Defense.
“We are thrilled to welcome Ametrine, Inc. to the community,” Mayor Craig Morgan said. “Round Rock continues to be attractive for relocating businesses due to our pro-business attitude and family-friendly environment. We are also a strategic location for defense industry companies and hope to continue to grow the presence of this industry cluster.”
The agreement requires Ametrine to invest a minimum of $3 million in real property improvements as well as $5.7 million in business personal property into a leased facility within the Round Rock city limits and create 147 primary jobs over 10 years.
In consideration for Ametrine meeting the investment and hiring requirements, the Round Rock Transportation and Economic Development Corporation will make economic incentive payments totaling $345,000. The agreement is performance-based and does include clawback provisions should Ametrine not fulfill its contractual obligations.
Ametrine will lease an approximately 40,000 square foot facility at Settlers Crossing located at 900 E. Old Settlers Blvd. The new jobs will earn an average wage of approximately $75,000 with roles consisting of production, engineering, management and administration components. The company plans to be operational in Round Rock in 2021.
“The defense industry presents an exciting opportunity for bringing new, innovation-based business and jobs to Round Rock,” said Jason Ball, Round Rock Chamber’s president and CEO. “We congratulate and thank Ametrine for making this investment in Round Rock and will aggressively seek to recruit more companies like them to the area.”
The Round Rock Transportation and Economic Development Corporation is authorized by Chapter 505 of the Local Government Code. The Type B Corporation is a seven-member board that promotes economic development in the City of Round Rock through transportation projects and other projects as allowed by state law. One-half cent of City sales tax goes directly to the Type B Corporation to fund economic development projects in the City.
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Source: City of Round Rock