Odyssey Technical Solutions expands in Round Rock
Odyssey Technical Solutions, a leading repairer of radio frequency, microwave and direct current equipment primarily used in the semiconductor manufacturing industry, will be expanding in Round Rock with a new 32,000 square foot facility.
“I am extremely pleased to announce our commitment to building our headquarters and technology center here in Round Rock.” said Jim Plourde, president. “It was a pleasure to work with the Round Rock Chamber to identify our ongoing role in the business growth of the city. We truly appreciate the welcoming business environment and investment made by the City of Round Rock to make this happen. We are eager to move through the next steps of this project and look forward to moving into Odyssey’s new company home.”
The City Council approved on Tuesday, Nov. 24, economic incentives predicated on the company relocating on 2.7 acres inside the City, investing in a new facility and achieving a specific number of employees. In return, the City will make two economic program payments to the company, the first of $55,000 when it completes its facility and the second, up to $55,000, depending on the number of employees added. There will also be property tax abatements of 100 percent in the first two years of the agreement, 75 percent in the third year, and 50 percent in the fourth year.
Currently located in the Round Rock extraterritorial jurisdiction (ETJ), Odyssey has purchased land and recently broke ground on a facility within the Round Rock city limits. The new company headquarters will be located at the Altman Business Park, an upscale business park in the heart of Round Rock’s fastest-growing commercial area, off North Mays Street.
“Odyssey Technical Solutions is a unique and valuable company that we have always considered to be part of our Round Rock business community, but we are excited for them to expand into the city limits when they could have chosen to go elsewhere,” Mayor Alan McGraw said. “This project is just another example of the quality growth we are seeing in Round Rock and the value of the partnership between the city, chamber, and our businesses.”
Odyssey is investing $5.4 million in land, building, and personal property and they will move all 54 of their current employees to the new location. Odyssey will be located at 2000 Steam Way and is scheduled to make the transition in May 2016.
“Altman Development Group (ADG) worked very closely with Odyssey to provide a true build-to-suit world headquarters based on ADG’s fifty-five years of manufacturing knowledge,” said Mitch Altman, president of Altman Development Group. “ADG and Odyssey worked countless hours to complete their specific plan before a dollar changed hands. ADG is truly honored to have the confidence of Odyssey to build their new world headquarters.”
Odyssey Technical Solutions was opened in 2000 by Air Force veteran Plourde and Eric Nail. They have completed more than 30,000 repairs in their 15 years in business and have grown from their initial 1,500-square-foot building.
“We have been working with Odyssey Technical Solutions for several years and are very happy that they have decided to expand in Round Rock,” said Ben White, the Chamber’s vice president of economic development. “This is a prime example of our business expansion efforts directly producing an increase in economic growth for our community.”
Source: City of Round Rock