CEDAR PARK, Texas (KXAN) — A $50 million capital investment approved by the Cedar Park City Council on Nov. 18 will create 1,000 jobs in the city, making it Cedar Park’s largest employer.
Shop LC, a television retail network and online retailer for jewelry and lifestyle items, will build a 200,000-square-foot national headquarters in Cedar Park, according to a city press release. The facility, which will be built at the intersection of E. New Hope Drive and N. Bell Boulevard, is expected to be completed on September 30, 2024.
As part of the agreement, Shop LC will hire and retain 1,000 full-time employees by September 30, 2033. city documents. The company’s combined annual payroll for employees is set at $75 million.
As part of economic development incentives, Shop LC will receive nearly $0.4 million in “an economic development grant for job creation, infrastructure compensation and a rebate on real estate taxes,” in addition to an annual membership to the Cedar Park Chamber.
“We welcome the move of the Shop LC company headquarters to Cedar Park. They will be our largest employer, with 1,000 high-quality jobs,” Cedar Park Mayor Corbin Van Arsdale said in a press release. “Shop LC will invest significant capital in our community and provide primary employment opportunities for our residents. This fits in perfectly with the strategic objective of our municipality: economic vitality.”