Cedar Park Area Deemed 'Texas Enterprise Zone'

CEDAR PARK, TX — The state has deemed the Cedar Park Regional Medical Center as a Texas Enterprise Zone, setting the stage for tax relief, private investment and a bolstered workforce, officials said Thursday.

The enterprise zone designation came from the governor's Economic Development and Tourism Office, Cedar Park officials said. The state program enables municipalities to designate zones or projects for the State’s Enterprise Program to secure tax relief for qualified applicants.

“Even during this hard and dizzy time, Cedar Park is growing and expanding," Mayor Corbin Van Arsdale said in a prepared statement. "This Enterprise Zone Project allows Cedar Park Regional Medical Center to receive State sales tax funds as an incentive on purchased materials used to expand the hospital. These state incentives help meet our residents’ needs by growing one of our target sectors—health care."

The mayor said succinctly: "This is a big deal for our community.”

The designation of Cedar Park Regional Medical Center as an enterprise project will contribute "significantly" toward city development initiatives as it relates to bolstered investment in the area, officials said. The designation will continue to promote a spirit of cooperation among public, private and neighborhood entitiese to reinforce the Cedar Park Regional Medical Center area, officials noted.

By virtue of the enterprise zone's creation, the city and medical center will be better equipped to create an economic and social environment appealing to private investment, according to city officials. To that end, productive enterprises can be created to provide employment to residents — including economically disadvantaged ones, officials said.

To that end, at least 35 percent of Cedar Park Regional Medical Center’s new employees will be residents from within the enterprise zone, economically disadvantaged individuals or veterans as part of the program, officials added.

Cedar Park Regional Medical Center CEO Bo Beaudry lauded the development: "We are very thankful for this designation. It will allow for the development of new healthcare services and positions to meet the needs of our community. We truly value our relationship with the City of Cedar Park and their nomination for the Texas Enterprise Zone.