Cedar Park Council Approves $85K Incentives Package To Land Corporate HQ

CEDAR PARK, TX -- City Council members recently approved an $85,000 incentive package to land the headquarters of a medical billing company to the city later this year.

But the deal isn't a freebie, and has some conditions attached, the city's economic development director said during the council's regular meeting last Thursday. Comprehensive Healthcare Management needs to provide a minimum of 50 full-time, local jobs with an annual $2.4 million payroll in order to secure the inducements.

Council members approved a resolution outlining those conditions last regular meeting. The company operates cancer centers, and recently formed a partnership with Apex Billing & Medical Practice Management and Landmark Cancer Centers.

In exchange for the tax breaks, the company agreed to sign a five-year lease on 6,000 square feet of office space on Cottonwood Creek in Cedar Park. That lease must be signed June 30 in order to qualify for the first installment of the incentives package, valued at $15,000.

Further conditions must be kept according to a strict timetable. By Oct. 1, the company must have 25 employees with a collective payroll of $1.2 million to receive the second payment of $35,000. By the end of October 2017, the company must have expanded to 50 employees with the $2.4 million payroll to secure the final $35,000 payment, the Austin American-Statesman reported.

The incentives stem from the city's Economic Development Corporation, itself funded through city’s sales tax proceeds. Brewer said the average salary for the jobs provided by the health care company will range from $40,000 to $42,000.