State, City Officials Tout Charles Schwab Campus In North Austin In Ceremony

NORTH AUSTIN, TX — Company officials and dignitaries attended the dedication of the Charles Schwab North Austin campus at Gracy Farms on Thursday.

Gov. Greg Abbott was among those attending the ceremony, along with Austin Mayor Steve Adler. The topping out ceremony marked the placement of the last beam of the new 500,000-square-foot facility. The new campus at 2309 Gracy Farms Lane has generated 600 jobs and is expected to create 200 more, the governor said.

“Charles Schwab has consistently been named as one of the best companies to work for and I am excited they are expanding their operations in the best state for business,” Abbott said. “Today’s event demonstrates that Texas’ high-quality workforce and welcoming business climate are working to strengthen and diversify our local economies. We may be topping off this structure today, but momentum is still being built, and I look forward to the opening of additional campus’ in the Lone Star State.”

Walt Bettinger, the company's president and chief executive officer, thanked state officials for their assistance in enabling construction of the new campus.

"We're grateful for the warm welcome and support for our growth in Texas, as we seek to make investing more accessible and affordable for millions of Americans," Bettinger said. "Our plans call for expanding our presence and employment in Texas as more and more investors and those who serve them seek out Schwab's services for their wealth management and banking needs."

That help included a financial inducements from the state to convince officials to build locally, in the form of a $6 million Texas Enterprise Fund grant offer. In August, the governor's office said the project creates the largest number of new jobs by virtue of a TEF grant since Abbott took office.

The company will occupy half-a-million square feet at the site, spend $100 in capital investment and create at least 1,200 new jobs over the next ten years, according to the governor's office. In a press advisory, Adler noted the company already employs 1,600 people in Austin, its third-largest presence. Moreover, one in ten of Charles Schwab employees worldwide are in Austin, Adler said.

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