Posting Language
Title
Approve a resolution nominating YETI Holdings, Inc., located at 7601 Southwest Parkway, Austin, TX, 78735, for designation by the Governor’s Office of Economic Development and Tourism as a single Texas Enterprise Project in accordance with Texas Government Code Chapter 2303. Funding: This item has no fiscal impact.
De
Lead Department
Austin Economic Development
Fiscal Note
This item has no fiscal impact.
Prior Council Action:
November 14, 2019 - Council approved Ordinance No. 20191114-068 amending the program to identify additional local incentives for the Texas Enterprise Zone Program.
August 29, 2024 - Council approved Ordinance No. 20240829-154 amending the program to identify updated local incentives for the Texas Enterprise Zone Program.
November 7, 2024 - Council approved Ordinance No. 20241107-041 amending the program to update local incentives for the Texas Enterprise Zone Program.
For More Information:
Mac Cummins, Director, Austin Economic Development, 512-568-9720; Matthew Schmidt, Division Manager, Austin Economic Development, 512-974-6415.
Additional Backup Information:
Over the next five years, YETI Holdings, Inc. (YETI), an Austin company specializing in outdoor products, is planning approximately $5,100,000 in capital investment to further improve and modernize its facilities. Specifically, the planned improvements include the refit of existing office space, relocation and reconfiguration of departments across the campus, construction of a new board room and executive suite, and a branded YETI museum and experiential space. These investments are intended to enhance operational efficiency, improve departmental coordination, and support YETI’s continued long-term presence in Austin. Additionally, YETI employs over 400 employees across its Austin locations and is committing to create 10 new full-time jobs at its corporate headquarters. The Texas Enterprise Zone designation would not include any additional incentive from the City. Although the City is required to nominate a company, the state is ultimately responsible for the designation. If designated by the state, YETI will be eligible for a refund of state sales and use taxes.
This item requests the City’s support of a Texas Enterprise Zone Single Designation. YETI seeks to submit its Texas Enterprise Zone Application to the Office of the Texas Governor for the December 1, 2026, application round.