Monday, February 1, 2010

Austin Dangles Incentives To Internet Firm

The City of Austin is hoping to attract as many as 600 new jobs to Austin by luring Internet legal documents firm LegalZoom.com to the city. According to a request for comments from Austin, it has authorized its City Manager to provide $20,000 a year for ten years to LegalZoom.com to establish a regional headquarters in the city. LegalZoom.com is also receiving $1M from the Texas Enterprise Fund to encourage the move. The payments are tied to both the number of jobs created by the company in the city, as well as by the average salary of those jobs. The city is now taking public comments on the incentive proposal.