CEDAR PARK, Texas (KXAN) — A $50 million capital investment approved by the Cedar Park City Council Nov. 18 will create 1,000 jobs within the city, bringing with it Cedar Park's largest employer.
Shop LC, a television shopping network and online retailer for jewelry and lifestyle items, will construct a 200,000-square-foot national headquarters in Cedar Park, per a city news release. The facility, set to be built at the intersection of E. New Hope Drive and N. Bell Boulevard, is expected to finalize construction by Sept. 30, 2024.
As part of the agreement, Shop LC will hire and maintain 1,000 full-time employees by Sept. 30, 2033, according to city documents. The company's combined yearly payroll for employees is established at $75 million.
As part of the economic development incentives, Shop LC will receive nearly $5.4 million in "an economic development grant for job creation, infrastructure reimbursement and a property tax rebate," alongside a yearlong membership with the Cedar Park Chamber.
“We welcome the world-class company Shop LC’s relocation of its headquarters to Cedar Park. They will be our largest employer, with 1,000 high-quality jobs," Cedar Park Mayor Corbin Van Arsdale said in a release. "Shop LC will be investing significant capital in our community and providing primary job opportunities for our residents. This perfectly aligns with our City Council’s strategic goal of economic vitality.”