This is serious business

Quality of life is inextricably tied to a strong local economy. That’s why the City of Round Rock has a long history of striking economic development agreements designed to bring good jobs to the community and sustainable revenue to the City. And the expansion to our tax base is one reason why the City property tax rate is among the lowest in the region.
 
Those agreements have paid off to the tune of $375 million in revenue to the City over the years. Those funds have helped pay for new roads, trails, fire stations, police officers and a host of amenities that make Round Rock such a great place to call home. Nearly 14,000 jobs have been created, and more than $500 million in capital investment has been made in our community as a result of those agreements.
 
Round Rock’s recent business recruitment successes were recognized last month when the City’s Momentum partnership with the Round Rock Chamber received a Gold Excellence award from the International Economic Development Council.  

Last year, the Chamber released the results of an economic impact analysis that evaluated our economic development project wins from 2012 to 2017. The analysis, which was performed by Impact DataSource, looked at the performance of our work through Momentum, our five-year public-private partnership that funds our economic development efforts. During the time period analyzed (2012-2017), we successfully completed 50 economic development projects. Here’s the impact those projects have had:

  • Through 2017, those projects will generate an economic impact of $2.4 billion annually
  • The total number of jobs created directly, indirectly, or through induced behavior was 8,273 for a cumulative workers’ earnings of approximately $1.4 billion
  • The additional revenue for the community’s three main taxing entities during the four-year analysis period equals over $53 million

Our economic development efforts play a vital role in the local economy by growing local enterprises, expanding and diversifying the existing economic base, broadening the tax base, and attracting and retaining sustainable, well-paying jobs.

All that makes for a seriously good deal for Round Rock.