The Round Rock City Council approved an economic incentive agreement with Chatsworth Products, Inc. (CPI), a leading global supplier and manufacturer of systems designed to organize, store and secure IT infrastructure equipment, to expand its operations in Round Rock.
CPI, based in Agoura Hills, Calif., will expand its manufacturing capabilities through the lease of 33,922 square feet from owner and developer EastGroup Properties LP at Settlers Crossing Building 2. CPI plans to manufacture its power distribution product line at this facility. The CPI Round Rock location will employ 40 full-time employees, and the company plans to invest $1,200,000 in equipment and building improvements over the next seven years.
“Chatsworth’s investment in people and property is welcomed with open arms in Round Rock,” Mayor Craig Morgan said. “This high-tech firm will help write another chapter in our community’s success story of growing and diversifying the Round Rock economy.”
To receive $50,000 in program payments from the City, CPI must maintain its lease for at least seven years, invest $1.2 million in equipment and other building improvements and employ at least 40.
“The incremental growth and success of our intelligent power distribution product line throughout the years have placed the need for CPI to designate a location that can better support the manufacturing, assembly and quality testing of our electronics,” says Ted Behrens, CPI’s executive vice president global engineering and product management. “Round Rock is in a strategic location, providing quick access for shipments and deliveries, and is just a few miles from our Research, Development and Training Center in Georgetown, Texas.”
CPI designs and manufactures ICT infrastructure products and industrial enclosures that protect information and communication technology equipment. Headquartered in the United States, CPI operates worldwide, including offices in Mexico, Canada, China, the United Arab Emirates, and the United Kingdom. CPI’s manufacturing facilities are located in the United States, Asia and Europe.
“We are thrilled to have Chatsworth join our community,” said Nichole Vance, the chamber’s director of business attraction. “They are a successful, 100 percent employee-owned business that we feel will be a great addition to Round Rock as we continue to diversify and expand our business community.”
EastGroup Properties is currently under construction on two buildings at Settlers Crossing totaling 159,570 square feet. The buildings will be complete by the end of 2018 with CPI taking occupancy during the first quarter of 2019.