Houghton Mifflin Harcourt (HMH) is relocating its Texas regional office to Round Rock. The project will bring over 270 positions, with an average salary of at least $70,000 including benefits, to a new 100,000-square-foot Class A office building that will be developed by Live Oak-Gottesman.
The relocation is estimated to be complete in July 2016. The City Council approved Thursday, June 11, a mix of incentives to bring HMH to Round Rock.
“We are honored that HMH has chosen Round Rock to call ‘home’ and appreciate the trust they are putting in us,” Mayor Alan McGraw said. “They will be a valuable partner, and I look forward to them becoming an integral part of our vibrant, thriving community.”
HMH is a leading provider of pre-K–12 education content, services, and cutting-edge technology solutions across a variety of media. Serving more than 50 million students in over 150 countries worldwide, it is focused on engaging and effective educational content and experiences that change people’s lives by fostering passionate curious learners. Headquartered in Boston, HMH has 20 U.S. offices and six more located in international locales including Ireland and South Korea. It’s new Round Rock office will be constructed in La Frontera.
“We are excited to add another international company to our business community,” said Ben White, vice president of economic development at the Round Rock Chamber. “Adding an additional Class A office building in Round Rock has been a priority, and we’re thrilled to partner with Live Oak-Gottesman and Houghton Mifflin Harcourt to make it happen.”
The incentives are based on the construction of an office building valued at a minimum of $14.25 million, with an additional $3 million in improvements, along with the employment of 270.
City property taxes on the building will be 100 percent abated in years 1-2, 75 percent in years 3-4, 50 percent in years 5-6, and 25 percent in years 7-10. City property taxes on the improvements will be 100 percent abated in year 1, and 75 percent abated in years 2-3.
The City will also make payments totaling $350,000 over four years to HMH, and waive up to $25,000 in site preparation and construction fees.