The Kalahari Resorts and Convention Center project under construction on U.S. 79 will be a significant source of new jobs and revenue to the City of Round Rock, which partnered with the private company to locate its fourth facility here. Its proximity to Old Settlers Park and Dell Diamond – two well-established venues that together draw more than a million visitors annually – bodes well for a successful, tourism-oriented development.
Kalahari announced in June 2016 its intention to build in Round Rock, and the City engaged in a nearly two-year public engagement process as the project and economic incentives were under consideration by the City Council. You can access the full set of project web pages here.
The incentive agreements call for Kalahari to employ a minimum of 700 and invest at least $350 million in a 975-room resort, 200,000-square-foot indoor/outdoor water park and 150,000-square-foot convention center. The City owns the 351-acre tract of land, which is leased to Kalahari for up to 99 years. The City has issued bonds to provide $40 million in net proceeds to construct the City-owned Convention Center, and $30 million to construct city-owned infrastructure improvements. After the debt payments on the bonds are made each year, the City and Kalahari will share remaining select State and City tax revenues. The City expects to receive $4 million a year in new tax revenue after debt and incentive payments are made for years 1 through 10 of the agreement.