0 Articles
0 News
0 Properties
0 Page
Kyle, Texas | Economic Development

Firm expansion in Kyle brings more jobs, contacts

Organization: 
City of Kyle

Kyle, TX – A business expansion and retention project between RSI, the City of Kyle and Hays County will bring more jobs to the city. RSI is a high tech manufacturing and R&D firm based in Kyle specializing in the ruggedization of computer equipment and new technologies related to military applications, oil field and aerospace industries. The firm set up its headquarters in Kyle in 2007 and now has 60 employees.

“RSI is one of our top three target markets for economic development,” said Kyle’s Economic Development Director Diana Blank-Torres. The city’s most recent Strategic Development Plan calls for coordinated efforts to recruit high tech manufacturing firms to town.

She said the plan, passed by Kyle City Council in the fall, will incentivize RSI’s expansion with $480,000 from the city, which is comprised of two hundred forty-six thousand dollars ($246,000) in a Forgivable Grant and a two hundred thirty-four thousand dollars ($234,000) Interest-Free Loan in exchange for job creation. For each year that RSI meets the commitments of the agreement, City will forgive 10 percent of the outstanding balance of the grant.

As part of a regional coordination effort, Blank-Torres said Hays County also passed an economic incentive to aid in RSI’s expansion. The county will reimburse the city $123,000 over ten years, provided RSI meets its targets, most of which are related to job creation.

 “The firm will create 82 more jobs over the next 10 years,” she said, “with a median salary of $42,000.” She added that RSI will begin 24-hour operations. Blank said RSI will also provide high-level networking opportunities for Kyle through the company's existing relationships, which could aid the city in recruiting other firms.

Kyle City Manager Scott Sellers said this business expansion and retention project is a strategic move by the city to continue to attract and retain high tech firms.

“Providing the incentive to expand its operations is a positive way for Kyle to continue to attract firms that will bring high quality jobs and more sales tax to the city,” he said.

http://texasedc.org/members-news/firm-expansion-kyle-brings-more-jobs-co...