National Instruments Cancels Project That Would Have Created 1,000 Jobs in Austin

National Instruments is cancelling a project that would have created 1,000 jobs in Austin over a decade.

The $80 million expansion project of NI's headquarters on North Mopac Boulevard received millions in economic incentives from the city, county and state. All those agreements have also been canceled.

"We want to continue to leverage our investments and drive for growth," National Instruments spokesperson Stacy Schmidt says. "But in the current economy and the challenges in the test and measurement industry, we're choosing not to move forward at this time."

Austin City Council voted 7-0 in March 2013 to approve $1.67 million in economic development grants for National Instruments to add a 300,000 square foot research and development facility. Governor Rick Perry offered $4.4 million through the Texas Enterprise Fund. Travis County agreed to a property tax cut of at least 40 percent of the value of the new facility.

More at http://kut.org/post/national-instruments-cancels-project-would-have-created-1000-jobs .

[font color=green]This project would have resulted in a large number of high-paying jobs so it is unfortunate that it was cancelled.[/font]