City Council approves incentive agreement for video game, digital technology company
The Round Rock City Council voted 7-0 to approve an economic incentive for the headquarters and engineering studio of KingIsle Entertainment, a video game and digital technology company. The company will employ 150 and invest a minimum of $500,000 in a 33,000-square-foot facility.
KingsIsle, originally headquartered in Plano, previously operated its software development studio in Round Rock, with 80 local employees. KingsIsle was acquired in January 2021 by Media and Games Invest, and as part of the acquisition process, the company conducted a national search to identify a location to consolidate its U.S. headquarters and engineering studio.
“KingsIsle is a dynamic addition to Round Rock’s business community,” Mayor Craig Morgan said. “Not only is it a technology and computing business, which is a key industry target for our economic development partnership with the Round Rock Chamber, it will also be a corporate headquarters. This is a double-win for Round Rock.”
“We’re excited to solidify and grow KingsIsle Entertainment’s footprint in Round Rock while incorporating relocated staff from previous offices now decommissioned in the Bay Area, Austin, and Plano,” said Merv Lee Kwai, KingIsle’s Chief Gaming Officer.
Under the terms of the agreement, KingIsle is required to lease a facility in Round Rock for a minimum of three years, invest a minimum of $500,000 in real property improvements and business personal property and create 150 primary jobs, which would include the retention of the company’s local 80 employees. KingIsle has identified 33,000 square feet of office space at 2700 La Frontera Blvd. as the location of the facility.
The positions will include a diverse workforce of software engineers, developers, and headquarters and administrative functions with an average annual salary of $85,000 and offering full benefits, which is well above the Williamson County average wage, said Jordan Robinson, Vice President of Economic Development for the Round Rock Chamber.
In consideration for KingsIsle meeting the obligations of the agreement, economic incentive payments totaling $100,000 will be made on an annual basis over a three-year period. The incentive will be funded through the City’s half-cent sales tax for economic development.
The post City Council approves incentive agreement for video game, digital technology company appeared first on City of Round Rock.
Source: City of Round Rock