Urban Mining Brings 100 Jobs to San Marcos
February 23, 2017 12:14 pm
Demand for new homes in San Marcos TX could begin to grow thanks to news Urban Mining Co. is relocating its headquarters and opening a new $25 million, 100,000 square foot facility in the city. The Greater San Marcos Partnership says the Austin-based company is expected to hire 100 advanced manufacturing and technology employees when the facility opens in 2018.
Urban Mining recycles rare earth metal magnets out of used products like hard drives and other electronics.
The City of San Marcos and Hays County lured Urban Mining with tax incentives that include a 75 percent rebate on personal property taxes and a 25 percent rebate on property taxes for 10 years. Both incentives are tied to job creation and retention.
San Marcos Mayor John Thomaides said in a statement that the new manufacturing and technology jobs are, “the quality jobs that lead to career advancement for our residents, allowing them to work for a great company with an important mission in this fine city that we all love.”
Greater San Marcos Partnership President Adriana Cruz said Urban Mining’s business is in a growing industry and is a “perfect match for our current advanced manufacturing sectors as well as our new advanced manufacturing sectors Texas State is working on.”
Texas State University hosts a 58-acre technology incubator known as STAR Park which develops new commercial companies in applied research.
The new Urban Mining facility will complement existing businesses in San Marcos, such as the joint venture between General Electric and France’s SNECMA which builds composite jet engine blades, and United Technologies, which builds jet engine components.
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This post was written by Buffington Homes