Hanger Orthopedic Group Inc. (NYSE:HGR) will create 140 initial new jobs and 300 during the next several years, thanks to $2 million in state and local incentives. The company earlier today confirmed it would move its headquarters to Austin.
City officials are proposing a $500,000 incentive package for the company, according to documents posted online today. The state of Texas is also providing a $1.5 million Texas Enterprise Fund grant, city officials said.
In return, Hanger is promising to invest $7.65 million and create more than 300 jobs in the next six years.
A good portion of the jobs will be created locally, paying a median wage of is $65,290, according to city documents.
Officials said in the release this morning that the Domain 2 building in North Austin will allow room for growth and is more centralized between the company’s 700 national care facilities.
Last week, a broker reported Hanger negotiating for about 75,000 square feet, but city documents show they will use 40,000 square feet of office space.
The relocation is expected sometime in the third quarter this year.