2023 ANNUAL COMMUNITY GUIDE
industry base,” Madison said. “They’re not [megaprojects], so they won’t have the mega impact, but they do have great economic bene t, and they will grow and expand as those megaprojects do.” Madison said the city of P ugerville must also con- sider maintaining a trained workforce and general com- petition for land. As Hutto and its neighbors work to manage the area’s rapid growth, Farley said handling the Megasite well will be critical to the long- term health of Hutto. “This is sort of a once-in- a-lifetime opportunity,” Far- ley said. “As an economic developer, you kind of pinch yourself when you see these kinds of things happen, because it just doesn’t hap- pen all that often. From our perspective, we’re just glad to be part of it.” Projected revenue collected by the city of Hutto over 25 years: $88.4M Projected revenue collected by Williamson County over 25 years: $78.7M Megasite TIRZ taxable value in 2022 (baseline): $1.6M Projected taxable value in 2047 (end of TIRZ): $2.4B
On Nov. 17, Hutto o cials approved a TIRZ, or tax increment reinvestment zone, at the Megasite. A TIRZ redirects tax revenue to fund improvements in a given area. The TIRZ will run through 2047 and fund road projects, utility improvements and development grants. Reinvesting taxes
Hutto is not the only city along the SH 130 corridor with enormous development projects in the works or recently delivered. Here is how the Megasite stacks up against other big developments in nearby cities. A budding corridor
How it works:
A baseline year is established— in this case, 2022.
As tax revenue in the TIRZ increases year to year, 50% of each year’s revenue over the baseline year will be allocated to infrastructure improvements .
Amazon fulfillment center 3.8M sq. ft. • 94 acres $250M investment Approximately 1,000 jobs Operational August 2021
After 25 years, the TIRZ will end , and funding will return to normal.
Pflugerville
COURTESY AMAZON
SOURCE: CITY OF HUTTO COMMUNITY IMPACT
Samsung semiconductor plant 6M sq. ft. • 1,268 acres $17B investment
Amy Madison, executive director of the P ugerville Community Development Corp., said P ugerville is preparing for several chal- lenges and opportunities stemming from neighboring development that includes the Megasite. Madison said there will be increased di culty obtaining materials for P ugerville’s own development. “We’ve got over a million square feet going up—com- pare that to 3.8 million or 4 million down the street,” Madison said in reference to the Megasite. One way the city is prepar- ing to deal with possible sup- ply shortages, Madison said, is to recruit primary suppliers and vendors to develop in the city. She said P ugerville’s proximity to the Megasite and other large projects along the SH 130 corridor makes the city an attractive location for such companies. “That’s a really great way for us to grow our local
of users as opposed to one major facility that shows up and needs everything instantaneously—this gives you a little bit more phas- ing,” Farley said. Ripple e ects Hutto o cials have said the development-driven growth could have a pos- itive impact on existing businesses in the area. One example is Chevrolet Covert Country of Hutto, a car deal- ership located directly across Hwy. 79 from the Megasite. Kelly Lemmons, internet marketing director for the dealership, said he expects all of the incoming develop- ment to bring a wealth of new business to Covert. “I think we’re going to sell more cars—I think it’s going to be an amazing thing,” Lemmons said. Additionally, the in ux of development coming to Hutto is anticipated to have e ects that reach within and well beyond the city’s borders.
Approximately 1,800 jobs Complete by January 2026
Taylor
COURTESY JEFFERSON CARROLL
Tesla Gigafactory 10M sq. ft. • 2,100 acres $10B investment Approximately 20,000 jobs Operational April 2022
Travis County
COURTESY FALCON SKY PHOTOGRAPHY
coming from companies that will support those large sin- gle-user developments. The city cannot yet dis- close the names of any com- panies it is negotiating with, but expects to be able to announce some additional projects in early 2023, he said. While industrial develop- ment remains the primary focus for the site, Farley said the city is also weighing some additional uses, such as hotels, conference cen- ters and restaurants to sup- port workers in and near the Megasite. “There are thousands of workers just 4 miles from
here at the Samsung plant, [and] there’ll be quite a few on this site at the appropriate time, so getting some of that type of corporate support out there will be kind of an inte- gral part of building out the site,” Farley said. The city has several road and utility projects incom- ing to support development at the Megasite; Farley said the site consisting of sev- eral smaller developments instead of one or two mas- sive ones will make keeping up with infrastructure needs much easier. “That is one of the advan- tages of a distributed set
For more information, visit communityimpact.com.
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PFLUGERVILLE HUTTO EDITION • JANUARY 2023
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