Visa creating 800 seemingly well-paying IT jobs in Austin
Detailed agreement with Texas spells out average wage levels, year by year
Computerworld - Credit card issuer Visa USA plans to create a global IT center in Austin and hire about 800 people to run it.
Under an agreement with the state of Texas, Visa intends to renovate 175,000 square feet of office space in Austin and invest $27.2 million by the end of 2015.
In exchange, Visa is getting state and local assistance, including $7.9 million through a state enterprise program. The amount of aid is based on what the state expects to receive in increased sales tax revenue.
There are strings attached to the aid.
The state development agreement, announced last week, spells out some specific terms, including set levels for the annualized compensation that Visa's Austin employees receive.
The average wages of employees at the new IT center, excluding health and retirement benefits, can't be less than $96,469 in 2013; that figure rises to $129,775 in 2022.
The agreement calls for "a grand total of 841 full-time jobs" by the end of 2017. Visa employs a total of about 7,500 people.
A Visa spokeswoman declined to provide any details on the types of jobs that will be available in Austin.
In terms of recruitment, Visa is obligated to make "commercially reasonable efforts" to work with nonprofit organizations to help find IT professionals.
The city evidently hopes that most of the hires will be local.
Patrick Thibodeau covers SaaS and enterprise applications, outsourcing, government IT policies, data centers and IT workforce issues for Computerworld. Follow Patrick on Twitter at @DCgov, or subscribe to Patrick's RSS feed . His email address is firstname.lastname@example.org.
Read more about Data Center in Computerworld's Data Center Topic Center.
- Pivotal Melds Big Data and Platform-as-a-service The value of Information has increased, so has the business's thirst for more information. Access to data and collaboration are at the heart...
- The Pivotal Big Data Suite- Reducing the Risks of Big Data The explosion of big data and the rapid evolution of big data tools and technologies is challenging IT to meet the demands of...
- The Principles of the Business Data Lake The Business Data Lake is a new approach to information management, analytics and reporting that better matches the culture of business and better...
- Start with a Data Lake. End with Business Value. Pivotal Big Data Suite enables companies to store all data, accelerate processing and most importantly increase the amount of data being analyzed and...
- The Key to Happiness: Throw out Your Data Warehouse In this webinar, Kerry Reitnauer, Director, Solution Architect at FairPoint Communications will discuss the challenges the data warehouse brought, how they migrated to...
- Building Tomorrow's Data Center with Converged Technologies A number of forces are converging: the cloud, converged infrastructure, big data and fabric architectures to name a few. All Data Center White Papers | Webcasts
Our new bimonthly Internet of Things newsletter helps you keep pace with the rapidly evolving technologies, trends and developments related to the IoT. Subscribe now and stay up to date!