A cable home shopping network that is moving is national headquarters to Cedar Park is expected to be the town’s largest employer, officials said.
Shop LC, a cable television network and online retailer of jewelry and lifestyle products currently based in Austin, will create 1,000 jobs with an average salary of $70,000, according to a city news release.
“We welcome the world-class company Shop LC’s relocation of its headquarters to Cedar Park,” Mayor Corbin Van Arsdale said in the release. “They will be our largest employer, with 1,000 high-quality jobs. Shop LC will be investing significant capital in our community and providing primary job opportunities for our residents. This perfectly aligns with our City Council’s strategic goal of economic vitality.”
The Cedar Park City Council approved a $5.4 million incentive package for the company on Thursday. The incentives include a property tax rebate for the first three years of 75% and then a property tax rebate of 60% for the next two years. The city will provide a 50% tax property tax rebate for the fifth year the business is in Cedar Park.
The incentives also include an economic development job creation grant of $4,500 per job up to 1,000 jobs, a $150,000 reimbursement if a traffic signal or road is needed and a year membership to the Cedar Park Chamber of Commerce, the release said.
The shopping network will build a $50 million, 200,000 square-foot facility near the intersection of East New Hope Drive and U.S. 183, the release said. Construction is expected to be complete by Sept. 30, 2024.
“Cedar Park is a beautiful and vibrant city with great schools and a strong community, making it the perfect choice for us to build our permanent home where our company, employees and their families can thrive,” Shop LC North American President Amit Agarwal said in the release.
The company sells jewelry, gemstones, precious metals, purses and fashion accessories, kitchen supplies, and bedding and bath products,according to its website.
For every purchase, Shop LC provides a meal to hungry children in India and the United States, according to the website. It said the company’s One for One Program delivers meals across India through its partnership with Akshaya Patra and in the United States through its partnership with No Kid Hungry.
Shop LC was founded in 2007 as the Jewelry Channel, according to its website. During the 2008 recession, sales declined so the company changed its name to the Liquidation Channel expecting to go out of business, the website said.
It said the company grew instead of having to close and renamed itself in 2017 to Shop LC, which stands for “Shop Low Cost.”
For more information, visit shoplc.com.