DEPARTMENT: Economic Development Department
DEPARTMENT HEAD: Rene Dominguez
COUNCIL DISTRICTS IMPACTED: Council District 1
SUBJECT:
A Chapter 380 Economic Development Grant Agreement with Liquid Web, LLC in an amount not to exceed $225,000 over four years.
SUMMARY:
Staff is requesting City Council consideration and action on an Ordinance authorizing the City to enter into a Chapter 380 Economic Development Grant Agreement (Agreement) with Liquid Web, LLC (Liquid Web). The Agreement will provide performance-based financial incentives to Liquid Web in an amount not to exceed $225,000 over four (4) years, based on Liquid Web's commitment to relocate and retain 57 full-time jobs to Downtown San Antonio, and create up to 43 new, full-time IT sector related jobs.
BACKGROUND INFORMATION:
The Liquid Web project falls in line with several of the key long-term economic goals laid out in the City's SA Tomorrow Comprehensive Plan, as well as those presented in Forefront SA, the community's economic development strategic plan led by the San Antonio Economic Development Foundation, including the retention of local businesses and their employees, expanded job creation and economic growth, and support for continued growth of the City's Targeted Industries.
Founded in 1997, privately held, and headquartered in Lansing, Michigan, Liquid Web offers a wide range of hosting services for enterprise customers, while operating and managing its own data centers. With over 30,000 customers spanning 150 countries, Liquid Web employs over 500 people and has been recognized among Inc. magazine's "5,000 Fastest Growing Companies" for the last ten years. The company provides a variety of cloud based products, including shared hosting services, dedicated servers, virtual private servers (VPS), a host of add-on products, and recently purchased the Cloud Sites division of Rackspace.
Experienced technology professionals comprise the company's leadership team, including CEO Jim Geiger,...
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