DEPARTMENT: Economic Development
DEPARTMENT HEAD: Rene Dominguez
COUNCIL DISTRICTS IMPACTED: 4
SUBJECT:
City Council consideration of an Economic Development Incentive Fund (EDIF) Grant Agreement with IPSecure, Inc (IPSecure).
SUMMARY:
This ordinance authorizes a performance-based Chapter 380 EDIF Grant Agreement with IPSecure valued up to $420,000, based on a capital investment of approximately $1.3 million, the commencement of business operations for the expansion, the creation of 60 new full-time jobs earning $100,000 or more annually, 20 new full-time jobs earning $50,000 or more annually, and the retention of 115 existing full-time jobs at the Port Authority of San Antonio (Port San Antonio).
BACKGROUND INFORMATION:
Founded in 2000 and headquartered in San Antonio, IPSecure provides a broad range of information technology services to government and private sector companies worldwide. The company focuses primarily on cybersecurity services, including penetration testing and exploitation services, and defending against both outsider and insider threats. The company has provided support to the intelligence community for over 12 years.
The company's founder and current president/CEO, Jesse Rodriguez, is a native of San Antonio who had a 19 year career as a government civilian employee before Kelly Air Force Base closed. Mr. Rodriguez used his retirement savings from working at Kelly Air Force Base to launch IPSecure, whose current client list includes the Air Force Information Operations Center, National Security Agency, Air Force Network Operations & Security Center, the U.S. Secret Service, and the Defense Information Service Agency.
IPSecure is expanding to perform research and development on security solution applications. This expansion at Port San Antonio will launch the company's first commercial sector division and bring classified and unclassified office and meeting space to the San Antonio market. Specifically, the unclassified ...
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