DEPARTMENT: Economic Development Department
DEPARTMENT HEAD: Rene Dominguez
COUNCIL DISTRICTS IMPACTED: 1
SUBJECT:
Consideration of an ordinance authorizing a Chapter 380 Economic Development Incentive Fund (EDIF) Grant Agreement with Booz Allen for up to a maximum of $250,000. The agreement is based on 1) the creation of 250 jobs (188 with an annual salary of at least $70,000, and 62 with an annual salary of at least $50,000) 2) workforce development to support expansion of the company's established local internship and scholarship programs 3) and investment of approximately $700,000 in real and personal property improvements. Funding in the amount of $250,000 is available in the EDIF FY 2019 Adopted Budget.
SUMMARY:
Booz Allen Hamilton, Inc. (Booz Allen) is considering expanding its San Antonio operations by creating a cybersecurity and data science talent hub to support its long-term contracts. Staff is requesting City Council consideration of an ordinance authorizing a Chapter 380 Economic Development Incentive Fund (EDIF) Grant Agreement with Booz Allen for up to a maximum of $250,000. The agreement is based on 1) a Performance Grant in the amount of $188,000 for the creation of 250 jobs (188 with an annual salary of at least $70,000, and 62 with an annual salary of at least $50,000) 2) a Workforce Development Grant in the amount of $62,000 to support expansion of the company's established local internship and scholarship programs 3) and the investment of approximately $700,000 in real and personal property improvements. Funding in the amount of $250,000 is available in the EDIF FY 2019 Adopted Budget.
BACKGROUND INFORMATION:
Booz Allen is a publicly-traded management and information technology consulting firm, headquartered in McLean, Virginia, with 80 offices and 24,000 employees around the world. Booz Allen advises public- and private-sector clients on organization, strategy, logistics, and information technology, among other areas. The co...
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