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Cedar Park board approves three-year deal with Plug and Play to expand innovation hub
Summary
The Cedar Park board authorized a three-year, performance-based economic development agreement with Plug and Play LLC to expand the city's innovation hub and add an aerospace and defense vertical; the agreement includes annual incentives the city described as $1.5 million and programmatic support including mentorship and corporate partnerships.
The Cedar Park board voted to authorize a three-year performance-based agreement with Plug and Play LLC to sustain the city's innovation hub and establish an aerospace and defense vertical in Cedar Park.
Arthur, economic development staff, told the board the agreement builds on an existing multi-year partnership. He said Plug and Play's continued presence has driven local technology adoption and recent company relocations and that commitments in the updated agreement include mentorship, workshops, access to funding and connections to corporate partners.
The agreement was described in staff materials as…
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