ROUND ROCK, Texas — At is meeting on Thursday, January 14, Round Rock City Council approved a resolution entering into an Economic Development Incentive Agreement with Ametrine, Inc., under the auspices of the Round Rock Transportation and Economic Development Corporation (TEDCO). Ametrine, Inc. is currently located in Rockville, Maryland. It was founded in 2016.
The company plans to relocate to Round Rock with its headquarters and production after comparing the city to 12 others, according to a prepared statement by Ametrine, Inc. CEO Brandon Cates read at the meeting.
Ametrine, Inc., has two employees, according to information online by Dun & Bradstreet, and generates $66,968 in sales. It is a Department of Defense contractor that manufactures and develops multi-spectral camouflage uniforms and systems.
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The approved agreement with TEDCO requires Ametrine to lease a production facility for at least ten years, to invest a minimum of $3 million in real property improvements and invest at least $5 million in business and personal property. It will also create 140 new jobs. They have a strong policy of hiring U.S. veterans, according to information presented at the City Council meeting.
Repayment of the economic incentives’ repayment of $345,000 will take place over a 5-year period, as follows:
- Year 1 = $100,000
- Year 2 & Year 3 = $75,000
- Year 4 – $15,000
- Year 5 = $45,000
The agreement is performance-based, according to city officials.
Cates said in a statement read at the City Council by Nicole Vance, “It has been an absolute pleasure to work with the Economic Development team.” The company began its search for a new location a year ago, he said.
Ametrine is also the name of a gemstone, or trystine with a trade name of bolivianite, a naturally occurring variety of quartz. It is purple and yellow in coloring, as a mixture of amethyst and citrine. It is a stone believed to relieve tension and balance mental stability and self-confidence.