18 Sep DECA supports proposed NXP incentive
Diversity Ethnic Chamber Alliance
Members of the Austin City Council
301 W. 2nd St.
Austin, TX, 78701
Dear Esteemed Members of the Austin City Council,
We are writing to express the wholehearted support of the Diversity Ethnic Chamber Alliance (DECA) for the proposed NXP incentive, as outlined in the NXP Incentive Proposal, with an estimated Chapter 380 incentive value of $1,000,000 over 5 years. We believe this investment is not only financially sound but also aligns with our values of promoting economic growth, job creation, and a vibrant business community in Austin.
The Diversity Ethnic Chamber Alliance is dedicated to fostering an inclusive and thriving business environment that supports diversity, equity, and inclusion. We believe that this incentive will not only benefit the city financially, but also have a positive impact on the local workforce, diversity, and community engagement.
The key highlights of the proposed NXP incentive that have garnered our support include:
1. **Job Creation**: The creation of 53 jobs is a significant step towards reducing unemployment in our city. This not only provides opportunities for Austin residents but also contributes to the overall economic well-being of the community.
2. **Capital Expenditures**: The projected $290,800,000 in capital expenditures will not only stimulate local businesses but also contribute to the growth and development of our city.
3. **Campus Refurbishment**: The refurbishment of both NXP campuses is an investment in the physical infrastructure of Austin, enhancing the overall attractiveness of the area for residents, businesses, and visitors alike.
4. **CHIP Act Federal Dollars**: The participation of the City of Austin in this project unlocks CHIP Act Federal dollars in upwards of $45 million, further magnifying the positive impact of this incentive.
5. **Economic Benefit**: The estimated benefit value to the City of Austin, which exceeds $1,500,000 after incentives, demonstrates a clear return on investment for our community.
We firmly believe that supporting such initiatives not only demonstrates the commitment of Austin to being a hub for innovation but also showcases our city’s dedication to diversity and inclusion in the business landscape.
In conclusion, we urge the Austin City Council to approve the proposed NXP incentive based on the estimated Chapter 380 incentive value. This investment aligns with the values of our chambers and will undoubtedly contribute to the growth, prosperity, and inclusivity of our vibrant city.
Thank you for your time and consideration. We look forward to seeing the positive impact that this incentive will bring to Austin.
Tina Cannon, President & CEO of the Austin LGBT Chamber
Tam Hawkins, President & CEO of the Greater Austin Black Chamber
Mark Duval, President & CEO of the Greater Austin Asian Chamber
Monica Muñoz Andry President & CEO of the Greater Austin Hispanic Chamber