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Kyle, Texas City Council Approves Development Agreement With Image MicrosystemsCompany Plans on Bringing a Total of 181 Jobs to Kyle Within the Next Two Years (December 21, 2011)
AUSTIN, TX and KYLE, TX -- (Marketwire) -- 12/21/11 -- Image Microsystems -- a leading provider of technology restoration, reverse logistics, e-waste recycling, and MicroStrate® recycled products manufacturing -- today announced they have reached an economic development agreement with the City of Kyle, TX.
Job growth has been a key goal of the Kyle City Council for most of this decade. The results of that effort are evident as the city already boasts one of the lowest unemployment rates in the state, and that rate could go even lower with the addition of Image Microsystems to the city's employment base.
Image Microsystems, currently located in Austin, TX, plans to bring 131 full-time jobs to the city of Kyle next year as their electronic waste recycling and MicroStrate® sign manufacturing plant comes online. An additional 50 jobs are planned for 2013.
"For every job we might lose in Kyle, it seems we are able to add that job back and then more in a very short time," said Kyle Mayor Lucy Johnson. "Image Microsystems not only brings quality jobs into Kyle, but also brings in a company with a strong sense of community and a commitment to the environment."
Image Microsystems manufactures a product called MicroStrate® which is used to make sign substrate, or base material, which can be then used for printing signs of any shape or size. MicroStrate® is the company's Trade Marked name for their product made completely of recycled e-waste plastic.
"We're thrilled with the reception we've received from the City of Kyle," said Alex Abadi, CEO of Image Microsystems. "We are looking forward to having a productive working relationship with our new city for many years to come."
"I can't tell you how excited we are about expanding our operation to Kyle," said Liz Walker, Vice President, Marketing and MicroStrate Operations. "The City of Kyle is perfect for our manufacturing facility and offers us an opportunity to expand as we continue to grow."
In order to assist Image Microsystems with moving their operations to Kyle, the Kyle City Council approved a development agreement rebating 100% of the City property taxes levied on all new equipment and machinery acquired after the agreement is signed. Additional incremental increases in taxable value of all new property improvements are also subject to the rebates. Also, in return for Image Microsystems' creating and maintaining the new full-time jobs, the City will rebate 100% of the City's portion of the sales and use taxes that are generated from the company's Kyle location.
In order to qualify for the incentives, Image Microsystems must employ a minimum of 131 full time employees in 2012, and 50 additional employees in 2013. The company must also invest at least $3,375,000 in new real property improvements and new equipment and machinery to qualify for the incentives. Both incentives are for five years. Image Microsystems currently employs a total of 200 employees in Austin. The larger space in Kyle is expected to faceplate their growth for the next 5 years.
The company first started in 1992 in City of Commerce, CA, before establishing their headquarters in Austin. Image Microsystems has won numerous awards from around the country, including the Texas Governor's Employment Award for its innovative technologies, environmentally beneficial manufacturing techniques, and support of the Deaf and special needs communities.
About Image Microsystems Inc.
Founded in 1992, Image Microsystems Inc. is a reverse logistics and technology restoration leader dedicated to offering innovative solutions to eliminate the legal, financial, and environmental risk associated with information technology and consumer electronics reclamation, recycling, and disposal. For more information, visit the company's Website at www.imagemicrosystems.com.
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