This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Firm To Bring High-tech Jobs To Rural Texas

WILL WEISSERT

AUSTIN, Texas (AP) â¿¿ Gov. Rick Perry is cutting the ribbon Wednesday on a private firm's new $7 million information and technology facility, which promises to create at least 350 new jobs in a rural Central Texas.

CGI Group Inc. is building a 40,000-square-foot center providing technology services in Belton, about 60 miles north of Austin. The firm is receiving $1.8 million in state money from the governor's Texas Enterprise Fund, which is designed to attract high-tech firms to the state.

George Schindler, president of CGI in the U.S., said the company looked at 30 communities across five states before settling on Belton. He said the area offers a skilled workforce trained at several nearby colleges and universities â¿¿ but one that won't demand the top salaries required by applicants in larger cities.

"We're getting access to talent that is untapped," Schindler said. "That's why we really look at these smaller communities."

He said incentives from state and local government also helped bring CGI to Belton, and that avoiding traditional technology hubs in Texas meant not having to compete with â¿¿ or poach from â¿¿ other top firms seeking tech employees.

Texas has long attracted high-tech companies to places like Dallas or Austin, but Belton is the kind of locale cutting-edge companies likely wouldn't have considered without support from the Texas Enterprise Fund, said Perry spokeswoman Lucy Nashed.

"The fund is designed to attract jobs to areas across the state not just those places that are traditional hubs," Nashed said.

As of last month, Perry said the fund has invested more than $443.4 million and signed contracts to generate 62,000 new jobs and more than $15.4 billion in capital investment â¿¿ though critics say injecting state dollars into the private market is tantamount to picking private-sector winners and losers.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs