Austin, TX (March 31, 2017) – The City of Austin today announced a performance-based economic development investment proposal with Merck, known as MSD outside the United States and Canada. Merck is proposing to establish an IT Hub focused on digital health and other information technology solutions creating at least 600 jobs over a 10-year period, with average salary wages of $84,586 a year (with the lowest 10% at $54,511).
Merck has been inventing medicines and vaccines for many of the world’s most challenging diseases for more than a century. The company has approximately 68,000 employees worldwide and is headquartered in Kenilworth, New Jersey.
The City’s proposal includes a performance-based investment of $856,000 over a 10-year period. A presentation on the proposal will be provided at the Austin City Council meeting on April 6 at Austin City Hall. A public hearing and council consideration on the proposal will occur at the Austin City Council meeting on April 13.
For more information on the proposal visit the City of Austin’s Economic Development Department web site at www.austintexas.gov/ecodev.
About the City of Austin Economic Development Department
The City’s Economic Development Department (EDD) develops and leads innovative programs that increase the prosperity of all Austinites, our businesses, and our diverse communities.