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JANUARY 15, 2021
MANUFACTURING
Central Texas’ magnetism: Region lands another HQ
A California-based magnet manufac- turer and distributor is investing $5.5 million into a new headquarters in Round Rock. Constructionstarted Jan. 7onAmaz- ingMagnets LLC’s 40,000-square-foot facility on 1.8 acres in the Altman Busi- ness Park. It’s one of the first company relocation announcements to be made this year for the Austin area, following a banner 2020 when companies con- tinued to flock to Central Texas, help- ing to offset the losses seen in sectors such as retail. Amazing Magnets has already start- ed its relocation from Anaheim, Cal- ifornia, to the suburb north of Aus- tin, company founder and CEO Tim Boettcher said. The company is tem- porarily operating out of a space about four miles south of the future headquarters, which will be at 1992
Meadow Lake
ALTMAN DEVELOPMENT GROUP
35
Amazing Magnets broke ground on its Round Rock headquarters on Jan. 7.
nets hasn’t tapped any local economic incentives, Boettcher said. The compa- ny purchased the 1.8 acres late last year, and the deal was brokered by Colliers International. By the end of the year, the compa- ny expects to have 25 employees in Round Rock, with plans to double its team in 2022. Most of the company’s current staff are moving to Texas, said Adam Poling, with only a handful stay- ing in California. Poling said the com- pany wants to hire for roles in market- ing, operations, warehousing and sales. For more: https://bizj.us/1q85lv
company will host events to educate the community on topics like its operations, industry trends and business tips, said JudithGuido, executive vice president of strategy and marketing. Like many other California compa- nies, Boettcher said the business was driven away from the West Coast in part due to high taxes, burdensome business regulations and the high cost of living. The Austin area’s comparatively lowcost of living and talent pool, plus the state’s business-friendly climate were among the ultimate deciding factors for the company’s relocation. Amazing Mag-
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SteamWay, off I-35. Amazing Magnets works with companies in the automo- tive, clean energy, entertainment and defense sectors to design, develop and distribute magnetic products. The facility, which includes office and warehouse space, is slated to be complete by the end of August. Alt- man Development Group is the devel- oper and architect of the facility. Plans include space for a theater where the
Join us for an in-depth webinar with expert panelists discussing current and future economic development activity in Texas.
ROBERT ALLEN President & CEO, Texas Economic Development Corporation
HOLLY SULLIVAN Head of Worldwide Economic Development, Amazon
JUBAL SMITH Managing Director and Leader of JLL’s Location Economics Practice, JLL
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