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VIASAT
Economic Development Agreement
ADD A SLIDE TITLE - 3
FRAMEWORK OF THE AGREEMENT
Capital Investment
$20M Investment
$15M Property
Value
Jobs
130 Existing Jobs
$7.6M Payroll
150 New Jobs
$9.2M Payroll
280 Total Jobs
$17.2M Payroll
Incentives
Reimburse Portion of
Taxes
Fast Track
Development Fee Waivers
CASH INCENTIVE CALCULATION• Shared Revenue between Bryan & College Station:
– $15M/$100 Valuation (0.24 O&M rate per ILA) = $36,000 shared revenue– City of Bryan’s Portion of Shared Revenue = $36,000/2 = $18,000– City of Bryan’s Cash Incentive Payment to Viasat in Year 1 = $18,000
(80%) = $14,400
• City of College Station’s Cash Incentive Payment:– $15M/$100 Valuation (0.4725 total tax rate) = $70,875– City of College Station’s Portion of Shared Revenue = $36000/2 = $18,000– City of College Station taxes collected = $70,875 (80%) = $56,700– City of College Station’s Cash Incentive Payment to Viasat in year 1 =
$56,700 total
HIRING PRACTICESOne of the many aspects of our company culture that we are very proud of is our focus on and commitment to diversity. We offer several educational programs and sponsor a variety of diverse employee resource groups for current employees. We also participate in several diversity focused recruitment events. For example, for the past three years we have offered Windmills Training for all employees aimed at raising awareness. We have also sponsored events to include an employee disability volunteer fair where employees learned about different organizations they can volunteer with to work with and support people with disabilities and a parent/family member resource fair for helping loved ones with disabilities find employment. Our talent acquisition team also participates in “Jobtoberfest”, a recruiting fair for people with disabilities.
ASSUMPTIONS• Real & Personal property valuation per Brazos County Appraisal
District is $15,000,000.
• City of College Station Operations & Maintenance Rate is $0.277161.
• City of Bryan Operations & Maintenance Rate is $0.580585.
• City of College Station’s Total Tax Rate is $0.4725.
• O&M Rate $0.24 per the interlocal agreement with Bryan.