An economic incentive agreement between the city of Kyle and SmileDirectClub’s Access Dental Lab will bring 850 jobs to the city of Kyle via the Hays Logistics Center, an industrial development near I-35.
The agreement was formally approved at a special City Council meeting held at the facility Oct. 8.
“It’s very competitive,” said Diana Torres, direct of economic development for the city of Kyle. “For us to be able to win this project is a big feather in our hat and says a lot for our region. We’re in the innovation corridor, and they’re a high-tech biomedical manufacturing company.”
In exchange for job creation and a capital investment of about $37 million, the incentive agreement stipulates that the company will receive a 50% rebate on real and property taxes over the next eight years, Torres said. The estimated value of the incentive, according to Torres, is about $659,799, while the estimated net benefit to the city is about $5,234,235.