Corvalent celebrates relocation with open house

Corvalent celebrates relocation with open house

By Joseph M. de Leon Friday, 22 May 2009

Corvalent Inc. hosted an open house celebration May 21 with a tour of its new 24,000 sq. ft. manufacturing center.

 

President and CEO Ed Trevis said Texas’ low unemployment rate, the Austin-area’s high caliber workforce and incentives the city offered all made Cedar Park the best choice. The company picked Cedar Park after a national search.

“We’ve had as many resumes sent in as you can imagine,” he said. “The quality of the labor pool here in Cedar Park is all that we expected.”

Of about 1,000 resumes the company has received since its relocation, more than 750 are from Texas applicants, Trevis said.

The company moved 20 workers from its former headquarters in Silicon Valley where it operated for the past 16 years. In the coming year, Corvalent plans to hire 30 more to meet the number of workers it employed before it moved.

“We wanted to move into a fast growing area like Cedar Park and after looking at housing, the cost of living and incentives, we knew this would be the perfect match,” Trevis said. “The most rewarding part is seeing these 20 families benefit from the lower cost of living, so now some are able to buy a home to make a life.”

In July 2008, Cedar Park’s City Council agreed to offer a $402,500 performance-based incentive package to attract Corvalent. The city will pay about $130,000 each year for three years from a portion of a sales tax dedicated to economic development. In return, Corvalent must hire 45 people in the next three years.

The motherboard manufacturer joins a growing list of California companies that have relocated to the Austin area.