Austin Real Estate Blog

The city council of Cedar Park wants to bring Corvalent to the area and voted unanimously to approve a $402,500 package of incentives designed to lure the computer systems manufacturer to the city. The move would bring 45 jobs over three years to the Cedar Park area. Corvalent is working on the design for a 25,000 square foot building that will become its new home. The city plans to pay about $130,000 per year for three years from a portion of its sales tax revenue that is slated for economic development as part of its agreement with Corvalent.

In turn, Corvalent will carry a minimum payroll of $1.5 million and be required to sign a five year lease for its building, which will be located in La Jaita Business Park. The company is also required to invest a minimum of $300,000 in capital improvements.

Corvalent was founded as a privately held corporation in 1993 and is currently based just south of San Jose, California. They manufacture motherboards and systems for industrial applications, including single board computers, peripheral equipment, desktop and handheld devices, and rack mounted systems. Corvalent systems are designed for heavy use and long life, guaranteeing a life cycle of eight to ten years. Their products are geared toward the security and surveillance, medical, industrial automation, defense, semiconductor and test and measurement industries.

The city of Cedar Park attracted Corvalent, not just for the incentives, but also for the type of workforce they were seeking. “We were looking for a city where people love to live, work and play,” said Ed Trevis, president and CEO of Corvalent.