December 15, 2017
The San Antonio City Council approved a $6 million municipal incentives package that will allow USAA to create up to 1,500 net new jobs in the metro. As part of the deal, the financial services company, which is headquartered in the Alamo City, will move as many as 2,000 employees into a pair of downtown buildings it owns; One Riverwalk Place and Bank of America Financial Services Center.
The incentive package, which is tied to USAA’s commitment to expand the parking garage at One Riverwalk Place, includes a $4-million loan and a $2-million tax abatement. The amount owed back to the city would be reduced by $4,000 for each new job created with a base salary of at least $50,000.
The new jobs deal will give USAA a greater presence in the CBD. The company currently employs 200 at One Riverwalk.
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