SAN ANTONIO–Credit Human, the former San Antonio FCU here, is being offered $8.8 million in tax and other incentives to move its headquarters, according to MySanAntonio.com.
The publication said government officials are seeking to have the credit union relocate to an office tower at the Pearl, according to three people with direct knowledge of the plans.
The name of the credit union has not been officially disclosed, with city and county officials referring to it in agenda material under a code name: “Project Hominum,” according to MySanAntonio.com. Local officials have signed a non-disclosure agreement with the credit union to allow it to notify its employees before its relocation plans are publicly released, Rene Dominguez, director of the city’s Economic Development Department, told the publication.
As part of the deal, MySanAntonio.com said Credit Human is to retain 435 jobs and create another 50.
“It’s a great company. It’s bringing a large number of good-paying jobs to the area,” Dominguez was quoted by MySanAntonio.com as saying, while declining to name the company. “The retention of those jobs in the city is of key importance, and they were looking at other markets.”
The new headquarters would be at 1803 Broadway, where Silver Ventures, the development firm owned by billionaire Christopher “Kit” Goldsbury that developed the Pearl, has won approval from the city’s Historic and Design Review Commission for a 10-story tower and a six-story tower with office and retail space.
The development has a $113 million price tag and will include 310,000 square feet of space and 958 parking spaces,
MySanAntonio.com reported that under the incentive deal, Credit Human would be required to pay its employees more than $11.83 an hour, or about $24,600 a year for an employee working 40 hours a week, Dominguez said. After a year, 70% of the employees would have to make at least $15.68 an hour, or about $32,600 a year, he said.