Texas Materials Group Inc. was approved for up to $13.8 million in incentives over the next decade to move its headquarters within Cedar Park to a new 48,000-square-foot space. The company committed to more than double its headcount to at least 169 employees.

The construction materials company on June 25 received the final go-ahead from the Cedar Park City Council for the incentives that will aid Texas Materials to set up shop in the 300,000-square-foot Cedar Park Town Center office development. That project will be built by Austin-based Balcones Real Estate Group at 701 Central Park Drive.

"Texas Materials has proudly served this community for many years and we're excited to continue investing where we live and work here in Cedar Park," Texas Materials president Robert Checkley said during the meeting.

CRH in April reported revenues of $7.4 billion in the first quarter of 2026, which was a 9% year-over-year increase. That came on the heels of a full year revenues of $37.4 billion in 2025, a 5% year-over-year increase. The company announced it was joining the S&P 500 Index listing in December.

Jimmy Ball, director of land acquisitions for Texas Materials, said during a June 16 Cedar Park Economic Development Corp. meeting the business has been looking for a new space for at least two years. He called the Town Center location "a really nice spot for us," because it's close to the current location for employees and amenities, but also because it's close enough to the airport and several thoroughfares.

He said the new location will help Texas Materials based on its current growth rate, and allow it to double its employee count, while also retaining and attracting talent. He joked the company has to start thinking about the next 10 years.

"I hope we outgrow it. We should have thought better up front and thought bigger but economic times are challenging now. So we had to do something that fit our needs today to give us some growth," Ball said at the time.

The performance-based incentives – codenamed "Project Foundation" in discussions – provide Texas Materials up to $2 million in job creation incentives. The awards are based on the company increasing its headcount to 169 employees with an average salary of $88,546 by Dec. 31, 2027, according to Council documents.

The company is also eligible for rebates on a portion of the sales tax revenue generated up to the site on a sliding scale percentage that starts at 100% in Year 1 and goes down to 75% by Year 10. That has a maximum of $1.1 million annually, or $11.3 million total, over the 10-year-period, according to the documents.

That agreement could extend 10 years with the 75% rebate should the company to occupy the site. Texas Materials is also required to maintain Cedar Park as its place of business of seller for sales tax purposes, according to the documents.

Texas Materials is also eligible for up to $500,000, or $10,000 for each residence or residential lot purchased in Cedar Park by one of its employees, along with a $5,000 membership to the Cedar Park Chamber of Commerce, according to the documents. The EDC's clawback amount reduces by $200,000 annually for each year the company satisfies its obligations in the agreement.

Officials estimated the rate of return on the incentive is 95%, meaning they would recoup the incentive payments in under two years, based on the amount of sales tax generated by the company.

"This investment reflects both the company's commitment to our city but also our strategic goals, strategic plan but also investing in our existing companies. It's not always about recruiting new ones in. We want to make sure to support our own," Cedar Park Chief Economic Development Officer Arthur Jackson said.

Texas Materials is on track to lease the facility by July 31 and move in by May 31, 2028, officials said. Future phases of the development are planned out over several years, with the next building aimed to deliver by Dec. 31, 2028. There is expected to be at least 300,000 square feet of commercial development by 2032, and a trail connection by 2028, according to city documents.

Jackson called Texas Materials a "catalyst" for the long-planned Town Center project.

"The importance of this project extends beyond the company itself as it helps activate the broader office park and creates momentum for future phases," he said.

JLL's Brent Powdrill is leading leasing efforts for the Town Center project.

Cedar Park is about 20 miles northwest of downtown Austin and has an overall population of 79,000. The city has become a corporate hub, with headquarters for high-tech companies such as Firefly Aerospace Inc. and several companies in the aerospace, defense and semiconductor supply chains. It's also home to major lifestyle projects like CedarView.