City council approves incentive deal for video game and digital tech company

Round Rock City Council voted 7-0 to approve an economic incentive for the head office and engineering studio of KingIsle Entertainment, a video game and digital technology company. The company will employ 150 people and invest a minimum of $ 500,000 in a 33,000 square foot facility.

KingsIsle, originally headquartered in Plano, previously operated its software development studio in Round Rock, with 80 local employees. KingsIsle was acquired in January 2021 by Media and Games Invest, and as part of the acquisition process, the company conducted a nationwide search to identify a location to consolidate its US headquarters and engineering studio.

“KingsIsle is a vibrant addition to the Round Rock business community,” said Mayor Craig Morgan. “Not only is this a technology and computer company, which is a key industrial target for our economic development partnership with the Round Rock Chamber, but it will also be the company’s headquarters. It’s a double win for Round Rock.

“We are excited to consolidate and expand KingsIsle Entertainment’s footprint in Round Rock while incorporating relocated staff from the now decommissioned former offices in the Bay Area, Austin and Plano,” said Merv Lee Kwai, KingIsle Games Director. .

Under the agreement, KingIsle is required to lease a facility in Round Rock for a minimum term of three years, to invest at least $ 500,000 in real estate improvements and commercial personal assets, and to create 150 main jobs. which would include the retention of the 80 local employees of the company. KingIsle has identified 33,000 square feet of office space at 2700 La Frontera Blvd. as the installation location.

The positions will include a diverse workforce of software engineers, developers, head offices and administrative functions with an average annual salary of $ 85,000 and offering full benefits, which is well above the average salary of the Williamson County, said Jordan Robinson, vice president of economic development for the House of Round Rock.

In return for KingsIsle’s compliance with the obligations of the agreement, economic incentive payments totaling $ 100,000 will be made annually over a three-year period. The incentive will be funded by the City’s half-cent economic development sales tax.

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