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The original item was published from 2/26/2016 8:49:09 AM to 3/8/2016 12:00:05 AM.

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City of Allen Headline News

Posted on: February 26, 2016

[ARCHIVED] Allen Company Nominated for the Texas Enterprise Zone Program

jack henry and associates texas enterprise zone

The City of Allen has nominated Jack Henry & Associates to receive state incentives for continuing expansion and job growth. On Feb. 23, council members approved an ordinance to recommend the company for the Texas Enterprise Zone Program, which offers sales tax rebates to companies who are growing their workforce and making capital investments in Texas communities.

“Since relocating to Allen in 1999, Jack Henry & Associates has been a great community partner that has grown with the city,” said Dan Bowman, CEO of Allen Economic Development Corporation. “This program was instrumental in keeping Jack Henry & Associates in Allen in 2009, and we’re glad to assist them again in applying for state funds to continue growing.”

Jack Henry & Associates, an S&P 400 company, is an information technology company that specializes in providing software systems used by over 11,000 financial institutions worldwide. The company currently employs 605 people in Allen and plans to add 40 new high-wage positions and $6.75 million in capital investment over the next five years.

To qualify for the program, a portion of the company’s new hires must be considered “economically disadvantaged”—including those with a physical or mental disability, who receive public assistance, or who have been unemployed for at least three months.

In exchange, Jack Henry & Associates receives a reimbursement of up to $1.25 million in sales tax from the State of Texas. This investment could bring $225,000 in new sales and property tax to the City of Allen over the next ten years.

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