A Pennsylvania-based startup that develops electric hybrid technology for the trucking industry is moving its headquarters to Cedar Park with plans to create more than 200 new jobs.
Hyliion is relocating following an economic incentives package of up to $1.27 million that was approved by the Cedar Park City Council this month.
The company, founded in Pittsburgh in 2015, designs, manufactures and installs hybrid suspension for semi tractors and trailers.
The financial incentives offered to Hyliion will be paid over five years. The company must show that it has completed its lease of 83,000 square feet in the Brushy Creek Corporate Center and have 35 employees on its local payroll by Oct. 31 to receive the first incentive payment of $175,000.
The other incentive payments are tied to hiring numbers each year until the Hyliion payroll hits 229 employees in 2022. Hyliion said it has about 50 employees at its Pittsburgh location, and most are planning to relocate.
Hyliion founder and CEO Thomas Healy said the move to the Austin area will allow the company to tap into the region’s workforce and accelerate its growth plans in new technologies and products.
“Our products significantly decrease the environmental impact of long haul, over-the-road trucks which matches nicely with Austin’s environmental consciousness,” he said in a written statement.
The new headquarters has been designed to handle the requirements of semi-tractor trailers as well as offering a planned library space for quiet work, open spaces for group collaboration and bike storage space, showers and an indoor/outdoor space for dogs, he said.
Hyliion says its technology cuts fuel expenses and lowers emissions by turning semi-tractor trailers into electric hybrid vehicles.
The company says its system reduces average fuel consumption by 30 percent, and saves over 3,000 gallons of diesel fuel used annually idling at rest stops.
One tractor trailer equipped with the technology also removes CO2 emissions from the air equivalent to 13 cars being taken off the road, according to the company.
Healy said the company has already made hires in the Austin market and is recruiting for positions in software and algorithm development, electrical and mechanical engineers and technicians, as well as other support positions.
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