USAA’s plan to bring 2,000 quality jobs downtown is a potential game changer for San Antonio’s center city.
Those are 2,000 additional workers to support downtown businesses and potentially move back into the heart of the city.
It represents a significant investment in the city’s center from one of the community’s benchmark institutions. USAA employs 32,000 people, including about 19,000 in San Antonio.
Through a plan dubbed Project Blue, USAA would create 1,500 new jobs in San Antonio. It will place 2,000 of its office workers downtown, Express-News Staff Writer Joshua Fechter has reported.
The city would provide about $6 million in incentives to make this happen. This includes a 10-year, $2 million tax abatement on property and a $4 million loan.
The loan would have to be paid back within five years, but the city will also forgive $4,000 for the creation of each new job with a minimum salary of $50,000.
USAA, a financial services firm, already has a presence downtown with 200 workers. It previously announced plans to add another 400 workers downtown next year. That announcement is separate from this latest news.
This is an exciting time for the city, downtown in particular.
The San Pedro Creek project is under construction, as is the new and iconic Frost Tower. We see promise in plans for a makeover of Maverick Plaza and the continued redevelopment of Hemisfair. The Pearl, just north of downtown, is thriving. New housing continues to come online.
San Antonio’s downtown is a jewel. USAA should be commended for investing in it.