AUSTIN, Texas — By the end of this year, more than 350 Austin employees will be able to work out of a new location.
On Thursday, semiconductor equipment production company Tokyo Electron U.S. Holdings Inc. (TEL) shared its new plans to build a new 15-story headquarters space near on 401 S. First St, not far from Auditorium Shores at Town Lake Metropolitan Park.
TEL's U.S. headquarters have been located in southeast Austin for more than 30 years, but the new 98,761 square-foot building will soon allow employees to work in a more central part of the city.
"This is a pivotal moment for Tokyo Electron, for our company's culture and for our most valued asset, our people," TEL and TEL Manufacturing and Engineering of America president Mark Dougherty said.
The company said its newest location will boast a sky terrace, cafeteria, restaurants, shopping areas, underground parking and more for its employees, along with a meeting space for community organizations and nonprofits.
Not only that, but TEL's current development and research centers will also be gaining 100,000 square feet in total.
On Thursday, the Austin City Council and Mayor Kirk Watson officially approved an $87 million purchase of more than 100 areas of land in southeast Austin to be used for new mixed-use development, where the current TEL headquarters are located.
TEL will continue to lease out its two buildings on the property for one year as the company transitions to its new HQ.
The upcoming building is slated to be finished by December of this year, adding new economic opportunities to the city and the company.