Austin Business News - Local Austin News | Austin Business Journal
Thursday: The day laughter died on Austin radio waves
Ratings were fairly strong for Austin's year-and-a-half old comedy radio station, Comedy 102.7 FM, but the revenue wasn't there so owner Emmis Austin Radio has turned the station into one that broadcasts Latino pop music. It is now called Latino 102.7, which aims to tap into Austin's already strong ? yet fast-growing ? Hispanic population. Comedy1027.com has posted a thank-you message to listeners, and a link to the Latino station's new site. Emmis managers also opted to make a change on the?
Austin's building permit process investigated
A former residential permit pusher in Austin's planning department is under investigation by police due to suspicion that he illegally took money to approve applications. Records obtained and reported by the Austin American-Statesman allege the activity took place at a time when Austin's permitting office was overloaded with applications. Permits that should have taken days to secure took more than a month. City officials said they're well on their way to unclogging the permitting pipeline, which?
Pennsylvania investor buys Southeast Austin properties
Stoltz Real Estate Partners in Bala Cynwyd, Penn., bought the Commerce Center South at the southwest corner of Ben White Boulevard and Montopolis Drive. The seller was PacTrust. The three Class A industrial buildings encompass 155,545 square feet on a 35.3-acre site in the Southeast Austin submarket. The property was 100 percent leased at the time of sale. The Commerce Center South acquisition was the first in Austin for Stoltz. Transwestern brokers Hale Umstattd, Leah Gallagher and Luke Wheeler?
Reauthorization of Chapter 313 tax incentives imminent
The Texas Legislature is a step away from reauthorizing Chapter 313 of the state?s tax code, which allows school districts to offer businesses temporary limits on the taxable value of new projects. The Senate on Tuesday passed HB 3390, authored by State Rep. Harvey Hilderbran, R-Kerrville, which relates to the Texas Economic Development Act. The bill would extend the provisions of Chapter 313 from Dec. 31, 2014 ? when it was due to expire ? to Dec. 31, 2024. It would also implement provisions?
Tiff's Treats to open South Austin location
Tiff?s Treats, the purveryor of warm cookies delivered to your door, will open a shop in Southwest Austin later this summer or in early fall. ?Our customers in South Austin have had to go to Westlake or downtown for Tiff?s Treats, and now we?ll be in a very popular center,? said Leon Chen, co-founder and CEO. The new store will be in The Shops at Arbor Trails, 4301 W. William Cannon Drive. This will be the company?s 13th store. There will be five in Austin and Round Rock with the new?
Peak Rock Capital acquires Miami paper maker
An affiliate of Peak Rock Capital has acquired Atlas Paper Mills LLC, a Miami-based tissue paper maker. Financial terms of the deal were not disclosed, according to a news release. A spokesman for Austin-based Peak Rock declined to reveal the name of the affiliate company. Atlas Paper Mills, founded in 1981, manufactures tissue products using 100 percent recycled fiber. It employs 2,000 workers, the spokesman said. Peak Rock Capital, which employs 20 workers, is a private equity firm that makes?
Software maker Datical raises $1M financing
Software maker Datical Inc. completed a $1 million financing. The Austin-based company collected the capital from 10 investors, according to a Thursday filing with the U.S. Securities and Exchange Commission. Datical, which was founded in 2012, develops database management software. It was launched by local entrepreneurs Robert Reeves, Daniel Nelson and Pete Pickerill. The trio?s previous business, Phurnace Software Inc., was acquired in 2009 by Houston-based BMC Software Inc. (Nasdaq: BMC). Last?
Lawmakers reach consensus on campus construction bonds
An agreement has been reached on allocating an additional $175 million for debt service to accommodate a major round of construction projects on numerous public university campuses across Texas. The Senate gave final approval to the measure ? House Bill 1025, authored by State Rep. Jim Pitts, R-Waxahachie ? on Wednesday evening. The House had previously proposed $200 million in additional so-called tuition revenue bond payments. The lower figure was reached through negotiations with the House,?
Austin No. 10 for engineering jobs
Austin has been ranked the No. 10 market in the U.S. with one of the highest demands for engineers, according to a survey by Monster Worldwide Inc. The Monster (NYSE: MWW) survey also revealed that the top five engineering occupations across the nation are: Industrial engineerMechanical engineerElectrical engineerCivil engineerElectronics engineer Companies surveyed also indicated they were looking for mechanical, electrical, manufacturing and computer skills. Houston led the list, followed by?
Restrictions for Capitol complex projects increase
Public private partnerships within downtown Austin's Capitol complex could face new limitations in light of legislation nearing passage. The Senate approved House Bill 3436, authored by Byron Cook, R-Corsicana, which prohibits the Texas Facilities Commission and the General Land Office from disposing of land in the Capitol complex. If the bill passes, the commission will be able to develop and operate a project with the private sector?s help only if the Legislature authorizes it. The bill also?