In a huge boost to the Austin economy, Hanger Orthopedics Group -- one of the nation's largest providers of orthotic and prosthetic patient care services -- is moving its headquarters to Austin.
Negotiations have been worked out on a 75,000 square foot lease at the Domain development in North Austin. The facility will be large enough to accommodate 250 to 300 employees.
Governor Rick Perry says the state will invest $1.5 million through the Texas Enterprise Fund for Hanger's relocation from Bethesda, Maryland. The City of Austin may also add to that incentive.
The company says the move should be completed by the third quarter of this year.
Current Hanger employees will be offered severance packages if they don't want to make the move to Austin.