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Visa Plans 800 New Jobs in Austin

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Credit card company Visa says it will build a new IT center in Austin, bringing almost 800 jobs to the area within five years.

Texas Governor Rick Perry announced the project this afternoon.

Perry is using $7.9 million dollars from the Texas Enterprise Fund to entice Visa to Austin.

The city will kick in about $1.5 million over 10 years, according to a memo released by the city's Economic Growth and Redevelopment Services Office.

Visa’s side of the agreement includes those new jobs and making about $27 million dollars in capital investments in Austin.