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Company expansion could lead to billion dollar boom in Tucson's economy

Posted at 5:36 PM, Aug 01, 2018
and last updated 2018-08-01 21:41:02-04

A national company has plans to expand in Tucson that could bring a billion dollar boom to town. 

The "unnamed" company hopes to add about 2 dozen jobs, each, with an average salary of $143,000 dollars. 

In city filings, the "unnamed" company is being referred to as "Project Treasure."

It plans to invest more than $29 million to build a 110,000 to 125,000 square foot office building. It would be a 3 or 4 story building on the last vacant parcel in the Williams Centre near Broadway and Craycroft.

Tucson City Council member Steve Kozachik says the city recently decided to waive the building permit fees. He says "Project Treasure" offers, "professional and scientific services" with more than 300 local employees currently.

Kozachik also says the expansion will help lure other Aero Space and Defense, and high-tech companies to the area. He says it, "sends a positive message to other companies who are both local and companies talking about re-locating. Saying these guys did it, let's go check Tucson out."

The company's economic impact is projected to be more than $1 billion from 2019 to 2023.

City and economic development officials say they are under a non-disclosure agreement and cannot share more information about the company, but they expect an announcement in the coming days from the company itself.