Buda announces agreement to bring Deep Eddy Vodka to town
Deep Eddy Vodka, an Austin-born company known for its flavored liquor, has announced plans to relocate its distillery and operations base to Buda.
At the Sept. 20 Buda City Council meeting, council members voted unanimously to adopt an economic development agreement between Deep Eddy, its parent company Heaven Hill and the Buda Economic Development Corporation. The entire deal is dependent on Hays County’s approval of an economic development incentive package, which county commissioners were going to discuss in early October, Buda EDC Director Ann Miller said.
Assuming Hays County approves an agreement with the company, Deep Eddy will move its operations to an existing building at 150 Precision Drive, Buda. The building has been vacant for approximately two years, and at 194,000 square feet, is more than five times the size of Deep Eddy’s current Dripping Springs location.
Buda’s agreement with Deep Eddy Vodka will allow a 40 percent rebate on city property taxes paid on the new net value of taxable property, estimated at $80,000. The Buda Economic Development Corp. is providing $400,000 in cash incentives to the project. That includes $265,000 to assist with building upgrades and improvements, $110,000 for construction of a water line that will serve the project and adjacent properties, and a $25,000 cash incentive if the company opens a tasting room facility in the city of Buda.
The company will keep its tasting room at its current location in Dripping Springs, but Buda’s agreement with the company includes a small incentive for the company to open a tasting room in the city eventually.
According to a Buda press release, Deep Eddy approached the city nearly seven months ago, saying their current facility was too small to accommodate the company’s growth.
“I couldn’t be happier that Deep Eddy has chosen Buda for its new expanded facility,” said Mayor Todd Ruge. “This is a victory for the City of Buda and Hays County.”
Deep Eddy will retain all 40 of its existing jobs, and plans to add at least 20 new jobs over the next 10 years. Renovations on the building will start later this year, and the company expects to begin full operations in Buda by early 2017.
“I’m thrilled that Deep Eddy will remain in Hays County and that all existing jobs will be retained,” said City Manager Kenneth Williams in a press release. “The company is a welcome addition to the City of Buda.”