Credit Human, the former San Antonio Credit Union, is moving downtown.
News Radio 1200 WOAI reports City Council today joined Bexar County Commissioners in approving a tax abatement plan for the company to move its offices from NW Interstate 10 at Crossroads to Broadway just northeast of the Pearl project.
"We are excited that Credit Human wants to bring those jobs and expand by another fifty jobs," said Eddie Romero of Centro San Antonio, the downtown development group. "This is an area that has momentum, but is still in need of more public and private investment."
Credit Human, which changed its name because it wants to expand its financial operations outside of San Antonio, will move into a 10 story building in the 1800 block of Broadway, just north of Pearl Parkway.
Credit Human's move will add more private sector jobs to a part of the city which is already developing other types of businesses.
"The Pearl is helping retain and attract talented professionals," Romero said. "This includes local culinary creators, musicians, artists and entrepreneurs. This is a destination location, and it is also a gathering place for people in the community."
Councilman Greg Brockhouse, who had been speaking out against tax breaks for private companies, supported the move, saying the agreement will benefit the entire community. He pointed out that the need for local government incentives indicates the city fees and regulations that sometimes retard the growth of small and large businesses.
Councilwoman Ana Sandoval expressed concerns about traffic congestion in the area, especially since there are plans to reduce vehicular traffic on lower Broadway as part of the recently approved bond issue.
The Credit Human headquarters will also mean more parking for the area, as well as a financial services location in an area that does not have many financial locations, and the opportunity to lease out office space for other companies