Exciting Changes Coming to Georgetown with TSS Relocation!
Georgetown is buzzing with news this week as Total Site Solutions Inc. (TSS), a rising star in the data center services industry, is making significant moves! The company is all set to relocate its headquarters from Round Rock to a snazzy new spot near the Georgetown Municipal Airport. In an exciting twist, TSS has decided on a beautiful, spacious location in the expansive Georgetown Logistics Park, which boasts a whopping 213,000 square feet of prime space!
What Sparked the Move?
This latest decision, announced on December 5, is part of TSS’s ambitious strategy to keep up with the skyrocketing demands of artificial intelligence (AI) technologies. In fact, CEO Darryll Dewan shared that they’ve officially signed a multiyear lease for this new site, which is expected to be operational by early next year. Dewan explains, “Continuing our rapid growth trajectory was centered around two key drivers,” highlighting their newly established long-term agreement with a primary customer as a critical factor.
A Look at the Details
Before settling on this new location, TSS had previously eyed another site—a 169,000-square-foot building at the Blue Springs Business Park. However, after evaluating their options, they opted for the larger and more strategic Georgetown Logistics Park, developed by StoneLake Capital Partners LLC. TSS’s Chief Financial Officer, Danny Chism, expressed excitement about the new site stating, “We were thrilled to deal with a landlord that was cooperative and solution-oriented.”
What About Those Incentives?
Now, here’s where things get a tad tricky. TSS was previously approved for a wonderful $550,000 incentive package by the Georgetown City Council. These incentives included a 10-year, 25% property tax abatement, plus a $200,000 grant aimed at funding infrastructure improvements. But with this new pivot to a different site, it’s still unclear how these incentives will play out. TSS may need to navigate the process all over again to align with this new plan.
Meeting City Requirements
As part of their agreement, TSS committed to investing a minimum of $17.7 million and providing around 150 jobs, with salaries starting at $50,000. They were also required to sign a minimum 10-year lease and kick off construction by August 2025. All of this paints a picture of a company eager to grow and adapt to the ever-evolving tech landscape!
A Bright Future Ahead
The potential of TSS is clearly evident! They’ve had a remarkable year, generating revenue of $98.2 million for the first nine months of 2024—an impressive growth of 227% compared to the previous year. Their secret sauce? A multi-year agreement with one of their largest customers for AI integration services is clearly leading the way.
Big Players in the Region
Georgetown has been on a roll, attracting a slew of manufacturers and tech firms in recent years. With a booming population nearing 100,000, it’s no surprise that the city has been dubbed the fastest-growing city of its size for three consecutive years.
Partners in Growth
For context, TSS has previously mentioned collaboration with well-known companies like Dell Technologies, a significant player in AI innovation. With such a strong network and a fresh new space, TSS is poised for greater achievements. TSS’s new facility is not just about increased space; they plan to expand their capacity significantly, allowing them to test and validate state-of-the-art cooling racks.
What Lies Ahead?
With construction anticipated to wrap up by the end of 2025, the buzz around TSS and Georgetown is just getting started. The community is watching closely as this fast-growing company continues to make its mark in the tech world. Who knows what other surprises are in store? For now, all eyes are on TSS as they embark on this exciting journey!
