The Culture of Business
The revitalization of downtown San Antonio continues with the announcement that Sigma Solutions, a local company that specializes in advanced Information Technology (IT) solutions, will relocate its headquarters downtown to the former Broadway Bank location at 425 Soledad. Once the move in is complete, the building will be known as the Sigma Solutions building.
“We are pleased to welcome Sigma Solutions to downtown San Antonio. This homegrown information technology company is one of the fastest growing private companies in San Antonio and a leader in the emerging area of cloud services,” said Mayor Julián Castro. “This is the type of high-wage, high-tech employer that is fueling rapid growth in our vibrant IT industry and increasing the momentum to add jobs and vibrancy to San Antonio’s center city.”
Sigma Solutions was recently acquired by Pivot Acquisitions Corporation, headquartered in Toronto and with a United States headquarters located in Austin, Texas. Pivot adds value to hundreds of Fortune 1000 firms across North America through acquisition of companies providing business technology and solutions and had more than $1 billion in sales in 2011. Sigma Solutions, however, will remain a separate company as a subsidiary of Pivot and will retain its headquarters in San Antonio.
“We are excited Sigma Solutions has decided to retain its corporate headquarters and 40 high-tech IT jobs in San Antonio and locate downtown with plans to add another 20 jobs,” said San Antonio City Manager Sheryl Sculley. “We welcome every opportunity to assist our local companies to expand and continue their success.”
”The City of San Antonio has proven once again that their interest in partnering with business for mutual success is second to none. We are proud to be a part of the growing IT industry in San Antonio and look forward to a bright future,” said Pivot’s Chief Operating Officer David Miller.
The City Council has approved an Economic Development Program Grant for $500,000 for Sigma, based on the company’s decision to keep their company headquarters in San Antonio and grow to 60 jobs over the next 3 years. Through its grant agreement with the City of San Antonio, Sigma must pay an average annual salary of $70,000 and remain at its new location for at least 10 years.
A Model City for all America: San Antonio
San Antonio is a model city for the new face of America—a diverse, progressive and globally competitive city with a solid vision for national and international economic development. In 2012, San Antonio was named an All-America City by the National Civic League. The City of San Antonio maintains a strong financial position with a “AAA” general obligation bond rating from all three major rating agencies. The Milken Institute has ranked San Antonio No. 1 on its Best-Performing Cities list. As the seventh-largest city in the United States, San Antonio is experiencing solid economic growth in 21st century industries such as bioscience and healthcare. Biotech companies and healthcare systems in San Antonio contribute billions to the local economy. The Aerospace industry remains a dominant economic strength in San Antonio with the presence of several aviation and aerospace corporations, including the military. The military has had a significant relationship with San Antonio for more than 200 years and is home to several military commands. The city is also a cyber security hub; nationally recognized as a leader in the field of information security. San Antonio is positioning itself to be at the forefront of the New Energy Economy in the United States, committed to investing and creating employment opportunities in green industries. The travel industry also remains a consistent growing economy for the city, as millions of people visit San Antonio on a yearly basis. For more information, visit www.sanantonio.gov.