City of Austin

AUSTIN, TX — Austin City Council has approved the first two incentive awards under the Place-Based Enhancement Program, a Chapter 380 initiative designed to strengthen local, creative, and legacy businesses by supporting their expansion and long-term stability.  

Balance Dance Studios, a performing arts company focused on children's dance, was awarded an incentive to support their $10.5 million investment in a 33,000-square-foot expansion of their South Austin operation. The project includes a new performance theater, green rooms, and multi-use spaces to support performing arts productions, youth programs, childcare, educational workshops, and community events. 

The Hideout, a beloved 25-year legacy coffeeshop and improv theatre, will receive an incentive to support its $700,000 investment in tenant improvements and equipment associated with its relocation. 

Balance Dance Studios will receive up to $540,000 over ten years, tied to its City tax impacts. The Hideout will receive up to $160,000 over ten years to support its relocation and continued operations. Through the Place-Based Enhancement Program under the City’s Chapter 380 policy, these awards help sustain locally owned creative businesses that anchor Austin’s identity and support jobs, cultural activity, and community programming. 

“Austin is home to incredible talent, creativity, and entrepreneurship,” said Anthony Segura, Interim Director of Austin Economic Development. “These are cherished local businesses with strong roots in Austin, and we are proud to encourage community-oriented policies that combine economic growth and tourism with prosperity for our legacy businesses and creative spaces.”   

About the Place-Based Enhancement Program
Approved by City Council in 2024, the Place-Based Enhancement Program supports the development of affordable commercial space in underserved areas and the expansion and preservation of local small, creative, and legacy businesses. Applications are accepted on a rolling basis with no deadlines. 

The program is administered by Austin Economic Development’s Business Incentives and Expansion Division, which works to attract investments, retain and grow local businesses, and create jobs across Austin, while preserving the cultural identity that makes the city a creative and economic hub. 

Businesses interested in applying can visit the Austin Economic Development Business Incentives website and complete the Incentive Inquiry Form to schedule a meeting with staff. 

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About Austin Economic Development 
Austin Economic Development supports business growth, creative industries, and local communities. These programs build an equitable, sustainable economy to improve the lives of all Austin residents. To learn more, subscribe to our newsletter or connect with us @AustinEconDev on Facebook, @AustinEconDev on X, and @AustinEconDev on YouTube.   
 
Sobre la Secretaría de Desarrollo Económico de Austin  
La Secretaría de Desarrollo Económico de Austin apoya el crecimiento empresarial, las industrias de la fuerza laboral y las asociaciones comunitarias locales que ayudan con el crecimiento económico y con nuestra identidad. Estos programas fomentan una economía equitativa y sostenible para mejorar la calidad de vida de todos los residentes de Austin. Para obtener más información, suscríbase a nuestro boletín o conéctese con nosotros en @AustinEconDev en Facebook, @AustinEconDev en X  y @AustinEconDev en YouTube.