McKinney’s innovation fund has attracted its 24th technology startup to the city with the addition of a company that aims to help automotive enthusiasts who make after-market modifications to their vehicles.
Autix Automotive Inc. works with specialty vehicle owners to document their car’s value. With a grant from the city’s economic development corporation, Autix will create at least nine new jobs over the next three years that pay an average salary of $65,000.
Jake Hamann, founder and CEO of Autix, said the company hopes to double or triple the number of jobs it will create.
“We’re hoping to create much more than that,” Hamann said. “Hopefully up to 30 jobs. That’s not guaranteed, but that’s kind of a target we’re aiming for.”
Autix is tapping into a potentially lucrative market. The Specialty Equipment Marketing Association estimated in 2019 that it’s a $45.8 billion industry. Over 32 million households make modifications to their vehicles each year, according to SEMA.
The company won a CodeLaunch DFW Startup pitch competition in November over 150 other startups. At the end of January, Autix will be recognized as a Top 100 finalist of over 750 applicants for a Startup of the Year Summit in Tampa, Fla.
Autix’s new headquarters initially will be at Common Desk McKinney Square, 300 E. Davis.
Since 2020, McKinney has used its innovation fund to attract hundreds of new jobs and emerging companies to its growing tech cluster. The fund, supported by a one-half-cent sales tax that collected an estimated $16 million in the 2020-21 fiscal year, gives companies grants to assist in relocation.
Miguel Esparza, project manager for the McKinney Economic Development Corporation, said McKinney actively networks with up-and-coming startups. He said the corporation is excited to work with Autix.
“(Hamann) has been a great partner, and we look forward to seeing him grow in McKinney,” Esparza said.