Gov. Rick Perry announced on Facebook this morning that the state will give Facebook $1.4 million to open an office in Austin.
The investment will come from the Texas Enterprise Fund, a program that provides grants to companies that expand or relocate operations in Texas.
Perry says the fund has been critical in bringing jobs to the state.
U.S. Sen. Kay Bailey Hutchison and Tea Party activist Debra Medina, his opponents in the March 2 Republican primary election, have criticized the program after a study by Texans for Public Justice showed that several of the companies that received grants fell short of their job creation goals.
Perry's office said Facebook would open a sales and operations office in Austin that would create 200 jobs and more than $3.1 million in capital investment.
The agreement depends on the finalization of a local incentive agreement with the City of Austin.
Here is the full announcement.
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