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Fintech firm, Moca Financial, has lost its bid to build a headquarters east of Austin after repeated delays and a scaled-back proposal. The project, initially announced in 2021 as a "Google-like" headquarters, was granted multiple extensions but ultimately failed to meet the required office space of 40,000 square feet. Instead, the firm submitted a reduced site plan offering just 4,000 square feet.

    The city's economic development corporation reacquired 28 acres set aside for Moca Financial after the firm defaulted on an incentives agreement that would have reimbursed up to $900,000 for purchasing the property. The EDC has since issued a notice of default, effectively ending the project.

    The reclaimed land is now being weighed as a potential site for a sports complex, with Chicago-based Hundan Partners conducting a feasibility study. Bastrop City Manager Sylvia Carrillo emphasizes that any future development must create jobs and strengthen ties with local educational institutions. "We're looking for companies that have a good return on investment for our residents and students," she said.

    The project's collapse is a setback for Moca Financial, whose president is Bastrop-based real estate developer John Adrian Burns. However, the industrial park remains active, with other companies like Acutronic USA and LS Electric Co. Ltd. established in the area. The city is optimistic that the reclaimed land will soon find a new purpose aligning with its economic growth plans.