Re: Corporate Relocations/Expansions
Posted: 08 Aug 2021 16:19
Sounds very vague..
cowboyeagle05 wrote:Well some will just write it off as liberal media attacking successful conservative states. What matters at the end of the day is if the corporate execs actually believe that those issues will actually affect their corporate bottom line and potential for bonuses. In press releases the PR talks up the talking points but at the end of the day execs want to know that they will continue to get their bonuses for meeting profit goals.
A mobile infrastructure consulting company that helps operators expand and improve wireless networks is relocating its U.S. headquarters to Allen, creating 218 new jobs.
MD7 LLC will invest $6.8 million in its U.S. hub, according to Texas Gov. Greg Abbott. In return, the state will award the company a $773,000 grant from its deal-closing Enterprise Fund. That includes a $10,000 veteran-created job bonus.
The company, founded in 2003, previously listed San Diego as its U.S. headquarters. MD7 provides mobile network operators in more than 20 countries with services ranging from site acquisition and lease management to data and processes.
“I am proud to welcome MD7′s headquarters to North Texas and excited for the job opportunities created through this project for veterans and other hardworking Texans,” Abbott said in a statement. “The relocation of [its] headquarters will have a positive impact not only on the city of Allen, but the entire state of Texas.”
Fort Worth is considering a project by an electric auto company that would bring more than 7,000 jobs and mean an investment of $5 billion, according to a new document.
Rivian, which has backing from Amazon.com and Ford, would be able to produce 200,000 vehicles a year and create at least 7,500 jobs by 2027, according to an Aug. 10 presentation by the City of Fort Worth’s Economic Development Department to the City Council. It's a "proposed economic development program agreement with Rivian Automotive" or affiliate...
...A number of states and cities are still under consideration, but the Texas site has become the front-runner for Rivian, according to people familiar with the matter, a Bloomberg report said. Rivian, and in particular Chief Executive Officer R.J. Scaringe, had previously been keen on a location in Arizona but concerns were raised around the available infrastructure, the people said, according to Bloomberg. No final decision has been made, and it could be some weeks before a deal with one of the cities or states, the people said...
Oatly Inc., the world’s largest oat drink company, will put a new manufacturing center in Fort Worth that will create 100 jobs.
The 25-year-old Swedish producer of oat alternatives to milks, ice cream, yogurt, cooking creams and spreads will set up its new facility at 7550 Oak Grove Road. The 280,000-square-foot manufacturing center is expected to be completed in 2023.
The Fort Worth facility will produce an estimated 150 million liters of oatmilk annually, giving it the largest footprint of the company’s three North American facilities. Oatly also has plants in Millville, N.J., and Ogden, Utah. A site selection firm in Freehold, N.J., Atlas Insight LLC, helped Oatly decide on Fort Worth.
“We’re excited to break ground on this factory in Fort Worth, which we believe will allow us to meet the growing demand for Oatly’s products and grow our positive impact on the planet,” said Oatly North American president Mike Messersmith in a statement.
FORT WORTH — Fort Worth city officials have approved a $440 million package of tax incentives for electric vehicle manufacturer Rivian Automotive, saying the company's proposal to build a $5 billion factory would forever change the landscape of the once-rural western side of the city.
In return, Rivian would create 7,500 jobs by 2027, which would make it one of the largest employers in the Dallas-Fort Worth region. The California company is looking at several cities for its proposed manufacturing plant, although Fort Worth is considered a front-runner...
..."With an anchor tenant like Rivian that is technology-focused, forward-thinking and really building for the future, you're going to attract like-minded businesses and offices that want to have corporate campuses near a hub of technology," Greg Miller, a spokesman for the Walsh Companies, said in a phone interview after the City Council vote.
he City Council on Tuesday unanimously approved the tax breaks for Rivian or its affiliate without discussion. The move includes creation of a tax abatement reinvestment zone, which clears the way for Tarrant County, Parker County or other government entities to offer incentives as well.
The Walsh development straddles the Tarrant-Parker county line.
The project also will be submitted as a potential Texas Enterprise Zone project, making it available for further state funding.
The city's tax breaks is the equivalent of 85% of maintenance and operations property taxes over 15 years...
Multinational infrastructure consulting firm AECOM — a driving force behind projects including high-speed rail and the proposed hyperloop in Texas — will relocate its global headquarters to Dallas from Los Angeles in the latest Fortune 500 leap to the Lone Star State.
AECOM CEO Troy Rudd and select corporate leaders will join more than 1,200 AECOM professionals based at the company’s existing Dallas office at 13355 Noel Road, Suite 400, and other offices across Texas, according to a news release from the company.
The engineering giant has 47,000 employees worldwide and its professional services business had revenue of $13.2 billion in 2020...
Xcelerate Auto, a fintech that focuses on the electric vehicle market, is moving its headquarters to McKinney with a boost from the McKinney Economic Development Corporation’s (MEDC) Innovation Fund.
Xcelerate’s home base will sit on Davis Street at Dallas-based Common Desk’s newest coworking space, where a number of other tech companies are also looking at moving into, according to the MEDC.
Xcelerate offers funding support and ancillary products to EV manufacturers like Tesla. As a sustainable transportation company, Xcelerate focuses on consumer and commercial lending and warranty products for EVs and autonomous fleet tech.
The startups acts as an “alternative to traditional vehicle purchasing, leasing, and management.” Recently, it launched its flagship product, X-Care EV Protection, a vehicle service agreement that covers Tesla vehicles for up to 175,000 miles. According to Xcelerate, the agreement is the first of its kind.
Xcelerate aims to grow exponentially in the expanding EV market. Currently, electric vehicles make up around 2 percent of the vehicle market. But public charging and technology is continually improving—leaving “ample room” for the startup to make its mark.
The company says the sustainable vehicle market is expected to reach 233.9 million units globally by 2027. By 2025, 20 percent of all new cars sold are projected to be electric.
“We’re so excited to partner with Xcelerate Auto on their relocation to McKinney,” Mike DePaola, director of technology and research at the MEDC, said in a statement. “The Xcelerate team has been great to work with and we’re looking forward to seeing them scale.”
With the move, Xcelerate Founder and CEO K.J. Gimbel plans to offer charging infrastructure and community events to the McKinney community. He sees the area “becoming a destination for consumers and business to transition into the sustainable future.”
Gimbel and his team “can’t wait to put McKinney on the EV map.”
Addison wrote:EV Fintech Xcelerate Auto Relocates Headquarters to McKinney
https://dallasinnovates.com/ev-fintech- ... -mckinney/
Tucy wrote:Addison wrote:EV Fintech Xcelerate Auto Relocates Headquarters to McKinney
https://dallasinnovates.com/ev-fintech- ... -mckinney/
Moving from . . . Frisco, Texas
Another company that produces oat milk has revealed plans for a production facility in the Dallas-Fort Worth area.
SunOpta Inc. (Nasdaq:STKL) (TSX:SOY), a leading healthy food and beverage company focused on plant-based foods and beverages and fruit-based foods and beverages, on Aug. 19 announced further details on its new plant-based beverage facility, revealing it will be located in Midlothian.
The new production facility will initially be sized at 285,000 square feet, with the ability to be expanded to 400,000 square feet. When fully expanded, the new facility will be the largest plant in SunOpta’s Plant-Based Foods and Beverages network. This new facility, which is expected to be operational in late 2022, will bring up to 185 new high paying manufacturing and management jobs to the community. The city of Midlothian and Ellis County have approved a package of incentives, including a grant that will be awarded by upon completion of the facility and commencement of operations, and an eight-year tax abatement for a combined value of approximately $7.5 million. The new facility’s location in the Dallas-Fort Worth metropolitan area will also further SunOpta’s sustainability objectives, significantly reducing emissions through lower transportation usage.
It will operate the facility pursuant to a 15-year lease, entered into on August 13, 2021, with customary extension options. The cost of the build-out of the facility is expected to be principally lease financed, with the manufacturing equipment expected to be primarily financed under SunOpta’s existing delayed draw term loan, which was put in place in December 2020.
“We are focused on doubling our plant-based business in the next five years and this new facility will add capacity and new capabilities to enable meeting our long-term growth goal. This new facility will give our customers added capacity to accelerate growth and will help lower their costs and our costs. This enhanced footprint will further develop our manufacturing and supply chain advantages to support growth across our business, including oat milk. The city of Midlothian is the perfect choice for us with a business-friendly local government, a skilled labor force, and a vibrant local community. In combination with our plants in California, Minnesota, and Pennsylvania, the Texas location creates a competitively advantaged, “diamond-shaped” national network. As a sustainability-oriented food company, we are excited to share that this new facility is estimated to annually eliminate over 15 million freight miles from our supply chain,” said Joe Ennen, Chief Executive Officer.
SunOpta has a customer base that includes Starbucks, Target, Whole Foods Market, and other retailers.
Addison wrote:Tucy wrote:Addison wrote:EV Fintech Xcelerate Auto Relocates Headquarters to McKinney
https://dallasinnovates.com/ev-fintech- ... -mckinney/
Moving from . . . Frisco, Texas
LOL!!! The article definitely omitted that.
A sizable tech-related company in Florida has moved to the Dallas area – and is investing millions locally.
Likewize, which went by Brightstar until a recent rebranding, shifted it global headquarters to Southlake on the eve of 2021 and is ramping up other operations in the region, CMO Jeremy Dale said in an interview.
The company is investing roughly $25 million in North Texas and that includes a fulfillment center in Flower Mound and its efforts in Southlake. LikeWize will be moving its call center to Southlake as well.
The company, which has about 4,000 employees globally, has an annual revenue of more than $5 billion. Operating in over 30 countries, it’s looking to improve its position as a company, and North Texas was the right spot for it.
“Dallas is one of the fastest-growing tech centers in the country,” Dale said. “It's in the middle of the country so it works great for us from a distribution point of view. It’s by the airport, so obviously it's important for us, getting to our customers in the country, but also globally.”
Dale noted some clients are in the region as well.
The company is slated to have about 650 employees locally by the middle of next year.
“We anticipate growing toward 900, even 1,000, within another 12, 18 months after that,” Dale said...
Addison wrote:So much for those folks who seemed so sure our elected officials wouldn't negatively impact business activity with their far-right extremist laws:
https://www.theguardian.com/us-news/202 ... ortion-law
Addison wrote:So much for those folks who seemed so sure our elected officials wouldn't negatively impact business activity with their far-right extremist laws:
https://www.theguardian.com/us-news/202 ... ortion-law
potatocoins wrote:Addison wrote:So much for those folks who seemed so sure our elected officials wouldn't negatively impact business activity with their far-right extremist laws:
https://www.theguardian.com/us-news/202 ... ortion-law
So SalesForce will still stay in Texas? I wonder how many will actually end up taking them up on this offer?
Trax – a tech firm in the logistics and transportation industry – put its headquarters in Austin in 2019 after a merger between a couple of companies located in other states.
While the home of South by Southwest is the destination of many corporate hubs, this relocation didn’t stick. Challenges for Trax included the costs, especially with housing, according to Josh Bouk, chief revenue officer at the firm.
With some of the biggest names in Silicon Valley employing thousands in Austin, competing for key hires wasn’t exactly cheap.
A new HBO miniseries based out of Texas will no longer be filmed in the state because of its new abortion law, the showrunner said Monday.
David Simon, who created the critically acclaimed series “The Wire,” is now looking for suggestions for filming locations for the new nonfiction show.
“This is beyond politics,” Simon said on Twitter on Monday. “I’m turning in scripts next month on an HBO non-fiction miniseries based on events in Texas, but I can’t and won’t ask female cast/crew to forgo civil liberties to film there. What else looks like Dallas/Ft. Worth?”...
In a statement, Tarrant County spokesperson Bill Hanna said the county is working with Rivian “to finalize some of the information necessary to complete our tax abatement agreement documents.”
“Tarrant County is excited to still be a finalist for the location of the Rivian manufacturing facility,” Hanna said in the statement. He added that the tax break will be back on the county commissioners’ agenda at some point after next week’s meeting.
Where else did you consider opening a second headquarters?
We considered Denver. We considered Nashville. We considered Austin.
What ultimately put DFW, and Dallas specifically, over the top?
Those are all markets that we either do business in or are looking to do business in. For us, Dallas was the best combination of geography, airlift capacity, and — you’ll laugh — but of weather. If you take out summers, the rest of the year in Dallas is pretty mild, putting you at a great advantage over many cities in the United States.
texasstar wrote:I've heard several analysts today discussing Tesla's 3rd Qtr blow-out production numbers speculate that at the next Shareholders meeting the company will announce it will be relocating its headquarters to Texas. (Presumably Austin where it is currently completing a massive GigaFactory.)
Snagging what is inevitably going to be the largest automaker in the world for Texas would be a spectacular get indeed.
https://insideevs.com/news/538297/tesla-moving-headquarters-texas/
Will you quantify what’s in the business development pipeline in terms of possible relocations or expansions into downtown Dallas?
There are multiple 50,000- to 100,000- to even 200,000-square-foot deals that are circling in our market right now. We have development interest from mixed-use developers in other markets who are looking at significant parcels in the downtown. We have 86 acres of developable land in our downtown which is unlike any other major city in the country, so the attractiveness to be able to come in and either build new and build new districts like what we'll see in the Field Street District or come in to some of our beautiful towers and backfill space at an affordable rate in Class A property positions us really well in addition to all of the external factors that would draw someone to the market. We're definitely seeing the fruits of that.
Tnexster wrote:Downtown Dallas in the running for multiple big relocations, expansions
https://www.bizjournals.com/dallas/news ... 6#cxrecs_sWill you quantify what’s in the business development pipeline in terms of possible relocations or expansions into downtown Dallas?
There are multiple 50,000- to 100,000- to even 200,000-square-foot deals that are circling in our market right now. We have development interest from mixed-use developers in other markets who are looking at significant parcels in the downtown. We have 86 acres of developable land in our downtown which is unlike any other major city in the country, so the attractiveness to be able to come in and either build new and build new districts like what we'll see in the Field Street District or come in to some of our beautiful towers and backfill space at an affordable rate in Class A property positions us really well in addition to all of the external factors that would draw someone to the market. We're definitely seeing the fruits of that.
Just a few months ago, drawn by the promise of low taxes and light regulation, some of the largest banks and asset managers in the U.S. were ramping up their flight from the coasts.
Then Governor Greg Abbott signed a law banning state investments in firms that cut ties to oil and gas and another blocking local governments from working with banks that limit their lending to gun companies. That halted business for some top municipal-bond underwriters. JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc. and Goldman Sachs Group Inc. have all stopped muni underwriting in the state, at least for now.
Tnexster wrote:Vanguard says Dallas will be the location of its 5th U.S. office as competition in D-FW heats up
The office will be focused on its adviser business.
https://www.dallasnews.com/business/ban ... -heats-up/Vanguard is the latest financial company to be lured to Dallas by its talented workforce.
The Valley Forge, Pa.-based global investment management giant will establish its fifth U.S. office in Dallas. The office will focus on its advice businesses, including its Personal Adviser Services, which manage $231 billion. The new office isn’t intended for in-person client meetings as Vanguard’s Personal Adviser Services work via phone, email and videoconferencing.
The physical space will open in 2022, with employees working remotely until then. The company said it’s exploring real estate options and will disclose hiring and staffing plans in coming months. Vanguard has about 15,500 employees in the U.S.
Tucy wrote:Tnexster wrote:Vanguard says Dallas will be the location of its 5th U.S. office as competition in D-FW heats up
The office will be focused on its adviser business.
https://www.dallasnews.com/business/ban ... -heats-up/Vanguard is the latest financial company to be lured to Dallas by its talented workforce.
The Valley Forge, Pa.-based global investment management giant will establish its fifth U.S. office in Dallas. The office will focus on its advice businesses, including its Personal Adviser Services, which manage $231 billion. The new office isn’t intended for in-person client meetings as Vanguard’s Personal Adviser Services work via phone, email and videoconferencing.
The physical space will open in 2022, with employees working remotely until then. The company said it’s exploring real estate options and will disclose hiring and staffing plans in coming months. Vanguard has about 15,500 employees in the U.S.
So Vanguard's new "Dallas" office is going to be in . . . Plano! They are taking a block of space in the Liberty Mutual complex in Legacy West. Vanguard is taking three floors (about 100,000 square feet). Liberty Mutual has had more than 300,000 square feet in the complex up for sublease.
https://www.dallasnews.com/business/rea ... al-office/
Addison wrote:Tucy wrote:Tnexster wrote:Vanguard says Dallas will be the location of its 5th U.S. office as competition in D-FW heats up
The office will be focused on its adviser business.
https://www.dallasnews.com/business/ban ... -heats-up/
So Vanguard's new "Dallas" office is going to be in . . . Plano! They are taking a block of space in the Liberty Mutual complex in Legacy West. Vanguard is taking three floors (about 100,000 square feet). Liberty Mutual has had more than 300,000 square feet in the complex up for sublease.
https://www.dallasnews.com/business/rea ... al-office/
Did you expect anything else?
But Galderma U.S. CEO Diane Gomez-Thinnes said the company wanted a more urban office setting for its 400 headquarters workers. “What better location than a downtown location that allows our people to be inspired by not just the building they are in but their surroundings,” Gomez-Thinnes said.
tamtagon wrote:But Galderma U.S. CEO Diane Gomez-Thinnes said the company wanted a more urban office setting for its 400 headquarters workers. “What better location than a downtown location that allows our people to be inspired by not just the building they are in but their surroundings,” Gomez-Thinnes said.
So maybe the time has come that downtown has finally gained separation from the standard suburban office setting....
The Petroleum Club move follows Chase Bank’s recent announcement that it will shift its downtown offices next year to the Hunt high-rise.
The Petroleum Club plans to move to the top two floors of the 14-story Hunt Consolidated tower in January 2023.
“Arrangement for a new updated space became a paramount consideration as our growing club felt the need for further enhancements,” Jack Lafield, president of the Dallas Petroleum Club, said in a statement. “Hunt’s headquarters building is in a prime location and the club’s new quarters will be housed in a space like no other.
“This is a new era for the Petroleum Club and a new outlook for a healthy, energetic club holding proudly to a distinguished past,” Lafield said. “Partnering with such a distinguished Dallas industry family made our decision to relocate much easier.”
To accommodate the new tenants, the building’s lobby will be renovated and a new motor court will be constructed along Akard Street. Chase Bank will have a retail location in the tower.
cowboyeagle05 wrote:Well its a everything must go sale at Chase Tower.
https://www.dallasnews.com/business/rea ... rren-park/The Petroleum Club move follows Chase Bank’s recent announcement that it will shift its downtown offices next year to the Hunt high-rise.
The Petroleum Club plans to move to the top two floors of the 14-story Hunt Consolidated tower in January 2023.
“Arrangement for a new updated space became a paramount consideration as our growing club felt the need for further enhancements,” Jack Lafield, president of the Dallas Petroleum Club, said in a statement. “Hunt’s headquarters building is in a prime location and the club’s new quarters will be housed in a space like no other.
“This is a new era for the Petroleum Club and a new outlook for a healthy, energetic club holding proudly to a distinguished past,” Lafield said. “Partnering with such a distinguished Dallas industry family made our decision to relocate much easier.”To accommodate the new tenants, the building’s lobby will be renovated and a new motor court will be constructed along Akard Street. Chase Bank will have a retail location in the tower.