The City of Plano has approved an incentive package for AT&T as it starts making plans for its workers to move into the former headquarters of Electronic Data Systems (shown). The $1.35 billion project means the company will become Plano’s second-largest employer, behind JPMorgan Chase.
Under the agreement, Plano would provide up to $20 million in city-funded grants, including $10 million for redevelopment and $10 million for job creation. Additionally, another agreement details a 65% property tax rebate that would last for 25 years.
In return, AT&T would be required to build at least 2 million square feet of space and invest a minimum of $1.35 billion in construction costs and bring in up to 10,000 full-time equivalent jobs.
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