Plano, Texas—Simpson Strong-Tie Co., a California-based manufacturer renowned for its structural building products, is set to establish a second headquarters in Plano. The Plano City Council has approved an $800,000 economic development grant to support this expansion, which is anticipated to create approximately 300 jobs over the next decade.
Key Facts:
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Office Space: The company will lease 38,372 square feet at Granite Park 6, located at 5525 Granite Parkway.
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Initial Workforce: Plans include relocating 55 employees to the new office by the end of the year.
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Investment Requirements: Simpson Strong-Tie is committed to investing $5.3 million in renovations and expanding its workforce to 215 employees by 2029 to fully benefit from the city’s incentive package.
The decision to expand into Plano was influenced by the city's central location in the U.S. and its proximity to Simpson Strong-Tie's existing manufacturing facility in McKinney. This strategic move aims to enhance the company's ability to deliver exceptional service to customers while supporting strategic growth initiatives.
Local officials have expressed enthusiasm about the company's investment. Plano Mayor John B. Muns highlighted that Simpson Strong-Tie's decision underscores the city's business-friendly environment, talented workforce, and exceptional quality of life.
The expansion is expected to stimulate the local economy by creating high-wage job opportunities and increasing sales tax revenue through heightened consumer activity. Additionally, the company's presence is anticipated to attract further corporate investments to the region.
Simpson Strong-Tie, headquartered in Pleasanton, California, specializes in producing structural solutions for wood, steel, and concrete structures, including connectors, fasteners, and anchors. The establishment of a second headquarters in Plano marks a significant milestone in the company's growth strategy and commitment to serving its customers nationwide.
As the company prepares to move into Granite Park 6, it is focused on completing the necessary renovations and meeting the stipulated employment targets to fully leverage the city's economic incentives. The initial phase involves relocating 55 employees by the end of the year, with plans to expand the workforce to 215 by 2029.
Do You Know?
Plano has become a magnet for corporate headquarters, hosting major companies like Toyota Motor North America and Liberty Mutual, thanks to its favorable business climate and strategic location.
Key Terms:
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Economic Development Grant: A financial incentive provided by local governments to encourage businesses to invest in their community, often tied to specific performance metrics like job creation and capital investment.
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Granite Park 6: A 19-story office tower in Plano offering modern amenities, including a market café, fitness studio, and conference centers, designed to attract corporate tenants.
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Structural Building Products: Components such as connectors, fasteners, and anchors used in construction to ensure the stability and integrity of buildings and other structures.