The Plano City Council is set to vote Monday on a $2 million economic incentive package to woo Pizza Hut from its current Addison headquarters location to a new facility to be developed in Plano. The new development would be part of the Legacy business park in West Plano.
In my opinion, this is a great play by the city of Plano. Plano has done an exceptional job of attracting corporate headquarters to its fair city, and this is another shining opportunity. The Pizza Hut relocation comes complete with approximately 450 high paying jobs and will provide a boost to the Plano economy.
Even though the relocation distance from their current location on the Dallas North Tollway in Addison, the move to Plano should serve as a nice stimulus to property values in West Plano. The additional jobs will create additional residential housing demand in the neighborhoods in close proximity to the Legacy Business Park. The move will not happen immediately. The current lease on the Pizza Hut headquarters expires in 2010, and Pizza Hut will have to ready its new facility before making the move.
Kudos to the city of Plano who in the past year has attracted approximately 20 companies and over 4,500 new jobs in the midst of the largest economic downturn our country has faced in many decades. No recession in Plano – keep gowing!!
For more information on this story, please see the Dallas Business Journal article – Pizza Hut Incentives on Plano’s Agenda.