California-Based Manufacturer Expands to Plano, Texas
A California-based manufacturer is opening a second headquarters in Plano and could receive an $800,000 economic incentive from the city. Simpson Strong-Tie Co., a firm that produces structural building products like screws and nails, will lease more than 38,000 square feet at 38,372 square feet at Granite Park 6 (5525 Granite Parkway). The company plans to move in by the end of the year.
Expansion and Job Creation
The company said in a news release that the expansion will create roughly 300 jobs over the next decade, establishing the site as a second “home office” alongside its current base in Pleasanton, Calif. This move is expected to have a significant impact on the local economy, providing new opportunities for employment and growth.
“With its central location in the U.S. and close proximity to our McKinney, Texas branch and manufacturing facility, this new home office will allow us to continue to deliver exceptional service to our customers while supporting the company’s strategic growth,” Mike Olosky, President and CEO of Simpson Strong-Tie, said in a statement. “This expansion reinforces our dedication to providing industry-leading solutions and building even stronger relationships with the communities we serve.”
Economic Incentive Agreement
Plano City Council approved an economic development incentive agreement for the firm Monday. Simpson will receive the incentive if the firm occupies the space, employs 50 local employees and makes $5.3 million in renovations by the end of 2025. By 2029, Simpson must also employ an additional 165 full-time employees and occupy another 9,870 square feet of office space at the site.
“We are thrilled to welcome Simpson Strong-Tie to Plano as they expand their company operations to Texas,” Mayor John B. Muns said in a statement. The city is committed to supporting the growth and development of businesses in the area, and this agreement is a testament to that commitment.
Development and Construction
CBRE will manage the Simpson Strong-Tie build-out on the 11th and 12th floors, working with OTJ Architects and general contractor Pacific Builders. Granite Properties developed Granite Park 6 in partnership with North Carolina-based Highwoods Properties. The development is a significant addition to the local business community, providing state-of-the-art facilities and amenities for companies like Simpson Strong-Tie.
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Conclusion
In conclusion, the expansion of Simpson Strong-Tie Co. to Plano, Texas is a significant development for the local business community. The company’s commitment to creating jobs and investing in the area is a testament to the city’s attractive business environment. With the support of the city and the state, Simpson Strong-Tie is poised for continued growth and success in the years to come.
FAQs
Q: What is Simpson Strong-Tie Co.?
A: Simpson Strong-Tie Co. is a California-based manufacturer of structural building products like screws and nails.
Q: Where is Simpson Strong-Tie Co. expanding to?
A: Simpson Strong-Tie Co. is expanding to Plano, Texas, where it will lease over 38,000 square feet of space at Granite Park 6.
Q: How many jobs will the expansion create?
A: The expansion is expected to create roughly 300 jobs over the next decade.
Q: What is the economic incentive agreement between Simpson Strong-Tie Co. and the city of Plano?
A: The economic incentive agreement provides for an $800,000 incentive if Simpson Strong-Tie Co. occupies the space, employs 50 local employees, and makes $5.3 million in renovations by the end of 2025.
