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The City of Plano has signed off on an incentive package aimed at supporting AT&T as the company prepares to move employees into the former Electronic Data Systems headquarters campus. The initiative is tied to a planned $1.35 billion project that would position AT&T as Plano’s second-largest employer, trailing only JPMorgan Chase in the local employment base.
According to the agreement, Plano is prepared to offer up to $20 million in city-funded grants to support the move and related investment. The grant structure is split between $10 million earmarked for redevelopment work on the site and $10 million dedicated to job creation. These direct incentives are designed to complement AT&T’s substantial planned capital investment in the property and the surrounding operations.
In addition to the grant funding, the package includes a separate agreement providing for a 65% rebate on property taxes. This rebate is structured to run for a 25-year term, creating a long-duration incentive framework aligned with AT&T’s long-term occupancy and employment commitments in Plano. The structure underscores the city’s willingness to trade a portion of future tax revenues for large-scale corporate investment and job growth.
In exchange for these incentives, AT&T would be obligated to meet a defined set of development and employment benchmarks. The company would be required to construct at least 2,000,000 square feet of space as part of the project, reflecting a major office commitment at the former Electronic Data Systems campus. AT&T must also invest a minimum of $1.35 billion in construction costs associated with the redevelopment and build-out.
The agreement further calls for AT&T to bring in up to 10,000 full-time equivalent jobs to the Plano location. This employment target, combined with the scale of the planned square footage and capital investment, signals a significant concentration of office activity tied to a single corporate user. For Plano, the package formalizes a long-term relationship with a major employer and repurposes a former corporate headquarters asset for renewed large-scale office use.
The incentive arrangements and performance requirements together frame a substantial public-private commitment, with the city using targeted grants and a multi-decade property tax rebate to secure a major corporate presence and associated economic activity at an established office campus.
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