E-Space is getting ready to pack its bags and head to Dallas-Fort Worth, joining a long list of companies to have planted a flag in the region in recent years.
The satellite communications company is on the brink of obtaining approval from Arlington City Council to develop a 750,000-square-foot facility, serving as a manufacturing plant and its U.S. headquarters, Bisnow reported, citing the Fort Worth Report.
E-Space is expected to enter a public-private partnership with Arlington, facilitated by the city’s economic development corporation. This partnership would provide up to $50 million in municipal bond proceeds to aid in the development. Upon completion, the city would lease the facility to E-Space at a base rent of $2 million annually.
The project is projected to generate over 3,000 jobs and contribute more than $8 billion in taxable wages over its 30-year lease term. Following this period, E-Space would have the option to renew the lease, with a 3 percent rent increase every five years.
The initial phase of construction is slated for completion by late 2026. In the interim, E-Space intends to lease an existing building in Arlington — situated between Dallas and Fort Worth — to commence its North Texas operations and workforce development.
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E-Space’s European headquarters are located in France. In the U.S., it’s currently co-headquartered in Beverly, Massachusetts and Saratoga, California.
North Texas’ booming population growth and skilled workforce has attracted a slew of companies in recent years. Last year, Landsea Homes announced plans to relocate its headquarters from Newport Beach, California to Uptown Dallas. Kelly-Moore Paints is also jumping ship from California to Dallas-Fort Worth.
Plus, Goldman Sachs and Wells Fargo are both building $500 million regional campuses in the region, which are expected to generate about 8,000 jobs in total.
—Quinn Donoghue