Pizza Hut has sealed a deal to move its corporate headquarters from Addison to Plano and is planning to break ground next week, the company said Tuesday.
Pizza Hut will be moving its corporate headquarters from Addison (above) to a 20.5-acre site in Plano's Legacy Business Park. The nation's largest pizza chain, part of Louisville, Ky.-based Yum Brands Inc., and its sister division, Yum Restaurants International, will build a new "restaurant support center" on 20.5 acres in the Legacy Business Park near Corporate and Legacy drives. The building and equipment are expected to cost about $20 million – not counting the cost of the land, which Pizza Hut purchased earlier this month from Trammell Crow Co.
The company did not release the cost of the land.
The new headquarters will be a three-story building with about 170,000 square feet of office space.
The move hinged on an incentive package from Plano – its largest ever – that gives Pizza Hut grants and tax breaks of more than $2 million. That includes economic development grants for costs such as relocation and construction of a new test kitchen, said Sally Bane, executive director of the Plano Economic Development Board. Pizza Hut also will receive property tax breaks through 2021.
Plano is hoping Pizza Hut's arrival will spur new economic activity, as at least 450 jobs move to town.
With the new workers visiting local restaurants and other businesses, "there are a lot of other businesses in town that are going to prosper by having Pizza Hut as a neighbor," said Plano Mayor Phil Dyer.
The lease on the current headquarters expires Dec. 31.
Dallas Morning News
Monday, February 22, 2010
Subscribe to:
Post Comments (Atom)
It is nice to hear that the development of our technology is very beneficial because of developing such gadgets that make our daily work as well as needs easily and automatic.
ReplyDeleteThis is usually a marvelous. What is a lot more appropriate and pertinent than articles inspired by way of people's weblog opinions? Thanks with regard to aiming of which out.
ReplyDeleteI'd personally exhibit that individuals readers are quite successful to stay in a superb area because there are many attractive those with advantageous issues. I'm really fortunate to get encountered your whole web sites and check to a lot more pleasant min's looking through right here. Thank you regarding anything.
ReplyDeleteHi there I came upon your site by accident after i checked AOL to do this topic, I must say an individual's site can be very helpful I additionally enjoy the concept, it is gorgeous!
ReplyDeleteI am making a new blog and I am struggling to make it appear good, and supply good quality subject matter.
ReplyDeleteAn information on the moving of corporate office of pizza hut to Plano. A must read on the real estate market and how it affects the top notch.
ReplyDeleteyou'll be able to browse these homes available in Sylvan Lake Houses For Sale ,Canadian province to find the good house! read virtual tours, send my listings to family and friends, and use my exciting area search!
ReplyDelete