The proposed package includes grants, fee waivers and long-term property tax rebates

A multibillion-dollar corporate relocation that will reshape Plano’s Legacy District is now entering a critical decision stage.

City leaders are preparing to vote on a major incentive package tied to AT&T’s planned move to the Legacy District, a proposal that would reshape a historic corporate campus and anchor thousands of jobs in the city for decades to come.

A $20 Million Incentive Proposal

Plano City Council is scheduled to consider two economic development agreements on Feb. 23 that would provide up to $20 million in incentives to support the company’s relocation.

The proposed package includes a combination of grants, fee waivers and long-term property tax rebates designed to help offset development costs tied to the massive project.

In exchange, the telecom giant would take on significant obligations. City documents outline requirements that include building at least 2 million square feet of space and investing a minimum of $1.35 billion into construction.

The company would also need to establish operations at the site by Dec. 31, 2029, while creating, transferring or retaining up to 10,000 full-time equivalent jobs. The job creation grant would be distributed in stages tied to hiring milestones. The company could receive $4 million for sustaining its first 4,000 positions, another $4 million if it reaches 8,000 jobs by the end of 2034, and up to $2 million more if employment grows to 10,000 by the end of 2039.

A key piece of the proposal is a 65% property tax rebate that would last 25 years. Under the agreement, AT&T could choose to begin that rebate period in 2029, 2030 or 2031. If the company purchases the property during that timeframe, it could qualify for a 10-year extension — though the rebate rate would drop to 25% during the extension period.

A Transformational Campus Project

The incentive discussions mark the next step in a relocation plan first announced Jan. 5 by CEO John Stankey. The company intends to establish its global headquarters at a new 54-acre campus at 5400 Legacy Drive, part of the historic Electronic Data Systems site near Parkwood Boulevard.

If approved, the agreements would cement one of the largest corporate redevelopment projects in Plano’s history, further strengthening the Legacy District’s role as a major employment hub in North Texas.

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