American HQ To Cypress Waters In Dallas

Kimberly Reeves, Bisnow

Incentives Lure Nokia's North American HQ To Cypress Waters In Dallas

Nokia plans to move its North American headquarters to Dallas and consolidate more than 2,000 North Texas employees at Cypress Waters in a deal sweetened by a $4.8M incentive package approved by the city council last month.

The employees will be coming from the Los Colinas community, which is in Irving, and Plano. While the company’s move from Las Colinas to Dallas is only a 10-minute drive, it is a major blow for Irving, which prides itself on its ability to attract Fortune 500 companies such as NEC Corp. and Blackberry, as well as Citigroup and Verizon. At least one Irving council member is protesting, saying Cypress Waters is ill-equipped to handle police and fire emergencies at the new location.

“They do not have adequate employees, equipment there if anything goes wrong in Cypress Waters,” Irving City Council member Allan Meagher told NBC 5, a claim rebutted by the Dallas City Council member from that area.

Dallas City Council put together a $4.8M incentive package for Nokia, according to the Dallas Morning News. The incentive package, approved at the last council meeting in June, includes both local and state incentive funds.

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