Telecommunications giant AT&T announced Monday that the company will be constructing a new 1.8 million square foot global headquarters in Plano, leaving its longtime downtown Dallas location.
WFAA reports that AT&T CEO John Stankey informed employees that the new headquarters in Plano will be large enough to consolidate the company’s three campuses in the Dallas area into one.
One of North Texas’ largest employers, studies have shown that the closure of the downtown Dallas facility may lead to a 30 percent decrease in property taxes, $2.7 billion drop in property value, and $62 million loss in property tax revenue.
Many believe that the cause of the move is downtown Dallas’ high crime rate and its increasing homelessness problem.
The announcement came after months of speculation following the move of AT&T’s San Antonio campus to one of the city’s western suburbs.
At the time of the San Antonio campus re-location, a spokesperson from AT&T told The Dallas Express that the move is part of a companywide initiative to optimize its real estate footprint, modernize its facilities, and enhance collaboration and functionality across its workspaces.
AT&T is aiming to partially occupy the new facility in Plano by 2028.
