State Farm moving to Dallas? (Plano, Irving: real estate, 2014, apartments)

[scottykick]

So what are the locals thoughts on this move?

Like a Good Neighbor, State Farm Flees Illinois

[CREW747]

Texas has seriously become a major hot spot for businesses to relocate to.Good choice State Farm....

[lpepping]

They are also expanding in Phoenix.

[Cowboys fan in Houston]

Originally Posted by lpepping

They are also expanding in Phoenix.

...and Atlanta. They aren't moving the HQ, just adding a bunch of jobs to the region which is a great thing.

[Big G]

I have to believe it's very hard for them to recruit educated professionals to move to Bloomington, IL.

Dallas, Atlanta, and Phoenix should all be easier sells.

It's a hassle and a half administratively to relocate an insurance company from State A to State B, but the tax benefits may outweigh the costs associated with the relo.

[L.A.2Orlando2Dallas]

All I can say is close to 100 people have already relocated to Dallas from other states and most of them are not from Illinois, Atlanta is also seeing an influx from other states.

[rantanamo]

There's this:

State Farm will anchor major new mixed-use transit development in the works for Richardson

Update 1:15 p.m.

Officials with State Farm Insurance confirm that the Illinois-based firm will be an anchor office tenant in developer KDC’s planned $1.5 billion development in Richardson.

In recent months, State Farm has leased about 300,000 square feet of office space in Richardson and another 400,000 square feet of offices in Irving’s Las Colinas community.

The big insurer also has a large office on Preston Road in Far North Dallas.

Real estate brokers say that the planned State Farm regional office complex that KDC will build in Richardson will total more than 1 million square feet and will be used to consolidate operations now located in North Texas and elsewhere.

“State Farm signed short term leases in Dallas this year,” said spokesperson Patti Kelly. “By entering into this lease, we are looking more long term as we work to serve multiple customer needs in Texas and across our company.

“The operation will be staffed with a combination of existing and new employees.”

State Farm officials did not provide details about how many people will work in the new Richardson campus or when it will be completed.

“We continue to finalize plans for use of our space in this development,” Kelly said.

Original post:

Dallas developer KDC has quietly been working behind the scenes on what will be one of the largest new mixed-use developments in North Texas.

Last night the Richardson City Council approved zoning for the 186-acre project which will be built adjoining the Bush Turnpike DART rail station at Plano and Renner roads.

The project – now vacant land – is planned to include office buildings, apartments, hotels, medical facilities and retail space.

The development will be built just east of North Central Expressway and south of State Highway 190. It’s located north of the big Galatyn Park complex in Richardson.
Construction on the first phase of the complex is expected to begin next year.

“We started out with a vision of what this property could be and worked alongside the City of Richardson to make it happen,” KDC chief executive officer Steve Van Amburgh said in a statement. “The development will have a great mix of amenities in a pedestrian-friendly environment that is inviting to corporate users and the community. The transit-oriented development will be an outstanding addition to Richardson’s vitality.”

KDC is one of the area’s largest commercial builders. The company has specialized in corporate facilities for clients including Blue Cross and Blue Shield of Texas, Citigroup and Encana Oil & Gas.

KDC is also working on a new office tower in the Victory Park development near downtown Dallas.

“KDC has been a tremendous development partner in Richardson, and we are excited about this rezoning, which lays the groundwork for a major development at this very important crossroads to serve the entire North Texas region,” Richardson Mayor Bob Townsend said in a statement. “We are fortunate to have a partner with the experience and ability that comes with KDC’s involvement in the development of the site.”

State Farm will anchor major new mixed-use transit development in the works for Richardson | Biz Beat Blog

[jdallas]

Originally Posted by Big G

I have to believe it's very hard for them to recruit educated professionals to move to Bloomington, IL.

Dallas, Atlanta, and Phoenix should all be easier sells.

Are you being serious or do you just not know much about Bloomington?
The only reason they are making the move is because of how unfriendly the Illinois legislature is being toward corporations.

[First24]

FWIW, State Farm's CEO & Chairman, Edward Rust Jr, attended SMU and joined State Farm in Dallas.

[BigDGeek]

Originally Posted by rantanamo

There's this:

State Farm will anchor major new mixed-use transit development in the works for Richardson

State Farm will anchor major new mixed-use transit development in the works for Richardson | Biz Beat Blog

This was big news at our neighborhood association meeting in January. Right now the new offices are scheduled to open sometime in 2014.