Wednesday, April 29, 2015

Plano approves millions of dollars in incentives for new Liberty Mutual campus

Construction crews have already started preparing the site for the new Liberty Mutual Insurance campus in Plano. (G.J. McCarthy/The Dallas Morning News)
Construction crews have already started preparing the site for the new Liberty Mutual Insurance campus in Plano. (G.J. McCarthy/The Dallas Morning News)
Plano’s city council on Monday night approved millions of dollars in incentives for the construction of Liberty Mutual Insurance’s new Legacy business park office campus, which will house 4,000 or more workers.
The entire process took less than 15 minutes.
“You can go fast anytime we have 4,000 jobs coming,” said Mayor Harry LaRosiliere after the unanimous council approvals.
The deal includes a $5.2 million in cash grants to the Boston-based insurance company plus 10-year tax abatements on half of the value of the $325 million office complex the company plans to build near the southwest corner of the Dallas North Tollway and State Highway 121.
“We just welcomed Liberty Mutual to Plano and 4,000 jobs to our community,” LaRosiliere said.
Developer KDC is building the more than 900,000-square-foot high-rise office project in the Legacy West development. It’s in the same area where Toyota Motor and FedEx Office are building new corporate campuses.
The first workers should start moving into the Liberty Mutual property in 2017.
Steve Brown, The Dallas Morning News