The Teachers Insurance and Annuity Association (TIAA) will build a new 500,000 square foot office complex at The Star in Frisco. The project is expected to create 2,000 new jobs.
"We are thrilled to welcome TIAA which will become one of the largest private sector employers in Frisco’s history," said Frisco Mayor Jeff Cheney.
TIAA was founded in 1918 to help teachers retire. Since then, its mission has grown to include providing retirement and financial services to other employees in academia, government employees and workers at non-profit organizations. It's now one of the companies in the Fortune 100.
Mayor Cheney said there were several factors that drew TIAA to Frisco.
"They loved the diversity in our community. They loved the diversity on our City Council. That was important to them. It was access to a high quality of life for their employees," he said. "A big part was access to talent here. We have a growing financial services sector here, so there's plenty of resources for them."
The development is getting an $18 million grant from the Texas Enterprise Fund. Officials are also working out the details of some local economic incentives.
"Businesses and organizations thrive in the Lone Star State, and we look forward to the job growth and services that will be provided with the establishment of TIAA's new corporate center in Frisco," said Governor Abbott.
Construction on the new office complex should start later this year and be finished in 2023.
Related
LISTEN on the Audacy App
Sign Up and Follow NewsRadio 1080 KRLD