Charles Schwab Corporation Expands to Westlake
Aug 12, 2016 07:22AM ● Published by Audrey Sellers
Ross Perot Jr.'s Circle T Ranch will be the setting for the new campus. Photo via DallasNews.com
The Charles Schwab Corporation, a leading provider of financial services, is expanding its operations, bringing about 1,200 jobs to Westlake’s growing daytime population. A new corporate campus is coming to Westlake that will anchor a proposed mixed-use development project on about 70 acres of land.
Capital investment for the new corporate campus is projected to be about $100 million and will include 500,000 square feet of commercial office space. Governor Greg Abbott announced in a press statement that Schwab has been offered a $6 million Texas Enterprise Fund (TEF) grant for the project, which will create the largest number of new jobs by a TEF grant recipient since the beginning of Governor Abbott’s administration. Additional incentives from the Town of Westlake are pending approval and will be up for consideration on an upcoming council agenda.
Charles Schwab’s decision to expand its operations in North Texas is yet another testament to the Lone Star State’s promising economic climate, Governor Abbot said. “By expanding their facilities, pouring millions into the Texas economy and creating more than a thousand new jobs, Charles Schwab is investing in the North Texas community and bringing more opportunities for our world-class workforce.”
Town Manager Tom Brymer said the decision by the Charles Schwab Corporation to locate in Westlake is one that will further expand Westlake’s reputation as the location of the financial industry cluster in the DFW metroplex. “They are a gold star company of the highest reputation,” Brymer said. “The Town welcomes them to Westlake and is pleased they have chosen Westlake as home for their next regional headquarters.”
Schwab Executive Vice President Dennis Howard said the opportunity to expand in Texas is exciting. “We’ll be ramping up our recruiting efforts from among the great wealth of employee talent in and around Westlake.”