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CITY COUNCIL AGENDA MEMO |
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| | | | | | | | | MEETING DATE: | 1/24/2022 | | DEPARTMENT: | Eco Dev | | DIRECTOR: | Sally Bane, Director of Economic Development | | AGENDA ITEM: | Revised and Restated Economic Development Incentive Agreement for NTT DATA, Inc. | | RECOMMENDED ACTION: | Approval of Contract / Agreement |
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| | | | | | | | ITEM SUMMARY To approve a Revised and Restated Economic Development Incentive Agreement between the City of Plano, Texas, and NTT DATA, Inc., a Delaware corporation (“Company”), providing an economic development grant to the Company; and authorizing the City Manager to execute all necessary documents. Approved |
| | | | | | | | PREVIOUS ACTION/PRESENTATION On March 21, 2017 the City Council approved an Economic Development Incentive Agreement by and between the City of Plano and NTT DATA, Inc., a Delaware corporation, which was further amended and restated on November 13, 2017. |
| | | | | | | | BACKGROUND A request to approve a Revised and Restated Economic Development Incentive Agreement for NTT DATA, Inc., a Delaware corporation, pursuant to Chapter 380 of the Texas Local Government Code and conditioned on the terms as set forth in the attached agreement. NTT DATA, Inc., agrees to occupy at least 125,000 gross square feet of office space at 7950 Legacy Drive, include an additional location at 6501 Legacy Drive and maintain business operations at the Company's existing location at 2300 W. Plano Parkway, and retain transfer or create up to 3,729 Full-Time Job Equivalents to be located on the Real Property for the term of this Agreement.
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| | | | | | | | FINANCIAL SUMMARY/STRATEGIC GOALS This item has no financial impact.
Approval of this Agreement supports the City’s Strategic Plan Critical Success Factor of Residential and Commercial Economic Vitality. |
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