Plano City Council approved a Chapter 380 agreement during the Jan. 22 meeting. According to city documents, $282,000 will be paid to Assa Abloy as long as the company has at least 166 full-time positions at its Plano headquarters by Oct. 31.
The overview
Assa Abloy will occupy a 107,000-square-foot space within Plano’s Research and Technology Crossroads at 2925 E. Plano Parkway, according to a city news release. Over the course of 10 years, the company projects creating 350 jobs, per the news release.
“We eagerly anticipate the potential collaboration and innovation that their global expertise will bring to our community,” Plano Mayor John Muns said in the news release.
Assa Abloy operates in more than 70 countries worldwide and has over 52,000 employees, the news release said.
Quote of note
“Plano serves as an important hub for technological innovation and will be central to our goal of continuing to expand our portfolio of solutions and services for customers across the Americas,” said Nicolas Aznar, president of the Americas at Assa Abloy Global, in the release.
What’s next?
The company is expected to move into the new Plano facility in October 2024.
