The city made the agreement with Celestica—a technology company that provides design, manufacturing and supply chain solutions—with the understanding that the company will expand its current presence within Richardson, according to a city news release. Based on the economic development agreement, Celestica is signing a three-year lease to convert 30,000 square feet of office space into a high-tech manufacturing facility.
The overview
Celestica currently operates a facility located at 2791 Telecom Parkway, in addition to several locations in North America, Europe and Asia. Per the release, the company plans to manufacture equipment that leverages artificial intelligence for its U.S.-based customers.
“This expansion builds on the growth we are seeing for this type of work and adds to the synergies available in Richardson for global technological innovators like Celestica," Richardson Mayor Bob Dubey said in the release.
Per terms of the agreement, Celestica must create 155 new jobs with an average annual salary of $67,200 at its expanded facility. According to terms of the agreement, the city will pay $250,000 in three installments, while the company must invest at least $5.5 million into the leased space.
The details
As part of its expansion, Celestica plans to take over 30,000 square feet of space at 2811 Telecom Parkway, which is located near a portion of the company’s current operations, per the agreement.
The payment structure is the following, according to the agreement:
- $100,000 within 90 days after the company obtains a certificate of occupancy from the city for the expanded space
- $100,000 one year after the company obtained its certificate of occupancy
- $50,000 two years after the company obtained its certificate of occupancy
