What you need to know
The company, which has provided hardware and software for defense and government operations in the Richardson area for 30 years, has committed to long-term leases at two facilities in the IQ, as well as a capital investment in tenant improvements and new equipment, according to a Nov. 4 news release from the city.
The Richardson Innovation Quarter is a 1,200-acre tech hub off of US 75, housing more than 1,100 companies and start-ups specializing in manufacturing, biotechnology, finance, software development, and research and development.
The company will lease approximately 70,000 square feet across IQ facilities at 1155 E. Collins Boulevard and 1680 Prospect Drive, including a 14,000-square foot expansion at the Prospect Drive location. Crescent Systems will add 36 new jobs over the next two years with an average salary of approximately $117,000.
“With our headquarters here in Richardson, our presence furthers the city’s rich history as a corporate hub to technological innovation and incubation,” Crescent Systems Chief Innovation Officer Ryan Tinay said in the release.
The City of Richardson is supporting the expansion with a $150,000 Business Retention and Expansion Grant, according to the release.
Quote of note
“Crescent Systems has been an important part of Richardson’s business community for many years,” City Manager Don Magner said in the release. “Its decision to expand within The IQ demonstrates both confidence in Richardson’s future and the district’s role as a hub for innovation, collaboration, and long-term business growth.”
