Plano City Council approved economic incentives for engineering and manufacturing companies at a meeting Aug. 24.
The gist
The city approved $225,000 for SPIARS Engineering to occupy 31,000 square-feet of office space along K Avenue. The company is expected to invest $3.6 million in property improvements by March 2027, per city documents.
SPIARS Engineering specializes in land development, site development and municipal projects across Texas. Economic Development Director Michael Talley said the company works on projects across the metroplex.
“We love working with great companies that want to take care of your employees and give back to the community,” Talley said.
SPIARS engineering will also be expected to use city facilities, including hotels, for company-related or sponsored business activities throughout the agreement term, which will last for 10.75 years after March 1.
One more thing
The city also approved a $300,000 incentive for Krypton Solutions LLC., a manufacturing company with ties to the medical, defense, aerospace, energy, telecommunications, semiconductor and industrial industries.
Krypton Solutions will be occupying a 88,000 square-foot facility along Summit Avenue with the expectation of doing $17 million worth of property improvements by the end of 2028, per city documents.
“People sometimes focus on the large, corporate relocations, but projects like these are really kind of what make Plano what it is,” Michael Talley said.
The agreement will last 10 years after Dec. 31, 2028 and will mean Krypton Solutions is expected to use city facilities, including hotels, for company-related or sponsored business activities throughout the agreement.
The background
Plano provides economic incentives to attract and retain businesses through its Economic Development Grants. Plano City Council approved 2-cent per $100 valuation property tax increase in 2006 to allocate funds for incentives.
