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January 2005 Volume 2, Issue 1 This issue home | Action home | Chamber home Countrywide CEO Cites Friendly Business Climate In Decision To Bring 7,500 Jobs To Texas
Lender Purchasing 500,000 Square Feet In Richardson's Galatyn Park The City of Richardson is flying high after two visits by Texas Gov. Rick Perry in less than a month. On Dec. 14, Gov. Perry joined Countrywide Financial Corporation Chairman, CEO and Co-Founder Angelo Mozilo and Richardson Mayor Gary Slagel in announcing the largest job creation in the United States since 2000. The announcement that Countrywide will bring 7,500 jobs to Texas over the next six years, with 5,000 of them targeted for Richardson was made during a press conference held at the Charles W. Eisemann Center for Performing Arts & Corporate Presentations. The Eisemann Center is located in Richardson's Galatyn Park Urban Center, where Countrywide is purchasing three buildings, totaling 500,000 square feet of office space, in the first phase of the company's Texas expansion plans. On Nov. 18, Gov. Perry celebrated with Richardson as Texas Instruments and The University of Texas at Dallas (UTD) held simultaneous, virtual groundbreakings on a $3 billion, one-million-square-foot semiconductor chip fab for Texas Instruments and an $85 million, 192,000-square-foot Natural Sciences and Engineering Research building at UTD. Clinching the Countrywide deal was a $20 million incentive package made available through the Texas Enterprise Fund, which was created in 2003 by the 78th Texas Legislature for the purpose of allowing the state to respond to corporate investment and job creation opportunities. Gov. Perry focused on the impact of the Texas Enterprise Fund in attracting new jobs: "With the Countrywide announcement, the state has now allocated more than $200 million from the Texas Enterprise Fund to bring more than 22,000 new jobs and generate more than $6 billion in capital investment in the state's economy. Richardson Mayor Gary Slagel applauded Gov. Perry's initiative of the Texas Enterprise Fund. "We are pleased with your support of our future economy through stimulation of job growth in Texas. The Texas Enterprise Fund, as well as tax incentives from local, county and educational institutions, helped to facilitate and accelerate the decision by Countrywide Home Loans to purchase three buildings (comprising 500,000 square feet of office space) in Richardson's Galatyn Park urban area. "This will provide space for Countrywide to bring 2,500 jobs to Richardson and the company has an option on another tract of land, which would allow them in phase two to build a 500,000-square-foot facility for another 2,500 employees. We are pleased to have Countrywide Financial, the nation's No. 1 mortgage lender, become a part of our community," he added. Describing the company's expansion plans, Countrywide CEO Angelo Mozilo said: "Propelled by the Texas Enterprise Fund, we will be spending $200 million in capital improvements and will create 7,500 jobs in Texas. We operate in all 50 states and believe that Texas is far and away the best in which to do business. "By 2008, we hope to increase our market share from about 15 percent to 30 percent and would grow from 40,000 to more than 80,000 employees companywide. We expect to use Texas as a launch point for that growth over this and the next decade," said Mozilo. "And we will do everything we can to support the community because that's part of our corporate and employee culture." Commenting on the press conference announcements, Charles Eisemann, 2005 chairman of the Richardson Chamber of Commerce, said: "Taking half-a-million square feet off the available office space inventory while adding 2,500 new job opportunities is a tremendous boon to the local economy. We hope that the addition of this national financial organization will also act as a magnet for other companies considering relocation or expansion to Richardson." |
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