FOR IMMEDIATE RELEASE
VCE, MAJOR CLOUD COMPUTING COMPANY, ESTABLISHES HEADQUARTERS, PLANS MAJOR EXPANSION IN RICHARDSON
Gov. Perry Awards Company $2.45-Million Texas Enterprise Fund Grant to Facilitate Growth;
VCE Adds to Cloud Computing Assets in Richardson
RICHARDSON, Texas – March 15, 2011 – Texas Governor Rick Perry and cloud computing company VCE, The Virtual Computing Environment Company, today announced a $2.45-million Texas Enterprise Fund investment in VCE, in conjunction with the company’s plans to establish its headquarters in Richardson. The investment is expected to create 434 high-paying jobs and generate an estimated $35 million in capital investment.
“Communities like Richardson continue to attract jobs and fuel our state’s diverse economy thanks to investments from the Texas Enterprise Fund that help attract companies like VCE,” Gov. Perry said. “Texas’ low taxes, reasonable and predictable regulatory climate, fair legal system and skilled workforce have made the Lone Star State a beacon for job creation and economic growth, and strengthening these principles will help ensure our continued success.”
VCE, which currently has U.S. operations in Dallas, Massachusetts and Silicon Valley, was formed by Cisco and EMC with investments from VMware and Intel. VCE accelerates the adoption of converged infrastructure and cloud-based computing models that dramatically reduce the cost of IT while improving time to market for customers.
“VCE is focused on the next generation data center and the future of cloud computing, and the Texas Enterprise Fund grant will help further our growth,” said Michael D. Capellas, Chairman and CEO, VCE. “With a vibrant tech community and deep talent pool, Richardson is a great community in which to build a business.”
VCE has signed a long-term lease to occupy at least 87,000 square feet in the Collins Crossing building at 1500 N. Greenville Ave. in Richardson. VCE expects to take occupancy of the space by the Spring of 2011.
In coming to Richardson’s internationally known Telecom Corridor® area, VCE joins other leading companies with a cloud computing-related presence in Richardson, such as AT&T, Verizon Business, Digital Realty Trust and SunGard, as well as Cisco and EMC. VCE also adds to a string of major developments recently completed or planned for the central corridor of Richardson. Blue Cross Blue Shield of Texas’ new headquarters, the start-up of Texas Instruments’ RFAB facility, mixed-use projects such as Eastside and The Venue, and the potentially transformative, transit-oriented development just south of the U.S. 75 – President George Bush Turnpike intersection (for which the Richardson City Council recently approved rezoning) all signal the continued resurgence of the Telecom Corridor area.
“With the addition of VCE, Richardson is once again re-asserting its leadership in technology innovation and demonstrating the powerful synergies available in our community,” said Richardson Mayor Gary Slagel. “Thanks to a tradition of high-tech leadership, a deep talent pool, a strong educational base and outstanding community support, Richardson is poised to build on its global reputation by being at the forefront of the emerging cloud computing sector. The future is truly bright for Richardson.”
Reid Caldwell, principal with Transwestern, and Chris Hipps, managing director with Transwestern, negotiated the lease on behalf of the property owner, Franklin Street Properties. Greg Langston, managing principal, Susan Blair, senior vice president, and Bret Hefton, vice president, all with Cresa Partners, negotiated the lease on behalf of the tenant.
“We are extremely excited about VCE and its plans,” said Caldwell. “This deal was extremely complicated and happened in a very compressed time frame. Its completion represents a great win for the city, Franklin Street Properties and the entire region. The addition of VCE speaks to the dynamic, supportive business environment for which Richardson is known.”
“VCE’s decision to select this area for its corporate headquarters is not a gamble,” said Langston. “This is a validation that the State of Texas, and the DFW Metroplex in particular, are absolutely open for business.”
VCE, the Virtual Computing Environment Company formed by Cisco and EMC with investments from VMware and Intel, accelerates the adoption of converged infrastructure and cloud-based computing models that dramatically reduce the cost of IT while improving time to market for our customers. VCE, through the Vblock platform, delivers the industry's first completely integrated IT offering with end-to-end vendor accountability. VCE's prepackaged solutions are available through an extensive partner network, and cover horizontal applications, vertical industry offerings, and application development environments, allowing customers to focus on business innovation instead of integrating, validating and managing IT infrastructure. For more information, go to www.vce.com
About the Texas Enterprise Fund
The legislature created the TEF in 2003 and re-appropriated funding in 2005, 2007 and 2009 to help ensure the growth of Texas businesses and create more jobs throughout the state. TEF projects must be approved by the governor, lieutenant governor and speaker of the House. The fund has since become one of the state’s most competitive tools to recruit and bolster business. To date, the TEF has invested more than $430 million and closed the deal on projects generating 57,305 new jobs and more than $14.7 billion in capital investment in the state. For more information about the TEF, please visit Texas Enterprise Fund
or Governor of Texas
About the Richardson Economic Development Partnership
The Richardson Economic Development Partnership (REDP) is a joint effort of the City of Richardson and the Richardson Chamber of Commerce, dedicated to building a vibrant and thriving local economy by attracting new investment and jobs through marketing, recruitment and working with existing employers. The REDP offers numerous services to companies considering expansion or relocation to the Telecom Corridor® area, including broker and real estate referrals, cost of business analyses, incentives, partner and executive introductions, relocation assistance, site selection, tours and city information. For more information go to www.telecomcorridor.com