Through the first third of the year,
completed Richardson expansion and
relocation projects doubled the average four-month output of new or retained jobs and commercial real estate occupancy for the previous five years:  

The big projects that pushed jobs and square foot occupancy to double the five-year
averages for four months were State Farm’s February announcement of an
additional 500,000-square-foot building at CityLine and Raytheon’s March
announcement of a 1,700-employee campus in Richardson.

State Farm’s fourth building at CityLine will accommodate
another 2,500+ Richardson
employees, if the same employee to square foot ratio for the 1.5-million-square-foot
Phase I prevails. It will bring its total Richardson
workforce near or over 10,000. Occupancy of the three-building, 1.5-million-square-foot
Phase I State Farm development will begin late this year and continue through
the first half of 2015.

Raytheon culminated a multi-year search in selecting
CityLine for the relocation of its current campus on Jupiter
Road just north of the LBJ Freeway. Construction
will begin on the three-building, 489,000-square-foot campus this summer and
occupancy will occur in late 2015. Intelligence & Information Services
(ISS) is the Raytheon business unit making the move. Its engineering and
technical workforce has a major focus on cyber-security. The Richardson
campus will be an “Engineering Hub” that complements the Space & Airborne
unit’s 3,000-strong manufacturing and assembly facility in McKinney,
and the 2,000-employee semiconductor-related contingent on the north side of
the Texas Instruments campus in Dallas.
Upon completion of the Richardson
facility, Raytheon’s North Texas workforce of 8,000 will
be aligned along the Highway 75 Corridor.

REDP has extended its marketing outreach to both coasts in
2014. April visits to the Silicon Valley, that included Mayor Laura Maczka and
City Manager Dan Johnson, enabled Richardson to thank companies like Cisco that
have local operations, and to develop new leads. REDP also participated in Governor Perry’s marketing trip to New York City
in April and met with a number of relocation prospects as well as site
selectors.

The pace of new prospect activity is at the highest it has
been in over a decade, and Richardson
is well-positioned to capture its share of all the great business that is
making a move.