The city of Dallas makes it more attractive for Frontier Communications to relocate its headquarters from the East Coast.
The City Council on Wednesday designated Frontier's Dallas office on McKinney Street as an Enterprise Zone, and the company will seek state sales and use tax rebates in exchange for a potential $7 million investment in the new corporate location. Now you can.
Frontier has not publicly acknowledged the move from its longtime home in Norwalk, Conn., since a memo revealing the potential move was made public last week.memo Dallas Deputy City Manager Majid A. Al-Ghafrey told City Council members that the company is considering Dallas and Tampa as possible construction sites.
Company representatives did not respond to requests from dallas morning news For comments.
However, Mark Nielsen, Frontier's chief legal and regulatory officer, told CT Insider that he will continue to lead the company's legal team from Connecticut.
“In the world of remote work enabled by Frontier Fiber, headquarters are not what they used to be,” Nielsen said. “Connecticut will continue to be important to Frontier and, of course, to me personally.”
Dallas' Enterprise Zone designation was a condition of Frontier's possible relocation. To do so, Frontier will need to maintain 500 jobs in Dallas and invest $7 million in renovating and expanding its McKinney Street office, which can accommodate the 638 employees currently based in Dallas.
Frontier employs 14,100 people in 25 states. Provides cable TV and Internet services to his 2.9 million subscribers in 25 states. The company has announced its goal of having more than 10 million fiber-optic locations in 2021.
The company recently borrowed $2.1 billion to expand its network, using its Dallas-area fiber-optic system and customers as backing for financing. CEO Nick Jeffrey also already lives in Dallas.
“I don't think Frontier would have announced much if they weren't so sure they were moving to Dallas,” said Sam Sorensen, managing director of Dallas business advisory firm Embark. “In my head, I think this should be pretty close to an agreement.”
Like many companies, Frontier is considering a move to Dallas probably because of talent, Sorensen said.
“Even nationally, there are a lot of companies that are not able to attract top talent. Unless they're in a top market, they can't get it,” Sorensen said. “So I think the talent here in Texas is a big motivator.”
