Now that the word is out, I guess I can post it on the blog.
Wells Fargo is moving from San Francisco to the Dallas-Ft Worth (Texas) area.
Several years ago, every Texan had to sign a non-disclosure statement with regard to this move: if anyone asked, all we could say was "I don't know. I haven't heard a thing."
Just kidding.
Years of rumors have been confirmed by an Irving City Council agenda. San Francisco banking giant Wells Fargo is in the running to receive up to $31 million as part of economic incentive agreements with the city tied to a large-scale office development that could house as many as 4,000 workers.
The development, dubbed a “regional campus” within city documents, is expected to consist of 800,000 square feet of new office space set among a broader mixed-use campus featuring a couple of hundred multifamily units, restaurants and retail.
The office, which will be developed by Dallas-based KDC, will be constructed near the Irving Convention Center and Toyota Music Factory at the corner of West Las Colinas Boulevard and Promenade Parkway – one of the last and largest vacant sites in the area.
It looks like Wells Fargo is doing what several other huge corporations headquartered in California are doing. They are moving to Texas but not really moving. They will call the move a "new regional campus" but leave the corporate sign standing in California.
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