FRISCO, Texas - It’s official. Keurig Dr Pepper will relocate its headquarters from Plano to Frisco.
The company made the announcement Thursday, following the Frisco economic development board’s approval of incentives and a plan to bring a high-end office building to The Star.
“We are excited to upgrade our Texas co-headquarters location to support the needs of our vibrant business, including enhanced technology capabilities and space to increase collaboration,” said CEO Bob Gamgort. “The new location at The Star in Frisco will provide a state-of the-art work environment and exciting amenities that will energize our employees and enable us to attract top talent in the area.”
Dr Pepper currently has its corporate headquarters on Legacy Drive in Plano. It plans to move into a new, 350,000 square foot facility near the Dallas Cowboys’ training facility by 2021.
The city of Frisco is selling that plot of land where the Cowboys players currently park to Jerry Jones’ real estate company, Blue Star Land. The land is currently valued at over $2 million.
Frisco is also expected to benefit from the hundreds of thousands of dollars in tax revenue from a building that could be valued at over $200.
“This is an exciting day for the City of Frisco,” said Frisco Mayor Jeff Cheney. “Having this Fortune 500 company located in Frisco will continue to strengthen the city’s position as one of the top corporate relocation destinations in the United States. With this move, Keurig Dr Pepper will have a direct impact on our city’s corporate landscape for many years to come.”
Earlier this week Cheney also told FOX 4 there is high demand from companies that want to be near The Star and attached to the Dallas Cowboys to have their conference center overlook the practice field. They want to be able to showcase it to their clients.
Jerry Jones said he is thrilled to see the business community growing around The Star and looks forward to working with Dr Pepper.
In a statement without mentioning Dr Pepper, the Plano mayor said: “While we always strive to retain all of our businesses in Plano, it’s not realistic to think every company that sets up shop, relocates or expands in Plano will stay here indefinitely. We are a significant recipient of new business. In the last two years, 48 companies either relocated to Plano or expanded their current operations.”
About 1,100 employees work in Dr Pepper’s Plano office. The company's second headquarters is located in Burlington, Mass.