“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.”