During a city council meeting on Aug. 12, 2024, Plano councilmembers approved nearly $6.2 million to facilitate the relocation of Raising Cane’s regional support office.
According to the city, the office will move from 6000 Bishop Avenue to 5320 Legacy Drive. The company intends to establish the office in a vacant office building spanning nearly 400,000 square feet within the Legacy Business Park.
An economic incentive agreement between the city and Cane’s outlines several funding amounts. The company stands to receive over $1.3 million if it purchases the building, maintains the full-time positions and relocates at least 447 full-time equivalent employees during the term of the agreement.
Additionally, the agreement includes slightly more than $1.5 million for the creation of 520 additional jobs. This funding is allocated at a rate of $2,940 per new full-time employee, provided these positions are filled after meeting the initial job requirements but before the end of 2035. The agreement also allocates around $3.1 million to offset any improvement costs that Raising Cane’s may incur for the building. Lastly, $225,165 is designated to cover any city fees, including building or permitting costs.
Upon the move, the company plans to create up to 1,020 full-time equivalent jobs and invest at least $20 million in building enhancements. All employees at the current regional support office will be relocated to the new building.
Funding for the project is available in the 2023-24 economic development fund. This final agreement, in the amount of $6,168,145, will leave an unencumbered balance of $43,068,898 available for future project consideration.
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