Simpson Strong-Tie Co., a California-based manufacturer specializing in structural building products, is expanding its operations with a new headquarters in Plano with a 38,372-square-foot lease. Although the company will keep its headquarters in California, it is expanding with a second in Plano.
To help facilitate this move at Granite Park 6, the Plano City Council approved an economic development incentive agreement on March 24, 2025, which totals up to $800,000. This incentive is structured in several phases, contingent on the company's progress in renovating its new space, creating jobs and investing in the local community.
Incentive Agreements And Job Creation
According to Plano's Director of Economic Development, Doug McDonald, the first part of the agreement is a reimbursement for fees associated with the space's renovation. Simpson Strong-Tie is required to spend $5.3 million on finishing the space, which is currently in a raw state, and submit documentation to qualify for a $300,000 grant. Additionally, the city will reimburse the company $27,000 for permit fees, including construction and fire inspection costs.
Beyond renovation assistance, the city also ties incentives to job creation. By the end of 2025, Simpson Strong-Tie must hire 50 full-time employees in Plano, with each job being an in-person position of at least 30 hours per week. The company will receive a $110,000 grant upon fulfilling this requirement. If these positions are maintained for 10 years, the grant will be fully awarded.
"The value of these incentives is not just in the financial contributions; it's about creating long-term partnerships with companies that will continue to benefit our community for years to come," McDonald told Local Profile. He also emphasized the ripple effect of Simpson’s investment, which will drive both direct and indirect job creation in the city.
A Future In Plano
Looking ahead, the city also requires Simpson to expand its presence by 2029. By that time, the company must occupy an additional 9,870 square feet of office space and hire another 165 full-time employees. In return, Simpson will receive another $363,000 grant once it meets these goals.
“This new location will enable us to continue to drive growth and innovation while strengthening our company culture,” said Simpson Strong-Tie CEO Mike Olosky in an official statement.
Why The Incentive Was Offered
The overall $800,000 incentive package is designed to support Simpson Strong-Tie’s growth and commitment to Plano, offering both immediate and long-term benefits to the local economy. McDonald, highlighted that while such agreements aren’t commonplace, they are essential for bringing high-wage job opportunities to the city and increasing sales tax revenue through increased consumer activity in the area.
“The companies are investing a significant amount of money into relocating and creating a brand new space,” McDonald said. “I would say this incentive is the icing on the cake, but it also gives us, as a city, the opportunity to say, "We are a partner with you."”
Don't miss anything Local. Sign up for our free newsletter.
