Earlier this year, the Deloitte Dallas and Irving offices were ready to copulate and move the combined digs to Irving. Apparently this was going to save the two offices bookoo dollars.
Problem for the City of Dallas is that if a big shot spendy tenant like Deloitte bolts, Dallas’s Central Business District would not be good, especially since the vacancy rate is already high. The City pondered this and came to the conclusion that offering Deloitte a $2 Million “economic development grant” should convince them that moving to Irving is the WORST IDEA EVER.
More, after the jump
Not quite sure what Deloitte will do with that money (our suggestion is for more donut giveaways) but here’s the back scratching they’ll do for the City, according to the Dallas Observer:
Subject to City Council approval of the proposed economic development grant, Deloitte LLP has agreed to execute a 10-year lease extension at 2200 Ross Avenue (Chase Tower) beginning 2011 and will:
•Commit to maintain a minimum of 1,111 jobs at this location
•Ensure approximately $19.9 million is invested for tenant improvements
So it looks like Deloitte is down for this but we’re not exactly sure how they came up with 1,111 for the minimum number of jobs. At the very least, it’s kind of a cool looking number.
Regardless of the figures, we doubt that Deloitte would be taking the $2 mil if wasn’t going to be a good deal for them. So greasing Deloitte to keep them in Dallas seems to be a good deal since, “[the City of Dallas] believes the $2 million investment will yield $31 million in ‘net city fiscal impact.'”. So, yeah. Not too shabby.
However, we’re guessing that more than a few people in Irving that might be a little bent out of shape about this, so if you’ve got any more information on this deal, let us know.
When Deloitte Did the Math, It Needed $2 Mil From Dallas, Or Else It Was Going to Irving [Dallas Observer]