Governor Greg Abbott announced The Charles Schwab Corporation will be establishing a new regional campus in Westlake, Texas. Schwab’s new campus will include more than 500,000 square feet of commercial office space, $100 million in planned capital investment and the creation of at least 1,200 new jobs over the next ten years. A Texas Enterprise Fund (TEF) grant offer of $6 million has been extended to Charles Schwab. The project will create the largest number of new jobs by a TEF grant recipient since the beginning of Governor Abbott’s administration.
“Texas remains the brightest beacon of free enterprise in the nation, and Charles Schwab’s decision to expand its operations in North Texas is yet another testament to the Lone Star State’s promising economic climate,” said Governor Abbott. “By expanding their facilities, pouring millions into the Texas economy and creating more than a thousand new jobs, Charles Schwab is investing in the North Texas community and bringing more opportunities for our world-class workforce. I am proud this leader in the financial industry has chosen to expand in the Lone Star State."
”We’re excited to have this opportunity to expand our presence in Texas, and we’ll be ramping up our recruiting efforts from among the great wealth of employee talent in and around Westlake,” said Schwab Executive Vice President Dennis Howard. “Like Austin, where we already have approximately 1,500 employees, and El Paso where we are building our presence, the Dallas/Fort Worth area is an important location for Schwab to better serve our clients. We look forward to significantly expanding our footprint there over the coming years.”
“Westlake is delighted that The Charles Schwab Corporation has selected us as the location of its new campus," said Westlake Mayor Laura Wheat. "Schwab has a long, strong and distinguished reputation in the financial services industry and joins other prestigious companies who call Westlake home. The Charles Schwab Corporation is certain to be an integral piece of the financial services cluster that is coming together in Westlake and along the State Highway 114 Corridor. We welcome Schwab to Westlake and feel very fortunate to count them as our newest corporate citizen.”
“On behalf of Denton County, I am proud to welcome Charles Schwab,” said Denton County Commissioner Andy Eads. “This is a vote of confidence that Denton County is the place to be for business. Our skilled workforce, improved transportation system, and overall quality of life is why so many businesses like Schwab have come to call Denton County their home.”
Project Facts
- The new corporate campus will anchor a large proposed mixed use development project in Westlake, Texas
- Schwab portion will develop approximately 70 acres of land
- 500,000 square feet of commercial office space with structured parking
- Total capital investment projected to be $100 million
- 1,200 new jobs – the largest number of new jobs created by a TEF grant recipient during Governor Abbott’s administration
About Schwab
The Charles Schwab Corporation (NYSE:SCHW) is a leading provider of financial services, with more than 330 offices and 10.0 million active brokerage accounts, 1.6 million corporate retirement plan participants, 1.1 million banking accounts, and $2.62 trillion in client assets as of June 30, 2016. Schwab has earned extensive recognition as an employer of choice, having received multiple regional “Top Workplace” awards, the Gallup Great Workplace award for the past five consecutive years, a 100 percent rating on the Human Rights Campaign’s Corporate Equality Index since 2004, and multiple awards celebrating the company’s military veteran-friendly workplace. More information is available at http://www.schwab.com and www.aboutschwab.com.