West Plano’s $3 billion Legacy West development has landed another big name business.
Boeing will locate the headquarters for its newly formed global services division in the 250-acre mixed-use project at the Dallas North Tollway and State Highway 121.
The aerospace giant will join Toyota, JPMorgan Chase, Liberty Mutual Insurance and FedEx with offices in the new development.
Boeing will occupy office space in the Legacy Urban Village – a development of shops, apartments, restaurants and office space at the northwest corner of the tollway and Legacy Drive.
The aircraft firm announced in December that it was setting up the new global services unit to expand its revenues from servicing aircraft and related businesses.
Boeing currently has only about a 7 percent share of the global commercial and defense services market. That business is expected to be valued at close to $2.5 trillion over the next decade.
The company has said it hopes to triple the revenue from its global to nearly $50 billion over the next five years.
The new Plano office will be home base for the division’s 20,000 employees.
Boeing said it picked the Plano location because of its central, strategic location.
“We have a fixed focus on serving our customers worldwide, and this location assists in our mission of providing uncompromising service worldwide,” division president Stan Deal said in a statement.
The company said the Plano office will be well suited to serve Boeing’s major “commercial customers and defense partners, and serves as a transportation hub that will allow the company to reach customers quickly and efficiently.”
The new division will provide training, supply chain management, aircraft modernization, platform sustainment and data optimization for its customers.
Global Services includes two Boeing companies that already have a significant presence in North Texas – Aviall and Jeppesen.
The Chicago-based aircraft maker plans to have the new division up and running with a few dozen professionals by later this year.
“Texas continues to be a global powerhouse in business expansion and relocation because of our economic policies that encourage industry leaders, like Boeing, to expand their operations here,” Texas Governor Greg Abbott said in a statement.
The new Plano-based division is Boeing’s third major business unit, along with commercial aircraft and defense.
Luring the aerospace firm’s division is another huge win for Legacy West, which started construction in early 2014 and will be mostly finished by the end of this year. The project is being developed by Karahan Cos., developer KDC and Columbus Realty Partners.
Boeing will be located in the same building where Toyota is housing its high-tech Toyota Connected division headquarters. The company is taking the top floor of the office and retail building.
“It doesn’t get any better than Boeing,” said Legacy West developer Fehmi Karahan. “It’s such an iconic American name.
“Having one of their division headquarters to move to us is extremelty presteigous and makes a huge statement.”
Landing the new Boeing headquarters is even more poignant for North Texas.
In 2001 the Dallas area was one of the finalists for Boeing’s headquarters move from Seattle.
After looking at potential locations in downtown Dallas and in Las Colinas, Boeing offices decided to move to Chicago was more to their liking.
The loss of the high-profile corporation hit hard in Dallas’ boardrooms and political arena and spurred the revitalization of downtown.
BY: STEVE BROWN
This article originally appeared in the Dallas Morning News
Read the original article here.