By BJ Austin
http://stream.publicbroadcasting.net/production/mp3/kera/local-kera-739582.mp3
Dallas, TX – AT&T gets a multi-million dollar welcome gift at Dallas City Hall. The communications giant announced in late June it would be moving its headquarters from San Antonio to downtown Dallas.
The Dallas City Council's Finance and Audit committee was the first to meet after the July council recess and its first action was a vote on an $11.5 million, 10-year incentive package for AT&T to move to downtown Dallas. Chairman Ron Natinsky called for the vote.
Ron Natinsky, committee Chair: All those in favor please signify by saying aye. I'm not even gonna ask for opposition. Passes unanimously.
The city will pay AT&T $5 million cash, and give the company a 90% tax break on aircraft at Love Field and on new business personal property over 10 years. In return, AT&T promises to relocate at least 550 top level jobs to downtown Dallas - it could be 700 - and stay in Dallas for five years.
John Crawford, President of the business group Downtown Dallas, says AT&T will have a $2 billion impact on the city over the next decade.
Crawford: They're out in the community being part of it, adding direct and indirect benefits to a number of cultural, civic and charitable organizations. So it's not just a business relocation. It is a huge impact in terms of the entire community.
The full city council is expected to approve the incentive package next week.