Pizza Hut Incentives on Plano's Agenda

According to the Dallas Business Journal,  “Pizza Hut is considering building a new corporate headquarters in the Legacy business park in West Plano, moving at least 450 high-paying jobs to a city that’s been highly successful at luring corporations in the past year.”

The Plano City Council will vote Monday on a $4 million-plus economic incentive package designed to seal the deal with Pizza Hut of America Inc., according to an agenda posted Friday afternoon on the city’s Web site. Pizza Hut’s current headquarters is at 14841 Dallas Pkwy., space it leases along the Dallas North Tollway in Addison. That lease is set to expire sometime in 2010. The proposed incentive package includes $4.2 million in payments to the company to cover permits, inspections, relocation expenses and occupancy costs. The package also includes a 10-year, 50% city tax abatement for real property, and a 10-year, 50% abatement for business personal property. The abatements would save the company an estimated $36,700 per year in taxes, or $376,000 over the 10-year period.”