A new corporate campus is coming to Westlake that will anchor a proposed mixed use development project on about 70 acres of land. The Charles Schwab Corporation is expanding its operations, bringing about 1,200 more jobs to Westlake’s growing daytime population.
Capital investment for the new corporate campus is projected to be about $100 million, and will include 500,000 square feet of commercial office space. Governor Greg Abbott today announced in a press statement that Schwab has been offered a $6 million Texas Enterprise Fund (TEF) grant for the project, which will create the largest number of new jobs by a TEF grant recipient since the beginning of Governor Abbott’s administration. Additional incentives from the Town of Westlake are pending approval and will be up for consideration on an upcoming council agenda.
Charles Schwab’s decision to expand its operations in North Texas is yet another testament to the Lone Star State’s promising economic climate, Governor Abbot said. “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.”
Town Manager Tom Brymer said the decision by the Charles Schwab Corporation to locate in Westlake is one that will further expand Westlake’s reputation as the location of the financial industry cluster in the DFW metroplex. “They are a gold star company of the highest reputation,” Brymer said. “The Town welcomes them to Westlake and is pleased they have chosen Westlake as home for their next regional headquarters.”
“Westlake is delighted that Charles Schwab has selected this location for its new campus. Schwab has a long, strong and distinguished reputation in the financial services industry and joins other prestigious companies who call Westlake home,” Westlake Mayor Laura Wheat said. “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.”
Schwab Executive Vice President Dennis Howard said the opportunity to expand in Texas is exciting. “We’ll be ramping up our recruiting efforts from among the great wealth of employee talent in and around Westlake.”
The Charles Schwab Corporation 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.