Teachers Insurance and Annuity Association is Frisco’s next and newest resident company as it plans to set its offices and 2000 jobs in the Star according to a press release from the State of Texas from April 27. They say,
“Governor Greg Abbott today announced that the Teachers Insurance and Annuity Association (TIAA) will establish a new corporate center in Frisco, Texas. TIAA is a leading provider of secure retirements and outcome-focused investment solutions. The project will create 2,000 new jobs and nearly $58 million in capital investment. A Texas Enterprise Fund (TEF) grant of $18,000,000 has been extended to TIAA. In addition to the Texas Enterprise Fund Award, TIAA is being offered a $19,000 Veteran Created Job Bonus.
“The new TIAA corporate center in Frisco is a testament to the exceptional economic climate we have here in Texas,” said Governor Abbott. “Businesses and organizations thrive in the Lone Star State, and we look forward to the job growth and services that will be provided with the establishment of TIAA’s new corporate center in Frisco.”
“The new site represents our service commitment to clients and supports our company’s future growth,” said Thasunda Brown Duckett, President and CEO of TIAA. “The addition of associates in the Frisco office will increase our capacity to serve new and existing clients as they plan for and live in retirement, and the terrific amenities and great location will be a real benefit for our people.”
Of course, Frisco officials are also delighted with this news as they see this an amazing opportunity to boost the city’s economy and workforce according to an Audacy article from April 28 which reports,
“We are thrilled to welcome TIAA which will become one of the largest private sector employers in Frisco’s history,” said Frisco Mayor Jeff Cheney.
Mayor Cheney said there were several factors that drew TIAA to Frisco.
“They loved the diversity in our community. They loved the diversity on our City Council. That was important to them. It was access to a high quality of life for their employees,” he said. “A big part was access to talent here. We have a growing financial services sector here, so there’s plenty of resources for them.”
The construction and development of the offices will be made possible through an $18 million grant from the Texas Enterprise Fund and it is set to finish next year 2023.