Dallas, Show Me the MoneyGram!
Speaking ofthings that make the mayor happy
MoneyGram International is moving its HQ from Minnesota to 2828 N. Harwood. It's bringing 75 people to Dallas; could grow to double that in coming years. Says Mayor Tom Leppert in an official release just dispatched by Chris Heinbaugh: "Clearly Dallas' strong fundamentals -- including a business friendly tax structure and easy access to US, Latin and South American markets -- make this a great fit for MoneyGram, and other companies wanting to position themselves for growth in a global economy."
Looks like somebody liked their iPhone. And, from the release, certainly this didn't hurt neither: "As part of the move, the Dallas City Council will consider a public incentive package next month." As the Star Tribune reminds, MoneyGram lost $1.6 billion and "nearly collapsed in 2008 from risky investments tied to subprime mortgages."
GLOBAL FIRM MOVING TO DOWNTOWN DALLASMoneyGram International Will Relocate in November
Dallas Mayor Tom Leppert announced today that MoneyGram International (NYSE:MGI) is moving its corporate headquarters from Minneapolis to Downtown Dallas. The relocation, effective November 1, 2010, will start with 75 employees and double to 150 positions by mid-2012.
MoneyGram, a leading global payment services company, says the move will help it reduce costs, streamline operations and position itself for long-term success. MoneyGram also cited the region's corporate community, DFW International Airport and access to multi-lingual employees as contributing to the selection of Dallas.
"We are eager to welcome a company with the world wide reach of MoneyGram," said Mayor Leppert. "Clearly Dallas' strong fundamentals - including a business friendly tax structure and easy access to US, Latin and South American markets - make this a great fit for MoneyGram, and other companies wanting to position themselves for growth in a global economy."
MoneyGram has payment services available in 203,000 agent locations in approximately 190 countries and territories. The company will be moving its headquarters to 2828 N. Harwood in the Uptown neighborhood of Downtown Dallas.
"Having MoneyGram's high profile and brand relocate to Downtown is yet another sure sign of the continuing momentum we are experiencing in today's competitive global marketplace," said John Crawford, president and CEO of the economic development group DowntownDallas, Inc.
As part of the move, the Dallas City Council will consider a public incentive package next month. MoneyGram International will be the latest high profile corporate relocation to Downtown Dallas. Others include AT&T, Comerica Bank, Tenet Healthcare and 7-Eleven.
Get the This Week's Top Stories Newsletter
Every week we collect the latest news, music and arts stories — along with film and food reviews and the best things to do this week — so that you'll never miss Observer's biggest stories.