Nokia Moving US Headquarters To Dallas

Steven Pickering
July 12, 2018 - 7:02 am
Nokia HQ

Image via Billingsley Company

Categories: 

DALLAS (1080 KRLD) - Cell phone and telecommunications company Nokia is re-locating its North America headquarters.

The company could receive more than $4 million worth of incentives from the City of Dallas to move from Las Colinas in Irving to the Cypress Waters development in Dallas.

Nokia has signed a lease for 350,000 square feet of office space at Cypress Waters. It plans to move its employees from Las Colinas and a second office in Plano next year. The move will consolidate the company's 2,300 employees in north Texas on one campus.

"This Fortune Global 500 company will drive economic development and new jobs to the City of Dallas," said City Council Member Omar Narvaez.

Nokia could receive up to $4.8 million from the City of Dallas in a combination of sales tax breaks, property tax breaks, credits for hiring Dallas residents and credits for creating new jobs. Nokia was reportedly considering sites outside of north Texas, including locations in New Jersey and Illinois, for its new North American headquarters.

"I'm proud of the action our City Council took to help lure Nokia, a remarkable company, to Cypress Waters," said Dallas Mayor Mike Rawlings.