What Landing Amazon's 'HQ2' Would Mean to the Dallas Area
According to the Dallas Morning News, Dallas landing the second headquarters of Seattle-based Amazon — dubbed HQ2 — would be the deal of the ages.
To compare, Legacy West — home of Toyota’s North American headquarters, FedEx Office’s headquarters, Liberty Mutual Insurance, and JPMorgan Chase — is a $3 billion 250-acre mixed-use development. Jeff Bezos is looking to sink $5 million into Amazon’s HQ2.
Last year, a multitude of corporations collectively added 100,000 new jobs in the Dallas area. But Amazon’s HQ2 is projected to single-handedly add 50,000 new jobs.
In comparison to the Toyota deal, Toyota spent $1 billion on its new North American headquarters in Legacy West, which is 20 percent of Amazon’s HQ2 investment. And the Amazon HQ2 workforce will be 10 times the size of Toyota’s employee population at its Plano headquarters.
"This thing is the equivalent of State Farm Insurance plus Liberty Mutual plus Toyota and JPMorgan Chase, all companies with large new office centers in the Dallas area,” Randy Cooper, vice chairman with commercial real estate firm Cushman & Wakefield, told the News. "That's the kind of scale they are talking about.
"When it's all said and done, it will be one of the more famous real estate stories for the modern era," added Cooper, who worked with State Farm Insurance to locate 10,000 employees at its new CityLine campus in Richardson.
Though Dallas is just one of many metros vying for the Amazon deal, it exceeds the digital retailer’s list of must-haves: An international airport within a 45-minute drive, existing buildings of at least 500,000 square feet or open land of 100 acres, a highly educated tech workforce, and a strong university system.
Additionally, Dallas is a corporate city and savvy recruitment negotiator. And between multiple area distribution centers and a major regional office in the Galleria complex, Amazon already has a key presence in North Texas.