Allen’s largest private employer could add 300 jobs and $10 million investment
The Allen Economic Development Corporation (AEDC) and Experian® (LSE: EXPN), a global information services company, have announced an amendment to their 2008 economic development agreement that will support moving additional business operations to its 300,000-sf facility in the Enterprise Business Park in Allen. Remaining in the agreement is Experian’s commitment to a 10-year lease.
Experian, one of the first companies to locate in Allen, is the city’s largest private employer with nearly 600 employees in several business units, including the National Consumer Assistance Center, as well as the Decision Analytics, Information Technology and Public Education groups.
“Experian has been pleased to be a part of the Allen community since 1993. We are proud to be one of the first companies to recognize the tremendous potential of this city and our positive relationship with the City has influenced our decision to move additional business here,” said Carlos Medina, SVP Global Operations. “This new incentive agreement is yet another way that the City has shown its ongoing commitment to supporting Experian’s growth in Allen.”
Retaining and expanding Allen’s business base is the best way to create jobs in a challenging economic climate, said Tim Wood, President of the AEDC. “If we can help an existing operation grow, it strengthens our retail and property tax base, which lessens the burden on Allen homeowners.”
Mayor Steve Terrell was a city councilman when Experian first arrived in Allen. “Experian has been an integral part of our community for 15 years,” Terrell said. “Experian employees have contributed countless hours of service to this community, serving on community boards, supporting the Allen Chamber of Commerce, the Allen Arts Alliance, and many other local charities. We are grateful Experian sees the benefits of expanding in Allen.”
About Allen Economic Development Corporation (AEDC)
In 1992, the citizens of Allen passed a city-wide half-cent sales tax in support of an economic development corporation. Since its inception, the Allen Economic Development Corporation (AEDC) has been charged with facilitating company relocations and assisting the expansion of existing businesses, which creates jobs and additional tax revenue to the community. Since 1992, the AEDC has recruited over sixty new businesses and industries to Allen that have contributed to increasing Allen’s total ad valorem tax base from $729 million in 1992 to over $7 billion in 2009.
The AEDC board of directors, appointed by the City Council, governs the corporation’s operations. These individuals represent a diverse spectrum of interests and expertise which is invaluable to making prudent decisions with regard to the quality of Allen’s economic development.