CVE Technology Group, Inc., considered among the fastest growing high-tech after-market service providers for cellular handsets and consumer electronics, has relocated its headquarters from Riverdale, N.J., to Enterprise Business Park in Allen, Texas.
According to CVE officials, 300 employees currently occupy about 40 percent of the 196,000 SF flex-space facility at 915 Enterprise Blvd., which also serves as a service center, and the company is averaging 20 new hires weekly in response to new and expanded contracts with cell phone carriers. At the Allen location, CVE expects to employ 600 by the end of this year, and 1,200 by the end of 2015. The company currently employs 1,100 people throughout the U.S.
“We relocated the headquarters here because the Metroplex is the epicenter of cell phone growth and activity,” said CVE Vice President Ruben Alvarado. “All of the top carriers along with all of the top OEMs are here in the DFW Metroplex. Even if their headquarters are located elsewhere, their hubs and inventory most definitely are here.”
Although CVE maintains a national receiving center in Plano, Texas, and service centers in Fort Worth, and Riverdale, N.J., Alvarado said the key factor in site selection was Allen’s competitive lease rates for spaces that were ready to move in immediately. Allen’s Enterprise Business Park afforded less than 30-minute commutes to DFW International Airport and Dallas Love Field, and many dining and retail options within minutes at the nearby Watters Creek and Village at Allen centers. Alvarado said the Allen Economic Development Corporation also offered a strong economic incentive package.
“Allen is focused on helping businesses expand and relocate here in order to drive the growth of our employment base,” said Allen Economic Development Corporation Executive Director/CEO Dan Bowman. “At full employment, CVE is expected to rank among our largest employers in Allen.”
Bowman said Enterprise Business Park has attracted several large employers in addition to CVE, including Experian Information Solutions, Frontier Communications and Jack Henry & Associates. Combined, the four companies currently employ over 2,500 people.
According to Allen Economic Development Board President Scott Sutherland, the city has fostered a true live, work, play community that has untold potential for additional expansions and relocations.
“At the end of 2013, Allen had an estimated 25,000 daytime employees working here and that number continues to grow,” said Sutherland. “It is immensely rewarding to work with companies like CVE, who can grow along with Allen.”
Lee & Associates Director George Tanghongs represented the landlord, IndCor Properties, and CVE on the transaction.
“The City of Allen was very accommodating and responsive,” said Tanghongs. “The whole process took two months and, ultimately, it came down to the right property, right location and the right incentives Allen offered.”
About CVE Technology Group
CVE Technology Group is a leader of high-tech after-market services and provides total lifecycle care solutions for the world of Mobility (Cellular Handsets) and Consumer Electronics. The lifecycle services ranges from reverse logistics and simple repairs to the most sophisticated technological and electronic solutions that include LCD reclamation, parts reclamation and complex board repair. Our customers include the top handset OEMs in the world and the biggest wireless carriers in the U.S.
About Allen Economic Development Corporation
In 1992, the citizens of Allen passed a citywide half-cent sales tax in support of an economic development corporation. Since its inception, the Allen Economic Development Corporation 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 seventy 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 $8.3 billion in 2013. The AEDC Board of Directors, appointed by the Allen 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.