Craig Ranch Announces Traxxas As First Corporate Headquarters
Craig Ranch announced today that Traxxas (traxxas.com), the leader in hobby-class radio controlled cars, trucks and boats, will relocate its corporate headquarters, research and development functions and distribution from Plano to McKinney, Texas. The announcement marks the first headquarter company to move to Craig Ranch following the unveiling of its $575 million employment district and partnership with KDC last month.
"Traxxas was first across the finish line to see that Craig Ranch has all the components companies are looking for in a headquarters: prime location, access to DFW Airport and quality of life amenities," said David Craig, master developer of Craig Ranch. "There were a lot of moving parts to this deal and I applaud and thank the City of McKinney and the Economic Development Corporation for their help in bringing Traxxas to Craig Ranch."
Plans call for Traxxas to build a $12-15 million, 160,000 to 200,000 square foot campus-style office complex on 12 acres at the northwest corner of Sam Rayburn SH121 Tollway and Stacy Road. A retail component is also planned as well as test facilities and race tracks with public access.
"We have spent the past three years looking for the right place to relocate the corporate headquarters of Traxxas," said Michael S. Jenkins, owner and president of Traxxas. "We immediately saw the value of being part of the Craig Ranch master plan and the City of McKinney provides a lot of attraction in its diverse talent pool of people. We have been welcomed warmly by the City and are proud that they are able to appreciate the value of what our business and our sport will bring to the community."
Jenkins added that the adjacency of the Traxxas campus to the athletic fields was valuable because families visiting the ball fields will also have the opportunity to drive radio controlled cars and trucks and compete on the race tracks.
Traxxas will initially move 100 employees in 2011, whose average salary is over $60,000. Jenkins says another 50 employees will be added by 2013. Craig Ranch gave $500,000 in infrastructure and incentives to Traxxas, the McKinney EDC gave $400,000 and the City of McKinney plans to grant tax abatements of approximately $280,000 for the project pending approval at the June 15 council meeting.
"We are excited that Traxxas has chosen McKinney for the expansion of its new corporate headquarters and facilities," said McKinney Mayor Brian Loughmiller. "Traxxas also has an exemplary history of community involvement and support, and we look forward to Traxxas becoming an involved corporate citizen in our community."
KDC is the construction manager of the project. Construction should begin later this year and will be complete by the end of 2011.
Craig Ranch is located within 30 minutes of DFW Airport and six miles from Collin County Regional Airport. It sits along a nearly two-mile stretch of the 12-lane Sam Rayburn SH121 Tollway with three full on/off interchanges that connect directly to the site. Craig Ranch has unique amenities including the TPC Craig Ranch golf course and the Cooper Fitness Center. More information on the Employment District can be found at craigranchcommercial.com.
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