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An Austin-based electronics manufacturing firm is working on plans to move into bigger offices in Plano to add nearly 100 jobs to its existing 165-person workforce.
Plano City Council is expected to vote Monday night on an economic development agreement that would award a $470,9000 cash grant to Virtex to aid with the move into 65,000 square feet of office space at 2801 E. Plano Parkway. The company will vacate its 45,000-square-foot office at 3601 E. Plano Parkway.
The project has been in the works since July.
Virtex serves the military and aerospace, space and satellite, and industrial and medical markets. It operates offices in Austin, Plano, New Jersey, Virginia, Wisconsin, Minnesota, Massachusetts, New Hampshire and Mexico.
“It’s big for us to be targeting redeveloping, expansion and retention, especially in these times,” said Doug McDonald, Plano’s director of economic development.
The company plans over $2 million in improvements to the new office space, McDonald said.
McDonald said he expects 2023 to be a strong economic development year for Plano.
“We’re seeing, at least here in Plano, that the economy is still strong, and people are still looking around and looking to come here,” McDonald said. “I think we’ll have a pretty good rebound in 2023.”
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