Deep Ellum News
Uber says I do to Dallas with new hub opening in Deep Ellum tower
Dallas got a yes from Uber: Thanks to a sweet incentive package, Uber Technologies, Inc. has agreed to locate a new administrative hub housing corporate functions in Dallas, specifically the Epic tower under construction in Deep Ellum.
According to a release from the city of Dallas, the project will create 3,000 new jobs and more than $75 million in capital investment.
Uber's headquarters are in San Francisco. The company offers ride-hailing/taxi services plus food delivery and scooters. As Market Watch notes, it has yet to turn a profit and lost $1 billion in the first quarter of 2019. Executives say it may take years to make money.
Uber will receive a $24 million incentive package, including more than $9.3 million in tax incentives and a five-year tax abatement from the city of Dallas, approved by the city council on August 14. Dallas County also approved a $2.6 million tax break over the next 10 years.
Mayor Eric Johnson said in a statement that the company is a good fit.
"The numbers that make up this investment package add up to a win for Uber Technologies and for the City of Dallas," Johnson said. "But beyond the math, Dallas and Uber are just a great match. Dallas is a vibrant, diverse, welcoming, and innovative city, and I'm certain Uber and its employees will flourish here."
Uber CEO Dara Khosrowshahi called Dallas innovative.
"Dallas became the first city in Texas where the Uber app was available in 2012, and since then Texas has been a hub of innovation for our platform," Khosrowshahi said. "Uber is excited to bring this major investment to Texas and to increase our commitment to the City of Dallas. We are grateful for our partnership with Governor Greg Abbott, Mayor Johnson and Judge Jenkins, and their leadership in making this a reality."
Dallas County Judge Clay Jenkins said that the decision reflects the talent that's moving to Dallas.
City manager T.C. Broadnax said that Dallas has the infrastructure, diverse workforce, and global access. "We are continuing to invest in economic development to attract and retain companies like Uber so that Dallas remains an ideal location for businesses and working professionals," Broadnax said.
