Dallas loses corporate giant as AT&T relocates across North Texas

AT&T, one of the world's largest telecommunications companies, is moving its headquarters from downtown Dallas to Plano—a decision that could have serious financial implications for the city of Dallas.

John Stankey, CEO of AT&T, shared the announcement with all company employees Monday morning.
 
"After nearly a year of consideration, deliberation and planning, we have made the decision to invest in our employee experience and construct a new global headquarters," Stankey said.

The new facility, located at 5400 Legacy Drive in Plano, Texas, will span 54 acres and consolidate AT&T's Central Dallas, Plano and Irving locations, creating what Stankey described as a "corporate campus designed for collaboration, innovation and engagement."

The company plans to begin partial occupancy in the latter half of 2028.

AT&T moved its headquarters from San Antonio to Whitacre Tower in downtown Dallas in 2008. In nearly two decades, the nature of the company and its work have evolved substantially, according to the CEO.
 
"What hasn't changed is our belief and confidence in the Dallas-Fort Worth Metroplex as the right place to operate a thriving multinational corporation," Stankey said. 

Plano leaders celebrated the announcement, welcoming the company's "world-class global headquarters" with open arms, said City Manager Mark Israelson.

"AT&T's investment reflects the strength of our community, our business-friendly environment, and our shared vision for the Dallas-Fort Worth Metroplex as a premier business destination," Israelson said in a statement to Chron Monday morning.

WFAA referred to the decision as a "significant blow" for Dallas, noting that the telecom giant is the sixth-biggest employer in the city and the largest Fortune 500 company headquartered there.

"A recent study commissioned by Downtown Dallas Inc. found that property values downtown would decrease 30% if AT&T left, representing a $2.7 billion drop in property value and $62 million loss in property taxes for the city of Dallas," as reported by WFAA.

Even with the anticipated impacts, Dallas leaders maintain confidence that the city’s future remains strong, referring to the city as a place of opportunity for workers, families and businesses of all sizes.

"In recent years, we have worked together to cut violent crime, homelessness, property tax rates, and bureaucratic red tape. We have added $27 billion in new development since 2019 and have more on the way, such as the exciting new Goldman Sachs' campus and our fast-growing 'Y'all Street' financial sector," Mayor Eric Johnson said in a statement shared with Chron on Monday. "The future of our city—and of our urban core—is bright, and this departure ultimately will open the door for us to explore new possibilities."

The mayor said the city worked to retain AT&T, but learned that the company's current leaders were set on a horizontal suburban-style campus rather than Dallas' vertical skyline. 

City Manager Kimberly Bizor Tolbert said the global telecom leader’s decision is a reflection of a company shift in structure and culture.

"Dallas is a great city for business, and we have worked tirelessly, strategically, and collaboratively to keep the company in our city limits," Tolbert said in a statement. "Business leaders have praised our successes in our urban core, which include expanded police presence and our remarkable success relocating people experiencing homelessness."

In a shared sentiment with Mayor Johnson, Tolbert said the choice was a result of AT&T’s desire for a new horizontal development with expansive acreage.

"AT&T's transition will be gradual, and the company will remain part of our city's fabric in the years ahead," Tolbert said. "Dallas is a city defined by its resilience and ability to attract new opportunities, and I look forward to working with Mayor Johnson, the Dallas City Council, our city staff, our partners, and our business leaders as we continue to shape the future of our urban core."