Frontier Communications (NASDAQ: FYBR) announced it is moving its headquarters from Norwalk to Dallas.
The company predicted its relocation will add $3.8 billion and more than 3,000 jobs into the Dallas area over the next 10 years. In a statement, the company declared it was exiting Connecticut because Dallas “is a business-friendly city that is conveniently located in the middle of the company”™s national footprint, which makes it easy to reach its customers and more efficiently manage its operations across the country.”
Frontier”™s new headquarters will be based in a new 95,000-square-foot office space called the GigaHub in Uptown Dallas, and the company pledged to spend approximately $1 million per week to “upgrade and improve its fiber-optic network in the Dallas metropolitan area.”
The company added that it “will maintain a strong presence in Connecticut,” but offered no details on how many Connecticut-based jobs will be lost, nor did it provide a timeline on when the new Dallas headquarters will be operational.
“It”™s official ”“ Dallas is now home base for Building Gigabit America,” said Frontier”™s CEO Nick Jeffery. “Moving our headquarters to Dallas makes good business sense given the city is already home to hundreds of our corporate employees and sits in the middle of one of our most important fiber markets. With a fast-growing economy and large, diverse pool of talent, Dallas is quickly becoming one of the nation”™s top business cities. We”™re proud to be part of it.”
