Arlington's economic landscape is poised for a significant uplift with the Texas Trust Credit Union pledging not just to remain in the city, but also to expand its headquarters and workforce. According to an article by the City of Arlington's official news, the credit union is set to move its headquarters to 1531 North Cooper St., with the promise of creating 175 jobs by the middle of 2026 and investing over $15 million into the project.
Enhancements to the existing building are extensive, and include a slate of modernizations such as revamped HVAC and elevator systems, lobby renovations, and external improvements. Josh Mejia, an economic development specialist at the City of Arlington, expressed his enthusiasm about the collaboration. "We are excited about the impact this partnership will have on the City of Arlington and Texas Trust Credit Union," said Mejia, as per the City of Arlington.
This development comes following the Arlington City Council's approval of a tax abatement agreement on Tuesday. Texas Trust, a stalwart in Arlington since 1936, stands to benefit from a 75% tax abatement on increased property value for a duration of ten years, contingent on meeting specific improvement and employment targets by the end of 2025. This incentive is a testament to the City's commitment to nurturing long-standing local businesses and stimulating economic progress within the region.
The strategic positioning of the new headquarters at the intersection of I-30 and Cooper St is of particular significance. "The City of Arlington is thrilled to support Texas Trust Credit Union's strategic expansion at the key I-30 and Cooper St. intersection," Gus Garcia, director of economic development for the City of Arlington, told the City of Arlington's news service. He also highlighted the initiative's potential to increase Arlington's prominence as a vital node within the DFW metroplex, and its ability to attract further transformative redevelopment and corporate relocations.
