Carrollton is about to get a serious jobs jolt. Mortgage lender Pennymac is rolling into town with a new North Texas hub that city officials say will eventually support more than 1,800 positions, all centered at a freshly leased office off Plano Parkway. A ceremonial ribbon cutting is set for Friday morning, followed by a casual reception, capping months of corporate musical chairs in the northern suburbs as employers chase shorter commutes for their workers.
New Hub Lands At 5025 Plano Parkway
The company is planting its North Texas flag at 5025 Plano Parkway, where it will initially occupy about 150,000 square feet and, if all goes according to plan, grow into the full 300,000 square feet. City officials say operations at the site are expected to be underway before the end of the year, with the building ultimately supporting more than 1,800 jobs in sales, operations and technology. Those figures are laid out in the city's economic development materials, according to the City of Carrollton.
Ribbon Cutting On Friday Morning
The grand opening fanfare is set for Friday from 10:30 to 11:30 a.m., when city leaders and company brass will officially cut the ribbon at the new office. On the guest list are Mayor Steve Babick, members of the City Council and Pennymac executives, including Chairman and CEO at Pennymac David Spector. A short patio reception with light refreshments is scheduled to follow the ceremony, according to the North Dallas Gazette.
Incentives And Carrollton's Sales Pitch
City officials are treating Pennymac's decision as validation of Carrollton's pitch as a prime spot for big employers. Mayor Steve Babick put it plainly, saying that Pennymac choosing to set up shop in the city "speaks volumes about the strength of our City as a place to do business," according to the City of Carrollton. To help close the deal, the Carrollton City Council signed off on a performance based grant worth up to $1.8 million if Pennymac hits specific benchmarks tied to the project, as reported by The Dallas Morning News. City leaders say the incentive structure is meant to keep taxpayer support linked to long term hiring and investment.
Jobs, Hiring And What Comes Next
Between the public statements from the city and the company's own materials, the Carrollton hub is slated to host roles in technology, sales, operations and servicing. Job seekers are being pointed to Pennymac's online careers portal, and the Carrollton address now appears among the company locations listed on its corporate contact site at Pennymac. Earlier coverage noted that the firm locked in one of the largest available sublease blocks in the area and that the four story office is set up with amenities aimed at supporting a sizable in person workforce, according to The Real Deal. Hiring is expected to pick up speed over the coming months as Pennymac settles into its new North Texas base.
Editor's Note: This article has been revised to clarify the title of a company executive.
