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Wells Fargo Gets Approval of Tax-Break Deal for New Texas Hub

Aug. 5, 2022, 1:14 PM

Wells Fargo &Co.'s package of tax incentives to build a new office in a Dallas suburb received approval late Thursday from the Irving, Texas, City Council.

The council passed a package worth more than $30 million for construction of a project that would serve as a regional hub for the bank. The term of the agreement is 25 years.

The bank is required to purchase approximately 22 acres of land near Las Colinas Boulevard and Promenade Parkway this year, then build and occupy two 400,000-square-foot office buildings and build a 4,000-space parking garage by the end ...