Schlumberger now has a clear path to relocate its HQ to Sugar Land, expanding and improving its existing campus there: City council unanimously approved an incentive package last night.
The oil and gas services firm’s long-term plans call for a move of its national HQ from the Galleria to the southwestern suburb. Schlumberger will improve the site on its 32-acre campus at the intersection of US 90A and Gillingham Lane. Plans call for obsolete buildings to be demolished, reconstruction of landscaping and utility repairs. The company will build a 100k SF amenities building and more than 250k SF of Class-A office space with construction expected to wrap up by late 2017.
Sugar Land economic development director Jennifer May (whom we snapped with colleague Robert Lung in May) touted the deal as the most significant economic development in Sugar Land’s history, as reported by the Houston Chronicle. Incentive highlights include a $2.5M direct incentive paid over 10 years, a widening of Industrial Boulevard and a tax abatement on real improvements and personal property. [HC]
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