Chevron to build 50-story office tower in Houston

Posted Wednesday, Jul. 03, 2013  comments  Print Reprints

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Chevron Corp. said Wednesday that it will invest millions of dollars to build a 50-story downtown office tower in Houston, adding 1,752 jobs to its existing facilities.

Gov. Rick Perry’s office said the Texas Enterprise Fund will contribute $12 million to the project. The fund is a pot of money used to close deals that attract outside businesses to the state.

“Employers looking to expand or relocate their businesses continue to choose Texas’ strong job creation climate, low taxes, smart regulations, fair courts and skilled workforce,” Perry said in a statement.

Chevron’s new investment will include a 1.7-million-square-foot tower that will house professional, technical and administrative workers to accommodate the oil company’s growth in Houston to support its global operations.

The building will join two others in downtown Houston that Chevron already occupies. The company said all three will create an urban campus with indoor and outdoor common areas, enhanced dining facilities, a fitness center, training and conference facilities, and additional parking.

Chevron has about 9,000 employees and contractors in Houston, where nine of its businesses are based.

“The Lone Star State and its largest city play a vital and growing role in Chevron’s global business,” said Bereket Haregot, president of Chevron’s Business and Real Estate Services group.

The company said it will keep its corporate headquarters in San Ramon, Calif., where it has about 3,000 employees.

Houston Mayor Annise Parker said the city is excited by Chevron’s new investment.

“The company’s expansion, supported by the Texas Enterprise Fund grant, will broaden its local presence even more, boosting the local economy with hundreds of new jobs while also fostering synergy and collaboration with their existing business units and other Houston businesses,” Parker said.

The Texas Enterprise Fund, overseen by Perry’s office, was created by the Legislature in 2003 and has been used to persuade firms to expand in Texas. Projects financed by the fund must be approved by the governor, the lieutenant governor and the Texas House speaker.

The governor said the fund has invested more than $498 million and helped close the deal on projects generating more than 69,000 jobs and $20.8 billion in capital investment statewide.

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