Plus   Neg

Uber Gets $24 Mln Grant For Its Dallas Hub; To Create 3000 Jobs

uber aug21 lt

Uber Technologies Inc. will establish a new U.S. general and administrative hub in Dallas, which will create 3,000 new jobs and more than $75 million in capital investment, Texas Governor Gregg Abbott said.

Uber will get a grant of $24 million from the Texas Enterprise Fund or TEF, a business incentive fund that is used for attracting new business to the state and to ensure their growth.

San Francisco-based Uber offers ride-hailing services, food delivery, and other forms of transportation worldwide.

The company's new hub in the Deep Ellum section of Dallas will house various corporate functions and the newly created jobs will result in a $400 million annual payroll.

"I am proud to welcome Uber's investment in the great state of Texas, along with the 3,000 jobs the company will bring to its new Dallas office. This investment will bolster Texas' continued economic success and reputation as the best state for business," said Governor Abbott.

Uber CEO Dara Khosrowshahi noted that Dallas was the first city in Texas where the Uber app was available in 2012 and Uber was excited to bring a major investment to Texas.

Dallas Regional Chamber President and CEO Dale Petroskey said that Dallas has seen the fourth-highest high-tech job growth of any U.S. metro area over the past four years.

The city is also focusing on rigorous STEM instruction in high schools and colleges to prepare its home-grown workforce for high-tech jobs.

In June, Uber had said it would pilot its Uber Air flying-taxi services in Dallas and Los Angeles as well as in Melbourne, Australia. the service will launch fleets of small, electric vertical take-off and landing or VTOL aircraft, with demonstrator flights beginning in 2020 and commercial operations in 2023.

In the latest concluded second quarter, Uber had reported a loss of $5 billion, even as revenue rose 14 percent from the year-ago period. This was Uber's second earnings report after going public in May.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT