Westlake, Texas, September 19, 2017
First phase of new facility to bring up to 2,600 new jobs to area as Schwab expands Texas footprint with third employment center
Today, Charles Schwab & Co., Inc., hosted a groundbreaking event for its new Dallas-Fort Worth area campus at Circle T Ranch in Westlake. Texas Governor Greg Abbott, Hillwood Chairman Ross Perot Jr. and Westlake Mayor Laura Wheat were among the officials who joined founder and Chairman Charles (“Chuck”) Schwab and nearly 200 members of the community and local Schwab employees to kick off the construction of the first phase of Schwab’s campus that will house up to 2,600 employees when fully completed in early 2019.
“Texas is an important part of the Schwab family, and we’re glad to put another stake in the ground here,” said the founder. “We’re very optimistic about where we’re headed as a company and our future here in Texas. One of Texas’ great strengths is its optimism and perseverance, which we’ve seen in such a dramatic way in the face of the recent Hurricane Harvey.”
As part of their commitment to Texas, the company and its employees, Schwab Charitable funds directed by clients, and the founder and his wife Helen’s family foundation have all been actively involved with significant financial support and volunteer activities in the state. The beneficiaries include the American Red Cross, Habitat for Humanity, the Houston Food Bank, the Rebuild Texas Fund and the Hurricane Harvey Relief Fund. Schwab is also supporting Boys & Girls Clubs of America and Donors Choose, as they rebuild their clubs and classrooms damaged by the hurricane.
Schwab’s new DFW campus at Circle T Ranch in Westlake
Today’s groundbreaking marks a milestone in Schwab’s growth in the DFW area and in the state of Texas. Schwab first opened its Westlake service center in July 2016 in a leased office building at 2050 Roanoke Road and has since brought more than 350 jobs to the area. Schwab will continue to expand and hire in the leased space, which can accommodate up to 900 employees. Upon completion of the new construction, all employees will transition from the leased office building to Schwab’s 500,000-square-foot, 70 acre campus. Phase one of the campus will include two office buildings, an amenities building with a café and a large meeting space and training center, and a parking garage.
“We’ve been present in Dallas Fort-Worth for 40 years, but we are excited to deepen our roots by opening a major employment center here,” said Dennis Howard, Executive Vice President and Chief Information Officer for Schwab, and the firm’s senior leader in Texas. “We have already begun to tap into the tremendous talent in and around Westlake, and are eager to ramp up our recruiting efforts as we build our campus.”
The new campus, which is set on Turner Lake and incorporates a public park, is located in a highly visible, desirable location. Just 20 minutes from DFW Airport, off State Highways 170 and 114, the campus is located in the new Circle T Ranch development, a mixed-use, master planned community which will include shopping, restaurants, hotels and other amenities.
As with other Schwab locations, the new DFW campus is designed to create a sustainable, visually appealing site that will reinforce the company’s identity in the greater DFW community. The site and buildings will all incorporate sustainable materials and systems, targeting LEED (Leadership in Energy and Environmental Design) Gold certification.
“Our corporate real estate team continues to deliver world-class results in building functional, beautiful campuses that reflect our employees’ spirit of teamwork, collaboration and passion for their work, and we are thrilled for their plans to make our DFW facility another great place to work,” said Howard.
History of Schwab in Texas
While San Francisco remains Schwab’s corporate headquarters, Westlake is one of ten geographically important employment centers for the company. Three of these centers are in Texas. The company’s major employment centers, ranked by size (largest to smallest), are Denver, Phoenix, Austin, San Francisco, Orlando, Indianapolis, Richfield (Ohio), Chicago, Westlake and El Paso. Schwab currently has approximately 16,000 employees nationwide, including almost 2,500 working in the Lone Star State. In addition, Schwab has more than 340 retail branch offices across the United States, and also provides 24/7 phone service via live representatives 365 days a year.
Schwab has had a presence in Texas since 1977 when the company opened its first Texas branch office in Dallas. The state now has 22 Schwab branch offices, seven of which are in the Dallas-Fort Worth area. The company opened its Austin service center in 2000, where it currently houses 1,700 employees and is in the process of completing construction on a 469,000-square-foot, 50-acre campus at 2309 Gracy Farms Lane. The company is also continuing to build its presence in El Paso, following the opening of a facility there in 2014.
Schwab has been named a Top Workplace in Austin by the Austin American-Statesman since 2013, and was recently named one of the Best Companies to Work for in Texas by Texas Monthly magazine.
Nationally, Schwab has been recognized as a Best Place to Work for LGBT equality (100 percent rating on the Human Rights Campaign’s Corporate Equality Index since 2004) and as one of the FORTUNE “World's Most Admired Companies®” 2017. For five consecutive years, Schwab has received the Gallup Great Workplace Award and been named to the list of “Top Military Friendly® Employers.” Schwab most recently received the Civic 50 Award from the Project of Light Foundation, recognizing the firm for its employee volunteer and community engagement programs. For information about careers at Schwab, visit www.aboutschwab.com/careers.
Quick Facts about the New Schwab DFW Campus in Westlake
- Location: Corner of State Highways 170 and 114 in the new Circle T Ranch development
- Size: 500,000 square feet of office space on a 70-acre site
- Buildings: Two office buildings; Amenities building with a café and large assembly space/training center and outdoor meeting areas; Parking garage
- Completion: Early 2019
- Contractor: DPR Construction
- Architect: Corgan
About Charles Schwab
The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 340 offices and 10.5 million active brokerage accounts, 1.6 million corporate retirement plan participants, 1.2 million banking accounts, and $3.12 trillion in client assets as of August 31, 2017.
At Charles Schwab, we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity. More information is available at www.aboutschwab.com. Follow us on Twitter, Facebook, YouTube and LinkedIn.
About DPR Construction
DPR Construction (DPR) is a forward-thinking national general contractor and construction manager specializing in technically complex and sustainable projects for the healthcare, advanced technology/mission critical, life sciences, higher education and commercial markets. Founded in 1990, DPR is a privately held, employee-owned company that has grown to a multi-billion-dollar organization with offices around the country.