Texas is investing $2.45 million to bring 434 jobs to Richardson, as part of the Texas Enterprise Fund (TEF), a program designed to attract new businesses to set up shop in the state and create new jobs.
The TEF grant will help Virtual Computing Environment Co. (VCE) establish its new corporate headquarters in Richardson, a move that is expected to generate $35 million in capital investment in the area. VCE provides information technology products and services to help organizations reduce internal costs.
The company has pledged to work with the University of Texas at Dallas to recruit new employees for its headquarters operation.
Created in 2003, TEF has invested more than $430 million. The state says it has generated 57,305 new jobs and more than $14.7 billion in capital investment in Texas.