Celestica is moving forward with a significant expansion of its Richardson campus, combining lease renewals with a large new commitment that will keep the company in place through 2036. The company plans to renew its leases on two existing buildings and add a new lease for a 343,000-square-foot facility that is currently under construction. Once the expansion is complete, Celestica expects to occupy approximately 1 million square feet across the campus under long-term lease agreements.
To support this real estate strategy, Celestica is planning an estimated $300 million capital investment over the next two years. Those funds are expected to be deployed into tenant improvements across the leased space as well as the purchase and installation of new equipment for the campus. The investment is framed as a multi-year build-out of the company’s existing footprint in Richardson rather than a short-term or speculative occupancy.
Celestica previously relocated its operations to Richardson in 2022, and the new leasing and investment commitments represent a further deepening of its presence in the city. According to the expansion plan, the project is expected to retain nearly 400 existing jobs while creating nearly 2,300 new permanent positions over the next two years. The combination of job retention and job creation is a central element of the company’s agreement with the city.
In connection with the expansion, the City of Richardson has approved a $3 million tenant improvement grant for Celestica. The incentive is structured around the company’s promises related to long-term occupancy, the scale and timing of its capital investment program, and its job creation targets. City officials positioned the grant as part of Richardson’s broader incentives framework, which is available to entities that commit to substantial capital investments, noteworthy job retention or creation, or long-term lease agreements within the city.
Through this package of lease renewals, a new building lease, corporate investment, and municipal support, the Richardson campus is set to become a long-duration employment and operations hub for Celestica, with the new and existing space programmed for use well into the next decade.
