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PGA America Headquarters moving to Texas

Architex

Architex

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I'm beginning to think in the near future, every corporation in the U.S. will be headquartered in Texas. If the Longhorns could recruit in football the way the State recruits big business....
 
Headquarters, new golf courses and Ryder Cup to the city where I live?!


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Erikferner said:
Headquarters, new golf courses and Ryder Cup to the city where I live?!


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Looks like I’ll be trekking up to frisco Erik!


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Several of us were talking about this yesterday. I think it’s gonna be awesome & a Ryder Cup? Best day ever.


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I think it was Thursday morning when golf broke the story. I was up at 3 in the morning and woke my wife up to tell her this. Don’t think she really cared but I’m ecstatic at the idea of having a Ryder Cup in north Texas.
 
Ft Worth Golfer said:
I think it was Thursday morning when golf broke the story. I was up at 3 in the morning and woke my wife up to tell her this. Don’t think she really cared but I’m ecstatic at the idea of having a Ryder Cup in north Texas.
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I think it will be very very cool to have a Ryder Cup less than 10 minutes from my house. Can’t wait!
 
Update: Deal is finalized - Lotsa Financial Incentives

With pics:

https://www.dallasnews.com/business...ica-announces-hq-move-frisco-520-million-deal

Texas, Frisco offer more than $160 million in incentives to secure PGA headquarters, Omni resort deal


After months of swirling rumors, the PGA of America is poised to move to Frisco and create what it calls the "Silicon Valley of golf."

Tuesday afternoon, Frisco officials approved the city's share of an incentives package that would total more than $160 million — more than twice the $64 million Toyota received when it agreed to bring its headquarters here along with 4,000 jobs.

To snag the deal, Frisco emerged from a pack of more than 200 contenders across the nation seeking to lure the association from its home of nearly 40 years in Palm Beach Gardens, Fla.

In Frisco, the association will anchor a 600-acre, mixed-use development that includes championship golf courses, a resort hotel, conference center space and the association's headquarters.

Its new home will house at least 100 workers and cost the PGA at least $30 million to build. The association eventually hopes to increase the local workforce to 250.

The development, to be located at future extensions of Rockhill Parkway and Legacy Drive near Frisco's northern border, will cost more than $520 million to build, using public and private funds.

Frisco officials estimate it will have an economic impact of more than $2.5 billion over the next 20 years.

Early on, Frisco was the hands-down favorite, officials with the Professional Golfers' Association of America told The Dallas Morning News in advance of the official announcement.

"Frisco frankly jumped off the page in a number of ways," said Seth Waugh, chief executive of the PGA, which represents nearly 29,000 members in 41 sections across the country.

"While the economic [incentives] are important, and obviously that's a big consideration, the dream of what we could do at Frisco became really the biggest factor for us in terms of why we picked it. We couldn't imagine better partners."

In Frisco, officials said, PGA golf will have a single multi-functional campus that will help everything from annual meetings to a potential Ryder Cup function seamlessly. The development, which will be open to the public and partly owned by the city, is expected to open in 2022.

The venue, which is still in the pre-design phase, is already scheduled to host the PGA Championship in 2027 and 2034. The PGA Championship, one of golf's four major events, was last here in 1963 at the Dallas Athletic Club.


Courses, a resort and more

In addition to the association's 100,000-square-foot headquarters and education facility, the project will include two 18-hole championship golf courses, a nine-hole short course and practice areas for a total of 45 holes. It also will include an estimated 35,000-square-foot clubhouse; a 500-room Omni resort; and a 127,000-square-foot conference center.
There will be roughly 40,000 square feet of retail space focused largely on golf-related items.

The three courses alone account for 540 acres.

Waugh said a key aim of the project is to "grow the game and make it more relevant and make it into our kids' kids game over time. To have the chance to do that, with a blank piece of paper, with an enormous amount of capital being infused by world-class partners that we share values with and a passion for the game .... It was just kind of a once-in-a-lifetime opportunity in our view.

"It's something that we think if we get it right, could end up being sort of the Silicon Valley of golf."

He said he envisions other golf-related businesses migrating to Frisco now.

Incentives

But the project won't be cheap. And it comes with one of the richest incentive packages offered in North Texas in recent years.

As part of the deal, Frisco will contribute up to $35 million toward initial development of the public portion of the project: The city of Frisco will spend $13.3 million; the Frisco Community Development Corp., $13.3 million; Frisco ISD will spend $5.8 million; and the Frisco Economic Development Corp., $2.5 million.

Once the project is up and running, Frisco will also provide performance incentives, which include a portion of hotel occupancy, mixed beverage, sales and property taxes generated by the hotel and associated retail on the site for 20 years. Those incentives are estimated to total between $52 million and $74 million.

Also, the state of Texas will contribute all the hotel and sales taxes, along with a portion of mixed beverage taxes, collected on the project for 10 years. The state grant total is valued at more than $62.5 million over 10 years.

In addition to the $2.5 million, the Frisco Economic Development Corp. is also investing $14.3 million over 15 years for the PGA of America's headquarters relocation, job creation and PGA tournament incentives.

The 25-year agreement calls for the golf courses, clubhouse, practice areas and the conference center to be owned by the city. More than 300 Frisco high school golfers will practice at the facility weekly.

The Omni Stillwater Woods team will own the resort and operate all aspects of the project except the PGA headquarters. The Omni partnership will initially pay $100,000 a year in rent to the city. That lease will increase by 2 percent after the fifth year of the development agreement.

The Omni partnership will buy the land and convey it to the city. It will invest $455 million to buy the land and build the hotel, conference center, retail space, parking facilities and golf courses.

The land alone will cost nearly $60 million, Omni said.

Gil Hanse, whose recent work includes the Olympic golf course in Brazil, will design one of the championship courses. Beau Welling, who has had a long-term design relationship with Tiger Woods, will build the other.

If all municipal and state incentives are given, the total would be at least $163.7 million, a Frisco official said.

The golf association declined to compare the Frisco incentives with those offered by other communities.
Frisco City Manager George Purefoy said the incentives cover separate goals: building the public portion, helping encourage the headquarters move and offering enticements for future golf championships.
 
$160M in incentives for a 100 person HQ (that may go to 250)?

Am I the only who thinks that is just a tad crazy?
 
Dawgfan28 said:
$160M in incentives for a 100 person HQ (that may go to 250)?

Am I the only who thinks that is just a tad crazy?
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It's money well spent. PGA of America headquarters, plus the 3 golf courses, and the hotel, will all be great for promoting Frisco (and the State of Texas).
 
Dawgfan28 said:
$160M in incentives for a 100 person HQ (that may go to 250)?

Am I the only who thinks that is just a tad crazy?
Click to expand...

200 Contenders ... guess they had to give until it hurts.
 
Desmond said:
200 Contenders ... guess they had to give until it hurts.
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True. I get it for Amazon, Toyota etc. because its thousands of jobs.
DG_1234 said:
It's money well spent. PGA of America headquarters, plus the 3 golf courses, and the hotel, will all be great for promoting Frisco (and the State of Texas).
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I see the idea, I just can't believe they couldn't build everything else except the PGA HQ and not do basically the same thing for a lot less.
 
Good news is, they're not shutting down the Palm Beach Gardens property. Aka, it may not get neglected and turned to garbage.
 
hey nice city you got there
 
Dawgfan28 said:
True. I get it for Amazon, Toyota etc. because its thousands of jobs.


I see the idea, I just can't believe they couldn't build everything else except the PGA HQ and not do basically the same thing for a lot less.
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Part of the return on the incentives will be the economic impact of hosting 2 majors.
 
Looking forward to the 2 championship courses, the short course, and the training facilities. Wonder if they’ll be open to public or if they’ll have some sort of membership
 
PGA of America showed off their new campus, and it looks sweet.
 
So, the PGA Tour Headquarters in Ponte Vedra Beach Florida they just finished building in 2021 for a tune of 75 million is chop liver? Are they going to turn it into a homeless shelter like Musk wants to do with the Twitter headquarters? :LOL:
 
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CrashTestDummy said:
So, the PGA Tour Headquarters in Ponte Vedra Beach Florida they just finished building in 2021 for a tune of 75 million is chop liver? Are they going to turn it into a homeless shelter like Musk wants to do with the Twitter headquarters? :LOL:

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PGA of America and PGA Tour are two completely separate entities.
 
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