Construction underway for Monitronics new campus
FARMERS BRANCH, Texas—Construction of Monitronics’ new campus, here, is scheduled to begin May 16, according to a report from the Dallas Business Journal. The campus will become home to 1,000 corporate employees, the report noted.
The new campus is located in the Mercer Business Park, a 225-acre development in the Dallas metroplex. The company will relocate to a new three-story, 165,000-square-foot-campus facility.
Monitronics has around 800 employees right now, but the company’s workforce is expected to expand considerably in the next three years, according to John Land, director of economic development and tourism, who was sourced in the article.
The company brought its dealer total to 600 and its account base to 1 million when it acquired Security Networks last July for $487.5 million in cash, plus 253,333 newly issued shares of Ascent Series A common stock, worth $20 million.
According to the Dallas Business Journal report, Farmers Branch gave Monitronics a $200,000 cash grant, along with a 50-percent tax abatement on the property for 10 years. The agreement also includes a 50-percent sales tax abatement for seven years and a 25-percent sales tax abatement for the next eight years, the report said.