April 8, 2009
FOR IMMEDIATE RELEASE
Governor’s Office of Economic Development and Tourism Approves Ryan Texas Enterprise Project.
-- Ryan, the leading tax services firm in North America, with the largest transaction tax practice in the United States and Canada, today announced that the Texas Governor’s Office of Economic Development and Tourism has approved Ryan’s application for designation as an Enterprise Project.
The Texas Enterprise Zone Program (“Program”) is an economic development tool for local communities to partner with the State of Texas to encourage job creation, job retention, and capital investment in economically distressed areas of the state. To qualify for the Program, the local municipality must nominate a business for an Enterprise Project designation. In October, Ryan was nominated by Councilmember Linda Koop and was supported by an overwhelming majority of the Dallas City Council.
Ryan will be eligible to receive Enterprise Project tax rebates of approximately $927,500 to support the Firm’s $5.5 million of new investment in infrastructure and technology, as well as the retention of 271 jobs and the creation of more than 100 new full-time professional jobs in Dallas. The Firm recently signed a ten-year lease extension at Three Galleria Tower in North Dallas and plans to make substantial investments in technology, equipment, infrastructure, and facilities to accommodate domestic and international growth. Ryan was ranked the 7th
fastest growing private company in Dallas at the 17th
Annual Dallas 100TM
Awards Ceremony in 2007.
“It is exciting for Ryan to receive a designation to participate in the Texas Enterprise Zone Program after representing many clients who, with our help, have received an Enterprise Project designation,” said Ginny Buckner Kissling, Ryan Principal representing the Firm’s initiative.
“We are pleased with the tremendous vote of confidence from the Governor’s Office and the Dallas City Council acknowledging that we are making a meaningful investment that creates jobs and growth right here in our community. In these tough economic times, our city officials must use every tool available to ensure job growth and expand the tax base. Since Dallas pays its fair share to the state to support incentives like this, the use of Enterprise Zone Program funds to retain jobs and secure more than 100 new jobs for Dallas makes good business sense,” said G. Brint Ryan, Managing Principal of Ryan. “While our Firm is pleased to have the moral support of the Council and the financial support of the State of Texas, the real winner here is the City of Dallas, which will be the beneficiary of more than $5.5 million in new investments and more than 100 new professional jobs.”
Ryan is an industry leader in assisting corporations with optimizing capital investments by aligning their business strategies and vision with the priorities of state and local jurisdictions, providing tangible economic benefit to their clients and the communities where they reside. Working with the Governor’s Office of Economic Development and Tourism and local communities throughout Texas, the Firm has utilized the Program to attract more than $6.5 billion of capital investment to the state, representing over 46% of the total capital investment made through the Program. These investments have created or retained over 31,000 Texas jobs.
Ryan is the leading tax services firm in North America, with the largest transaction tax practice in the United States and Canada. Headquartered in Dallas, Texas, the Firm provides a comprehensive range of state, local, federal, and international tax advisory and consulting services on a multi-jurisdictional basis, including audit defense, tax recovery, credits and incentives, tax process improvement and automation, tax appeals, and strategic planning. With a multi-disciplinary team of more than 775 professionals and associates, Ryan serves many of the world's most prominent Fortune 1000 companies.
PRESS INFORMATION CONTACT:
G. Brint Ryan