City of Richardson Announces Crescent Systems Expansion in The IQ®

The City of Richardson is pleased to announce Crescent Systems, Inc., a longtime member of the Richardson business community, will expand its operations within the Richardson Innovation Quarter (The IQ®). The project includes new office and manufacturing space, a major capital investment, and the creation of additional high-wage jobs.

Crescent Systems provides hardware and software solutions designed for harsh environments, including routers, audio/video processors, and communication servers. Its core customers include defense, government, and mission-critical operations where communication and maintenance efficiency are vital.

Crescent's Investment in The IQ®

The company is committing to long-term leases for approximately 70,000 square feet across facilities at 1155 E. Collins Boulevard and 1680 Prospect Drive, both located within The IQ®. The expansion includes an additional 14,000 square feet at the Prospect Drive site to accommodate continued growth.

As part of the project, the company will make a $1.45 million capital investment in tenant improvements and new equipment. Crescent Systems will retain 113 existing jobs and add 36 new positions over the next two years, with an overall average salary of approximately $117,000.

Economic Development Opportunity

To support the expansion, the City has approved a $150,000 Business Retention and Expansion Grant, structured around Crescent Systems' commitments to facility space, capital investment, and job creation. This investment aligns with Richardson's economic development goals to attract and retain businesses within the city's targeted industry clusters for growth.

"Crescent Systems has been an important part of Richardson's business community for many years," said City Manager Don Magner. "Its decision to expand within The IQ® demonstrates both confidence in Richardson's future and the district's role as a hub for innovation, collaboration, and long-term business growth."

Throughout its history in Richardson, the company has relocated within the community multiple times to accommodate growth, demonstrating its long-standing commitment to the city.

"From our inception in 1995 to today, Crescent Systems, Inc. is proud to have developed a remarkable legacy supporting our country's Aerospace and Defense industry here in the city of Richardson. With our headquarters here in Richardson, our presence furthers the city's rich history as a corporate hub to technological innovation and incubation. Our company's strategic goals are structured to align with the city's commitment to economic and communal growth."

How Richardson Creates A Better Climate for Business

Richardson offers one of the strongest business climates in North Texas due to a combination of factors including:

• Strategic Location in the Dallas-Fort Worth Metroplex
  • Richardson sits at the heart of the DFW region, with direct access to major highways, commuter and light rail (DART), and proximity to two major airports, making it ideal for regional, national, and international business operations.

• Thriving Industry Clusters
  • The city is home to robust clusters in technology, advanced manufacturing, and professional services. Major employers include Collins Aerospace, Raytheon, 1Finity (formerly Fujitsu), State Farm, and Texas Instruments.

• Highly Educated Workforce & Talent Pipeline
  • Richardson is in proximity to a large skilled labor force, with a high percentage of area residents holding advanced degrees. The University of Texas at Dallas, located in Richardson, fuels innovation and provides a steady pipeline of tech-savvy graduates.

• Innovation-Friendly Infrastructure
  • The Richardson Innovation Quarter (The IQ®), a 1,200-acre innovation district, supports research, entrepreneurship, and Smart City applications. It serves as a collaborative hub for startups, corporations, and university research centers.

• Pro-Business Policies and Incentives
  • Richardson offers competitive incentive programs, streamlined permitting, and economic development tools like Chapter 380 agreements and Tax Increment Financing (TIF) to support business growth and expansion.

• Stability Through Diversification
  • With a mix of industries comprised of both domestic and international investment, Richardson's economy is resilient through both strong and weak economic cycles.

Available Incentives for Investing in Richardson

The City of Richardson's Economic Development Department invites businesses considering expansion or relocation to apply for a range of incentives available to entities that demonstrate a commitment to significant capital investments, notable job retention or creation, or long-term lease agreements.

Grant opportunities are available for:

• Building modernization,
• Tenant improvement,
• Permit fee waivers, and
• Job creation.

Each application is evaluated to ensure alignment with Richardson's goals of fostering economic growth and enhancing the community's competitiveness.

About The IQ®

The Richardson Innovation Quarter, known simply as the Richardson IQ® or The IQ®, is a 1,200-acre, amenity-rich, urban tech hub in the heart of the booming DFW Metroplex. Its legacy of serving as a home to technology-focused industries and entrepreneurship stretches back to the early days of the Space Race in the 1950s. Today, The IQ® continues to evolve and boasts innovators across a wide range of industries, including advanced and additive manufacturing, biotechnology, finance, software development, and R&D, as well as hosting incubators for entrepreneurial start-ups. With more than 1,100 businesses and 20,000 workers, The IQ® spurs the creativity and collaboration that drive innovation and growth, like that between the City and The University of Texas at Dallas, which jointly share The IQ® Headquarters. The IQ® acts as a living laboratory for big ideas and groundbreaking technology.

https://www.RichardsonIQ.com

About Crescent Systems

For the past 30 years, Crescent Systems, Inc has been providing our Aerospace and Defense customers with a variety of mission critical system solutions and services. These solutions are aimed at enhancing the performance and functionality of special mission aircraft and ground-based installations, specifically intended for operations in austere environments. Founded in 1995 initially to address our nation's Defense community's multi-level secure defense messaging needs, CSI is a lead and mission systems integrator providing reliable and highly available secure solutions to strategic and intelligence customers, both in Defense and Public Safety operations.

https://www.csitx.com