Technology Stocks

AT&T (NYSE:T) Sets Aside $1m To Help Start-Ups And Acquires The Interurban Building As They Move To Expand Their Dallas Presence

AT&T (NYSE:T) has acquired the Interurban Building as part of their expansion strategy in Dallas. For now, AT&T is planning to use the building for residential purposes and although there was a change of ownership contracts in place will continue to be in effect.

The company has also committed $1 million towards helping science and math students in acquiring more skills.

Helping start-ups

The company has said that they are offering the money to eight firms and non-profits focusing on the career development of students as well as in the STEM field. The telecom company plans to award winners with $100,000 in investments as well as cover costs for their Aspire Accelerator with $25,000.

Charlene Lake, the AT&T Chief Sustainability Officer, indicated that the company is looking at innovative ways that can ensure that students acquire the necessary skills needed in the technologically driven economy especially in virtual reality and artificial intelligence.

AT&T currently focuses on investment ventures that can attract engineering personnel that can help bolster their technology focus areas which include digital advertising and wireless networking. Since 2008 the company has committed over $450 million toward skill development for non-profits such as Urban Alliance, Per Scholas and Genesys Works.

The winners of “Skills Building Challenge” will get access to the AT&T entrepreneur residence as well as with other external mentors.

Acquisition of the Dallas Building

In a statement, AT&T stated that the new building would solve the parking needs of their employees and it will not affect residents in any way. The building adjoining the AT&T tower on Akard Street is part of their $100 million redevelopment plans for their downtown Dallas campus.

The completion of their “AT&T Discovery District” which is part of the upgrading will be complete towards the end of the year. The project aims at adding new employees to their campus soon. The investment will go into interior improvements as well as other outdoor elements. The upgrade is part of the downtown Dallas 360 plan that will a facelift of sidewalks, lighting as well as landscaping which will include adding fountains.

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