Uber Set To Open Regional Hub In Dallas After Receiving $24 Million Incentive Package

Ridesharing giant Uber (UBER) is set to open a regional hub in Dallas after receiving a $24 million incentive package from local government officials.

Texas Gov. Greg Abbott said Tuesday that the state's "business-friendly environment makes Texas the perfect home for innovative companies like Uber."

Dallas County Judge Clay Jenkins added that the move "will provide a huge boost to our urban core with a positive wave that will spread across our entire county and region."

The hub will create 3,000 jobs and will have a $400 million annual payroll, with employees on average receiving a yearly salary of $100,000. The hub will be located in downtown Dallas, and could soon be serviced by an expansion of the Dallas DART subway system.

The hub will house various corporate functions of the company and could wind up being the company's largest hub outside of its headquarters in San Francisco. The announcement comes after Uber said Monday that it will sign a 10-year lease for a giant office space in downtown Chicago.

Uber is also currently building a new headquarters in San Francisco for up to 8,000 employees that will open in 2020.

Although Uber is available in over 60 countries and 400 cities worldwide, the company has struggled with profitability and had a disappointing initial public offering earlier this year.

In 2017, Uber's CEO Travis Kalanick resigned due to multiple scandals under his leadership.

Dana Krosrowshahi replaced Kalanick, but some analysts fear that Uber is losing steam because it now lacks Kalanick's growth-at-all-costs approach. The company lost $5.2 billion in the second quarter of 2019.