AT&T to move headquarters to Dallas

AT&T said the move would begin within weeks and is expected to be complete around the end of the year.

The move will put AT&T closer to many of its technology suppliers and help cement the Dallas area as a telecom hub. Nokia Corp., Nortel Networks Corp., Ericsson and others have major operations here.

Chairman and Chief Executive Randall Stephenson said San Antonio--where AT&T has been based since moving from St. Louis in 1992--"is a great city with much to offer and it's been good for AT&T." But he suggested it's time to move.

"We're a growing global company with customers and operations around the world," Stephenson said in a statement. "Being headquartered in Dallas will benefit our long-term growth prospects and human resources needs, and our ability to operate more efficiently, better serve customers and expand the business in the future."

The Dallas area has two airports and is home to American Airlines and Southwest Airlines, providing a more extensive network of flights across the country and throughout the world than is available from San Antonio.

AT&T, with annual sales of $118.9 billion and about 300,000 employees, expects 700 of its nearly 6,000 San Antonio-based jobs to move to offices in downtown Dallas.

Dallas civic leaders were predictably giddy.

"This is more than just bragging rights," said Robert A. Chereck, chairman of the Greater Dallas Chamber and a Wells Fargo & Co. executive. "When you get a big corporation moving in, it means more jobs, and these are higher-paying jobs that help your tax base."

"This helps confirm our status as a global telecom hub," said Bill Sproull, president and CEO of the Metroplex Technology Business Council.