Barclays Bank is planning to open a global technology support center in McKinney, Texas.

The U.K. company said in a press release Friday that the Barclays Technology Center will be located in Craig Ranch, a 2,200-acre business, retail and residential community in McKinney.

The center, expected to open this fall, will initially occupy more than 40,000 square feet of office space. It will provide technology support and develop new business management solutions, among other things.

McKinney, located 30 miles north of Dallas, is one of the fastest-growing cities in the United States and offers "an outstanding high-tech labor pool," George Fuller, McKinney Community Development Corporation Board chairman, said in the release.

Barclays began negotiating with city officials and several local organizations last December.