Let’s Talk Jobs & Economic Development
In the first of this series, I focused on our tax rate and demonstrated exactly how Frisco has worked to maintain one of the lowest tax rates in North Texas. Efforts to keep taxes low must not rely solely on property tax revenue. Thus, revenue generated through tourism, sales tax, and job creation becomes paramount.
Let’s take a closer look at job creation as it relates to our city during my term as mayor. Creating jobs is, and will continue to be, a top priority. I am tireless in my pursuit of companies that will enhance our already strong business base, and provide opportunities for our citizens. To this end, I have worked with countless CEOs and corporate leaders to facilitate their decision to locate to Frisco. Whether leveraging my personal contacts with the CEO and executives of Costco, or sitting down with the relocation experts of many of the companies that have since made Frisco their home, I take a hands-on approach to economic development. I am on the front lines, educating company decision makers and their employees about the many benefits they and their families will realize when locating to Frisco. In addition, I have been involved with our Economic Development Corporation and staff in the development of a new comprehensive economic strategy, and have begun implementing many of the new concepts identified in the plan.
- Let’s take a look at economic development in Frisco during my term as mayor: In 2010, facilitated or executed performance agreements with 33 projects which will construct or occupy over 1.4 million square feet of potential new space and generate potential new capital investment in excess of $264 million, and create 3,465 new direct jobs in the city of Frisco.
- Increased from 10 business agreements in 2008, to 20 in 2009 and 33 in 2010 for a total of 63 agreements, totaling approximately 2,745,589 square feet, a capital investment in Frisco of $484million and 5,270 jobs.
- In fiscal year 2011, we are now up to 7 projects, with 226,300 square feet and $40.3 million in capital investment, with the potential of 812 new direct jobs.
- New companies include Genband HQ with over 200 direct jobs created and future jobs of approx. 515. New Costco, Astadia, and many more.
In residential/other development, our accomplishments include:
- Mixed use development around the mall including Cool Springs and Post Properties, as well as the expansion of Hall Office Park and Duke Office Park.
- Newman Village was approved and is under construction – a quality mixed use, master planned community.
- Retail development expansion at Dallas North Tollway and Eldorado, including Market Street, Super Target and several restaurants.
- Super Kroger, the newest and largest concept in the DFW area.
- New, high-end, hospital approved and broke ground at Dallas North Tollway & Main.
- The just approved Phillip’s Creek Ranch development of approximately 3,700 homes, open space, parks and schools.
New Companies in Frisco include:
- Ameriflex, LLC (Headquarters)
- Oracle USA relocation to Frisco
- Sheplers, Inc.( Headquarters)
- Genband US (Headquarters)
- Quest Recycling (Expansion)
- Catalyst Health Solution (Expansion)
- Super Walmart
- Wingate Hotel
Through these many successes, it is evident that economic development and job creation has been top priority, and we have no intentions of slowing down. In addition, keeping these companies in Frisco is also key, that is why I meet quarterly with local CEOs during our “Strictly Frisco” event, and support the other numerous initiatives of the city’s business retention program. Another part of this success, includes the North Texas Enterprise Center (NTEC), a business incubator program which has aided in the sustainability of several new companies now open for business in Frisco, including MDConnection, ErgoNurse, OxySure and EmFinders. Visit our web site, www.friscoedc.com to see even more companies on the way!
Looking forward, there are many more exciting prospects on the horizon for the city. Economic development is strong in Frisco, and we have more proposals out, and more corporate interest than at any time in the city’s history. I am very proud of the team effort of the mayor’s office, city manager’s office and the Economic Development Corporation – it is a WINNING TEAM for our city.
Look for my next installment in this series, Let’s Talk Public Safety.