#United States #Economic Growth #job creation #Frisco, Texas #Frisco EDC

Frisco's Economic Development Hits New Highs

The Frisco Economic Development Corporation (FEDC) has proclaimed a landmark year for job generation and capital investment, reinforcing Frisco's standing as a premier destination for businesses. This announcement, made ahead of the midpoint of a transformative five-year strategy, showcases the remarkable progress Frisco has made in fostering a vibrant economic climate.

In the past three years, the FEDC has successfully facilitated the establishment and expansion of 70 companies, resulting in the creation or retention of almost 10,500 jobs. Remarkably, this growth has coincided with a significant reduction in the city’s labor shed, decreasing by nearly 24%. This achievement underscores the effectiveness of the city’s efforts to attract and retain major employers while greatly enhancing the region’s workforce landscape.

"Frisco has emerged as one of the most attractive locales in both Texas and the broader U.S. for businesses looking to relocate or expand," asserted Shanna Keaveny, Chair of the Frisco EDC Board. She elaborated on the city's strategic focus, noting, "By fostering an innovative ecosystem that appeals to major corporations, e-sports entities, startups, and elite sports organizations, our city is well-equipped to meet diverse industry needs. Furthermore, the expertise and diversity of our residents enable us to effectively cater to various industries seeking top-tier talent."

The last year alone saw the FEDC support 26 innovative projects alongside four significant real estate endeavors that collectively led to over 4,000 new and retained positions. The area attracted more than $1.5 billion in private capital investments, along with an impressive leasing of over 260,000 square feet and an addition of 1.8 million square feet of new commercial space. Given its burgeoning status, Frisco boasts one of the highest rates of office leasing activity in the region, with a Class A office vacancy rate standing at 6% lower than the overall regional average of 24%, according to CoStar.

"In the past year, the volume of leased space equated to three Empire State Buildings," stated Jason Ford, President of the Frisco EDC. He remains optimistic for the upcoming year, affirming that the organization is poised to sustain its momentum as it embarks on the fourth year of its strategic plan. Ford emphasized the commitment to benefitting residents through low tax rates while successfully attracting major projects to the community.

Major Projects and Investments

Among the notable real estate projects that Frisco embarked upon in the past fiscal year are:

• - Firefly Park
• - Fields West
• - The Mix
• - Toyota Stadium redevelopment and expansion

Additionally, the city has fostered a vibrant business environment, attracting numerous new organizations, including:

• - Act Digital
• - CohnReznick
• - Gannett
• - Morrison Head
• - Nomura Research Institute IT Solutions
• - RMWBH Law Firm
• - Rockwell Automation Inc.
• - Shottenkirk Automotive
• - United Commercial Energy Partners
• - Plug and Play Tech Center
• - Thomson Reuters
• - Zallpy Digital

The city has also prioritized the retention and expansion of local businesses, enlisting notable firms such as:

• - Bounteous
• - Compass Real Estate
• - Dude Perfect
• - Fortinet
• - Freese and Nichols Inc.
• - Keurig Dr Pepper
• - Layne's Chicken Fingers
• - Merrill Lynch Wealth Management
• - Parkhill, Smith & Cooper Inc.
• - Tokio Marine Highland

Future Outlook

As the Frisco Economic Development Corporation continues its mission to bolster the economic landscape of Frisco, it remains dedicated to improving opportunities for its residents while ensuring a high quality of life in an increasingly competitive environment. The FEDC operates as a Texas non-profit entity governed by a board of directors appointed by the Frisco City Council, with the paramount goal of facilitating job creation. This focus has already led to hundreds of successful projects and thousands of new job opportunities in Frisco. For further updates and information about future initiatives, residents and businesses are encouraged to visit FriscoEDC.com.