Frisco Economic Development Corporation Sees Record Job Growth
Frisco Economic Growth Milestone Achieved
The Frisco Economic Development Corporation (FEDC) is celebrating a significant milestone in job creation and economic growth. This innovative organization is proud to report another record year, showcasing its ongoing commitment to fostering a thriving business environment. The proactive five-year strategic plan has proven effective in attracting and retaining major companies while supporting the local innovation ecosystem.
Successful Job Creation Initiatives
In the last three years alone, Frisco has witnessed the arrival of 70 new and expanded companies, resulting in the creation and retention of nearly 10,500 jobs. Impressively, this development has also led to a reduction of the labor shed by almost 24 percent. This achievement illustrates Frisco's burgeoning reputation as one of the most desirable locations for businesses looking to relocate or expand.
A Diverse and Talented Workforce
Shanna Keaveny, Chair of the Frisco EDC Board, emphasizes the appeal of Frisco as a location for expanding businesses. She notes, "Frisco is one of the most desirable locations in the United States for business relocation and expansion opportunities. We've developed a dynamic ecosystem that attracts major corporations, e-sports, entrepreneurial start-ups, and world-class sports ventures. Our highly educated and diverse workforce enables companies to find the right talent right here in Frisco."
Real Estate Growth and Commercial Space Expansion
In the past year alone, the Frisco EDC has led or supported 26 projects, alongside four major real estate developments. These initiatives resulted in more than 4,000 jobs retained or created, alongside over $1.5 billion in private capital investment. Additionally, the corporation has leased more than 260,000 square feet of commercial space and has seen the construction of 1.8 million square feet of new commercial properties. Frisco boasts one of the highest levels of office leasing activity in the region, with a Class A office vacancy rate significantly below the surrounding area's average.
Remarkable Leasing Achievements
Jason Ford, President of the Frisco EDC, proudly states, "This past year, we leased an area equivalent to three Empire State Buildings. As we progress into the fourth year of our five-year strategic plan, we anticipate keeping this momentum with more exciting projects ahead, all while ensuring our citizens benefit from low tax rates as we attract significant development."
Highlighted Projects by the Frisco EDC
During the 2024 fiscal year, several key real estate projects are noteworthy:
Forthcoming Development Projects
- Firefly Park
- Fields West
- The Mix
- Toyota Stadium redevelopment and expansion
Additional new attractions that have recently made their way to Frisco include:
New Businesses in Frisco
- 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
Moreover, the Frisco EDC has executed numerous business retention and expansion initiatives:
Existing Business Growth Projects
- 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
About Frisco Economic Development Corporation
The Frisco EDC operates as a non-profit entity within Texas and is overseen by a dedicated seven-member board of directors appointed by the local City Council. At the heart of its mission is job creation—improving economic opportunities and the quality of life for all residents in Frisco. The organization has been pivotal in driving major economic initiatives, resulting in countless projects and the establishment of thousands of job opportunities in the city.
Frequently Asked Questions
What achievements were reported by the Frisco Economic Development Corporation?
The Frisco EDC reported the creation and retention of nearly 10,500 jobs and over $1.5 billion in private capital investment.
How has Frisco's economy changed in recent years?
Frisco has experienced significant growth, with a reduction in the labor shed by about 24%, with many new businesses and expansions contributing to the local economy.
Who leads the Frisco EDC?
The Frisco EDC is chaired by Shanna Keaveny, who works alongside a dedicated board to improve local economic conditions.
What are some ongoing projects by the Frisco EDC?
Projects include Firefly Park, Fields West, and Toyota Stadium redevelopment, among others.
How does Frisco EDC support existing businesses?
Frisco EDC focuses on business retention and expansion through ongoing initiatives that help businesses grow and prevent them from relocating.
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