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Workforce and corporate presence in Frisco, TX

If you drive 30 minutes north of Dallas, a straight shot on Dallas North Tollway, you will find the economic booming city of Frisco, TX. With its suburban single-family houses and low crime rate, this city attracted a 210% population growth since the 2000 census. Also, there are many companies moving to Frisco, TX due to strategies that have a focus on helping the development of small businesses and improving the quality of the workforce in such a way that it attracts, retains and expands industries. 

The major focus of the Frisco Economic Development Corporation is to improve the quality of life for Frisco’s residents. It is no wonder that such a strategic plan brought along with it the title of the Fastest Growing Community of America for 2020.

Why are companies moving to Frisco, TX

Wanting a city to be a great place to live means that it also needs to be a great place to work. How did the Frisco development team manage to do that? The answer is simple but oh so complicated at the same time. Strategic planning, smart business tactics and implementing an infrastructure that offers corporations everything they need in order to succeed. 

Becoming a magnet for a skilled workforce, Frisco does not hinder its development as the next chapter in its success story as the Frisco North Platinum Corridor. Some of the projects involved here are either in the works or already finished, like The Star or National Soccer Hall of Fame but how does it really work?

The Plan

A long-term vision is still being implemented in Frisco and everyone is a part of it. From residents to developers, the city, the convention, and the visitor’s bureau focused on the key factors towards the sustainable economic growth of the city.

Tourism is considered important to the economic development of a city. It provides benefits to the entire community and Frisco became a destination venue for youth, amateur, and professional sports.

Educated youth is another thing that brings investors into a city. A good education system, a skilled workforce, and an entrepreneur’s way of thinking make companies aware of the potential of development. Coming here means that not only will your company have a strong and capable workforce, but the most important thing is the support that young startups receive. Inspire Park is the name of the organization that helps make entrepreneurs’ dreams a reality. Offering counsel and providing access to research facilities is something that any new entrepreneur needs. It inspires development and goals are easier to reach with expert insights from corporate partnerships.

Once the business is up and running, Frisco’s Economic Development Corporation assists companies towards their success. Several programs have been developed with such a purpose. From offering continuous training and corporate education to creating a platform that makes it easier for candidates seeking positions to find available opportunities or even collaborations with LinkedIn, Frisco EDC is the first corporation of its kind in the U.S. to offer such options.

The Effect

Aside from receiving the title of The Fastest-Growing Community in America and the 210% population growth from 2000 to nowadays, the corporate presence of modern Frisco, TX glimmers with eight million square feet of shopping, 1,500 hotel rooms, four professional sport teams and, the most important element, 9,000 + businesses which improve the lives of over 77k people in Frisco.

Why take jobs in Frisco, TX

Employment opportunities play a big part in why people move to another town or state. When you look into the job market, one thing that demonstrates how strong employment is in an area is the income per capita and the median household income. The unemployment rate is another indicator of the overall health of the economy. Jobs in Frisco, TX, with the booming market of Texas and the focus shown for economic growth by the municipalities, makes Frisco one of the best cities to relocate in America.

Stats and Numbers

With an average income of $76,000, it’s no surprise that it is a very attractive market. When it comes to the median household income of $120,000, Frisco trumps both Texas and the U.S. when it comes to the median household income. The unemployment rate kept dropping over the last few years and now it reached 3%, 38% lower than the national average.

If you think of the fact that 97% of Frisco’s working population is employed, insured and married (70% actually), and has access to schools that get average test scores of 91%, everything that this city has to offer leans towards its growth and economic development. It all works together to keep the city population’s growth to 5% annually.

In regards to the occupations held by Frisco’s residents, because of the number of business headquarters and entrepreneurial spirit, over 56% of the working residents are concentrated in Management, Business, Science and Arts. The next highest percentage in occupations is 25.5% for Sales and Offices. The best-paid jobs in Frisco, TX, however, are the Mining, Quarrying, and Oil and Gas Extractions with earnings that exceed $133,000. The lowest-paid are unfortunately those in Accommodation and Food Services at around $16,000. 

No state income taxes

Texas is a tax-friendly state, which means that working here means that your salary will be free of state taxes. This, subsequently means that your take-home salary will be higher than it would be in other states and it will allow for more spending on the basic cost of living purchases.

A city that has a population of over 188,000, a recent job growth of 3.26% and a future job growth predicted at 55.66%, this entertaining and lively suburb of Dallas is attracting new families and businesses every day. While houses can be relatively more expensive in the area, the cost of living is cheaper than in the rest of the country if you take into account the average income.  It connects the workforce and the corporate presence in such a way that neither the companies nor the job applicants feel left out or being at a loss of anything really. Contacting some of the top real estate agents in Frisco TX, available on The Official Real Estate Agent Directory®, you can set the wheels in motion to secure the best deals for a great life. With a stable market, above-average salaries and a workforce that is constantly improved and challenged, the city’s goal of maintaining a population growth of 5% annually and constantly improving the quality of life isn’t improbable to achieve. 

If there’s anything else that might interest you about Frisco or about the corporate presence there, don’t hesitate to comment. Like and share this content and we’ll make sure to provide more for your curiosities.

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