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$31.1 Billion in Economic Impact over 25 Years

$31.1 Billion in Economic Impact over 25 Years

“The Frisco Economic Development Corporation has been one of the most successful and productive economic development programs in the United States.”  – Elizabeth Morris, CEO/Chief Economist, Insight Research Corporation

 

A study conducted by Insight Research Corporation examined the economic impact generated by the Frisco EDC over its 25 year history from 1991 through 2015. The study determined that the half-cent of Frisco sales tax that funds economic development has proven to be a powerful tool in growing the city’s tax base and facilitating job creation.

 

Key findings:

  • $31.1 billion: cumulative economic impact of the projects facilitated by the Frisco EDC from 1991 – 2015, on the 12-county Dallas-Fort Worth Metropolitan Statistical Area

  • 38x growth, $25.028 billion from $654.7 million in assessments: total tax base growth over the Frisco EDC’s 25-year history

  • $23.37 for every $1.00: return on investment to Frisco’s tax base for every dollar of Frisco EDC investment

  • 27,213 jobs: direct, on-site jobs created in Frisco, TX by employers of Frisco EDC-related projects. That’s one in every five jobs in the city.

  • Jobs Created Every Year for 25 Consecutive Years: Despite national economic downturn, Frisco EDC project-related employers continued to create employment opportunities every year from 1991 – 2015

  • 345: number of separate projects facilitated by the Frisco EDC, intended to leverage the growth of the city’s tax base. The assessed value of those 345 projects was $2.028 billion, or 8.1% of the city’s total property tax base as of January 1, 2015.

 

“The half-cent of city sales tax used to fund economic development has helped facilitate amenities that not only increase the city’s tax base, but also make Frisco a sought-after destination to live, work and visit. The investment in quality development continues to attract a skilled workforce. That talent is what corporate decision-makers look for when making a choice about relocating a corporate or regional headquarters, ultimately bringing more jobs to the community.” – James L. Gandy, CEcD CCIM, President, Frisco EDC

 

Read the complete study by Insight Research Corporation

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