Frisco Economic Development Corporation Announces Banner Year For Corporate Brands Selecting Frisco
FRISCO, TEXAS (February 15, 2023) – The Frisco Economic Development Corporation (FEDC) announced today that the city of Frisco had 16 project wins in (Fiscal and Calendar Year) 2022. During this time, four major corporate expansions were also announced for existing Frisco-based corporations. These 16 projects are expected to generate more than 5,600 Frisco-based jobs over the next several years.
“Frisco is grateful our residents voted to create the Frisco Economic Development Corporation more than 32 years ago,” said Mayor Jeff Cheney. “Our residents envisioned FEDC would become a driver in bringing high paying jobs to our community. In 2022, our FEDC more than delivered on its mission to grow economic development and job opportunities throughout Frisco. As a result, we all benefit from higher quality of life.”
One of the biggest projects announced in 2022 includes Fortune 500 company, Teachers Insurance and Annuity Association (TIAA), which is opening a regional headquarters in Frisco. TIAA’s new 15-story office tower, currently under construction near The Star in Frisco, is still the largest real-estate deal to close post-pandemic in the Dallas-Fort Worth market. TIAA alone plans to bring over 2,600 jobs to Frisco, and eventually will be the city’s largest employer.
“This past year has been a banner year for economic development in Frisco,” said Jason Dudley, chair, Frisco EDC Board of Directors. “Not only did we gain a new Fortune 500 regional headquarters operation with TIAA, but we also had three out-of-state headquarter relocations.”
Other major projects include headquarter relocations from ExteNet Systems coming from Chicago, and Boingo and Ruiz Foods coming from California, and McAfee’s regional headquarters expansion at The Star (announced in January 2023). Toshiba Global Commerce Solutions also announced the opening of an Innovation & Incubation Hub in Frisco in September 2022 and Comerica Bank has announced plans to build a business and innovation hub in Frisco in 2023. Frisco is now home to five Fortune 500 corporate innovation and research and development centers.
The Frisco EDC team nominated and received two State of Texas Enterprise Fund awards for TIAA and Boingo's expansion and relocations to Frisco.
Existing Frisco-based companies, Garver USA, The Haskell Company and Bohler Engineering, also announced plans to expand their offices in 2022. Garver expanded into 35,000 square feet of new real estate and added 55 new jobs for a total of 125 jobs, Haskell expanded into 25,000 square feet and added 61 new jobs for a total of 165 jobs, and Bohler took another 6,000 square feet for 17 new jobs.
While nationally, economic development has slowed due to market effects and slow recovery from the pandemic, Frisco is maintaining momentum. Major real estate projects such as the Offices at Southstone Yards, which is currently under construction, was announced in 2022. The 45-acre mixed-use development, located at the northeast corner of Sam Rayburn Tollway and Spring Creek, will be anchored by a seven-story, 235,000-square-foot, mass-timber office building – the first of its kind in North Texas. The development will also include residential, a hotel, retail and restaurant locations, as well as nine acres of parks and open space.
Frisco is likely to have another exciting year in 2023 – The year started off with another major economic development and tourism announcement from Universal Parks & Resorts who announced its plans to build a one-of-a-kind theme park in Frisco.
“Access to world-class facilities allow us to stand out in the market and will continue to attract top-tier corporate brands and tech firms to Frisco,” said Jason Ford, Frisco EDC President. “Looking at our project pipeline coming into 2023, we expect to maintain great momentum with more projects to announce in the near future.”
Home to numerous corporate and regional headquarters, sports and esports organizations and entrepreneurial start-ups, Frisco is one of the most desirable locations in the United States for business relocation and business expansion opportunities. For more information about the Frisco EDC, visit FriscoEDC.com.
Updated Aug. 16, 2023 to clarify that the 16 projects won in 2022 include both new companies and existing company expansions.
About the Frisco EDC
The Frisco EDC operates as a Texas non-profit corporation and is governed by a seven-member board of directors appointed by the Frisco, Texas City Council. Job number one is facilitating the creation of jobs, as the Frisco EDC’s mission is to improve the economic opportunities and quality of life for all Frisco residents. The Frisco EDC has facilitated major economic development projects, resulting in hundreds of projects and thousands of jobs in the City of Frisco. For more information, visit FriscoEDC.com.
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