Frisco EDC Announces New Investment Zone Program For Frisco Rail District
FRISCO, TEXAS (May 09, 2024) – The Frisco Economic Development Corporation (Frisco EDC) announced today the launch of an investment zone pilot program that provides support to qualified businesses and property owners in the Frisco Rail District.
This three-year pilot program is aimed at supporting the redevelopment of the Frisco Rail District, which is a portion of downtown Frisco located within the boundaries of 1st Street, Eubanks Street, Maple Street and Dogwood Street.
The program, approved by the Frisco EDC’s Board of Directors during an April 17 board meeting, provides performance-based matching grants for Type-A qualified improvement projects within the Frisco Rail District. Eligible improvements may include streetscapes and interior infrastructure improvements, such as upgrading sprinkler systems and electrical to meet code compliance, replacing roofing, flooring, and HVAC systems, as well as façade improvements such as awnings, canopies, or signage. The Frisco EDC board will evaluate qualified projects during a pre-approval process. Approved applicants may be eligible to receive up to a 50% reimbursement for approved development expenses after improvements are completed.
Applications are now open on the Frisco EDC website. For more information, or to apply, visit FriscoEDC.com/Businesses/Frisco-Rail-District.
“This FEDC program directly supports our City Council’s goal to revitalize downtown Frisco through beautification and initiatives supporting our downtown business owners,” said Mayor Jeff Cheney. “Our voters approved more than $68 million for downtown redevelopment projects, which will get underway beginning this summer. Collectively, these projects will grow the Frisco Rail District’s reputation as a tourism destination.”
“The Frisco EDC board is proud to launch an initiative that supports local businesses and advances the City’s priority of revitalizing downtown Frisco,” said Jason Dudley, Chair of Frisco EDC Board of Directors. “Our goal is to help attract a daytime and nighttime economy to the Rail District to support more commerce in the area.”
Downtown redevelopment is expected to kick off with Phase 1 construction beginning in August. The Frisco EDC Board also approved $3.9 million in Phase 1 infrastructure improvements. These improvements include the burial of overhead electrical lines, flat work infrastructure, regional grease trap and regional trash compactor systems.
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 small businesses, business relocation and business expansion opportunities.
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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