Frisco, Texas - Economy

Economy

Like many Dallas suburbs, Frisco is accumulating a tremendous number of retail properties, including Stonebriar Centre (opened August 2000), a 165-store regional mall, and IKEA (opened 2005), a furniture store with an area of 28,800 square meters (310,000 sq ft). Retail establishments and restaurant chains line Preston Road, which is one of the major north-south-running traffic arteries in the city.

Frisco took a different economic track than many surrounding cities and elected to use a fractional percent of local sales tax to fund the Frisco Economic Development Corporation (FEDC) rather than DART, the regional transportation body. The effectiveness of the FEDC, whose primary purpose is to reallocate such tax dollars to commercial ventures, is a matter of public debate.

Frisco also built Frisco Square, a mixed-use development that will become the new downtown. Frisco Square has about 250 rental residential units, seven restaurants, about 40,000 square feet (3,700 m2) of commercial office space and a few personal service locations. The major development in the project is the new City Hall and main library and a public commons. A Cinemark theater opened in December, 2010. A hospital will soon be opened north of the theater.

According to the City's 2010 Comprehensive Annual Financial Report, the top employers in the city are:

# Employer # of Employees % of Total City Employment
1 Frisco Independent School District 5,000 11.41%
2 T-Mobile USA 1,500 3.42%
3 City of Frisco 1,102 2.51%
4 Mario Sinacola & Sons Excavating 603 1.38%
5 Collin County College - Preston Ridge 550 1.25%
6 Amerisource Bergen Specialty Group 500 1.14%
7 CLA USA, Inc 450 1.03%
8 IKEA Frisco 400 0.92%
9 Market Street 300 0.68%
10 Tenet Texas RBO 300 0.68%

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