The Dallas Business Journal reports an estimated 75,000 jobs are pouring into Collin County as major companies including Toyota Motor North America Liberty Mutual FedEx and CVE Technology Group move their headquarters and other major operations into the area.
Having a safe city great schools solid infrastructure and quality of workforce are the main factors luring companies to North Texas generally and Plano specifically according to Plano Mayor Harry LaRosiliere.
“From a city standpoint you have to really determine who you are and behave that way” LaRosilier said at a May 20 “State of the Business” session put on by the Collin County Business Alliance. “In our case in Plano we’ve decided that we will be the economic epicenter of Collin County. We’ve chosen to be very intentional and proactive about that.”
A recent Forbes article noted that when Toyota opens the doors on its new Plano facility it will have good neighbors in State Farm Insurance JPMorgan Chase (which is bringing 6,000 workers to the Metroplex in 2017) and Liberty Mutual Insurance (bringing 5,000 employees in 2017).
In comments made during The 2016 Economic Forecasts a collaboration between the McCombs School of Business at the University of Texas at Austin the Federal Reserve Bank of Dallas and Texas CEO magazine Mark Layman CEO of Balfour Beatty U.S. observed “There may be headwinds in other parts of the economy but for commercial construction Texas is the hottest market there is in the country and it’s going to stay that way for a while.”
Layman pointed out that Dallas continues to be spurred by Texas’ pro-business climate abundance of land for development a low cost of living and a plentiful pool of skilled labor. “If the construction industry economic cycle is viewed as a 24-hour clock it’s now early afternoon” noted Layman.