The Economic Climate of Texas
The Case for Richardson
Our Business Model
Texas Business Climate
•
CEOs and site selec6on consultants agree:
– 2012 Texas is Governor’s Cup Winner – Most Compe66ve State
Site Selec(on Magazine
– 2012 Texas is Best State for Business
CEO Magazine
– 2012-‐13 Best Business Climate
Business Facili(es Magazine
– 2013 Best State for Business
Chief Execu(ve.net
– 2013 A Top State for Fortune 500 Headquarters
Fortune Magazine
– 2013 America’s Top State for Economy & Intrastructure
Texas Business Climate
• Texas is #2 in the na6on in terms of economic output over the past ten years.
• #1 State in exports last 10 years ($250 Billion in 2011)
• Texas is home to 51 of the Fortune 500 corpora6ons
• Texas is #1 state in job crea6on the last 4 years
• Texas is #2 state in the number of high tech workers and businesses in
the U.S. (50% higher than #3 state)
• Texas is centrally located to serve all of U.S., Canada, La6n America
• Texas residents enjoy a high standard of living
• Texas has a low cost of living
• Texas has NO state personal income tax
Texas Business Climate
Texas Business Climate
•
Fair Legal System
– Texas has passed sweeping reforms so that innocent employers can
put their money into job growth rather than damage awards from lawsuits.
• Tort Reform
• Medical Liability Reform
•
Skilled Workforce
– Steadily growing civilian workforce of over 12 million people
– Second largest technology workforce in the U.S.
– Highly-‐educated and skilled workers
• 148 ins6tu6ons of higher educa6on
Where is Richardson, Texas?
Richardson – In the Dallas
Metropolitan Area
• The Dallas and Fort Worth Texas metropolitan area (DFW) has a popula6on
of 6.8 million people.
• The metropolitan area consists of two large ci6es: Dallas & Fort worth and
30+ smaller ci6es.
• DFW has 9,286 square miles (24,100 km2) of total area and a popula6on
of 1.3 million people
• Richardson is a city of 103,000 people that boarders the city of Dallas to
the north.
• Richardson is the second largest employment center in the metropolitan
Richardson Workforce
•
Richardson’s popula6on: 103,000
•
1.4 million workers available within a 20 mile radius
•
Highly educated workforce
– 50% of adults age 25 or older have a bachelors or advanced degree
– 60% of the labor force has “some” college
•
Diverse popula6on:
– 58% White
– 18% Hispanic
– 16% Asian
Richardson – In the Dallas
Metropolitan Area
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Richardson:
The Telecom Corridor ®
City -‐ 28.2 Square Miles 103,802 Popula7on
Telecom Corridor
11 square miles 3 square mile core Office Space -‐ 12 Million SF Tech Space -‐ 13 Million SF Tech Jobs -‐ 70,000+
Tech Companies -‐ 500+ 50+ Foreign Tech Companies
Why Locate in
Richardson?
•
The “Interna6onal Business Capital of North Texas”
*
•
Richardson is hub of “The Telecom Corridor®”
•
Richardson has several technology industry clusters
•
Close proximity to:
– 10,000+ corporate headquarters in DFW metroplex
– 22 Fortune 500 corporate headquarters (Dallas/Aus6n)
•
Highly skilled, well educated workforce
•
Easy access to whole Metroplex via highways, toll roads, light rail
•
Main campus of UT Dallas located in Richardson
Richardson Economic
Development
•
One of the top three technology centers in the U.S.
•
Large concentra6on of high tech firms (600+)
•
Richardson is best loca6on in DFW for technology companies
•
Major tech employers include:
– AT&T -‐ Cisco Systems -‐ Samsung Wireless
– Verizon -‐ Elcan/Raytheon -‐ MetroPCS
– Ericsson -‐ TriQuint Semiconductor -‐ Honeywell
– Rockwell Collins -‐ Texas Instruments -‐ Fujitsu
– ZTE
•
Over 50 interna6onal companies located in Richardson
•
Richardson Chamber of Commerce is “FIVE STAR” cer6fied by
Sample of Largest Companies
STATE FARM INSURANCE
Richardson Economic
Development
•
Richardson’s Telecom Corridor awarded membership in
Interna6onal Associa6on of Science Parks (IASP) as an “
Area
of Innova7on”.
•
Interna6onal Economic Development Council (IEDC) awarded
Richardson the “
Silver Award
” for 2013 excellence in
economic development regarding “Responding to
Globaliza6on.
•
Richardson ranked as #3 “City of the Future 2013-‐14
” in
Americas for FDI posi6oning and favorability.
•
Richardson & University of Texas at Dallas is a member of the
U.S. Ignite program
to bolster high speed internet of the
future.
Richardson
Industry Clusters
•
Richardson Core Industry Clusters
– Telecommunica6ons / Wireless Technology
– Semiconductor Manufacturing / Semiconductor Supply Chain
– Informa6on and Communica6ons Technology (ICT)
– Souware
– Video Gaming / Computer Anima6on / Computer Simula6on
– Data Centers / Cloud Compu6ng
– Electronic Equipment
– Defense Contrac6ng
– Medical / Dental Devices
– RFID
Outstanding Research
University
• The University of Texas at Dallas
– Main campus located in NW
Richardson
– Enrollment: 20,000
– 7 schools; 3800 annual graduates
– Public research university
– Large interna6onal student
enrollment
– Top ranked programs in:
• Engineering & Computer Science
• Management
• Natural Sciences
• Brain Science Technology
• Arts & Technology
(computer graphics / anima6on)
– Approaching Tier One Research
Interna6onal Programs
and Resources
•
Richardson Economic Development Interna6onal Business
Programs
– “Sou Landing” Office Space
– Business Concierge Program (services to launch a U.S. business)
-‐ Legal firms -‐ Interna6onal banking
-‐ Accoun6ng firms -‐ Market analysis/business plan review -‐ Staffing firms -‐ Commercial real estate services
-‐ Transla6on assistance -‐ Business consul6ng
– Import/ Export Assistance
– Five Star Chamber of Commerce
•
Metroplex Technology Business Council
•
Rela6onships with Interna6onal Chambers of Commerce
FDI Incen6ves
•
State of Texas Economic Development incen6ves
– Texas Enterprise Fund (Largest such fund in U.S.)
– Texas Emerging Technology Fund
– Texas Skills Development Fund
– Tax Incen6ves
– State Financing Programs
• Asset-‐based loans for companies
• leveraged loans to communi6es
• Tax-‐exempt bond financing
•
Local Incen6ves
– Infrastructure Par6cipa6on
– Tax Abatements
Richardson, Texas
A Global Business Loca3on
Home of “The Telecom Corridor®”
The Best Place in the U.S.
Contact Informa6on
For addi6onal informa6on please contact:
Michael Skelton
Director, Mayor’s Office of Interna(onal Business Richardson Economic Development Partnership
411 Belle Grove Drive Richardson, Texas USA 75080
Phone: 972-‐792-‐2814
Email: [email protected]
Skype: mdskelton
