Dallas, Texas, USA, 03/01/2016 /SubmitPressRelease123/
If you want to start a new venture or relocate a business to Plano, Texas, it helps to understand the current local economy. This will affect you far more than you realize, and it is a great way to know what you are getting into as a small business owner.
Steady Growth Projected
The unemployment rate in Plano is just 4.30% and annual job growth is 3.43% despite the national recession. Over the next 10 years, the amount of jobs in the area is expected to rise by over 42.30%.
The median income for every household is $83,193, and the workforce is highly educated. Most workers have at least a bachelor’s degree.
In addition to major state universities, such as Texas A&M (College Station) and University of Texas (Austin), employers can recruit locally from SMU, UTD, and Collin College. The latter started as a community college but now has grown to where it has 7 campuses, nearly 30,000 students, and offers students the opportunity to earn four-year degrees.
There are two particularly hot growth areas within Plano for businesses.
First, there is the area in West Plano, particularly near the intersection of the Dallas North Tollway and Highway 121. In addition to the existing offices for HP (formerly EDS), Dr. Pepper/Snapple, and other major corporations, there’s been a sudden influx of new jobs.
Toyota is moving its U.S. headquarters to the intersection of Highway 121 and Legacy Drive (near the Shops at Legacy). FedEx is putting in a regional office nearby, and there’s an Amazon regional office too in the Granite Park office complex.
The insurer Liberty Mutual is relocating thousands of jobs from Boston to Plano. USAA already has a tech office in the city. Chase is also consolidating thousands of banking jobs in a new Plano office.
Second, historic downtown Plano just to the East of I-75 (Central Expressway) is experiencing growth through gentrification and urban renewal.
While maintaining local shops and the historic Plano Masonic Lodge #768, the downtown area near 15th Street is growing with new condos, town homes, restaurants, coffee shops, and improvements designed to make this a pedestrian-friendly community.
One of the perqs for this area is the recent expansion of the Dallas DART rail line to the area. This makes it easy for commuting to downtown Dallas without driving.
You can learn more about business opportunities at the Plano Chamber of Commerce website.
According to Plano Business Lawyer Mike Young, the city is the epicenter of entrepreneurial opportunity in North Texas. “If you’re looking for a great place to grow your company and raise a family, Plano should be one of the places you consider,” he said.
Connect with Plano Business Lawyer Mike Young on LinkedIn at
By Mike Young Plano Business Lawyer
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