Frisco has the lowest unemployment rate in North Central Texas, with only 4.2 percent of its working population unemployed as of the end of April.
Nearly across the board, cities in the north central Texas area continue to rank lower than other cities in Texas and throughout the country in unemployment, according to the recently released April 2014 Texas Labor Market Review published by the Texas Workforce Commission.
The Frisco Economic Development Corp. is doing its part to keep area workers employed and create a strong workforce. EDC President Jim Gandy said the EDC has exceeded its job creation goals for the past several years.
"The economy is improving, and business development is increasing," Gandy said. "As we see that marked increase happening in the current real estate cycle, we are hopeful and confident that it's going to continue for the next several years."
Business recruitment
The EDC works to create jobs by attracting new companies to Frisco and helping existing companies expand. It has a goal of helping to create at least 2,500 direct jobs—jobs that will create other jobs—per year.
"Every job that gets created is going to be touching another job in the community as people live here, go out to eat lunch, get their car fixed or buy groceries," Gandy said.
In a city where housing growth is substantial, Gandy said Frisco must continue recruiting businesses to keep the property tax base ratio of commercial to residential balanced, which reduces residents' property tax burden.
Gandy said the tax base ratio is currently 24 percent commercial to 76 percent residential—a ratio he would like to see more equally balanced.
"A greater commercial base is highly desired," Gandy said. "The city would like to see [the commercial base] in the 40- to 50-percent range by the time the city is built out. A greater commercial tax base is very beneficial in reducing property tax burden to property owners."
Business success
Conifer Health Solutions, Gandy said, is a good example of not only the city's retention and expansion plan, but the confidence of local businesses that they can find the type of workforce they need in the community.
Conifer officially opened its new, 200,000-square-foot corporate headquarters in Frisco in March 2014, allowing the business to double its workforce.
"With our planned growth, access to the right workforce talent is critical," Conifer President and CEO Stephen Mooney said. "Frisco has a strong concentration of highly skilled, well-educated workers. We also have the benefit of solid infrastructure, roads that provide fast access to a world-class airport and many options for dining, shopping and entertainment."
He said Frisco's high quality of life and its draw to employees also factored into the decision to expand.
