The organization, located at 7300 SH 121, Ste. 200, McKinney, was founded in 1993. The MEDC is a nonprofit organization that promotes economic development, job growth and expansion of the city’s business tax base, according to its website.
The MEDC offers a variety of incentives for businesses relocating to, or expanding in, McKinney, according to its website. The total capital investment for projects the MEDC was involved in between 2018-23 totals nearly $750 million, according to an April 25 joint meeting of city leaders. The organization also gave over $30 million in incentives during that period.
“Over the past 30 years, McKinney has expanded rapidly before our eyes, and we cannot wait to see what the future holds,” MEDC President and CEO Peter Tokar III said in a statement on the organization’s Facebook page. “Thank you to all the outstanding residents and businesses who call McKinney home. It is our honor to serve you, and we are incredibly grateful for your commitment to our community.”
The organization also offers the Innovation Fund, a nonequity funding resource for technology companies and startups. The program has garnered 144 applicants and added over 615 jobs in McKinney since January 2020, according to the organization’s website.
The organization’s anniversary also falls on national Economic Development Week, in which economic development organizations showcase their contributions to the local community, according to the International Economic Development Council’s website.
“We couldn’t think of a better way to celebrate the 30th anniversary than by helping host this milestone event, the [AT&T] Byron Nelson [golf tournament], this week,” said Luke Gajary, MEDC marketing and social media manager, in an email.
MEDC officials plan to host a community gathering to celebrate the anniversary later this year, Gajary said.