The game will air on ESPN at 7 p.m. local time on Dec. 20.
The bowl game is owned and operated by ESPN Events, a division of ESPN, and is affiliated with the American Athletic Conference.
"We're excited to invite two deserving teams to participate in the bowl game on an annual basis to take in all that Frisco, Texas, has to offer, from its wonderful facilities built out across this area to the hotels and, of course, the wonderful entertainment night life opportunities that exist," ESPN Event Vice President Clint Overby said. "This community has so much going on that it was a really easy decision to place a bowl game here."
Toyota Stadium, which is home to Major League Soccer club FC Dallas, has hosted the NCAA Division I Football Championship game since 2011. The stadium is in the middle of renovations that include adding new locker rooms and entrance tunnels that are more suitable for collegiate football teams. FC Dallas President Dan Hunt said the locker rooms are scheduled to be in place by early next year.
Frisco Mayor Jeff Cheney said the NCAA championship game, which will stay in Frisco at least through 2020, laid the groundwork for the Frisco Bowl to come to the city.
"We've learned through the years as far as making [these games] an extraordinary experience first and foremost for the student athlete that will be visiting our community," Cheney said. "For all the fans that will be visiting our community, we really want to make it a world-class event. ...We're hopeful that the Frisco Bowl sees everything that we've put together as a city to make this an extraordinary experience where it becomes a long-term relationship."
The Frisco Convention and Visitors Bureau estimates the Frisco Bowl will generate a $5.3 million economic impact for the region.
"This is another marquee event that we're bringing here to Toyota Stadium," Hunt said. "We're chasing a total crowd of over 2 million annual visitors that come to this stadium. That's a gigantic credit to the city of Frisco and what we've been able to accomplish with the local government and all the citizens and the school district."