The Frisco Economic Development Corp. is one of the city’s strongest tools for attracting and retaining businesses in Frisco. The FEDC was established in 1991 when residents approved a one-half of one percent sales tax dedicated to promoting economic development in the city. Since then, the FEDC has facilitated more than 300 economic development projects, including corporate expansions and relocations. Through sales tax, the FEDC can offer certain eligible projects economic incentives. The FEDC is run by a board of directors and a staff, which includes a president and vice president. The board oversees the implementation of a development plan for the FEDC. The plan includes goals for economic development within the city, eliminating unemployment and enhancing the local tax base through business expansion and development.