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Toyota site could benefit Frisco ISD
Photo by Source: Frisco ISDPlanned HQ campus may be partially in FISD taxing district
Depending on where on the northwest corner of Legacy Drive and Headquarters Drive Toyota chooses to build its new campus, it could be partially in Frisco ISD's taxing district.
Toyota on April 30 announced its intention to consolidate and relocate its U.S. headquarters to Plano, just south of SH 121, and build a new headquarters campus.
The move is expected to be complete by late 2016 or early 2017.
The economic impact on the area is predicted to be substantial.
Plano Mayor Harry LaRosiliere said the project could generate more than $70 million in property tax revenue and more than $70 million in sales tax revenue throughout the next 10 years.
FISD's taxing district extends into Plano, and the district operates four elementary schools and a middle school in the city of Plano.
The exact potential economic impact of the Toyota move for FISD is currently unclear.
"It is undetermined how the facility, and therefore the taxable value, will be laid out on the site," said Sally Bane, city of Plano economic development director.
However, even if only a portion of the new campus is built in FISD's taxing district, the district stands to benefit.
According to a Toyota news release, up to 4,000 employees could relocate to the Plano facility.
Frisco ISD officials said the district is excited Toyota is moving to the area and knows it will mean welcoming new families and students to the district.
"We will do whatever we can to help with the transition and the relocation efforts and we will be prepared to assist families and to make them feel at home," said Shana McKay-Wortham, executive director of FISD's communications and community relations department.
Groundbreaking on the new environmentally sustainable campus facility is expected to take place this fall, according to Toyota officials.
In the interim, groups of employees will work from a temporary Plano location.
"When you think about the scope of a project like this, you really think about more the multiplier effect, not only so much the jobs created by the company, Toyota itself, but the construction jobs, the restaurant jobs," LaRosiliere said.
