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The Economic Climate of Texas the Case for Richardson

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The Economic Climate of Texas the Case for Richardson The Economic Climate of Texas The Case for Richardson Internaonal Business Development Our Business Model The Richardson Chamber of Commerce staffs and manages all three organiza7ons. Texas Business Climate • CEOs and site selec6on consultants agree: – 2012 Texas is Governor’s Cup Winner – Most Compe66ve State Site Selecon Magazine – 2012 Texas is Best State for Business CEO Magazine – 2012-13 Best Business Climate Business Facili(es Magazine – 2013 Best State for Business Chief Execu(ve.net – 2013 A Top State for Fortune 500 Headquarters Fortune Magazine – 2013 America’s Top State for Economy & Intrastructure CNBC Texas Business Climate • Texas is #2 in the naon in terms of economic output over the past ten years. • #1 State in exports last 10 years ($250 Billion in 2011) • Texas is home to 51 of the Fortune 500 corporaons • Texas is #1 state in job creaon the last 4 years • Texas is #2 state in the number of high tech Workers and businesses in the U.S. (50% higher than #3 state) • Texas is centrally located to serve all of U.S., Canada, Lan America • Texas residents enjoy a high standard of living • Texas has a loW cost of living • Texas has NO state personal income tax • For more informaon on Texas: WWW.TexasWideOpenforBusiness.com Texas Business Climate • LoW Taxes Cost of Living Comparison Corporate Tax Rates Housing Price Comparison Texas Business Climate • Fair Legal System – Texas has passed sWeeping reforms so that innocent employers can put their money into job groWth rather than damage aWards from laWsuits. • Tort Reform • Medical Liability Reform • Skilled Workforce – Steadily groWing civilian Workforce of over 12 million people – Second largest technology Workforce in the U.S. – Highly-educated and skilled Workers • 148 ins6tu6ons of higher educaon • 177,000 undergraduate degrees/cer6ficates aWarded in 2010 Where is Richardson, Texas? In the Dallas / Fort Worth Metroplex Richardson – In the Dallas Metropolitan Area • The Dallas and Fort Worth Texas metropolitan area (DFW) has a populaon of 6.8 million people. • The metropolitan area consists of two large ci6es: Dallas & Fort Worth and 30+ smaller ci6es. • DFW has 9,286 square miles (24,100 km2) of total area and a populaon of 1.3 million people • Richardson is a city of 103,000 people that boarders the city of Dallas to the north. • Richardson is the second largest employment center in the metropolitan area second only to the City of Dallas. Richardson Workforce • Richardson’s populaon: 103,000 • 1.4 million Workers available Within a 20 mile radius • Highly educated Workforce – 50% of adults age 25 or older have a bachelors or advanced degree – 60% of the labor force has “some” college • Diverse populaon: – 58% White – 18% Hispanic – 16% Asian – 8% Black < a href="hkp://WWW.Webstat.com">< img src="hkp://hv3.Webstat.com/scripts/Wsb.php? ac=77829" border="0" alt="Web Metrics and Hit Tracker by WebSTAT" /></a> Richardson – In the Dallas click to go to Google maps Metropolitan Area Richardson: The Telecom Corridor ® City - 28.2 Square Miles Core 103,802 Populaon Telecom Corridor 11 square miles 3 square mile core Office Space - 12 Million SF Tech Space - 13 Million SF Tech Jobs - 70,000+ Tech Companies - 500+ 50+ Foreign Tech Companies Why Locate in Richardson? • The “Internaonal Business Capital of North Texas” * • Richardson is hub of “The Telecom Corridor®” • Richardson has several technology industry clusters • Close proximity to: – 10,000+ corporate headquarters in DFW metroplex – 22 Fortune 500 corporate headquarters (Dallas/Aus6n) • Highly skilled, Well educated Workforce • Easy access to Whole Metroplex via highWays, toll roads, light rail • Main campus of UT Dallas located in Richardson * Texas state legislature proclama7on - 2011 Richardson Economic Development • One of the top three technology centers in the U.S. • Large concentraon of high tech firms (600+) • Richardson is best locaon in DFW for technology companies • Major tech employers include: – AT&T - Cisco Systems - Samsung Wireless – Verizon - Elcan/Raytheon - MetroPCS – Ericsson - TriQuint Semiconductor - HoneyWell – RockWell Collins - Texas Instruments - Fujitsu – ZTE • Over 50 internaonal companies located in Richardson • Richardson Chamber of Commerce is “FIVE STAR” cer6fied by the U.S. Chamber of Commerce Sample of Largest Companies STATE FARM INSURANCE Richardson Economic Development • Richardson’s Telecom Corridor aWarded membership in Internaonal Associaon of Science Parks (IASP) as an “Area of Innovaon”. • Internaonal Economic Development Council (IEDC) aWarded Richardson the “Silver Award” for 2013 excellence in economic development regarding “Responding to Globalizaon. • Richardson ranked as #3 “City of the Future 2013-14” in Americas for FDI posi6oning and favorability. • Richardson & University of Texas at Dallas is a member of the U.S. Ignite program to bolster high speed internet of the future. Richardson Industry Clusters • Richardson Core Industry Clusters – Telecommunicaons / Wireless Technology – Semiconductor Manufacturing / Semiconductor Supply Chain – Informaon and Communicaons Technology (ICT) – SouWare – Video Gaming / Computer Animaon / Computer Simulaon – Data Centers / Cloud Compu6ng – Electronic Equipment – Defense Contrac6ng – Medical / Dental Devices – RFID – Insurance / Financial Services Outstanding Research University • The University of Texas at Dallas – Main campus located in NW Richardson – Enrollment: 20,000 – 7 schools; 3800 annual graduates – Public research university – Large internaonal student enrollment – Top ranked programs in: • Engineering & Computer Science • Management • Natural Sciences • Brain Science Technology • Arts & Technology (computer graphics / animaon) – Approaching Tier One Research University status Internaonal Programs and Resources • Richardson Economic Development Internaonal Business Programs – “Sou Landing” Office Space – Business Concierge Program (services to launch a U.S. business) - Legal firms - Internaonal banking - Accounng firms - Market analysis/business plan revieW - Staffing firms - Commercial real estate services - Translaon assistance - Business consulng – Import/ Export Assistance – Five Star Chamber of Commerce • Metroplex Technology Business Council • Relaonships With Internaonal Chambers of Commerce • UT Dallas Research and Development Projects FDI Incen6ves • State of Texas Economic Development incen6ves – Texas Enterprise Fund (Largest such fund in U.S.) – Texas Emerging Technology Fund – Texas Skills Development Fund – Tax Incen6ves – State Financing Programs • Asset-based loans for companies • leveraged loans to communi6es • Tax-exempt bond financing • Local Incen6ves – Infrastructure Par6cipaon – Tax Abatements – Fee Waivers Richardson, Texas A Global Business Loca3on Home of “The Telecom Corridor®” The Best Place in the U.S. to Launch Your Technology Business! Contact Informaon For addi6onal informaon please contact: Michael Skelton Director, Mayor’s Office of Interna(onal Business Richardson Economic Development Partnership 411 Belle Grove Drive Richardson, Texas USA 75080 Phone: 972-792-2814 Email: [email protected] Skype: mdskelton Website: WWW.telecomcorridor.com/internaonal .
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