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Richardson Texas-- Telecom Corridor Area of Innovation Telecom Corridor® Area of Innovation International Business Development Our Business Model The Richardson Chamber of Commerce staffs and manages all three organizations. Texas Accolades • CEOs, site selection consultants and publishers agree: – 2014 Texas is Governor’s Cup Winner – Most Competitive State Site Selection Magazine – 2014 Texas is Best State for Business - 10 years in a row CEO Magazine – 2014 Texas Best State for Economic Climate& Future Job Growth Forbes Magazine – 2015 Best State for Business Chief Executive.net – 2014 A Top State for Fortune 500 Headquarters (52) Fortune Magazine – America’s Top State for Economy & Infrastructure CNBC DFW Accolades – Texas Electric Grid #1 in U.S. Gridwise Alliance – Texas One of the Top 10 States for Lowest Overall Tax Burden The Tax Foundation – Dallas Metro #1 Great City for Starting a Business Kiplinger – DFW in the Top 15 – America’s New Brainpower Cities New Geography – Dallas Metro is the Best Place for Startups U.S. Chamber of Commerce Foundation Texas Economy • Texas is the #1 exporting state in the U.S. (10+ years) • Texas is the #1 technology exporting state in the U.S. • Texas is the #2 economic output state in the U.S. • Texas has the 2 nd largest technical workforce in U.S. • Dallas/Fort Worth Metro Area #4 in U.S. (7M population) • Texas #1 fastest growing population in the U.S. • Texas #1 fastest growing economy in the U.S. • Texas #1 state in job creation the last 10 years – Created 33% of U.S. jobs since 2004 • Texas is home to 51 of the Fortune 500 corporations • Texas ranked as #1 business friendly state in U.S. Texas Business Environment • Texas is centrally located to serve all of U.S., Canada, Latin America; South America; Caribbean • DFW International Airport #3 busiest in world. – Direct flights to all major U.S. cities – 3 hour flights to east coast & west coast • Texas ranked as one of the lowest corporate tax states • Texas has ZERO personal income tax • Texas cost of doing business 25-30% lower than California/NY • Texas residents enjoy a high standard of living • Texas residents enjoy a low cost of living Texas Business Environment Low Taxes Cost of Living Comparison Dallas 92 Atlanta 96 Detroit 99 U.S. Average 100 Miami 106 Chicago 117 Philidelphia 126 Boston 132 Los Angeles 136 Washington, D.C. 140 San Francisco 164 New York 216 0 50 100 150 200 250 Source: C2 Cost of Living Index, 2010 Annual Average Data Corporate Tax Rates Texas 1.60% Florida 5.50% Georgia 6% Washington 6.40% Maryland 7% Connecticut 7.50% New York 7.50% Delaware 8.70% California 8.84% New Jersey 9.36% Massachusetts 9.50% Pennsylvania 9.99% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% Source: The Tax Foundation, ww.taxfoundation.org Housing Price Comparison Georgia 247,477 Pennsylvania 254,253 Texas 265,531 Delaware 317,074 Washington 333,018 Maryland 356,424 Florida 364,135 New Jersey 441,060 Massachusetts 534,882 California 566,537 Connecticut 583,239 New York 690,183 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 Source: Trulia 2011 Where is Richardson, Texas? In the Dallas / Fort Worth Metroplex < a href="http://www.webstat.com">< img src="http://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 ® Area City - 28.2 Square Miles Core 103,802 Population 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 North Texas Technology Beginnings • North Texas technology industry started in 1950’s – Texas Instruments -oil & gas instruments/semiconductors – Collins Radio (Now Rockwell Collins) – communication equipment • Telecommunications Industry growth 1970’s- 1980’s – High concentration of telecom companies – Telecom Corridor began – Today - largest concentration of telecom/wireless companies in U.S. AT&T Verizon MetroPCS Cisco Alcatel-Lucent Huawei ZTE Tektronix Fujitsu Net/Com Hitachi Com/Tech Anritsu Amdocs Samsung Wireless Multiple Industry Clusters • In addition to Telecom/Wireless industry North Texas has: – ICT – Semiconductor – Data Centers – Software / Cloud Computing – Computer gaming / Animation / Simulation – Nanotechnology – Cleantech / Power management – Medical Devices / Bio Science – Financial/Insurance Services – Aerospace – Defense contracting – RFID/NFC Richardson Hub of Technology • North Texas one of the top 4 technology areas in U.S. • Richardson is the technology Hub of the North Texas • Richardson has 500+ technology firms in 11 square mile area • Richardson is 2 nd largest day time employment center in DFW • Richardson/Telecom Corridor Area of Innovation – IASP member • Richardson is the International Business Capital of North Texas • Close proximity to: – 10,000+ corporate headquarters in DFW Metroplex – 21 Fortune 500 corporate headquarters in DFW – 1.2 M highly skilled, well educated workforce • Easy access to whole Metroplex via highways, toll roads, light rail • 30 minute drive to DFW International Airport and Love Field Richardson Economic Development • Richardson’s Telecom Corridor awarded membership in International Association of Science Parks (IASP) as an “ Area of Innovation ”. One of only 9 U.S. members. • International Economic Development Council (IEDC) awarded Richardson the “ Silver Award ” for 2013 excellence in economic development regarding “ Responding to Globalization ”. • Richardson ranked as “ #1 City of the Future 2015-16 ” in Americas for FDI strategy • Richardson & University of Texas at Dallas partnered as a member of the U.S. Ignite program to bolster high speed internet of the future. Outstanding Research University • The University of Texas at Dallas – Main campus located in NW Richardson – Enrollment: 25,000 – 8 schools; 6,000 annual graduates – Public research university – Large international student enrollment – Top ranked programs in: • Engineering & Computer Science • Management • Natural Sciences • Brain Science Technology • Arts & Technology (computer graphics / animation) – Tier One Research University status – Economic engine for high tech growth in North Texas Technology Industry Association • Tech Titans – Technology Association for North Texas – Over 20 years of serving North Texas technology industry – Largest technology industry association in Southwest U.S. – 325 technology firms/professional service providers • Networking • Advocacy • Workforce Development / STEM • Innovation – TechQuest / Innovation Partners Program • Match making between large tech firms and small tech firms • Match making between large tech users and local tech firms International Programs and Resources • Richardson International Business Programs – “Soft Landing” Office Space – Business Concierge Program (services to launch a U.S. business) - Legal firms - International banking - Accounting firms - Market analysis/business plan review - Staffing firms - Commercial real estate services - Translation assistance - Business consulting – Import/ Export Assistance – Five Star Chamber of Commerce • Relationships with DFW International Chambers of Commerce • Tech Titans – business networking; marketing & business development International Programs and Resources • Richardson start-up services for overseas firms – Inexpensive “Soft Landing” office space – Business concierge services • Start up check list • Market analysis / business plan review • Legal assistance (incorporation, immigration/visas, intellectual property, etc.) • International banking (Set up a bank account, letters of credit, credit lines, currency exchanges, etc.) • CPA / accounting assistance (for foreign companies) • International business consulting • Import / export assistance (export licensing, etc.) • Logistics / transportation services • Public relations/advertising services • Translation services • Relocation services • Commercial real estate services • HR/staffing services • Marketing, sales, business development services • Other services as required FDI Incentives • State of Texas Economic Development incentives – Texas Enterprise Fund (Largest such fund in U.S.) – Texas Emerging Technology Fund – Texas Skills Development Fund – Tax Incentives – State Financing Programs • Asset-based loans for companies • leveraged loans to communities • Tax-exempt bond financing • Local Incentives – Infrastructure Participation – Tax Abatements – Fee Waivers Richardson Quality of Life • Located in the “Sun Belt”, mild winters, warm summers • 30 parks and 850 acres of park land within 28 sq. miles • Public soccer & baseball fields • 16 miles of hike/bike trails • 3 golf courses: 1 private; 2 public • 5 public swimming pools & 32 tennis courts • Close proximity to professional sports venues: – Football (Dallas Cowboys), Basketball (Dallas Mavericks), Soccer (FC Dallas), Hockey (Dallas Stars) • City’s Eisemann Center – world class performing arts / symphony / corporate events • 10 regional malls & lifestyle shopping centers within 20 minute drive time • Annual Wildflower Music Festival (May); Cottonwood Art Festival Contact Information For additional information please contact: Michael Skelton Director, Mayor’s Office of International Business Richardson Economic Development Partnership 411 Belle Grove Drive Richardson, Texas USA 75080 Phone: 972-792-2814 Skype: mdskelton Email: [email protected] Website: www.telecomcorridor.com/international.
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