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 .