The Economic Climate of Texas The Case for Richardson. Interna6onal Business Development
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- Asher Franklin
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1 The Economic Climate of Texas The Case for Richardson Interna6onal Business Development
2 Our Business Model The Richardson Chamber of Commerce staffs and manages all three organiza7ons.
3 Texas Business Climate CEOs and site selec6on consultants agree: 2012 Texas is Governor s Cup Winner Most Compe66ve State Site Selec(on Magazine 2012 Texas is Best State for Business CEO Magazine 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
4 Texas Business Climate Texas is #2 in the na6on 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 corpora6ons Texas is #1 state in job crea6on 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, La6n 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 informa6on on Texas:
5 Low Taxes Texas Business Climate
6 Cost of Living Comparison
7 Corporate Tax Rates
8 Housing Price Comparison
9 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 educa6on 177,000 undergraduate degrees/cer6ficates awarded in 2010
10 Where is Richardson, Texas? In the Dallas / Fort Worth Metroplex
11 Richardson In the Dallas Metropolitan Area The Dallas and Fort Worth Texas metropolitan area (DFW) has a popula6on 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 popula6on 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.
12 Richardson Workforce Richardson s popula6on: 103, 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 popula6on: 58% White 18% Hispanic 16% Asian 8% Black
13 < a href="hkp:// img src="hkp://hv3.webstat.com/scripts/wsb.php? ac=77829" border="0" alt="web Metrics and Hit Tracker by WebSTAT" /></a> click to go to Google maps Richardson In the Dallas Metropolitan Area
14 Richardson: The Telecom Corridor Core City Square Miles 103,802 Popula7on 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 Foreign Tech Companies
15 Why Locate in Richardson? The Interna6onal 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
16 Richardson Economic Development One of the top three technology centers in the U.S. Large concentra6on of high tech firms (600+) Richardson is best loca6on 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 interna6onal companies located in Richardson Richardson Chamber of Commerce is FIVE STAR cer6fied by the U.S. Chamber of Commerce
17 STATE FARM INSURANCE Sample of Largest Companies
18 Richardson Economic Development Richardson s Telecom Corridor awarded membership in Interna6onal Associa6on of Science Parks (IASP) as an Area of Innova7on. Interna6onal Economic Development Council (IEDC) awarded Richardson the Silver Award for 2013 excellence in economic development regarding Responding to Globaliza6on. Richardson ranked as #3 City of the Future 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.
19 Richardson Industry Clusters Richardson Core Industry Clusters Telecommunica6ons / Wireless Technology Semiconductor Manufacturing / Semiconductor Supply Chain Informa6on and Communica6ons Technology (ICT) Souware Video Gaming / Computer Anima6on / Computer Simula6on Data Centers / Cloud Compu6ng Electronic Equipment Defense Contrac6ng Medical / Dental Devices RFID Insurance / Financial Services
20 The University of Texas at Dallas Main campus located in NW Richardson Enrollment: 20,000 7 schools; 3800 annual graduates Public research university Large interna6onal student enrollment Top ranked programs in: Engineering & Computer Science Management Natural Sciences Brain Science Technology Arts & Technology (computer graphics / anima6on) Approaching Tier One Research University status Outstanding Research University
21 Interna6onal Programs and Resources Richardson Economic Development Interna6onal Business Programs Sou Landing Office Space Business Concierge Program (services to launch a U.S. business) - Legal firms - Interna6onal banking - Accoun6ng firms - Staffing firms - Transla6on assistance Import/ Export Assistance - Market analysis/business plan review - Commercial real estate services - Business consul6ng Five Star Chamber of Commerce Metroplex Technology Business Council Rela6onships with Interna6onal Chambers of Commerce UT Dallas Research and Development Projects
22 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 Par6cipa6on Tax Abatements Fee Waivers
23 Richardson, Texas A Global Business Loca3on Home of The Telecom Corridor The Best Place in the U.S. to Launch Your Technology Business!
24 Contact Informa6on For addi6onal informa6on please contact: Michael Skelton Director, Mayor s Office of Interna(onal Business Richardson Economic Development Partnership 411 Belle Grove Drive Richardson, Texas USA Phone: [email protected] Skype: mdskelton Website:
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