City ramps up economic development efforts: Number of jobs created increases for third straight year

The 2011-12 fiscal year is winding down, and the numbers show that more than 3,000 jobs have been created in Plano.

The groundwork for these jobs was carried out by Plano Economic Development, which offers economic incentives to businesses seeking to relocate to the Plano area. On Monday night, the city council approved three such agreements, which will add more than $22 million in real property and business personal property to the tax rolls.

"Our big focus is two-fold," said Sally Bane, executive director of Plano Economic Development. "One, we work very hard to make sure our incumbent businesses thrive in our community by trying to assist in retention and the opportunities for expansion. The second thing is we try and attract companies that are external to this market to our community."

The city does not actively recruit existing companies in the Metroplex unless a company first reaches out to the city, Bane said. The active recruitment of another city's businesses is not common throughout the North Texas economic development community, Bane said, adding that it is a "zero-sum game."

With 15 days left in the current fiscal year, Bane and her staff have reached incentive deals with 11 companies. The deals have created 3,069 jobs so far, with another 930 being created in the future. The jobs should have a median annual salary of $81,000. The businesses will also add nearly $160 million in real property improvements and business personal property to the city.

Of the three most recent companies to sign incentives with the city, one is an existing Plano company looking to expand, while the remaining two are moving from other areas in North Texas.

Tyler Technologies, which is currently based in Plano, will relocate to a building previously owned by the YMCA. According to the agreement reached with the city, the company will make $11.5 million in improvements to the existing building.

"This is a win-win for us," Bane said. "The property is now being returned to the tax rolls since the YMCA was a nonprofit. With Tyler being a software company and having creative employees, we feel this is the perfect setting and environment for that type of company. They are going to remodel the building and add an additional structure to it."

The other two companies -- Optisense Network and Winzer Corporation -- are relocating from Bridgeport and Dallas, respectively. Winzer is building a new corporate headquarters in Plano, something that is better suited to their needs, Bane said. The company is expected to add up to 120 jobs by the end of next year.

City Manager Bruce Glasscock said his staff, as well as the city's finance department, work closely with Bane to come up with incentives that best benefit the city. Each agreement must be approved by the city council before it can go into effect.

Glasscock said each case is considered individually and weighed on its own merits.

"We look at what kind of industry it is and what they are bringing in as well as the number and value of the jobs," Glasscock said. "It is also important if they are leasing or building and the terms of their lease. All of that goes into it."

Current Rating: 0 of 0 votes!

Rate File: Select Rating: * ** *** ****

 Plano Apartments
 Plano Attorneys
 Plano Auto Dealers
 Plano Auto Parts
 Plano Auto Repair
 Plano Beauty Salons
 Plano Car Rental
 Plano Dentists
 Plano Doctors
 Plano Flowers
 Plano Hotels
 Plano Insurance
 Plano Loans
 Plano Mortgages
 Plano Movers
 Plano Pizza
 Plano Realtors
 Plano Restaurants
 Plano Storage
 Plano Tax Preparation
 Plano Travel
 Featured
 More...