Page 76 - FDI Alliance International Magazine Summer 2020 Digital Interactive Issue

Strategically located 30 minutes north of Dallas, in August alone compared to last year, surpassing "We have worked hard to polish McKinney to
McKinney is one of the fastest-growing cities in cities like Plano, who only experienced a 1% increase this stage, and it is now ready to take the next
the United States you haven't heard about yet. in August, while Frisco and Allen were up by about step in its development strategy. By providing
Certainly, McKinney is not the first city that 10% and 9%, respectively, and it doesn't look like competitive incentives, smart business
comes to mind when thinking about investing in this trend will slow down any time soon. consulting and designing specialized programs
Texas. However, the city's exponentially growing that respond to today's company needs. We
population with a 327% increase over the last McKinney is not your average cowboy town. It has have been able to create a ripe ecosystem for
twenty years (1999 - 2019), business-friendly a unique, rich, and diverse spirit in part because business development and position ourselves
environment laws, the low poverty rate (5.9%), of the history that shaped it. Over the years, the as the new hub for technology," - said Peter
and impressive business development growth (23 city leadership's vision in preserving its history has Tokar III, President, and CEO of the MEDC.
major project completions amounting to more than intentionally crafted a city that offers the best of
$382M in two years) have placed McKinney as the old west combined with a vibrant present and On January 15th, 2020, the MEDC launched
the 5th fastest growing city in the United States. a promising development future. the Innovation Fund, with this exact purpose in
mind. A first-of-a-kind resource designed to spur and
There's more good news for investors: Global The McKinney Economic Development Corporation's accelerate innovation-focused startup companies'
connectivity is a huge selling point for the Dallas- (MEDC) mission is to attract capital investment, growth at various levels of revenue and funding
Fort Worth (DFW) region. In that case, the city creating jobs, and continuously improving the stages during the startup life cycle. Different from
has got you covered and is home to McKinney quality of life in the city. Currently led by Peter other types of incentives, this fund is designed to
National Airport, a first-class corporate aviation Tokar III, a well-seasoned economic development grow with the company as it scales, supplementing
airport with on-site US customs. It is also within executive with over two decades of experience, has growth during the startup lifecycle's timeliest need,
minutes of DFW International and Love Field given the organization a new mission; to position seed or few customers through their Series A and
Airports, connecting you to every major city in McKinney as the new hub for technology in the or to a more extensive customer base.
the global market. DFW region. The city has matured and developed
During COVID-19, the city has experienced steady enough to bring a new era to this hidden gem in Since its release and despite the global economic
growth for the last four consecutive months in North Texas by creating an innovation ecosystem. recession, the Innovation Fund has been quickly
sales tax revenue of at least 11% each month; 16% getting noticed by investors and companies. After

76. FDI ALLIANCE INTERNATIONAL