A quick way to measure economic growth in a city is this simple: Count the number of cranes that are dotting the sky. Everywhere you look in Frisco, Tx, you can count cranes. Most are at mixed use developments –often mixed-use developments that include housing with office buildings, retail stores, restaurants, and hotels. Others are building commercial projects that include parking garages, hospitals, and large office buildings. Most cranes are in the core of Frisco, particularly north of Warren Parkway and West of Dallas North Tollway. But it’s easy to see them at Legacy West and on the other side of Sam Rayburn Tollway, near Granite Parkway.
When you see lots of cranes, heavy equipment, and construction workers in an area, you can draw several conclusions. The local economy is growing. The local government is ambitious. Infrastructure is improving.
Even amid a global slowdown, Frisco is “growing cranes” at numerous project sites. The state of Texas and Frisco Mayor, Jeff Cheney, are continuing to attract more capital investment into the area.
With more companies looking to move and combine operations in business-friendly states, all indications suggest that investment and development in the local community will continue for years. Much of the success can be traced to support from both the city of Frisco and the state of Texas. The Texas Chamber of Commerce has encouraged policies that cultivate a sustainable economy and supports job creation through a 21st century workforce.
In 2020, The Census Bureau reported that Frisco experienced a 71.1 percent population growth rate, making it the nation’s fastest-growing city. Fifty percent of Frisco’s population identified as being a member of a race other than white. The largest non-white racial group is composed of Asians which account of 26.3% of all residents.
Like most cities in Texas, Frisco has a large foreign-born population of 19.8%. Indeed, foreign migration has a significant impact on population growth in Frisco and the surrounding Dallas-Arlington-Fort Worth metro area.
But while most Texas cities that have large Hispanic populations, most foreign-born residents in Frisco come from Asia. More specifically, people from India now account for 14% of the population in Frisco and throughout Collin County. Further, 11.0% of Frisco residents speak an Asian language at home such as Korean, Japanese, Chinese, Vietnamese, Urdu, Hindi, Bengali, Marathi, Telegu, Tami and Gujarati. Only 8.1% of residents speak Spanish and only 7.9% speak a European language such as French, Portuguese, German, Italian, Russian and Ukranian.
New Contruction Projects in Frisco, Tx
One of the most notable new projects includes Firefly Park, a mixed-use development, which will begin construction in early 2023. The 230-acre project will be built on the southwest corner of Dallas North Tollway and Highway 380 in Frisco. Firefly Park will offer 500 million square feet of commercial office space, more than 2,000 luxury residential housing units, and 380,000 square feet of retail space. The development will also feature restaurants, a music hall, and an amphitheater.
PGA of America & Omni PGA Frisco Resort
In the spring of 2022, PGA of America moved into their new headquarters at 1916 PGA Parkway Frisco, Texas 75033. In 2023, Omni PGA Frisco Resort will open which will feature two 18-hole championship golf courses, a putting course and entertainment area, and a par-3, 10-hole short course. The resort will offer a variety of dining and retail concepts, interactive virtual reality experiences and programmed entertainment for all age groups. The resort features five hundred rooms, ten ranch houses, four pools, and 127,000-square feet meeting and event space.
Future Challenges For Frisco, TX
To say the past decade has seen the birth of Frisco would be an understatement. During the past 10 years, construction and growth in Frisco has exploded, adding The Star, Home of the Dallas Cowboys and a considerable number of large buildings and developments to the city. While it’s impossible to know the future, the level of construction activity taking place suggests a bright outlook with significant growth. Here are some future challenges that Frisco must address.
Infrastructure and Planning
Frisco continues to grow by 1,000 residents each month. Aside from having a favorable business climate, for Frisco to remain one of the fastest growing cities in America, planning and investment in infrastructure must be supported and expanded at the proper rate. Being able to plan, such as where new roads and public rail systems will be constructed helps prevent the expense involved with relocating homes and businesses. Planning also has a direct impact on cost-of-living and high quality of life that attracts corporate headquarters and job creation.
In addition to infrastructure and planning, Frisco has a large and growing immigrant population. Both individuals and businesses have growing needs for local professional translation services companies that can help them communicate. While businesses in Frisco may rely on some employees with limited English-speaking skills, being able to communicate professionally is essential. Similarly, residents with limited English-speaking skills must be able to communicate clearly with doctors, nurses, attorneys, and other government officials when problems arise. But finding professional Spanish, Portuguese, Russian, Hindi, and French translators who are local, qualified, available, and affordable isn’t always easy and requires thorough evaluation.
Whether you’re looking at cranes in the sky, the diversity of Frisco’s residents, or the government statistics – all indications are the same. The Frisco area will continue to attract more business, more residents, and new opportunities. As for the upcoming decade, we’re looking at ever more, ever taller, ever larger buildings, and more corporate relocations and expansions.
Frequently Asked Questions (FAQs)
Almost 50% of Frisco’s population identifies as being a race of the white. Unlike many cities in Texas, the largest ethnic group in Frisco is Asian-Indians.
Frisco is often listed as one of the best cities in American to live in. In 2008, Frisco took top place in Money Magazine’s study of best places to live in the United States. As of 2020, the population of the Dallas-Fort Worth Metroplex is 7.6 million and is expected to climb to ten million by 2030. To keep a high quality of life, Frisco will need to be able balance its growth with infrastructure and municipal services.
The Dallas-Fort Worth metropolitan area is diverse. Several neighboring cities, including Arlington, Garland, Dallas, Fort Worth, Denton, and Plano are some of the most diverse cities in Texas. Throughout the region, Asians are a substantial part of the community, and there are large supermarkets, restaurants and clubs that cater to Asian Indians. In both Frisco and Irving, Asian Indians are the largest ethnic groups. This is primarily due to Irving’s and Frisco’s proximity to large tech companies.
Frisco is home to the Dallas Cowboys practice facility, known as the Star. It is also home to PGA of America and Omni PGA Frisco Resort, which features two 18-hole championship golf courses. The 2020 Census listed Frisco, Tx as the fastest growing city in America and it is often rated in magazines as being one of the best cities in the United States.