McKINNEY (Oct. 22, 2014) – It’s been an outstanding year for the McKinney Economic Development Corporation. In 2014, McKinney announced that several major businesses moved to the city and existing companies started expansion projects, bringing nearly 1,500 new jobs to the area. In addition to this continued economic growth, Money Magazine named McKinney #1 on the Best Places to Live in America list this year.
“We are really proud of how the city has grown and the value it offers businesses,” said McKinney Economic Development Corporation Board Chairman Darrell Tate. “This year we’ve had 16 successful projects that will add 1,469 new jobs, increase annual payroll by $94.5 million and add more than $90 million in new capital investment to the city’s economy.”
Highlights from 2014 include:
- China-based Hisun Motors Corporation, a leading maker of utility-terrain vehicles and all-terrain vehicles, selected McKinney as the location for the company’s North American headquarters, where it will ultimately employ 80 new corporate workers within the next three years.
- Monarch Air, a leading provider of aviation services, selected McKinney National Airport (TKI) for a major expansion. Monarch Air will lease a significant portion of a 53,750 square-foot hangar and office facility at the airport to offer a wide range of services including aircraft maintenance, flight training, charter and aircraft management.
- Encore Wire Corporation, one of McKinney’s largest employers, not only announced plans for a major expansion but also celebrated the company’s 25th anniversary in McKinney. Encore Wire plans to celebrate by investing more than $30 million to expand manufacturing facilities of residential and commercial wire, providing more than 125 new jobs. Encore Wire was also recognized by Forbes.com as one of America’s 100 most trustworthy companies in 2012 and 2014.
- UPS announced the opening of a new package distribution facility in McKinney. The facility will be located in about 215,000 square feet of the Texas Crossing building, formerly occupied by Blockbuster. UPS will bring approximately 180 new full-time jobs to the area. By 2017, UPS will also bring more than 200 part-time jobs to McKinney.
“It’s been an exceptional year for McKinney,” said McKinney Mayor Brian Loughmiller. “We have been recognized as the most desirable place to live in the country, and combined with the successful business development milestones, we know that McKinney’s time to shine is now.”
The McKinney Economic Development Corporation is funded by a one-half cent sales tax in McKinney. The funds are used to create primary jobs and grow the tax base in McKinney. Since it was established in 1993, MEDC has provided incentives to 131 projects that added more than $1.3 billion of taxable value to the local economy.
About the McKinney Economic Development Corporation
The McKinney Economic Development Corporation (MEDC) was created in 1993 to support the development, expansion and relocation of new and existing companies. The MEDC is an organization with a mission to work to create an environment in which community-oriented businesses can thrive. The MEDC is actively pursuing investments in aeronautics/aviation, corporate headquarters, emerging technology, healthcare and medical device manufacturing, professional services and renewable energy. For more information visit mckinneyedc.com.
McKinney, Texas, is unique by nature. The city is No. 1 on America’s Best Places to Live list published by Money Magazine. As one of the fastest-growing cities in the United States, McKinney has a current population of more than 149,000. Established in 1848, the city is located 30 miles north of Dallas and is the county seat of Collin County. McKinney offers rolling hills, lush trees, a historic downtown square and unique neighborhoods and developments. Visit the city’s website at mckinneytexas.org.