2012 brought a lot of business development activity to our community that the general public may not have seen, but the combined impact on our community is very significant. A number of company expansions and new business developments, either recently announced or currently under construction, mean millions of dollars in new investment and new quality jobs for McKinney. 2013 will be off to a great start.
The combined impact of these projects conservatively means more than 600 new jobs in McKinney and over 94 million dollars in new investment. Follow us in 2013 for more news about developments of emerging companies in McKinney.
Corporate Center Takes Off at Craig Ranch
The momentum began last year with an announcement that Traxxus, the leader in hobby class radio controlled cars, would be the first major tenant at the McKinney Corporate Center at Craig Ranch. In the last 60 to 90 days the project has been reenergized and construction has gone vertical.
Plans call for Traxxus to build a $12-15 million, 160,000 to 200,000 square foot campus-style office complex on 12 acres at the northwest corner of Sam Rayburn SH121 Tollway and Stacy Road. A retail component, test facilities and race tracks with public access are planned. They will move their current employment base, which has been growing over the past year and is now well over 100 employees, from Plano to McKinney and expect their growth will continue.
Emerson Develops New Corporate Headquarters at Gateway
Construction is in full swing at the new Corporate Development for Emerson Process Management Regulator Technologies Division at the Gateway Development at the interchange of U.S. 75 and the Sam Rayburn Tollway after a ground breaking ceremony this summer.
Emerson Process Management delivers automation and process control technologies and services to the oil and gas, power, chemical, refining and other industries. As a corporate anchor in one of the most visible development sites in McKinney, Emerson will build a three-story, 132,000 square-foot headquarters and research and development facility.
Emerson is celebrating 50 years of doing business in McKinney and employs over 140 employees in our community.
McKinney’s Largest Employer Set to Bring More Jobs to the City
Raytheon Corporation, McKinney’s largest employer, recently made a presentation to the McKinney Economic Development Corporation about plans they are considering bringing approximately 300 employees to their McKinney facility, on University Drive, which is owned by the company.
Additionally they are considering investing $11.4 million to facility upgrades and by adding new equipment. Raytheon currently employs 3,100 with an additional 300 contractors at the McKinney facility. They have 1,190,000 square feet of building space on 314 acres.
Encore Executes 17th Corporate Expansion in McKinney
McKinney’s largest taxpayer and one of our largest employers with over 900 employees) expanded once again this year. The $25 million dollar project will encompass 202,000 square feet and allow the company to begin manufacturing aluminum wire product.
This marks the 17th expansion that Encore Wire has completed in McKinney over the past 20 years. Encore Wire is publicly traded under the symbol WIRE on the NASDAQ stock exchange. Encore Wire Corporation is a leading manufacturer of a broad range of copper electrical building wire for interior wiring in commercial and industrial uildings, homes, apartments, and manufactured housing.
Wistron Green Tech
Fortune 500 Division Chooses McKinney
Our most recent announcement came in October with the addition of Wistron Green Tech to McKinney, purchasing the former Kone Elevator Building near Collin County Regional Airport off of Industrial Drive. Wistron Green Tech is a division of Wistron Corporation, a $22.4 billion Fortune 500 company based in Taiwan.
A result of the City’s initiatives in International Development, the project will bring a $21 million electronics recycling plant that will initially employ 80 – 100 people in phase one. They will occupy 209,000 square feet on 22 acres. Renovation work is underway with plans to occupy the building in January.