Plano has been a prosperous city for decades. Following the production boom brought on by World War II, Plano has been home to some of the country’s biggest corporations, along with a wealth of lesser known, but still incredible, small businesses.
Plano businesses enjoy the benefits of a well-educated workforce, world-class real estate, and an outstanding transportation infrastructure. While offering the perfect environment for business growth, Plano additionally provides residents with fantastic recreation, cultural, and entertainment venues.
Each and every day more businesses are beginning to discover what we Plano residents have known for so long: Plano is the place to start a business. There are more reasons to choose Plano than we could possibly list, but we’ve narrowed it down to the top 7 reasons below.
1) Everyone’s Doing It
During the 1980s, many large corporations migrated their headquarters to Plano and helped to establish the city as an affluent hub for corporate headquarters. The city is currently home to the headquarters of JCPenney, Frito-Lay, Pizza Hut, FedEx Office, Dr Pepper Snapple Group, and more. Plano continues to receive an influx of big business names from across the globe.
Toyota announced two years ago that the auto manufacturer would move the company headquarters to Plano along with 4,000 employees. The new headquarters may still be under construction, but 500 of the company’s employees have already made the move. Inspired by Toyota, one of the fastest growing IT companies in California, Orange People, has decided to move to Plano as well. Additionally, JPMorgan Chase and Fannie Mae have both unveiled plans to build new complexes in Plano.
Last month, global banking software company, Mysis, celebrated the grand opening of its new office space and the list of migrating companies goes on. With so many companies successfully integrating into the Plano community, your business could be the next to join the ranks.
2) The Startup Community Is Strong
Plano may be a well-known hub for big corporations, but the city is home to businesses of all sizes. When considering strong startup communities, Silicon Valley and New York are often two of the biggest cities to come to mind. However, Plano is a city with a growing startup community and a well-established startup culture.
The city’s entrepreneurial ecosystem has been exponentially growing for some time now, with entrepreneurs, investors, and economic development officers all pouring into the city. Notable startups include Ilumini (the smart lighting startup backed by Mark Cuban), Choose Energy, VizSense, VaultMR, and OnSeason. The combination of low-cost living, no income tax, and a large educated workforce has made Plano an irresistible location for startup founders.
3) The City Is Business Friendly
In a recent study conducted by Thumbtack and the Ewing Marion Foundation, business owners found Texan cities to be some of the most business-friendly cities in the country. Business owners cited lower operation costs, lower taxes, and accessible local governments as the basis for their favorable ratings. Indeed, Texas is very attractive with no corporate income tax, no individual income tax, and low business regulation.
Local Plano officials are easily accessible through the city’s website and there are several local organizations in the area that offer small business support. The North Texas Association of Small Business Development Centers and the U.S. Small Business Association both offer support and resources to help small businesses get off the ground and succeed.
Not to mention, there are a number of conferences and networking events that occur each year. Startup Weekend is a great conference for Plano entrepreneurs looking to learn and network. Having a support network to depend on only makes starting a business that much easier.
4) The Local Economy Is Booming
Nothing is more vital to the growth of a business than the state of the economic environment the business is surrounded by. Plano’s economy has witnessed continued growth for the past several years.
The current income per capita is a healthy $40,869 and the median household income is $83,193. Approximately 41.51%, or almost half of Plano households, earn $100,000 or more per year. Real estate is relatively cheap compared to the city’s wages. Plano has consistently been ranked one of the most affordable cities in the U.S. The current sales tax rate is 8.25% and income tax is non-existent.
The unemployment rate in Plano is a record low 4.3% with a recent job growth rate of 3.43%. Over the next 10 years, employment growth is predicted to be 42.6%. It’s a great time to be a Plano resident and it’s an equally great time to start a business in Plano.
5) Great Restaurants Are Plentiful
Nothing enhances a business meeting quite like good food, and when it comes to finding an establishment to host a meeting at, there’s no shortage of excellent restaurants.
Plano will soon join the Neapolitan-style pizza trend with the opening of Dough Pizzeria in the coming months. Jasper’s adds a modern twist to home-style American barbecue dishes. The Bavarian Grill has consistently been rated the best German cuisine in all of Texas and Zorba’s Greek Cafe is well-renowned as the go-to eatery for authentic Greek food. Saigon Street offers Plano a taste of the best Vietnamese dishes in a comfortable dining atmosphere. Mexican Sugar Cocina y Cantina redefines Mexican cuisine with local ingredients and handmade dishes crafted atop a live wood grill. Whiskey Cake offers traditional farm-to-kitchen southern-style comfort foods in generous portions that you can enjoy from the comfort of one of their rocking chairs.
If seafood is your meal of choice, you can get your hands messy with the best cajun seafood restaurant in Plano. The Boiling Pots provides mouthwatering good seafood boiled to perfection.
Are you hungry yet? No matter the occasion, good food is plentiful in Plano.
6) The Stress Level Is Low
The daily stresses of life can seem innumerable and inescapable at times, but stress is one of the smaller concerns for Plano residents. A recent study from WalletHub ranked Plano in the top 10 of least stressed cities in America.
Plano residents enjoy a great work-life balance on average, along with affordable housing, and a low unemployment rate. Consequently, Plano boasts one of the lowest divorce rates in the country.
Starting a business can be an extremely stressful process. Being surrounded by a stress-free community may help to reduce some of the anxiety that comes with running a business.
7) There’s Never A Dull Moment
There’s little incentive to work hard if you can’t also play hard. Plano offers a wide variety of things to do and see. There are events all year around so rest assured, there will always be something to do.
The ArtCentre of Plano gives visitors an opportunity to browse through galleries of both local and national artists. The Arbor Hills Nature Preserve holds 200 acres of vast, beautiful Texas landscape to hike, walk, or jog through. The premier golf courses at Watters Creek offer 18 holes of magnificent golf and for the adventure seekers Go Ape may provide the thrills you seek. Go Ape is a treetop obstacle course with platforms up to 40 feet off the ground and over 425 feet of zipline.
The city also hosts exciting events throughout the year. Enjoy a refreshing glass of wine while enjoying live music and a curated art exhibit at the Art & Wine Walk. Live trivia nights are always a blast and movies in the park are fun to take the whole family out to. The Shops at Legacy have a store for almost anything you are looking for. Whatever your idea of a good time may be, there’s something for you in Plano.