Frisco is growing. We know that. But just how much is it growing? The numbers are staggering.
The Frisco Economic Development Corporation (FEDC) announced another record year for job creation and capital investment, marking a significant milestone at the midpoint of its proactive five-year strategic plan.
The plan aims to attract and retain major employers while fostering a thriving innovation ecosystem.
Frisco’s Growth Broke Records In 2024
In 2024 alone, the FEDC spearheaded or supported 26 business projects and four real estate developments, showing growth year over year. The previously reported data shows that in 2022, Frisco saw only 14 business projects.
In 2024, FEDC initiatives resulted in:
- More than 4,000 new and retained jobs
- Over $1.5 billion in private capital investment
- More than 260,000 square feet leased
- 1.8 million square feet of new commercial space
Frisco also boasts one of the highest office leasing activities in the region. The city's Class A office vacancy rate is six percentage points lower than the regional average of 24%.
“Over the past three years, we added three million square feet of new commercial office space which is the about the same as one Empire State Building,” said FEDC President Jason Ford.
“As we enter year four of our five-year plan, we expect to maintain great momentum with more exciting projects ahead,” Ford said in an official statement. “Our focus remains on benefiting our citizens by keeping tax rates low while bringing in major projects to the city.”
How Frisco Keeps Attracting Business
Frisco’s appeal as a prime destination for business projects and expansion continues to grow. Over the past three years, Frisco saw the establishment and expansion of 70 companies, leading to the creation or retention of nearly 10,500 jobs and a 24% reduction in the labor shed.
“Attracting and retaining top companies is critical to the Frisco Economic Development Corporation’s mission of creating jobs," FEDC Vice President Gloria Salinas told Local Profile. "We take a proactive approach toward the growth and expansion of primary employers in our community through the development and implementation of programming. We want our corporations to get their roots established early and take advantage of all that the city has to offer. We help them form strategic partnerships to encourage business engagement by connecting them to resources — from educational partnerships to address talent needs to corporate innovation programming that helps companies scale and stay competitive.
According to Salinas, the emphasis is on bringing companies to Frisco that align with the city's talent pool and contribute to its dynamic ecosystem. These efforts have successfully attracted and retained businesses, reducing the labor shed and resulting in the creation or retention of over 10,000 jobs in the past three years.
Why Frisco’s Continued Growth Matters
Frisco has led the nation in housing expansion, more than tripling its inventory to surpass 85,000 units by 2023. During this period, it ranked first nationally in both multifamily and single-family home growth.
Census data reports that Collin County's population was 1,064,465 in 2020, growing to approximately 1,193,092 by 2023. As of 2024, the county’s population estimate has been revised upward to 1,209,295 — an increase of 40,900 residents from previous projections. Frisco alone saw a strong 10.2% growth rate, driving demand for more jobs to support its rapidly expanding community.
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