TIP Strategies is a privately held Austin-based economic development consulting firm committed to providing quality solutions for public and private‑sector clients.
This blog is dedicated to exploring new data and trends in economic development.
By: Darcy Schroer via TIP Strategies Inc.
FOR IMMEDIATE RELEASE
TIP Strategies’ analysis of the Frisco-area labor market confirms the city’s advantages with regard to its talent base. Area employers have access to a highly educated workforce of nearly one-half million within a 10-mile radius, including more than twice the national average for key information technology occupations. Access the Frisco Labor Market Profile Executive Summary here [PDF].
AUSTIN, TEXAS, May 21, 2014 – Frisco has an estimated workforce of nearly 500,000 people within a 10-mile supply area. Frisco and the region area are also home to a high concentration of information technology workers, with more than twice the expected number of software developers, computer programmers, systems analysts, and web developers. That’s according to Austin-based TIP Strategies Inc. The consulting firm recently completed a comprehensive analysis of the labor market for Frisco, Texas, a fast-growing community located 25 minutes north of Dallas. The analysis provides a detailed look at the characteristics of the regional workforce and shows the area’s occupational strengths are well-aligned with the industries Frisco targets for recruitment like telecommunications, software development and financial and medical services.
Conducted on behalf of the Frisco Economic Development Corporation (FEDC), the study highlights the region’s advantage with regard to labor, a key criteria in corporate investment decisions. Findings from the labor study point to both labor availability and quality.
In terms of quality, data from the American Community Survey (ACS) suggests the regional workforce is highly educated. According to the ACS, more than one-half of Frisco’s adult population (58.3 percent) holds a bachelor’s degree or higher, a figure well-above the national average of 28.5 percent. In addition, Frisco’s workforce received high marks from local employers surveyed as part of the study, with 80 percent of those respondents rating the workforce as either “good” or “excellent” with regard to computer skills, trainability, and employee attitudes.
James L. Gandy, president of the Frisco Economic Development Corporation, recognizes the steady stream of talented workforce moving to the Frisco-area has placed the city in an excellent competitive position. “We know skilled workforce is a top concern for employers,” said Gandy. “The data in this labor market study demonstrates Frisco has the talent to support our existing businesses and the new companies we attract.”
The labor force analysis includes data about the flow of workers into and out of Frisco. 2011 U.S. Census Bureau numbers reveal nearly 80 percent of Frisco jobs are filled by employees who live in other cities.
“The FEDC recognizes there is a great opportunity to better connect the skilled workers who live in Frisco with companies offering quality jobs in Frisco,” said Gandy. “We are now exploring and evaluating options for a program to help Frisco professionals find Frisco corporate jobs. Our desire is to increase awareness about job opportunities within our borders for residents who would prefer to work closer to home with a shorter commute allowing more time to enjoy family, friends and community involvement.”
“We are extremely pleased to have the opportunity to work with the Frisco Economic Development Corporation,” said Tom Stellman, TIP’s founder and CEO. “The city has a lot of things going for it from an economic development perspective and is in an enviable position to attract and retain companies, and the FEDC has a clearly demonstrated ability to attract and retain employment opportunities for Frisco residents.” In the past five years the FEDC has facilitated projects with the potential of creating or retaining nearly 12,500 jobs in the city.
Stellman points to Frisco’s location in the dynamic Dallas-Fort Worth metropolitan area, its network of highways and roads that provide fast access to DFW International Airport, Dallas Love Field and many other North Texas cities, and variety of commercial office and retail developments as advantages for employers in addition to its highly-skilled workforce.
About TIP Strategies, Inc.
TIP Strategies, Inc. is a privately held Austin-based economic development consulting firm committed to providing quality solutions for public and private-sector clients. Established in 1995, the firm’s primary focus is economic development strategic planning. The firm offers innovative, practical economic development and workforce development strategies that deliver results. Over the last five years, TIP has served increasingly higher profile clients around the nation and has prepared talent-driven strategies for a number of major metropolitan areas, including Las Vegas, Phoenix, and Houston. The firm has also expanded its workforce-related services in support of its Talent-Innovation-and-Place framework.
Contact: Tom Stellman
Phone: (512) 343-9190
Facebook: TIP Strategies: Economic and Workforce Consultants
About the FEDC
The Frisco Economic Development Corporation (FEDC) was created in 1991, when Frisco voters approved a half-cent sales tax to fund economic development in the city. The FEDC operates as a Texas non-profit corporation and is governed by a seven-member board of directors appointed by the Frisco City Council. Job number one is creating jobs, as the FEDC’s mission is to improve the economic opportunities and quality of life for all Frisco residents. Since its establishment, the FEDC has facilitated every major economic development project in the city of Frisco, resulting in more than 300 projects that have the potential to occupy over 24 million square feet of commercial space, generate new capital investment in excess of $3.8 billion, and create or retain more than 34,800 potential direct jobs in the city of Frisco.
A 2013 benchmarking survey by Atlas Magazine recognized the FEDC as the “Highest Performing Economic Development Organization” in the world among populations 100,001 to 250,000, based on the deals done in 2012. This achievement highlights the FEDC’s commitment to seek out and foster new economic opportunities for one of the fastest-growing cities in the United States.
Media Contact: Darcy Schroer
Phone: (972) 292-5155
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