Economic Development & Entrepreneurship
Economic Development & Entrepreneurship structures, engages and empowers businesses in communities, from entrepreneurs with an idea to Fortune 100 corporations. Ensuring that all of the elements are present and working in lock-step - education & workforce, ease of business climate, city policies, access to resources, ‘quality of place’ and more create a special sauce that starts, builds, and grows economies for the long-term. Some of our members have established Innovation Districts, others Innovation Funds to grow clusters, R&D centers and permitting & zoning changes. Learn about just some of what’s being done around the region.
Dallas - Smart Cities Living Lab: The Dallas Innovation Alliance (DIA) created and implemented its Smart Cities Living Lab in the West End of Downtown Dallas, as part of the burgeoning Dallas Innovation District. The Living Lab was the fastest-to-market smart cities initiative in the country and comprises 10 projects in a six block corridor encompassing five core use cases: resource efficiency, economic revitalization, public health, mobility, citizen engagement and public safety.
Richardson - The IQ: The Richardson Innovation Quarter, also known as simply “Richardson IQ®” or “The IQ®,” is a living laboratory for big ideas and ground-breaking technology. It’s an amenity-rich environment where entrepreneurs take risks and are supported by the Richardson community; where start-ups and scale-ups can collaborate and thrive; and where nearby college graduates come to live, work and invent. The City of Richardson and the University of Texas at Dallas partnered to form a powerful, on-site partnership in a new Headquarters for the Richardson Innovation Quarter. This new, innovative space will support Richardson’s startup and entrepreneur community and advance UT Dallas research.
McKinney EDC - Innovation Fund: Launched mid-pandemic, the McKinney Economic Development Corporation Innovation Fund's mission is to spur and accelerate the growth of innovation-focused companies at various levels of revenue and funding stages during the startup lifecycle. It’s designed to grow with the company as it scales, supplementing growth during the timeliest need in the startup lifecycle. It is focused on eligibility factors including incentives for new job creation, business relocation and expansion, innovation research and skills development. In 2020, more than 300 jobs were created at an average salary of $86,000.00.
Dallas Regional Chamber: The Tomorrow Fund provides the DRC with the necessary resources to drive economic development, improve education, and attract talent. It also supports our public policy advocacy efforts in Austin and Washington, D.C. on critical business priorities — including infrastructure, transportation, and water issues — to strategically manage our region’s growth.
NTXIA: Data-Driven Retail Insights to Guide Recovery Through the NTXIA’s partnership with Mastercard CityPossible, members were able to utilize and compare retail insight spend data, and leverage access to CityPossible’s international network of peers, our local governments together approached recovery from the economic toll of the pandemic. By leveraging current and historical spending data at a hyper-local level, several of our members have gained directional data-driven insight into how to focus recovery dollars most effectively for small businesses.
Dallas, TX - The Dallas International District, a 450-acre district in the Valley View-Galleria Special Purpose District, anchored by an iconic 20-acre proposed park, will be a vibrant, multicultural live-work-play community that celebrates, encourages and inspires the diverse people and businesses of North Texas. The Dallas International District provides a once-in-a-generation opportunity to unite and amplify perspectives, voices and investments of our region’s fast-growing global community. As an engine for economic growth and a diverse cultural destination, the International District will solidify Dallas’ global leadership. A thriving multicultural and eco-friendly live-work-play community in the heart of North Texas will make the International District the place where Dallas and the world connect. The district will provide international businesses and retailers of all sizes a unique place to call home, and will be energized with arts and entertainment, including one-of-a-kind international festivals and community gatherings.
Frisco, TX - This is the first time ever that drone delivery will be available in a major US metropolitan area. The residents of Frisco and Little Elm will be among the first people in the US, after Christiansburg, VA, to experience drone delivery. Wing has teamed up with Hillwood to prepare a separate drone delivery facility within Frisco Station, an urban, mixed-used development located in Frisco. Hillwood has a long track record supporting forward-thinking, innovative transportation initiatives across the region, most notably at its AllianceTexas development and its designated Mobility Innovation Zone.The plan is to deploy a facility at Frisco Station that has all the usual delivery capabilities, but will be dedicated to exploring new use cases, community demonstrations, school field trips and public tours.