Economy Component

A diverse economy creates a city that is resilient in times of change or economic stress. Plano’s current economy is comprised of a mixture of businesses that vary in size and industry sectors. To ensure the city has a wide range of future commercial activities, Plano will focus efforts to retain existing businesses and target outreach to innovative knowledge-based companies.

Downtown StripAerial Big CampusPlaza with Fountains

  1. Diverse & Resilient Economy
    Background: Business retention and expansion is a primary initiative of the City of Plano’s Economic Development Department. The city fosters relationships between businesses and community leaders to understand local needs and facilitate the growth and expansion of existing companies. The Plano Chamber of Commerce and Collin County Small Business Development Center also serve as a liaison to encourage the promotion and creation of business-friendly policies.

    Corporate headquarters and technology companies presently serve as the city’s primary focus for business attraction. The city seeks companies that provide highly-skilled job opportunities for residents and support local industry sectors. While retention of existing business is very important to the city’s success, Plano must anticipate the community’s changing needs by attracting new companies and industry sectors.

    Corporate campuses are still a desirable layout for many companies. The City of Plano has ample opportunities for relocation within one of the four major business parks. The Comprehensive Plan’s policies support the retention of vacant land for economic development and employment opportunities in identified areas throughout the city. There is also a shift towards compact offices and collaborative work spaces that allow smaller footprints in a highly concentrated built environment. Increased office development on smaller lots is encouraged through the recommended redevelopment of expressway corridors and placement of mixed-use centers at targeted locations throughout the city.

    In addition to available land for economic development, Plano’s high quality of life, including a variety of housing options, strong schools, and excellent parks and recreation facilities, attracts companies that are considering relocation. Comprehensive Plan policies support the enhancement of these assets to sustain a vibrant, growing community, allowing employees of all economic levels to enjoy living and working in Plano.