Toyota moves to Frisco, Texas
Toyota Factory in Frisco Texas will Change the Landscape
It’s no secret that various parts of Texas are growing, in fact, according to poll after poll, the state of Texas is one of the fastest growing regions in all of North America. A big reason for this is the number of companies opening offices in the state, or moving lock, stock, and barrel to this side of the country. And now the latest of this kind of news is a new Toyota factory in Frisco Texas. Frisco is a suburb of Dallas located near another suburb called Plano. Toyota is closing its doors at its Kentucky, New York, and California locations and moving it to the Frisco/Plano area.
However, around 70% of its employees will be moving with the company into the Frisco area. Even though this is considered to be a lot of employees to move with a company, Toyota will still need to hire around 1000 people from the immediate area. Needless to say, all of these numbers translate as a big economic impact for the region. Even though Toyota is not releasing salary info for the employees, median wages are in the high five figure range. The new campus will sit on 100 acres and it will be approximately 1 million square feet in size.
Frisco Texas Jobs are Increasing
Texas was named the “Great American job machine” by the American Enterprise Institute. And when you go to a place like Frisco it is easy to see why. Frisco made it to 31st place in a list of 122 towns in Texas to find a good job. Population growth is a good indicator of job growth. From 2000 to 2009, Frisco was the fastest growing small town in the US. Today the population stands at around 125,000. Even though it is not growing at break neck speed it is still one of the fastest growing areas in the US.
The town has steadily attracted many retailers. Ikea and Stonebriar Center opened in the mid-2000’s. Stonebriar Center is 165 store shopping mall. However, the biggest industry in Frisco is real estate. This is because a large percentage of people who come to work in Dallas and surrounding areas such as Plano will have their residence in Frisco. Now with the new Toyota plant opening in neighboring Plano, this trend is not only going to continue but increase. All of this economic activity is only going to increase Frisco Texas jobs.