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In 1989, the Texas Legislature amended the Development Corporation Act of 1979 by adding Section 4A, which allowed the creation of development corporations that could be funded by the imposition of a local sales tax dedicated to economic development.
The Frisco Economic Development Corporation (FEDC) was established in 1991 following a passage of a one-half of one-percent sales tax dedicated to economic development by the residents of Frisco. The FEDC was also incorporated in 1991 as a not-for-profit; tax exempt Texas Corporation, which is a separate entity from any other Board or Commission of the City of Frisco.
A five member Board of Directors appointed by the City Council governs the FEDC. The FEDC meets in regular session monthly to conduct the business affairs of the Corporation. The FEDC employs a President to manage the day-to-day business activities.
The purpose of the FEDC is the promotion and development of new and expanded business enterprises to provide and encourage employment in Frisco. The FEDC is known for its progressive and unique incentive packages, rapid responsiveness and providing quality services to all. The many successes of the FEDC have generated thousands of new jobs for Frisco and facilitated an expansion of the tax base by over $1 billion for the last five years.
Frisco continues to be one of the fastest growing cities in Texas. Let us show you why our Location, Climate, Housing, Healthcare, Education and Lifestyle continue to attract almost 10,000 new residents each year.
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