In the endless rush of tech news in the Metroplex, the urban centers of Dallas and Fort Worth often overshadow the surrounding suburbs. However, the outlying cities in Collin County are no strangers to bringing in both new residents and businesses.
Credit report website WalletHub.com named Frisco as the fifth fastest growing city in the country. McKinney also made the list, coming in at No. 13. The report was based on sociodemographic information, such as population growth, job growth, unemployment rate and regional GDP per capita.
“Rapid city growth can yield both positive and negative effects. Some cities thrive as they expand while others struggle to keep up,” the report said.
Cities were ranked based on size. Overall, Frisco was the fifth fastest growing. However, when broken down by city size, Frisco ranked third of mid-sized cities. The city also ranked third among highest population growth and first in job growth. According to Frisco.com, T-Mobil, Oracle Corporation, Randstadt Technologies and Fiserv are some of the largest employers in the city, after the school district.
While McKinney made it to the top 15 overall, it did have some notable rankings. The city was ranked fourth in population growth, and third in overall job growth. McKinney counts Emerson Process Management, Raytheon Space and Airborne Systems and Torchmark as some of its largest employers.
Allen was also mentioned on the list. However, it was ranked third for lowest income growth. Plano was ranked No. 111 fastest growing overall. Eight of the top 15 cities with the largest population gains were in the South of the U.S.
“Experts might not agree on the ‘best’ or the ‘right’ recipe for rapid economic growth, but some cities know the key ingredients for long-term prosperity better than others,” the report said. “Patterns emerge within those cities, allowing us to identify what factors contribute to a lasting cycle of growth.”
Frisco has been on a number of fastest growing lists in recent years, including taking the top spot last year, based on U.S. Census data. The city has been growing in terms of tech also. With the growth in residents, the startup market in the city is expanding with things like Startup Grind Frisco, a boom in the e-sports industry (Frisco is home to the National Videogame Museum), a vertiport for Ubers flying taxi project, and the opening of a number of coworking spaces.
