Business Retention & Expansion Program/McKinney Economic Development Corporation

Economic development in McKinney is governed by four principal stakeholders:  the City of McKinney, the McKinney Chamber of Commerce, the McKinney Economic Development Corporation (MEDC), and the McKinney Community Development Corporation (MCDC).  The city participates in all aspects of economic development, directly and indirectly.  The three other stakeholders play more focused roles.  The Chamber creates the environment where businesses can prosper, acting as their advocate in areas of public policy and practices. The Chamber, in partnership with the MEDC through the Business Retention and Expansion Program (BREP), focuses on business retention and expansion of McKinney’s existing businesses.  MEDC is largely responsible for business recruitment and expansion, while the MCDC is responsible for enhancing the quality of life in McKinney.  Each of these players has a significant role in McKinney’s economic development.

McKinney Economic Development Corporation

The McKinney Economic Development Corporation was formed in May 1993 following a January 1993 referendum by the voters of McKinney permitting the Corporation to receive funds from a half-cent sales tax collected for economic development.  MEDC began accumulating sales tax receipts effective July 1, 1993 and currently receives approximately $9.0 million annually.  These funds are used to support the economic growth of McKinney and give the Corporation flexibility to assist companies with infrastructure, training, and other items of key importance to the company and the community.

After 14 years of service to the citizens of McKinney, MEDC has assisted in the creation of over 13,000 new jobs, completed more than 70 expansion and relocation projects, and increased the regional economy by $3.6 billion.

MEDC mission:

“The MEDC will work to create an environment in which community-oriented businesses can thrive.  We will do this by identifying, coordinating, and realizing high-impact opportunities that promote job and wage growth as well as a diversified and expanding tax base.”