Frisco | September 2023

News

BY ALEX REECE

Frisco sees 1,001% spike in year-over-year economic growth

Music awards, downtown events and sports have made their mark on Frisco’s economy, May data gathered by Visit Frisco shows. “[Residents] may not see that dierence them- selves, but we know that through third-party research that it is having an impact on Frisco,” Visit Frisco Executive Director Marla Roe said. Visit Frisco is the marketing organization for the city. In May 2022, nearly 2,800 visitors brought an estimated $1.03 million to the Frisco economy. In May 2023, that number shot up by 1,001% to $11.34 million, the data shows. Roe said one factor behind the increase was the high-visibility events hosted in Frisco, such as the Academy of Country Music Awards and the 2023 KitchenAid Senior PGA Championship. “It’s just a huge win for everybody, and these events are just the beginning,” said Christal Howard, Frisco Chamber of Commerce interim co-president and CEO. The breakdown Residents might not notice the ripple eects of the inux to the economy until they do their taxes next year, Roe said. “Tourism in general saves homeowners $1,653 per year [in property taxes],” Roe said. Months such as May are also a good sign of new business opportunities in Frisco, Howard said. For example, the hotels, restaurants and events at the Professional Golfers’ Association of America’s North Frisco campus would not exist without the larger championship events, she said. “The bigger benet is long term,” Howard said. “All of those people now know about Frisco and may come back, whether that means moving here

Corey Kent performs onstage at the ACM Country Kicko at The Star ahead of the 58th Academy of Country Music Awards from Ford Center on May 9 in Frisco. The awards was one of several events that brought visitors to Frisco.

COURTESY ACADEMY OF COUNTRY MUSIC

or visiting again.” Dig deeper New businesses coming to the area mean jobs for future residents and workers, Howard said. “I think about it through the perspective of my daughter,” she said. “Whether it’s waiting tables at a restaurant or working at a golf course or Universal Studios coming in the future, I am excited for her to have more opportunities to work but work here near home, when she’s starting out as a teenager.”

What else? Local events also brought revenue during May, Howard said. Music on Main was able to bring North Texas musicians back to the Rail District starting in April after a two-year hiatus due to the pandemic. Another benet from May was in its year-over- year earned media value, which jumped from $1.28 million to $108.69 million, according to Visit Frisco. “We’re still going to reap the benets of this for some time to come,” Howard said.

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