Frisco Economic Development Corporation
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 and use tax dedicated to economic
development.
The Frisco Economic Development Corporation (FEDC) was
established and authorized by the Frisco City Council in November
1991 following a May 4, 1991 passage of a one-half of one-percent
sales tax dedicated to economic development by the citizens 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.
An Economic Development Plan is prepared by the Corporation and
presented annually to the City Council, which serves as a yearly
implementation plan of the Corporation. The plan is proactive in
nature and provides a mechanism to identify and pursue economic
development opportunities.