September 21, 2015
Executive Director John Miller
North Texas Enterprise Center (NTEC, Inc.)
6170 Research Road
Frisco, Texas 75033
Dear Mr. Miller:
It is my pleasure to submit the report for the estimated economic impact of NTEC on the area economy. In addition to the IMPLAN based generated estimate of NTEC’s economic impact, the report also includes a description of the model of the Entrepreneurial and Economic Development process and describes how a business incubator/accelerator, such as NTEC, meshes into the model to create a more vibrant and successful community.
Two impact scenarios were conducted – one region was defined as Collin County and another region included a five county impact including Collin, Dallas, Denton, Rockwall, and Tarrant counties. Regarding the Collin County scenario – NTEC’s direct employment of 213 jobs in six industry sectors translates, through the multiplier effect, into an estimated total of 495 jobs in Collin County. The total effect includes the direct, indirect, and induced effects which equates to $55 million in output (or Gross Regional Product) and an additional $38 million in output when considering the indirect and induced effects of those initial 213 jobs.
Just as important as the quantitative data in this report I had the opportunity to visit with some of the firms on two site visits at NTEC in the last year and a half and I have included some observations of those interactions with the residents of NTEC which as you will see positively correlates with the Heartland Center for Leadership Development’s “Clues to a Successful Community.”
Indeed when combining the IMPLAN based quantitative analysis with the qualitative part, such as the site visits, NTEC’s mission and outcomes positively supports the Frisco Economic Development Corporation’s goal of providing the conduit for an “innovation culture through entrepreneurship.” Please let me know if you have any questions regarding the report.
Sincerely,
Clay Randall
Collin College Economics Professor (2007-present)
Sam Roach Endowed Chair in Business and Engineering (AY2013-AY2015)
2800 East Spring Creek Parkway
Plano, Texas 75074
crandall@collin.edu
972.881.5835 office
972.955.4417 cell
NTEC is a member of the