Plano Economy – Plano, with a 2017 population of 275,645, is a prosperous place. In 2016, the City was named the 3rd ‘Best Place to Live in America,’ by Money Magazine. TOYOTA, J.C. Penney, Pizza Hut, Frito-Lay, LIBERTY MUTUAL and Rent-A-Center are just a small sampling of the companies that are all headquartered in Plano. Several technology giants have major R&D operations here including Ericsson, Intel Security, CA, Intuit and Nokia. These companies attract highly skilled workers from throughout the US and abroad.
Plano, unlike other affluent locations, is affordable. It has low taxes, housing prices and unemployment compared to most metros in the U.S. The Plano Independent School District is nationally regarded and provides an education comparable in quality to many top private schools.
In the early 1980’s, EDS founder Ross Perot sought a new home for his company. He purchased 2,700 acres in Plano and created Legacy business park. In 1985, EDS moved to Legacy. That same year, after discussions with EDS customer and potato chip mogul Herman Lay, Frito-Lay located its headquarters there. In 1987, JCPenney announced that it would move its corporate headquarters from New York to Plano. The announcement brought considerable national attention to Plano and signaled that Plano was a prime business location. The video map below represents a 32 year time-lapse of the growth in the Plano and Frisco area. Plano Economy
Plano has an unemployment rate of 3.5%. The US average is 5.2%.
Plano has seen the job market increase by 3.1% over the last year. Future job growth over the next ten years is predicted to be 42.7%, which is higher than the US average of 38.0%.
Tax Rates for Plano
– The Sales Tax Rate for Plano is 8.3%. The US average is 6.0%.
– The Income Tax Rate for Plano is 0.0%. The US average is 4.6%.
Income and Salaries for Plano
– The average income of a Plano resident is $41,902 a year. The US average is $28,555 a year.
– The Median household income of a Plano resident is $82,944 a year. The US average is $53,482 a year.|
– 40% of the Plan Residents earn over $100,000 annually
Educated Workforce – Plano Texas along with their neighboring cities, Richardson, Allen, Addison, Murphy, Parker and Hebron, have some of the most educated people in any metro area. 55% of the workforce in Plano has attained a Bachelors degree or better, 52% in Richardson, 53% in Allen, 54% in Addison, 56% in Murphy, 58% in Parker and 61% in Hebron, a bedroom community of Plano.
In comparison, the U.S. average of residents in the workforce who have attained a bachelors degree or better is 30% and the Dallas Fort Worth area comes in at 32%. Clearly one of the reasons so many companies have relocated to Plano, Cost of living, clean city, and highly educated workforce. Plano Economy
This workforce has a highly technical field of study. 26% have a business degree, 15% engineering, 9% mathematics/computers/statistics, 8% science related, and 8% education being the top positions within this demographic.
Call Ted at Plano Texas Handyman 214-507-3415 to discuss an estimate of essential home repairs. You can also visit our website at www.planotexashandyman.com for more information.