Texas Economic Development
Richardson – Economy & Development
Despite declining economies in other parts of the US, from 2005 through 2009, Richardson has had substantial increases in its economy. Sales tax collection went up from $21 million in 2005 to an estimated $24.7 million in 2008. The city’s total assessed property value went up from $8.3 billion in 2005 to $9.5 billion 2008. The city has also achieved a considerable amount of corporate recruitment and retention.
In 2008 Standard & Poor’s upgraded Richardson’s credit rating to “AAA” from the previous rating of “AA+”. Richardson is one of only four cities in the state of Texas and one of 88 cities in the nation with an “AAA” rating from Standard & Poor’s. Richardson is the metropolitan statistical area’s second largest employment center with daytime population increasing to more than 140,000 making Commercial Real Estate highly desirable in the City. The economy remains rooted in the telecommunications industry. The tax base is very diverse with the 10 leading taxpayers accounting for 10 percent of total assessed value. Richardson’s property tax base is deep and extends beyond its Telecom Corridor area with other sectors including health care, technology, and finance. The City’s per capita sales are 200 percent of the national average as well as the second highest sales tax per capita in the DFW Metroplex.
Richardson is partly located in Collin County, but most of it is situated in Dallas County, and has won many economic awards including DBJ’s 2006 “Best Real Estate Deal of the Year”, making Richardson Real Estate very desirable, International Economic Development Council’s 2006 “Technology-Based Economic Development Award”, and Texas Economic Development Council’s 2007 “Texas Economic Excellence Award”. As the City developed, the Richardson Home market became popular as the City provided several schools, several entertaining venues like skating, hiking, swimming, and also provided for all the basic needs required by the Residents. There are several parks and picnic areas that are enjoyed by people of all ages and people love to live here. Richardson is beautiful, clean and the demand for buying homes in that area has become extremely popular.
We can view the Richardson Neighborhood Profile, view photos and videos of the homes, find out the number of bed rooms, bath rooms and the basic amenities of the homes and neighborhoods from website like VIP Realty Platinum! The dream home you desire is out there and is different for every individual.
About the Author
Harry Ridge, the Broker of VIP Realty Platinum, has more than 23 years in the industry and has the knowledge and experience to lead his Real Estate Team in any market environment. Serving Plano and the DFW areas.
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