Economic Climate

Local Economic Climate

Economic Perspective
Richardson has maintained a AAA rating from Standard and Poor's for the past seven years, and 2014 was the fifth year in a row the City received a Aaa rating from Moody's. Moody's rating places Richardson among the top 6.6 percent of rated cities in the nation and 2.8 percent of rated cities in Texas to hold Aaa status. It has given only six other cities in Texas the same designation.
Standard and Poor's AAA rating places Richardson among the top 5.8 percent of rated statewide communities, and Richardson is one of only six communities in Texas to hold both a Aaa and AAA rating from both agencies.


Current and Future Developments

State Farm Insurance recently moved into a $1.5 billion mixed-use, transit-oriented development in Richardson near North Central Expressway and President George Bush Turnpike called CityLine. The new State Farm office serves as a large regional office with new and existing employees. When complete, CityLine will contain over 3 million square feet of build-to-suit office buildings, an integrated healthcare facility, 3,925 multi-family residential units, a movie theater, hotels, retail and restaurants. For more information click here.

RealPage, a leading provider of on-demand software and software-enabled services to the rental housing industry, recently leased a new 400,000-square-foot corporate headquarters facility in Richardson. RealPage is currently renovating its new campus and will begin moving its employees in from Carrollton in September 2016.

Insurance company Geico Insurance will relocate 1,600 employees to Richardson by the end of 2015. The company will occupy the former Fossil headquarters on Greenville Ave. Geico looked at multiple office locations in Richardson, Plano and Far North Dallas before picking an office in the Telecom Corridor.

Richardson stands out as a hub for cloud computing with recent data center additions from Stream Data Centers and Digital Realty, whose Datacenter Park occupies the former Collins/Rockwell/Alcatel campus.

Absorption of office, retail and residential space at mixed-use developments such as Eastside, Brick Row, AMLI Galatyn Park and The Shire.

The University of Texas at Dallas has broken ground on Northside, a new mixed-use development designed to include housing as well as retail businesses to be constructed on 13.2 acres north of UT Dallas. With approximately 370,000 square feet, Northside will offer 20,000 square feet of retail space and 600 beds through a mix of one-, two-, and three-bedroom apartments and 16 two- and three-bedroom townhomes.

For more information view the 2015 State of the City Address.

Regional Economic Climate

DFW Metroplex Texas Business Climate
The DFW region and the State of Texas are nationally recognized for their outstanding business climate, providing a lower cost and more robust business environment.
Key attributes of the DFW region:
  • Affordable real estate (both commercial and residential)
  • Well-qualified and plentiful workforce
  • Pro-business environment
  • Highly accessible transportation (freeways, tollways, air, rail)
  • Reliable, high-capacity utilities
  • Superb quality of life for people of all ages and ethnicities
  • Abundance of sports and recreational venues/events, music, arts and cultural amenities

Source: C2ER, Q3 2013 averages.

Cost of Doing Business* in Selected U.S. Cities
100 = U.S. Average

City Cost
New York 221.3
San Francisco 159.9
Boston 140.1
Portland 119.1
Chicago 117.4
Houston 99.0
Phoenix 97.3
Orlando 95.9
Dallas 95.7

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