Collin Leadership Policy Summit 2022: Economic Development: Statewide Policy and Regional Focus

Theres no doubt that the state of Texas is one of the most business-friendly states in the country. In the last three decades, the growth of the Dallas-Fort Worth area is the result of businesses looking to call our region home. The inaugural Collin College Policy Summit brought together a four-person panel of leaders to speak on state policies that address the economic development with a focus on our unique North Texas metroplex.

Economic development is defined in a thousand different ways, but for us, our role is to create that regional layer of support for companies, Mike Rosa, senior vice president of the Dallas Chamber said. We reach out to our network of cities, all around our region, to respond effectively and to make sure that DFW gets on that initial list and gets a visit by that [interested] company.

There are various opportunities for growth, and Rosa hopes to see the advancement of DFW continue with the collaboration of statewide policy, local small businesses, and thriving communities.

When a company is looking at the state of Texas, theyre constantly looking at their costs. Theyre looking at where it makes sense to do business, Larry McManus, director of business and community development for the office of the Texas Governor said. Were at a point where in order to compete at a state level, incentives are developed to help lower costs for companies. Because of our business-positive approach, we have a really good reputation. Nobody does economic development like our state.

Having supportive regional and state policies is only part of the equation for successful economic development. Rena Padachy, senior vice president of HALL Group, a Dallas-based developer, said recruiting and retaining companies in our region is just as important.

Looking at the future, if you want to attract the right employee, employers, I encourage you, dont think of your office space as you have before. That does not work anymore, Padachy said. Those companies that arent taking the time and effort to think through where theyre having their people come work, versus those that are taking the time and spending the dollars to do it, are having a lot easier of a time retaining those employees.

Dr. Alicia Makaye, president and CEO of GXA, a local IT services company, is one of the thousands of business owners who seeking the opportunities of an expanding region.

We have so many people who are starting businesses. Entrepreneurs are growing at a very fast pace, Dr. Makaye said. We have a lot of initiatives that are going well for the state of Texas that allow people to really start businesses from the ground up. I am part of that product, of being a business-friendly state.

The work between communities, businesses, and state leaders proves to be the winning partnership of economic development. Each panel member brought insight on how to continue supporting our local region within a growing state.

To view the video of this panel discussion, click here. For more information about the inaugural summit, visit www.collin.edu/policysummit/.