[00:00:01]
LIKE, THIS IS JUST A NO BRAINER. THIS IS GOING TO BE IT. WE'RE GOING TO GET. SO CALL THIS
[CALL JOINT MEETING TO ORDER]
MEETING TO ORDER. IT IS 4:01 P.M. AND IT'S TUESDAY, OCTOBER 28TH, 2025. THERE IS A QUORUM OF COUNCIL. MR. CHAIRMAN, WILL YOU CALL YOUR BODY INTO SESSION? YES, SIR. THANK GOODNESS. YES, I'LL CALL AS WELL. THE MCKINNEY ECONOMIC DEVELOPMENT CORPORATION BOARD TO ORDER THOSE SAME TIME, SAME PLACE. AND WE ARE HERE. WE HAVE A QUORUM AND WE'RE READY TO GO.[MEDC Update]
THANK YOU. OUR FIRST ITEM ARE THE ONLY ITEM IS TWO FIVE, 332 6 A.M. A DC UPDATE. MR. KOSKI, YOU HAVE THE FLOOR. YEAH. THANK YOU, MR. MAYOR. IT'S ALWAYS A PLEASURE TO COME HERE AND TALK ABOUT THE GREAT THINGS THAT THE MEDC IS DOING FOR THE CITY AND THE REGION. I WOULD SUBMIT I WOULD LIKE TO STEP THROUGH A FEW SLIDES HERE AND TELL THE STORY OF WHAT WE'VE DONE FOR THE PAST 12 OR 18 MONTHS THE SPOTLIGHT, THE SYNERGY I THINK WE'RE SEEING BETWEEN CITY COUNCIL'S DIRECTION, WHAT WE'RE DELIVERING, AND SOME COOL THINGS THAT ARE REALLY NEW TO MANY PEOPLE HERE. SO I'M GOING TO KICK IT OFF HERE. ALL RIGHT. THEN. VERY GOOD. THIS IS THE FIRST SLIDE I SHOW WHEREVER I'M AT, BE IT IN THE REGION, BE IT AROUND THE WORLD. IT'S OUR VISION STATEMENT. AS A CITY THAT WE BUILD RELATIONSHIPS, IT'S VERY, VERY IMPORTANT. I WILL TELL YOU THAT MANY PEOPLE REALLY ARE DRAWN TO THIS, THIS SLIDE, AND IT REALLY SPEAKS TO THEM AND WHAT WE'RE TRYING TO DO. THIS IS MY NEXT FAVORITE SLIDE. THIS IS A NEW SLIDE.WHO'S SEEN THIS ONE YET. THIS IS A FASCINATING EXHIBIT. THE BLUE AREA IS DFW IN GENERAL.
MORE PEOPLE LIVE IN THAT BLUE. ODD SHAPED BOX THAN LIVE IN THOSE INDIVIDUAL STATES. WOW.
THINK ABOUT THAT. ABOUT 8.3 MILLION PEOPLE LIVE IN THAT BLUE AREA. THAT'S MORE THAN THE POPULATION OF THOSE INDIVIDUAL STATES NOT COMBINED ALTOGETHER, BUT INDIVIDUALLY. THAT'S PRETTY IMPACTFUL, PRETTY POWERFUL. AND WE PLAY A HUGE ROLE IN THAT, IN THAT SUCCESS OF WHAT'S HAPPENING IN THAT REGION, THIS REGION. WE WERE NAMED THE BEST REAL ESTATE MARKET IN THE US, MOST AFFORDABLE CITY, BEST CITY FOR RENTERS AND FARMER'S MARKET AND SAFEST CITY, AND SO ON AND SO FORTH. IT'S PRETTY SPECIAL WHAT WE'RE DOING TOGETHER AND HOW WE DO IT HERE IN MEDC WORLD IS WE HAVE A STRATEGY. THE PILLARS WE CALL THEM AGILE, ATTRACT, GROW, INNOVATE, LEAD AND ENGAGE. AND WHAT THAT MEANS TO US IS THIS I'LL WALK THROUGH EACH OF THOSE. SO ATTRACTION IS REALLY TARGETING THE HIGH IMPACT INDUSTRIES, LEVERAGING OUR QUALITY OF PLACE THAT WE HAVE AND BEING STRATEGIC WITH OUR LAND USE. THESE ARE PILLARS AND UNDERPINNINGS THAT WERE ADOPTED BY THE MDC BOARD LAST YEAR TO INSPIRE US. AND ONE EXAMPLE, OF COURSE, IS THE VENUE, AMPHITHEATER. AND HERE'S FOUR MORE PROJECTS THAT CAME UP IN THE PAST 12 MONTHS. I THINK WE FORGET SOMETIMES THE AMAZING WORK THAT WE'RE PUTTING ON THE GROUND, CANNON BEACH, THAT WILL START CONSTRUCTION SOON. RENIN IS A BATTERY MANUFACTURER HERE IN THE AREA. RELOCATED TO MCKINNEY, THE J.W. MARRIOTT AND OF COURSE, THAT'S IN OUR BUILDING AT 121, IN DISTRICT 121. IT'S A CORPORATE RELOCATION THAT CAME ABOUT, AND THIS IS A BIG ONE FOR US. THIS WAS A RELOCATION TO MCKINNEY MAVERICK POWER. THEY'RE THE FASTEST GROWING COMPANY IN TEXAS TODAY AND THE 16TH FASTEST GROWING COMPANY IN THE ENTIRE UNITED STATES. THAT'S IN MCKINNEY, TEXAS. WHAT THEY DO IS THEY WORK WITH THE INFRASTRUCTURE FOR DATA CENTERS AND HELP CREATE THE WIDGETS THAT MAKE IT ALL COME TOGETHER. AND THAT'S BEING DONE RIGHT HERE IN MCKINNEY. THEY GREW 600% IN THE PAST THREE YEARS. AND FOR ATTRACTION, WE ARE BLESSED. THE MEDC HAS CONTROL OVER SOME GREAT PIECES OF PROPERTY TO INSPIRE MORE DEVELOPMENT IN OUR GREAT CITY. FIRST AND FOREMOST. DISTRICT 121 ABOUT NINE ACRES. MEDC OWNS THAT PROPERTY AND WE'RE LOOKING FOR CORPORATE PARTNERS TO LAND THERE AT LAKE FOREST. WE'RE LOOKING FOR A FUTURE MIXED USE DEVELOPMENT THAT'S OVER 40 ACRES OF LAND. THE SHERATON HOTEL. BELIEVE YOU ME, THE INTEREST IN THAT LAND HAS BEEN VERY POWERFUL. NOW THE AMPHITHEATER IS COMING ALONG AND WE HAVE TWO MORE TO SHOW YOU. THE FIRST ONE, NEXT ONE IS CITY HALL. WE ARE HONORED THAT THE CITY COUNCIL HAS POINTED TO MDC TO SEEK OUR ASSISTANCE AND HELP WITH THE CITY HALL, FORMER CITY HALL PROPERTY. SEE WHAT WE CAN DO TO INSPIRE SOME ACTIVITY AS SOON AS POSSIBLE. AND OF COURSE, THE LAND EAST OF THE AIRPORT, 183 ACRES THAT WILL BE LOCATED EAST AND ADJACENT TO THE FUTURE TERMINAL. AGAIN, FANTASTIC OPPORTUNITY SITES ACROSS THE ENTIRE COMMUNITY. BUT ONCE WE GET SOMEBODY IN OUR CITY, WE DO NOT STOP THERE. WE PROVIDE WHITE GLOVE SERVICE THE ENTIRE WAY THROUGH TO INCLUDE HOW THEY OPERATE AND GROW.
THANK YOU. IN THIS COMMUNITY. SO DIRECTOR MADISON CLARK LEADS THIS TEAM AND BUSINESS
[00:05:05]
RETENTION, EXPANSION. ITS WORKFORCE DEVELOPMENT IS DIVERSIFYING MCKINNEY'S TAX BASE OVERALL, AND THIS IS A BIG WIN. THIS IS ONE OF THE MOST IMPORTANT SLIDES YOU'LL SEE TODAY THAT GLOBE LIFE CHOSE TO REMAIN HERE IN MCKINNEY. IF YOU THINK OTHER CITIES WERE NOT COURTING THEM TO COME TO THEIR PLACE, YOU'RE WRONG. YOU KNOW, THEY WERE A BIG, BIG PLAYER IN DFW FOR A LONG TIME, AND WE WANT TO MAKE SURE THEY'RE CONTINUING TO BE THAT HERE.THEY'RE NUMBER 595 IN THE FORTUNE 1000 TODAY. AND THEY CHOSE TO MOVE TO 2000 EMPLOYEES WITHIN THE MCKINNEY BOUNDARIES. SO A BIG WIN FOR ALL OF US. AND THEN ANCHOR WIRE, $500 MILLION INVESTMENT. PRYSMIAN PURCHASED ANCHOR WIRE. THEY'RE AN INTERNATIONAL COMPANY, AND THEY CAN PARK THEIR DOLLARS ANYWHERE IN THE WORLD. THEY CHOSE TO PARK THOSE DOLLARS HERE IN MCKINNEY TO CONTINUE GROWING DEEPER ROOTS. IF PRYSMIAN WAS A US COMPANY, THEY WOULD BE A FORTUNE. PROBABLY 767 69 OVERALL. GIVE YOU A SENSE OF THE SIZE AND SCALE OF THAT GROUP. AND OF COURSE, OUR AIRPORT MEDC IS REALLY PASSIONATE ABOUT WHAT THE AIRPORT CAN DO FOR ECONOMIC DEVELOPMENT HERE IN OUR CITY, AND WE ARE A CONTRIBUTOR TO THE INFRASTRUCTURE OF THAT AIRPORT, AND WE ARE SO EXCITED TO HELP THAT TAKE OFF. YOU KNOW, WHEN WE TALK TO OUR PARTNERS AT PLANO AND FRISCO AND ALLEN, BELIEVE YOU ME, THEY SELL OUR AIRPORT WITH THE SAME VIGOR AND SAME PASSION. WE SELL IT BECAUSE THEY KNOW IT OPENS UP THE FLOODGATES TO GREAT CORPORATE PARTNERS HERE IN DFW. WORKFORCE DEVELOPMENT. THIS SLIDE IS ALL JUMBLED, BUT I WILL. THAT'S INTERESTING. WELL, WHAT I DO IS I LIKE TO MIX IT UP HERE. THAT'S IT, THAT'S IT. SO WE HAVE A GREAT PLAN CALLED GROW. WE'RE GOING TO GROW OUR WORKFORCE. AND THAT'S SOMETHING THAT THE TEAM IS WORKING ON. THIS IS AN ARTICLE THAT CAME OUT YESTERDAY IN COMMUNITY IMPACT. I ENCOURAGE YOU TO READ IT. DIRECTOR MADISON CLARK IS IN THAT IS INTERVIEWED IN THAT ARTICLE TALKING ABOUT OUR OUR LASER FOCUS ON WORKFORCE DEVELOPMENT AND UPSKILLING. SO LET ME RECAP WHAT I WALKED THROUGH IN THE PAST FEW MINUTES HERE. I GAVE NINE SAMPLE PROJECTS, NOT ALL OF THE PROJECTS WE'VE EXECUTED IN MCKINNEY, BUT NINE SAMPLE PROJECTS THAT WE'VE TOUCHED. THAT'S $1.5 BILLION IN CAPITAL INVESTMENT AND 3000 NEW JOBS. IT GETS MORE INTERESTING. THIS IS WHAT'S HAPPENING RIGHT NOW IN OUR PIPELINE. WE HAVE 45 PROJECTS WITH ANOTHER $1.3 BILLION OF INVESTMENT POTENTIAL AND 5000 JOBS. AND THE REAL PUNCHLINE HERE IS WE HAVE 250 ACRES OF LAND THAT WE CONTROL TO ACTIVATE EVEN MORE DEVELOPMENT. WE RECENTLY ONBOARDED AN ANALYST, AND IT'S REALLY CHANGED THE WAY WE VIEW WHAT WE'RE DOING, HOW WE'RE DOING IT. SO ERIC RODRIGUEZ HAS BEEN WITH US NOW FOR ABOUT SEVEN MONTHS. HE'S GONE THROUGH 30 YEARS OF OUR DATA, AND HE'S REALLY HELPING US UNDERSTAND WHERE WE ARE, WHERE WE NEED TO GO AND SO ON, HELPING US MAKE BETTER DECISIONS. THIS IS ONE EXAMPLE. I HAVE A FEW MORE PEPPERED THROUGHOUT MY PRESENTATION. WE LOOKED AT WHEN PEOPLE APPLY FOR AN INCENTIVE TO US. WHAT IS THE AVERAGE WAGE THEY PUT DOWN ON THE APPLICATION FOR THEIR CORPORATION? AND YOU'LL SEE IN 2020, THE MEDIAN ACTUALLY WAS ABOUT 75,000. NOW IT'S UP TO $109,000. SO A COUPLE OF THINGS ARE HAPPENING. I SUBMIT THERE'S AN EXTERNAL INFLUENCES THAT ARE INCREASING WAGES. I GET THAT, BUT $109,000 IS THE AVERAGE WAGE PUT IN APPLICATIONS COMING TO US. THAT TELLS ME THAT WE'RE ATTRACTING HIGH. HIGH QUALITY BUSINESSES TO MCKINNEY OVERALL. SO THAT'S ONE DATA POINT THAT WE'RE TRACKING. I'D LIKE TO SWITCH OVER TO INNOVATION. AS YOU KNOW, INNOVATION FOR US IS NOT JUST A TAGLINE. IT'S SOMETHING WE LIVE AND BREATHE EVERY DAY IN OUR ORGANIZATION.
THIS IS ACTUALLY A SIGNING DAY. SO WHAT WE DO NOW, WHEN WE SIGN A SMALL COMPANY IN OUR INNOVATION FUND, WE DO A PROPER SIGNING DAY, AND THE TEAM IS TRYING TO CONVINCE ME TO HAVE DIFFERENT CITIES HATS ON THERE AND HAVE THEM PICK MCKINNEY HAT. I THINK THAT'S TOO ON THE NOSE.
BUT BASICALLY, YOU KNOW, WE CELEBRATE THAT. WE DO HAVE SOME CO-WORKING SPACES. WE NEED MORE AND WE HAVE PLUG AND PLAY WORKING WITH US. LET ME TELL YOU WHAT THAT LOOKS LIKE. WE HAVE AN INNOVATION FUND. IT'S THE ONLY FUND THAT WE KNOW OF LIKE ITS KIND IN THE COUNTRY.
WE SUPPORT STARTUPS DIRECTLY. WE PROVIDE BETWEEN 50,000 AND $200,000 OF EQUITY OR CAPITAL INTO THE COMPANY AND ASK FOR ZERO EQUITY IN RETURN. JUST LOCATE YOUR BUSINESS HERE IN MCKINNEY, TEXAS FOR THREE YEARS. OUR THESIS IS THAT ONCE YOU PLANT A SMALL ROOT HERE, YOU WON'T WANT TO LEAVE BECAUSE THE ECOSYSTEM IS SO FERTILE THAT YOU KNOW YOU'LL GROW AND GROW AND GROW, AND IT'S WORKING FOR US. AND YOU'LL SEE IN THIS SLIDE YOU CAN RAMP UP TO $500,000 IF YOU GET MORE TIME WITH US AND MORE EMPLOYEES AND SO ON. HERE'S WHAT THAT LOOKS LIKE. WE HAVE 49 STARTUPS THAT WE'VE FUNDED. WE JUST APPROVED TWO MORE. SO 51 EVALUATION OF ALMOST HALF $1 BILLION, 1000 PROJECTED JOBS. AND OF COURSE, YOU SEE THE AVERAGE WAGES. THIS IS SOMETHING MANY CITIES ARE TRYING TO COPY FROM US. I CAN TELL YOU FIRSTHAND, OTHER
[00:10:04]
CITIES CALL US SAYING, CAN WE GET A COPY OF YOUR PROGRAM? WE'RE TRYING TO INCORPORATE IT.YOU CAN SEE THE IMPACT, HOW IMPORTANT IT IS. AND WHEN WE PITCH THE CORPORATIONS AND WE TALK ABOUT THE MCKINNEY STORY, QUALITY OF LIFE AND SO ON, WHAT COMES UP IS THIS STORY. AND I TELL YOU, THE DECISION MAKERS, THIS IS WHEN THEY LEAN FORWARD A BIT MORE. ARE YOU TELLING ME YOU HAVE STARTUPS IN YOUR COMMUNITY THAT YOU'RE SUPPORTING AND INNOVATION AND WE CAN USE THEM AS OUR OUR KIND OF PIPELINE? AND THE ANSWER IS YES. IT'S GOING TO BE A MORE IMPORTANT CONVERSATION GOING FORWARD. SOME ADDITIONAL INNOVATION FUND NUMBERS. LOOK AT THE NUMBER OF LEADS, HOW THEY'VE THE UPTICK IN THAT. SO OUR FUND WAS STARTED IN 2020.
SO A GOOD HEALTHY START 2024 TOOK OFF IN 2025. WE'RE ON PACE FOR OVER 200 APPLICATIONS INTO OUR PROGRAM. LAST YEAR WE ONLY ACCEPTED SIX. SO WE HAVE A LOT OF DUE DILIGENCE, THREE PART INTERVIEW PROCESS, VERY, VERY SELECTIVE IN WHO WE PICK. WHAT'S EVEN MORE CURIOUS THOUGH, THE GRAPH TO THE RIGHT SHOWS THE TOTAL CAPITAL RAISE AND THE TOTAL REVENUE OF THOSE APPLICANTS. 2025 LOOK AT THAT AGAIN. WE'RE GETTING BETTER QUALITY APPLICANTS INTO OUR PROGRAM. NOW, YOU MAY SAY THAT'S AN ANOMALY, BUT 2024 HAD THE SAME VELOCITY OF APPLICATIONS BUT DID NOT HAVE THE SAME REVENUE AND CAPITAL RAISED AMONG THEM. SO AGAIN, SIGNALING TO US WE'RE GETTING BETTER APPLICANTS THAT WERE MORE ON THE RADARS OF BETTER COMPANIES. LOOK AT THIS SLIDE. THESE WERE ALL THE APPLICATIONS COME FROM THE INNOVATION FUND.
IS OUR HANDSHAKE AROUND THE WORLD IS OUR GATEWAY TO INTERACT WITH COUNTRIES THAT WE WOULDN'T INTERACT WITH OTHERWISE. EACH OF THESE PLACES SUBMITTED AN APPLICATION, HAD A COMPANY SUBMITTED AN APPLICATION TO JOIN OUR TEAM. YOU MAY THINK THAT THIS IS JUST AN EXAMPLE JUST FOR CONVERSATION PURPOSES, BUT I'LL GIVE YOU A REAL EXAMPLE. WHEN I WAS WITH THE GOVERNOR'S OFFICE LAST JULY, WE TRAVELED IN ASIA ON AN ECONOMIC DEVELOPMENT MISSION. DURING THAT TIME, I VISITED SOUTH KOREA AND HAD A SMALL BREAK AND THE TEAM SET UP MEETINGS FOR ME WITH SMALL COMPANIES IN SOUTH KOREA LOOKING TO COME TO THE US. THEY CAME AND PITCHED TO ME WHY THEY SHOULD BE HERE. THAT WAS ON JULY 9TH. ON JULY 30TH, THOSE COMPANIES FLEW TO MCKINNEY. THEY WERE SO IMPRESSED WITH THE STORY, AND I'M HAPPY TO REPORT ONE OF THOSE COMPANIES WAS JUST ACCEPTED INTO OUR INNOVATION FUND. SO TALK ABOUT ROI. WE GO OUT THERE NOT ONLY THE CULTURAL EXCHANGE VISITING, BUT ACTUALLY BRINGING COMPANY BACK. THE FOUNDERS GOING TO MOVE TO MCKINNEY, TEXAS. HIS COMPANY IS GOING TO MOVE HERE. IT'S A HUGE WIN FOR ALL OF US. SO WE'RE HOPEFUL TO PUT A PRESS RELEASE OUT ON THAT TOPIC VERY, VERY SOON. WE USE PLUG AND PLAY. PLUG AND PLAY IS OUR PARTNER IN MANY STARTUP INITIATIVES. THEY ARE SILICON VALLEY COMPANY ACCELERATOR THAT HELPS CONNECT STARTUPS WITH CORPORATIONS.
WHAT WE ASK THEM TO GO ABOVE AND BEYOND THAT WE SAID HELP US RELOCATE COMPANIES IN YOUR PORTFOLIO, WHICH IS 90,000 PEOPLE STRONG IN THEIR PORTFOLIO. GET MCKINNEY IN FRONT OF THEM. GET HELP US TELL THE MCKINNEY STORY. WE STARTED THAT IN APRIL. THEIR REFERRALS TO OUR INNOVATION FUND WENT FROM 7% TO 20% ALREADY. SO 20% IS THE REFERRAL RATE BACK TO US.
AND HERE ARE SOME OTHER HIGHLIGHTS THAT CAN POINT OUT. INTRODUCING OUR STARTUPS TO CORPORATIONS HOSTING 60 EVENTS. WE HAD TWO COMPANIES THEY REFERRED TO US AS. SHE MOVED TO MCKINNEY, 11 MEMBERSHIPS ARE PART OF THE COMMUNITY. 1700 PEOPLE RSVP FOR THEIR EVENTS AND THE BOTTOM LEFT HAND ONE FIVE PITCHES. THAT'S WHERE MR. TALLEY AND TROY BAILEY, WHO OVERSEES OUR INNOVATION FUND, DO A REVERSE PITCH. SO WE GO OUT THERE AND WE PITCH TO COMPANIES. SO WE PITCH TO 150 COMPANIES IN MCKINNEY. STORY THIS CONTRACTION BACK TO OUR COMMUNITY. WE'RE DOING MORE. SO THE SPACE NEXT TO OUR OFFICE IN THE SAME FLOOR, 6000FT■!S BECAME AVAILABLE. AND THE TEAM AND I HAD A STRATEGY SESSION, AND WE DECIDED TO INCORPORATE IT INTO OUR OFFICE AND CREATE AN INNOVATION INCUBATOR. SO WE ARE ACTUALLY HAVE 6000FT■!S, AN EXTA OFFICE THAT WILL BE CONNECTED. IT'S A SPOT FOR INNOVATION FUND COMPANY, INNOVATION FUND COMPANIES TO COME TO HANG OUT AND KIND OF TALK TO EACH OTHER AND LEARN. WE CAN HAVE UNIVERSITIES COME IN AND KIND OF GIVE CLASSES TO PEOPLE IN OUR PROGRAM. IT'S NOT A CO-WORKING SPACE, IT'S A COLLABORATION SPACE. AND GUESS WHAT? PLUG AND PLAY IT WILL OPERATE IT FOR US. WHAT'S GREAT ABOUT THIS IS THAT COMPANIES FROM SOUTH KOREA ON DAY ONE, THEY NOW HAVE A SOFT LANDING SPOT. THEY CAN COME INTO THAT OFFICE AND HANG OUT THERE FOR A WHILE WHILE THEY GET THEIR THEIR PERMANENT LOCATION. IT'S A GAME CHANGER. THAT'S REALLY GOING TO SET US APART FROM OTHER CITIES. ON HOW WE DO THINGS. AND ALL OF THIS IS BASED UPON WHAT WE'RE CALLING THE 12 PILLARS OF INNOVATION. SO I'M WORKING WITH WE HAVE AN INNOVATION COMMITTEE ON MY BOARD. THEY'VE WALKED THROUGH THIS. WE'RE GOING TO START TALKING TO OUR BOARD MEMBERS MORE ABOUT THIS, THIS LITTLE APPETITE HERE. THIS IS FIVE OF THE PILLARS. I WON'T GIVE YOU ALL 12 RIGHT NOW, BUT IT'S THE COMMITTEE. IT'S THE PHYSICAL SPACE, IT'S AWARDS AND SO ON. BUT OVERALL, WE WANT TO CALL THIS WHOLE INITIATIVE THE
[00:15:01]
MCKINNEY INNOVATION EXCHANGE. SO THE INNOVATION FUND WILL NO LONGER JUST BE THE ONLY BRAND AWARENESS WE'LL PUT OUT THERE. THE MCKINNEY INNOVATION EXCHANGE WILL BE THE NEW UMBRELLA BRAND. BELOW THAT WOULD BE THE SPACE, THE FUND CONNECTIONS AND SO ON. AND WE'RE REALLY PLAYING OFF THE THE WHOLE FINANCIAL ENERGY HAPPENING AROUND THIS AREA. SO BE ON THE LOOKOUT FOR MORE INFORMATION ON THAT. JUST A FEW MORE SLIDES HERE. WE ALWAYS FORGET SOMETIMES HOW WELL WE'RE DOING. IN SEPTEMBER, WE WERE RE-ACCREDITED BY THE ACCREDITED ECONOMIC DEVELOPMENT CORPORATION, THE IDC. THAT'S HUGE. EVERY THREE YEARS WE HAD TO DO IT. MANY OF YOU PARTICIPATED. MAYOR COX, YOU HELPED OUT BY BEING INTERVIEWED.IT'S A MULTI-DAY INSPECTION ON SITE BY A REVIEW TEAM. THEY MEET THE ENTIRE GROUP HERE AND GO THROUGH EVERYTHING. AND WE CAME OUT WITH FLYING COLORS, GOLD STARS ACROSS THE BOARD. SO CONGRATULATIONS EVERYBODY ON THAT ONE. AND WE HAVE THE MEDICI FAMILY, MICHAEL TALLEY, ABOUT 11 MONTHS AGO, WAS HONORED AS ONE OF THE TOP 50 ECONOMIC DEVELOPERS IN ALL OF NORTH AMERICA. THAT'S HUGE. BUT WE DON'T STOP THERE. MADISON CLARK WILL BE AWARDED IN ABOUT A WEEK AND A HALF WITH THE SAME HONOR. SO I'M BLESSED TO BE A PART OF A TEAM OF TEN PEOPLE.
20% OF MY TEAM ARE ARE THE BEST OF THE BEST. AND IT'S JUST JUST ACKNOWLEDGING THAT. SO WE'RE GOING TO TRY TO DO IS EVERYBODY ON THAT ON THAT SLIDE. THAT'S THE IDEA. THAT'S THAT'S THE IDEA. IT'S SO IMPORTANT. THESE AWARDS, THEY SIGNAL THAT MCKINNEY IS DOING THE RIGHT THING WITH THE RIGHT PEOPLE AT THE RIGHT TIME. SO VERY BLESSED TO BE ABLE TO SHARE THAT. AND I'LL SPEND A MOMENT ON MY TEAM. I CAN'T SAY ENOUGH ABOUT OUR SENIOR VICE PRESIDENT, MICHAEL TALLEY. I AM NOTHING WITHOUT THE TEAM AND ESPECIALLY MICHAEL. MICHAEL IS A SOUNDING BOARD. HE MAKES EVERYTHING GO. SO I JUST WANT TO GIVE A QUICK SHOUT OUT TO MICHAEL FOR EVERYTHING HE DOES EVERY DAY TO KEEP THE ORGANIZATION GOING. MADISON I'VE ALREADY SPOKEN ABOUT HER EFFORTS FOR BUSINESS RETENTION EXPANSION. SHE'S A NATURAL CONNECTOR, JUST FANTASTIC. DINA SMITH RUNNING OPERATIONS BEHIND THE SCENES AND JUST KEEPS US ALL IN LINE. IS THE RIGHT PERSON, RIGHT ATTITUDE TO HELP US WITH COMPLIANCE AND SO ON. MANAGER LUCA OVERSEES MARKETING AND SPECIAL EVENTS AND SOCIAL MEDIA. IF YOU LIKE WHAT WE'RE DOING IN TERMS OF HOW WE PRESENT OURSELVES, THAT'S BECAUSE OF LUKE AND NOBODY ELSE. HE DOES A FANTASTIC JOB AT IT.
ERIC RODRIGUEZ I ALREADY HINTED HE'S A RATHER NEW HIRE. HE'S OUR FIRST ANALYST EVER ON THE TEAM. HE'S JUST CHANGED THE WAY WE APPROACH HOW WE DO THINGS. IT'S JUST FANTASTIC. TROY RUNNING INNOVATION. SO TROY JOINED THE TEAM ALSO JUST UNDER SIX MONTHS AGO DOING A FANTASTIC JOB. PAULA COMES TO US FROM THE OUR PEER CITY PLANO. SO SHE'S DONE IN DAY ONE HAS MADE US BETTER DIFFERENT VANTAGE POINT, DIFFERENT WAY OF DOING THINGS REALLY SPECIAL. SO PAUL IS DOING SOME REALLY SPECIAL PROJECTS RIGHT NOW THAT YOU'LL SEE BUBBLE UP IN THE PUBLIC REALM PRETTY SOON. BRENDA ESTRADA WORKS DIRECTLY FOR MADISON, BUT MORE THAN THAT, MIRANDA MIRANDA REALLY WANTS TO BE THE FUTURE OF GOVERNMENT. SHE'S A VERY PASSIONATE, YOUNG, PROFESSIONAL LOOKING TO KIND OF TAKE ROOT AND KIND OF MERGE HER PASSION FOR LOCAL GOVERNMENT WITH WHAT SHE SEES IN MCKINNEY. SO I THINK YOU'LL HEAR GREAT THINGS FROM HER GOING FORWARD.
SHANNON ROBERTS, SHE'S NOT HERE TODAY, BUT SHE OVERSEES SPECIAL EVENTS FOR EVENTS. BYRON NELSON THAT'S SHANNON, AND MELANIE MOLINA IS ON A WELL-DESERVED VACATION. SHE'S OUR EXECUTIVE ASSISTANT, KEEPS US ALL IN LINE AND SO ON. SO THANK YOU FOR ALLOWING ME A MOMENT THERE TO KIND OF CALL OUT MY MY TEAM. BUT HERE'S THE BOTTOM LINE, MEDICI. WE ARE ACHIEVING GREAT STUFF WITH FISCAL PERFORMANCE, INNOVATION, SUCCESS AND EFFICIENCIES IN THE ORGANIZATION. LET ME SHOW YOU WHAT THAT MEANS OVERALL. FOR EVERY DOLLAR THE EDC GIVES OUT IN CAPEX, WE WERE RECEIVING $22 BACK. IN RETURN. THE PEER NATIONAL BENCHMARK IS BETWEEN 10 TO $15. THESE NUMBERS HAVE A WIDE RANGE BECAUSE DATA CENTERS HAVE MESSED UP THE EQUATION A LITTLE BIT. SO I TOOK THAT INTO ACCOUNT AS BEST I COULD. WE RESEARCHED ALL THE BENCHMARK DOCUMENTS OUT THERE THAT WE CAN FIND, SO WE HAVE A SUPERIOR ROI COMPARED TO OUR PEERS AND NATIONAL BENCHMARKS. THE PERCENTAGE OF CAPEX INCENTIVE WE ARE UNDER 5%, AGAIN, THE AVERAGE AGE BETWEEN 7 AND 10. THAT 20% IS FOR R&D USES. KIND OF THROW IT OFF A LITTLE BIT AND THEN PER JOB CREATED, WE DON'T GIVE A COMPANY MONEY TO CREATE A JOB. WE REWARD THEM WHEN THEY DO CREATE A JOB AS PART OF AN INCENTIVE PACKAGE, $15,000. RIGHT NOW, THESE NUMBERS KIND OF SHOCK ME. RIGHT NOW THE NATIONAL AVERAGE IS $55,000. CITIES ARE PAYING TO HELP JOB CREATION IN THEIR CITY PER JOB 220,000. SO WE ARE VERY BLESSED WITH THESE NUMBERS.
PIPELINE HEALTH, OUR CONVERSION RATE FROM LEADS INTO A PROJECT IS 15%. YOU'LL SEE WE'RE ABOVE AVERAGE IN THAT FACTOR. OUR WIN RATE GOING FROM A PROJECT TO ACTUALLY SIGNED AGREEMENT, 29% ON TRADITIONAL PROJECTS, 13 ON INNOVATION, VERY COMPETITIVE THERE. AND THEN OUR CLOSING EFFICIENCY PROJECTS LIFE CYCLE IS ABOUT 19 WEEKS. SO WE'RE ALMOST MAN, WE ARE WE'RE DOING
[00:20:05]
REALLY GOOD ON THAT. WE'RE FASTER THAN OUR PEERS ON THAT ONE. AND OUR INNOVATION FUND, WE HAVE A 73% SUCCESS RATE. WE'RE IN THE PRIVATE SIDE OF THAT WORLD. IT'S UNDER 10% SUCCESS RATE. SO WE'RE DOING EXCEPTIONAL. SO KUDOS TO MY TEAM AND THE BOARD OF DIRECTORS FOR FOR EVERYTHING THEY DO TO HELP GET THESE FANTASTIC NUMBERS IN FRONT OF US. THIS IS A SNAPSHOT IN TIME OF OUR CURRENT 55 AGREEMENTS THAT WE HAVE ON THE BOOKS TODAY. SO IT'S A GREAT EXAMPLE AND ENGAGEMENT. WE'RE OUT THERE ALL THE TIME. WE'RE DOING GREAT STUFF. WE SPEAK AT EVENTS, CJ CUP, RUNNING TABLES, PRESENTING WITH OUR PEER CITIES. WE'RE MEETING WITH THE GOVERNOR, WE'RE BEING INVITED TO SPECIAL EVENTS. WE'RE HOSTING EVENTS THAT BRING PEOPLE TO MCKINNEY. WE HAD THE TICKET HERE IN MCKINNEY, WHICH BROUGHT HUNDREDS OF PEOPLE AND BROKERS TO COME EXPERIENCE MCKINNEY. AND THEN HERE'S THE OPPORTUNITIES, HERE'S WHAT WE'RE HEARING IN OUR SIDE. AND I THINK CHAIRMAN BLACKMON AND I AGREE THAT WE'D LIKE TO HEAR YOUR IMPRESSION OF SOME OF THIS STUFF, EITHER HERE OR PRIVATELY, IF YOU WANT. BUT REALLY, WE WANT TO ENGAGE WITH THE CONSULTANT TO GO AHEAD AND KICK OFF OUR OUR STRATEGIC PLAN FOR 2026 TO 2030. OUR CURRENT PLAN WAS A 23 TO 26 TIMELINE. AND THE GOOD NEWS IS THE STATE OF TEXAS JUST RELEASED THEIR PLAN, WHICH IS 25 TO 29. SO WE CAN TAKE THEIR PLAN, SPRINGBOARD OFF OF THAT AND UPDATE OUR PLAN. WE WANT SUPPORT IN THE WORKFORCE DEVELOPMENT WORLD. CORPORATE RECRUITMENT IS HUGE FOR US. WE NEED MORE CLASS A SPEC OFFICE. EVERY CITY NEEDS THIS, BUT WE NEED IT. WE GET THE PHONE CALLS. WE JUST DON'T HAVE THE INVENTORY ON THE GROUND. AIRPORT EXPANSION IN THE LAND NEXT TO IT. I THINK YOU HEAR A LOT ABOUT THAT GOING FORWARD, AND WE'RE GETTING MORE AND MORE CALLS ABOUT CONVENTION AND EVENT SPACE, SO WE HAVE TO THINK ABOUT THAT AS BEING A CORE FOCUS OR MICRO MISSION OF OUR GROUP INNOVATION EXCHANGE, THE PASSION BEHIND THAT LOVE TO SUPPORT MORE LAND OPPORTUNITIES, FOREIGN DIRECT INVESTMENT. NO SURPRISE THERE. WE'RE SEEING MORE OF THAT. AND THEN PRIVATE SECTOR MERGERS AND ACQUISITIONS. THAT'S KIND OF CHANGING THE LANDSCAPE A LITTLE BIT. SO WE WANT TO KIND OF DIG INTO THAT A BIT MORE. SO THOSE ARE OPPORTUNITIES WE SEE WE WANT TO GRAB. AND WITH THAT, MR. MAYOR, THAT CONCLUDES THE THE FORMAL PART OF MY PRESENTATION. I'D BE HAPPY TO ANSWER ANY QUESTIONS OR INSPIRE SOME DIALOG WITH THE BOARD OF DIRECTORS. THANK YOU, MR. KOSKI. COUNCILMAN CLAUDIA. NO QUESTIONS SIR. ANYONE? CHAIRMAN MILLER, DO YOU HAVE ANY ANY BOARD MEMBERS WITH QUESTIONS OR COMMENTS? ANYBODY ON THE BOARD WOULD LIKE TO MAKE ANY QUESTION OR COMMENT? THE ONLY THING I'D ADD, MAYOR, IS THAT OBVIOUSLY, WE SERVE AT YOUR PLEASURE, AT THE PLEASURE OF THE MAYOR AND COUNCIL. AND AS WE MOVE FORWARD ON THE STRATEGIC PLANNING PROCESS THAT IS REQUIRED BY OUR BYLAWS. SO OBVIOUSLY, INPUT FROM THE COUNCIL WILL BE IMPORTANT TO MAKE SURE THAT WE'RE WORKING TOWARDS THE PRIORITIES THAT YOU'VE SET FOR ECONOMIC DEVELOPMENT FOR THE COMMUNITY. MR. KOSKI, THIS IS A LOT OF INFORMATION. YOU WENT OVER REALLY FAST. WHICH IS GOOD BECAUSE IT GIVES EVERYONE A PICTURE OF WHAT WE'RE WORKING ON. BUT YOU COULD EXPAND THAT EVEN EVEN FURTHER. I THINK WHAT IT SHOWS IS HOW DAY TO DAY THIS IS, AND HOW COMPETITIVE WHAT YOU DO AND WHAT YOUR STAFF DOES AND HOW IMPORTANT IT IS FOR MCKINNEY TO BE COMPETITIVE, BECAUSE IT IS A A WORLD OUT THERE WHERE IF YOU DON'T PUT YOUR BEST FOOT FORWARD, SOMEONE ELSE WILL. WE'RE FORTUNATE TO HAVE YOU AND YOUR TEAM AND YOUR BOARD. EVERYONE APPEARS TO BE PULLING THE ROPE IN THE SAME DIRECTION, AND THAT'S THAT'S A GOOD THING FOR MCKINNEY. ALSO, THERE APPEARS TO BE MORE OF A COLLABORATIVE EFFORT WITH OUR NEIGHBORING CITIES. THERE WERE TIMES IN THE PAST WHEN WE HAD DIFFERENT CONVERSATIONS, BUT IT APPEARS THAT EVERYBODY IS WORKING TOGETHER BECAUSE IT IS A REGIONAL TOPIC. ECONOMIC DEVELOPMENT IS REGIONAL. IT'S NO LONGER LOCAL. WE CAN'T THINK LIKE WE'RE JUST MCKINNEY. AND I APPLAUD YOU AND YOUR TEAM FOR FOR HELPING US TO REALIZE THAT.OKAY. THANK YOU SIR. ALL RIGHT. WITH THAT, WE WILL ALLOW ANYONE IN THE AUDIENCE TO ADDRESS THE COUNCIL ON ANY ITEM THAT DOES NOT HAVE A PUBLIC HEARING, WHICH SHOULD BE ONE ITEM. TODAY.
IT SAYS ECONOMIC DEVELOPMENT REPORT. SO ANYONE IN THE AUDIENCE CARE TO ADDRESS
[JOINT EXECUTIVE SESSION]
COUNCIL. ALL RIGHT. SEEING NONE. WE DO HAVE AN EXECUTIVE SESSION. WE DO NOT HAVE ACTION COMING OUT OF THAT SESSION. SO WHAT WE WILL DO WE WILL RECESS INTO THE BACK ROOM, THE WORKROOM. AND THEN WHEN WE COME OUT, WE WILL LOOK FOR A MOTION TO ADJOURN WITH THAT. IF THERE'S NO OTHER COMMENTS OR QUESTIONS, MISS DRAIN, IT IS 425 AND WE WILL RECESS INTO EXECUTIVE SESSION.THANK YOU EVERYONE. AND WE AS A BOARD WILL ALSO RECESS INTO EXECUTIVE SESSION AT THIS TIME .
[00:25:06]
LET ME GO FIRST. ALL RIGHT. WE'RE OUT OF EXECUTIVE SESSION AT 501 WITH EDC. AT THIS TIME, I'LL ENTERTAIN A MOTION TO ADJOURN. SO MOVED. MOTION BY MR. HOUSLEY. SECOND, SECOND.ALL RIGHT. WE HAVE A SECOND, AND WE ARE ADJOURNED. THANK YOU, SIR. THANK YOU, MAYOR MUELLER.
THE CITY COUNCIL IS OUT OF EXECUTIVE SESSION, AND WE HAVE A MOTION TO ADJOURN BY COUNCILMAN LYNCH. I'LL SECOND. SECOND BY COUNCILMAN FRANKLIN. ALL THOSE IN FAVOR SAY AYE. AYE.
THOSE OPPOSED? SAME SIGN. IT IS 502 AND CITY COUN
* This transcript was compiled from uncorrected Closed Captioning.