Looking Ahead: Richardson area works to attract foreign investments, offices
What challenges and opportunities do you anticipate for local businesses in 2015?
A: Richardson will continue to benefit as the CityLine development along State Highway 190 [President George Bush Turnpike] comes to fruition during 2015. These additional companies and workers will increase the amount of business activity, along with the number of people working, visiting or moving to the area.
Since I work across international lines, every day I see the increased interest in Richardson as people and businesses become more and more aware of the talent, innovation and network of future-focused people our area has to offer.
Additionally housing an academic powerhouse like the University of Texas at Dallas in our backyard brings many benefits to our community. I’m impressed as I mentor and interact with their international students.
Change is rarely one-sided, however. As development happens in the 190 corridor, more renovations should be implemented to address our aging buildings and retail areas.
The City Council has taken proactive steps to identify and address these needs, and our economic development team continues to be ambassadors and facilitators to implement positive change in these areas.
What are your expectations for the economy, both locally and nationally?
A: Richardson will begin to experience the full impact of the CityLine development this year, with the actual presence of neighbors State Farm, Raytheon, Whole Foods and our other retailers.
From a national perspective, the U.S. dollar will be stronger with Japan’s massive quantitative easing and stagnation in the European markets.
However, this lack of demand internationally will lead to fewer exports and will not help our national deficits.
When looking at a direct international effect on local Richardson, I foresee a very positive future. Richardson’s international program, under the direction of the mayor’s office, the Richardson Economic Development Partnership and [Chamber Vice President] Mike Skelton, is starting to generate tangible returns on investment with foreign companies making visits and investments in Richardson and developing their first U.S. offices in our city. These new companies will also generate new business demands and activities which will in turn benefit our current businesses.
This international growth is aided by the connections we’ve made with our UTD international students, who serve as local bridges for future international business development.
These developments cause a higher demand for housing in Richardson because of these business relocations. Home values will continue to rise, and the impact on our city’s tax resources will benefit our citizens in services provided by the city.
What are some of the highlights of Richardson Chamber of Commerce’s planned events and programs?
A: The Chamber has established its legislative agenda for the coming session, and we’ll be working with our representatives to pass legislation that will benefit businesses in Richardson and Texas as a whole.
I also have a high interest in our international outreach. Our International Technology Business Development effort will team with the city and our representative Metroplex Technology Business Council to have a delegation visit Japan, Korea and China this year to continue to develop long-term relationships.
What advances in technology, transportation and communication have affected business this year? What role will those advances play next year?
A: Richardson has emerged as a cloud-computing powerhouse as big data and online demands have intensified worldwide. Our legacy with a power and network infrastructure will continue to bring in clean technology opportunities and money.
