Read verified reviews from business owners, find state/local incentives, and understand key decision data.

Target Industries

Advanced Manufacturing

McKinney, Texas, is an ideal location for manufacturing companies due to its strategic positioning and favorable business environment. Situated in the Dallas-Fort Worth metropolitan area, the city enjoys excellent transportation links, with access to major highways and the DFW International Airport, facilitating efficient distribution of goods.

Technology + IT

McKinney presents an enticing proposition for technology and IT services businesses looking to establish a strong presence. With its proximity to the flourishing Dallas-Fort Worth tech hub, companies can tap into a vast pool of skilled professionals and collaborative networks, fostering innovation and expansion.

Healthcare + Life Sciences

For businesses in the healthcare and life sciences sector, McKinney offers a compelling location with numerous advantages. The city's strategic position within the DFW metroplex grants easy access to a substantial and growing consumer base, ensuring a steady demand for medical services and products. 

Reviews

Write your own review

Business Incentives

Historic Neighborhood Improvement Zone (HNIZ) Tax Exemption Program

The HNIZ was created to help preserve the city's unique and historic neighborhoods while encouraging property owners to maintain and/or rehabilitate their residences. Property owners within the HNIZ boundary may receive ad valorem tax exemptions inclusive of land and building improvements based on verified investment meeting specified criteria.

Neighborhood Empowerment Zone (NEZ)

The NEZ program provides for impact fee waivers for small-scale infill development projects within the boundaries of the NEZ program area. Projects that may be eligible for impact fee waivers include the following types of construction:

New single-family residential
New multi-family
New non-residential
Vertically-integrated mixed-use (non-residential and residential uses in a single structure)

Documents

Historic Marker Program

A City of McKinney Historic Marker is a local designation awarded by the Mckinney Historic Preservation Advisory Board. The owner of the house submits an application along with a documented history of the house and property. If the house is awarded a marker, then the house may qualify for a tax exemption for city property taxes.

For more information on economic incentives in downtown McKinney, visit the Downtown Development page.

State Incentives

Texas Enterprise Fund

The Texas Enterprise Fund (TEF) is the largest “deal-closing” fund of its kind in the nation. The fund is used as a performance-based financial incentive tool for projects that offer significant projected job creation and capital investment and where a single Texas site is competing with another viable out-of-state option.

Texas Small Business Credit Initiative

The objective of the Texas Small Business Credit Initiative (TSBCI) is to support state programs that provide resources to assist small business growth and create new jobs through increased access to small business funding. In addition, the program will assist small businesses that are traditionally marginalized and those that have been impacted by the COVID-19 pandemic. 

Skills Development Fund

The Skills Development Fund is an innovative program created to assist Texas public community and technical colleges finance customized job training for their local businesses. The Fund was established by the Legislature in 1995 and is administered by the Texas Workforce Commission. Grants are provided to help companies and labor unions form partnerships with local community colleges and technical schools to provide custom job training. Average training costs is $1,800 per trainee; however, the benefit may vary depending on the proposal. 

Business Climate Overview

McKinney is a city in Collin County, TX, and is located about 30 miles north of downtown Dallas. It is easily accessible via major highways such as US-75 and SH-121, making it a convenient location for businesses.

The business climate in McKinney makes it a strong option for business expansion and relocation projects because of its growing economy, favorable tax environment, skilled workforce, and supportive business community. The city is home to companies like Raytheon, Torchmark Corporation, Encore Wire Corporation, and Independent Bank Group.
Here are some specific elements of the business climate in McKinney that make it attractive for corporate expansion and relocation projects.

Taxes: McKinney has a relatively low tax burden for both individuals and businesses. The state of Texas also has no personal income tax and offers various tax incentives for businesses.

Workforce: McKinney has a diverse and skilled workforce, with professionals in various industries such as technology, healthcare, finance, and manufacturing. The city's proximity to Dallas provides easy access to a larger pool of talent.

Wages: The median household income in McKinney is approximately $98,317, while the median rent is around $1,300.

Industries: McKinney is known for its strong presence in industries such as aerospace and defense, telecommunications, financial services, healthcare, and technology. Companies like Raytheon, Torchmark Corporation, Encore Wire Corporation, and Independent Bank Group have a significant presence in the city.

Quality of Life: McKinney offers a high quality of life with its vibrant downtown area, diverse dining options, cultural attractions, and recreational opportunities. Some popular sites and attractions include the McKinney Performing Arts Center, Heard Natural Science Museum & Wildlife Sanctuary, and the McKinney Farmers Market.

Education: Nearby universities and community colleges include Collin College, known for its strong programs in business, healthcare, and technology, as well as the University of Texas at Dallas, which offers a wide range of undergraduate and graduate programs in various fields.

Taxes

Business (Corporate) Tax Rate

In Texas, there's no corporate income tax. Instead, businesses pay a franchise tax based on their margin, the difference between total revenue and certain deductions. Most entities have a 0.75% rate, while those in retail and wholesale pay 0.375%. Firms with over $1.23 million in annual revenue are subject to this tax. Texas also has a 6.25% state sales tax rate, with an additional 2% possible in local sales tax.

Commercial Property Tax

In McKinney for the year 2023, the combined commercial property tax rate is 1.785576 per $100 of assessed value. This rate encompasses several components:

City of McKinney: 0.427513
McKinney ISD: 1.127500
Collin County: 0.149343
Collin College: 0.081220

The assessed value of commercial properties is established by the Collin County Appraisal District, which evaluates property values across Collin County, encompassing residential, commercial, and industrial properties.

City + County Sales Tax

In McKinney, Texas, the combined city and county sales tax is 2%, with a state sales tax rate of 6.25%, totaling 8.25%. McKinney's sales tax rate is 1.00%, while Collin County has no sales tax. This tax applies to most goods and services, excluding items like groceries, prescription drugs, and clothing. To calculate the sales tax for a purchase, multiply the rate by the purchase value. For example, a $100 item incurs $8.25 in sales tax (8.25% x $100).

Map

McKinney, TX image

Media

Local Resources