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Since its January launch, the McKinney Economic Development Corp.’s Innovation Fund has brought 11 new tech headquarters, startup relocations and startup expansions to the McKinney area, with a focus on the State Highway 121 corridor and downtown McKinney.
The fund’s efforts have resulted in 230 new jobs for the area with an average salary of $86,000, according to the Dallas Regional Chamber of Commerce. The Innovation Fund has also received 40 applications from around the country.
“Our specific and targeted eligibility requirements of the program allow us to be straight-forward and complete deals quickly and to match the speed a startup needs,” Danny Chavez, senior vice president at McKinney EDC, said. “We’re building an ecosystem and creating a space for startups to access funding, and helping them scale at the timeliest need for their company during the startup lifecycle.”
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