The Dallas-Fort Worth area, which includes Denton County, continues to attract companies large and small. DFW has the third highest number of Fortune 500 headquarters in the U.S., behind New York City and Chicago.
With no state income tax, a lower cost of living and a low county property tax rate, we have positioned Denton County to be a key player in attracting these companies.
In 2017, Toyota Motor North America relocated its headquarters from California to Denton County, bringing 3,000 jobs. Recently, Charles Schwab announced it would move its headquarters to its campus in southern Denton County.
In October, PGA of America officially broke ground on its new headquarters near U.S. 380 and the Dallas North Tollway where the 600-acre project will open in mid-2022.
In light of the fast-paced growth we are seeing across the county and, in particular, along the 380 Corridor, the Denton County Commissioners Court in December approved an updated tax abatement policy to potentially offer incentives for smaller companies to move into our region. Prior to the changes, a company had to offer more than 500 jobs with an investment in excess of $10 million to be considered for a tax abatement. Under the new policy, a company could be eligible for an abatement if it is adding 10 jobs with an investment minimum of $1 million.
For all of our Precinct One communities in northern Denton County, the new policy could provide just the right incentive to attract new companies with high paying positions – continuing our mission to make Denton County the best place to pursue a career and raise your family.
Regional road and bridge updates
FM 2181 – A $37.6 million project to widen FM 2181 from two lanes to a six-lane divided roadway from the Denton/Corinth city limits to Lillian Miller Parkway is expected to be complete in November 2021. Activities expected in January include city of Denton water lines, storm water lines, prep ROW and grading.
I-35E/Mayhill – This $55.6 million project to reconstruct the interchange at Mayhill and I-35E is projected to begin in May 2021. The 95 percent plans were expected in December but will be delayed to February 2020 to incorporate traffic and final survey. TxDOT has received preliminary survey and is awaiting the final survey on the northbound frontage road. Additional Level B and Level A SUE north of Mayhill south of Loop 288 has been requested. Preliminary Level B SUE north of Mayhill and south of Loop 288 has been received. A utility coordinating meeting was held on Nov. 21, 2019.
I-35/35E/35W Merge – TxDOT and consultant are working on bridge layouts. Coordination meeting with I-35 North project held on Dec. 4. With draft geotech information received on Dec. 2, 2019, submittal of 30 percent plans (previously expected in January 2020) will be delayed to incorporate geotech.
I-35E/Loop 288/Brinker/Mayhill – Construction is expected to be complete in January 2020. Currently, asphalt removal in northbound main lanes are underway as well as construction of northbound main lanes and placement of cement treated subgrade southbound frontage road. Asphalt paving on the southbound frontage road is expected soon with work on the sidewalk, sod/grass, rip rap and ditches.
County road and bridge updates
Hickory Creek Road Street Lights - Request to design submitted to ONCOR.
Mayhill Road – From north of Quail Creek Road to U.S. 380, paving operations are ongoing.
A partial traffic opening was scheduled for Dec. 19 with a change in traffic to kick off the divided-road operations by allowing one southbound lane open to use the ultimate southbound pavement and northbound lane to use the ultimate northbound pavement. Work on median, sidewalks, driveways and seed/sod will continue. Signal installation is ongoing. Driveway design constructability review and right of entry identification underway.
Lake Sharon Extension – The city, bankruptcy and surety company have executed termination paperwork. Awaiting execution by contractor.
Shady Shores Road – TxDOT has drafted funding agreement. The city of Lake Dallas has executed ICA to obligate 50 percent of funding for engineering with an agreement to be placed on Commissioners Court agenda for consideration. The town of Shady Shores has executed ICA to obligate 50 percent of funding for engineering. Commissioners Court approved the agreements on Aug. 27. On Oct. 15, 2019, Denton County Commissioners Court approved a Request for Qualifications for preliminary engineering and environmental efforts. Qualification statements were due on Nov. 14. Five firms submitted qualification statements. The evaluation committee members have been selected and were approved by the Commissioners Court on Nov. 19. The selection committee has been evaluating responses and will be scheduling a meeting in January 2020 to select the most qualified firm.