Where’s the next BOOM town for small businesses?
Look no further than Frisco and McKinney’s northern neighbor…the City of Prosper. Back in 1996, Dallas Cowboys’ owner Jerry Jones, began purchasing land in Prosper. His family business, Blue Star Land Holding, began a retail and restaurant development. Aptly named the Gates of Prosper, the development is in its 3rd phase of construction. Steve Brown wrote, “The development will also include 1,000 residential units, including apartments, single-family homes and townhouses.”
In addition to retail and residential development, two major hospitals, Cooks Children’s and Children’s Health, have opened new locations in Prosper.
What does this mean for small businesses? Here are some key reasons to consider Prosper as a favorable spot to open or expand a business.
It’s a Prime Location just North of Dallas
Prosper is a northern suburb of Dallas and just north of Frisco and McKinney. The city of Prosper is conveniently situated for travel to airports and Downtown Dallas and Fort Worth.
In fact, Prosper is only:
- 32 miles from Dallas/Ft Worth International Airport
- 33 miles from Dallas Love Field, 35 miles from Downtown Dallas
- 14 miles from Collin County Regional Airport
- 55 miles from Fort Worth.
Prosper is GROWING: Watch the below video to see more of Prosper in 2022.
Here are some additional factors that make Prosper a great location for your small business:
- 13% growth since 2021
- 117 new and upcoming businesses were added in 2022
- 1.75 Million available workers in a 25 mile radius
- $1 billion dollars committed to road infrastructure
- Better-than-average unemployment rate in Collin County, compared the DFW area and the United States
- See a list of all businesses in Prosper, TX Business Directory
Demographics Display a Prosperous Workforce
The City of Prosper is an affluent area per the economic indicators below:
- Median Household Income $153,777
- Median Earnings/Worker $85,560
- Median Housing Value $436,600
- Median Monthly Owner Cost with Mortgages $2,921/month
- Median Monthly Rent $1,482/month
- Owner-Occupied Housing 86.5%
- Prosper Residents with Health Insurance 95.4%
The Tax Rate Can’t Be Beat
The State of Texas has No income tax! Check out the Prosper Property Tax Rate compared to the rest of Collin County.
Benefits of Setting Up Shop in Prosper
Here are some benefits to living and working in Prosper, TX:
- Master planned communities
- Prosper Independent School District is ranked #13 best public school system in the state of Texas and in the top 10 DFW in overall best district, school safety and best for athletes.
- Historic Downtown Development: Downtown Prosper offers unique boutique stores and restaurants and services
Clearly, Prosper offers tremendous growth opportunities for small business owners looking to expand or open a new business. Consider whether the demographics fit your target market. Next, determine if you are able to weather the growing pains of a booming town? If the answers are yes, Prosper welcomes you!