Tony Felker, Former CEO & President, Frisco Chamber of Commerce
In an interview with Invest:, Tony Felker, CEO and president of Frisco Chamber of Commerce, talked about the highlights of the past year, including the development of a strategic plan and the appointment of a new COO. He also discussed the advantages of the region, including migration from other states, and the challenges, such as the increasing demand for affordable housing.
What have been some of the biggest highlights for the Chamber in the past year?
We completed our newest strategic plan and are moving into the implementation phase. We also recently hired our first COO position, who is playing a vital role in driving the execution of our strategic plan forward. We are also in the process of creating our own foundation to help work on our four key initiatives, which are the small-business ecosystem; workforce issues; nonprofit assistance and financial literacy. We are also involved in the planning of the redevelopment of downtown.
What are some of the advantages of the region compared to others?
We still have a tremendous amount of migration coming in from other states like California, Illinois and New York. I think people still feel nervous about the overall national economy but we feel fairly well insulated here in the long term. There continue to be growing issues that we continually work on like infrastructure and workforce housing. The entry-level cost of housing is going up because of the people migrating in and increasing demand so we are always looking at how that can be improved. We are a victim of our own success in that way.
What would you say are the most prevalent infrastructure needs in the region to ensure sustainable growth?
Many think that the physical infrastructure is the most important such as highways and thoroughfares but we also need to take a long-term view at things like water supply, which takes 20-30 years to get approvals for and get online. We are starting to reach tipping points where people are asking about the role of autonomous vehicles, drones, working from home and so on. We are being careful to not just build new freeways but coming up with new and innovative ways to improve transportation as so many of these improvements or additions are connected. We have to consider the long term and the smartest approach.
A matter we are looking at on a statewide basis is electric infrastructure and the grid as well as the broadband internet infrastructure. With the $33 billion surplus we have in the legislature right now, we have a once-in-a-lifetime opportunity to really benefit everyone by making the best use for those dollars.
Another big factor is DFW being selected for the World Cup, which is a major driver of tourism and projects coming in, especially if we are selected for one of the final games.
What industries are you focusing on?
Tourism continues to be a big factor but also innovation because it touches every industry and continues to evolve at an unprecedented pace. We now have five innovation clusters that have moved to Frisco and will continue to impact the region. In addition, we also have the Universal Parks and Resorts coming to Frisco, bringing experienced engineers. Leveraging these innovators and connecting our educational partners, as well as working together to maximize that synergy, are important.
What efforts are being made in terms of workforce development?
We want to make sure that the area we look at is one where we can move the needle and not duplicate other’s efforts but rather complement them. The Frisco EDC is working on bringing in companies and employees. We are leaning into onboarding young students and workers into the business community as quickly as possible. We hope that by offering mentorship and internship opportunities to high school students, they will be more likely to stay in Frisco or return after college graduation, which keeps the workforce here. We need to instill that sense of belonging and do our part to bridge the gap between students and the local business communities.
What are you monitoring in terms of regulation?
We are focused on things that impact the local business community. An example is the new community college funding agreement that takes a look at the funding for community colleges. Colleges will be funded based on the outcome in certain areas that are needed. We remain bullish on local control issues and want to maintain local control.
We are also proud to have filed a bill in the state legislature this year for financial literacy in high schools. Only 13 states in the country require it for graduation. We believe that if it is an elective, those who really need it won’t take it. We want to ensure people are well prepared once they enter society but we realize it will take a couple of legislative sessions before it comes into action.
What is your outlook for the next two to three years?
We are a very strong Chamber right now and a leader among Texas chambers of commerce, but we constantly strive to elevate, grow and improve the way we are doing things. We are confident about where the Chamber is headed in the region but everyone is still careful about what is going on in terms of the current economy. Once we get over that apprehension, this area is going to experience significant economic growth. The current slowdown gives us the opportunity to pause, think about where we are and ensure that everything is in place.
Every seven or eight years, the city of Frisco updates our comprehensive plan and has recently put together a Comprehensive Plan Advisory Committee (CPAC) to look at areas that need to be adjusted and changed. I think this one will be the most crucial comprehensive update we’ve done. As we look at workforce issues and workforce housing, this comprehensive plan will be the most important in terms of setting the table for where this community will be for the next 15 to 20 years and in addressing sustainability for the long term.
