RICHARDSON, Texas – The City of Richardson is committed to expanding its business and technology base.
Richardson is home to UT Dallas and many high-tech companies. There is now what is known as the Richardson Innovation Quarter, or IQ.
“The goal of the Richardson Innovation Quarter is to become Texas’ leading technology center by bringing together companies, universities and the city under one roof, and we’ve finally accomplished that,” said Don Magner, Richardson City Manager.
The city has partnered with Startup Runway to attract international companies to IQ.
“Think of us as a facilitator, helping them with their soft landing, taking them by the hand on their journey,” said Mahesh Nandyala, Founder and CEO of Startup Runway. “From starting their companies to helping them connect with the market to selling their products, helping them develop new products, increase production and create new jobs for our local economy.”
Richardson sent a team to India to meet with government officials, financial investors and business leaders in the hope of attracting an influx of startups from the world’s fifth-largest economy.
The city manager says it’s a win-win situation.
“The relationships we build within these walls will result in higher property taxes for Indian businesses currently leasing vacant space, higher sales taxes on their programs and services offered for the first time in the United States, and an overall more resilient and diverse economy here locally,” Magner said.
The city wants to bring the semiconductor, manufacturing and machine learning with artificial intelligence industries into the IQ.
“We are seeing the fusion of India’s rich heritage of innovation and entrepreneurship with our own vibrant local economy and community spirit,” said Richardson Mayor Bob Dubey. “We call it the Richardson Way.”
The city hopes to increase its revenue and strengthen its reputation as a technology location.
