|
McKinney Economic Development Corporation · September 15, 2026
MEDC Acts On Plug And Play, Project Fizzy, And Other Items
The McKinney Economic Development Corporation board took action on two economic development items Tuesday, while also getting updates on airport service, business growth, and other city and partner organization items.
Plug And Play Talks Move Forward
After meeting in executive session, board members voted to afford staff the ability to negotiate a new contract with Plug and Play within parameters discussed in executive session. Earlier in the meeting, a committee update referred to a possible extension. The board did not publicly detail terms during the meeting.
Project Fizzy Gets Board Approval
The board also approved Project Fizzy after discussing it in executive session. The public portion of the meeting did not include details about the project.
President Contract Heads To Legal Drafting
Board members voted to authorize the city attorney to draft an agreement for next year’s agreement with the MEDC president. Earlier in the meeting, the governance committee said it would review the president’s employment agreement in executive session. The vote did not publicly set contract terms.
Cannon Beach Budget Change Approved
The board approved a budget amendment related to the Cannon Beach development agreement. Board and staff members said it was not a new incentive, not a new deal point, and not a restructuring of the current agreement. Staff said the change gives the accounting team the ability to account for transactions tied to the land sale and to write off the note over the next few years as development progress occurs as written in the agreement.
Construction At Cannon Beach Discussed
During the Cannon Beach discussion, the board chair said that if people drive to the project site they can see a large hole where construction has already started, and said the project is ongoing. He also said Tuesday’s item was part of something that has been going on for some time.
June And July Financial Reports Pass
Board members approved the June and July 2026 financial reports. Staff said June brought a little under $2.3 million in revenue and close to $4.4 million in expenditures, with much of the spending tied to project incentives that came due in June. Staff said July brought almost $2.3 million in revenue and almost $1.5 million in expenditures.
Sales Tax Growth Holds Steady
Staff said McKinney’s year-to-date sales tax growth was 5.5%. Staff also said retail trade was at 5% and food services at 9% on the year-to-date sales tax by industry report. | 
