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Richardson highlights Micron expansion, startup grants and international partnerships as economic wins
Summary
City officials showcased 2024 economic development activity including a $30 million Micron expansion at the Innovation Quarter, a Research Award Match Program grant to a local startup, and new international partnerships to attract firms to the IQ.
City leaders used the State of the City address to highlight several economic development achievements, including corporate relocations, a federal research lab at the Innovation Quarter and new city programs to support research-focused startups.
Mayor Bob Dubey announced the $30,000,000 relocation and expansion of Micron Technology into Richardson’s Innovation Quarter. "With billions in revenue, Micron is a Fortune 500 company specializing in semiconductors," Dubey said, and he presented the move as evidence that Richardson’s technology cluster can attract major employers.
Why it matters: The city framed the announcements as part of a broader strategy to redevelop office campuses, attract technology and advanced-manufacturing employers, and support startups that can commercialize research.
Officials also highlighted Asociia's relocation of its global headquarters from Dallas to Richardson, a move officials said will bring nearly 1,000 employees to a nearby office development. City presentations cited other private-sector investments that officials said totaled close to $100,000,000 in new capital investment for 2024.
The city described the Research Award Match Program (RAMP), which awards matching funds to research-focused small businesses that meet federal criteria. First Then, a Richardson startup founded in 2020, was identified as the first RAMP recipient. Mayor Bob Dubey invited founders Amanda and David Schnetzer to the podium and recognized their work developing AI-based digital tools for pediatric ADHD care.
City officials also referenced a federally funded 5G research and testing lab at IQ HQ—part of a CHIPS and Science Act program backed by a $42,000,000 federal grant—and a partnership with Startup Runway to recruit international companies. Officials cited several private-sector announcements tied to local job growth, including GEICO’s commercial-hub bringing roughly 500 jobs and other firms opening research and development centers in Richardson.
Ending: Officials said the city will continue to prioritize redevelopment of office parks, tenant improvement incentives and targeted support for research-stage firms. No binding agreements or incentive details were disclosed during the address.
