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EDC highlights Venue amphitheater, surf-park plans and incentives as economic drivers
Summary
The McKinney Economic Development Corporation overviewed projects including a 20,000-seat amphitheater (roughly $300M private investment), a proposed surf park called Cannon Beach, and incentive structures that would reimburse developers from future property tax over a 20-year period; the presentation emphasized job creation and tax-base growth.
McKinney — The McKinney Economic Development Corporation presented a portfolio of projects and incentives on Feb. 9, highlighting a major private development for a 20,000‑seat amphitheater (a private investment the presenter described at about $300 million) and a proposed surf park, both framed as anchors for broader retail, hospitality and office development.
Michael Koski (EDC president and CEO) described the EDC’s role in attracting and supporting projects, including land holdings and reimbursement structures that share a portion of future property-tax revenue with developers as an incentive to move projects forward. He said in an illustrative deal the amphitheater could receive about $3.9 million in reimbursements over 20 years while McKinney could receive larger long-term tax receipts; the presentation included projected ad valorem and sales-tax impacts across local taxing entities.
Koski also flagged complementary projects — hotels, retail and office space — and workforce-development partnerships with MISD to ensure local labor supply keeps pace as new businesses expand. He said the EDC pursues both large corporate relocations and small-startup grants through an innovation-exchange program.
Council and board members did not take votes on incentives at the meeting; Koski characterized the presentation as an update on economic strategy and active projects rather than a formal action item.
