McKinney Economy: Top Industries, Employers, and Business Growth

When people ask me whether McKinney is a good long term bet, the honest answer starts with jobs. Home values in a city hold up when people can work nearby, and McKinney has more of its own employment base than a lot of buyers realize. It's not just a bedroom community for Plano and Frisco.

McKinney's big employers are a mix you don't see in most suburbs: a defense electronics campus, one of the country's largest copper wire plants, a life insurance headquarters, three hospitals, the county seat, and now a commercial airport. Below I break down who employs people here, which industries are growing, and what the McKinney Economic Development Corporation (MEDC) is chasing next.

One caution before the numbers: the City and MEDC don't publish a current, ranked top employer list with headcounts that I could open, so I used each company's own most recent public number and dated it. I also include the City's older ranked list for context. If you're still deciding on McKinney, my guide to moving to McKinney covers the basics.

McKinney Economy at a Glance

Top Employers in McKinney

These are the largest McKinney employers I could document with a recent public headcount. The numbers come from different years and different kinds of sources, so read them as "at least this many" rather than a ranking.

For context, here's the ranked list the City published in its 2015 Annual Development Report. It's old, but it shows how stable the top of McKinney's job base has been.

Since then, Encore Wire and Globe Life have both grown substantially in McKinney, and Independent Financial built a headquarters here before it was acquired.

McKinney's Top Industries

1. Defense and Aerospace Electronics

Raytheon has been McKinney's largest private employer for years. When it announced a new 200,000 square foot advanced manufacturing facility at its McKinney campus in August 2019, it said it already had more than 3,000 employees in McKinney and would add 500 high tech jobs. The work there centers on intelligence, surveillance, and reconnaissance systems, including electro optical products and high energy lasers. For housing, Raytheon is a big reason engineers and technicians buy in McKinney rather than commuting from farther south.

2. Electrical Manufacturing

Encore Wire built its business on a single McKinney campus, and Italian cable maker Prysmian completed its acquisition of the company on July 2, 2024, paying $290 per share in cash. Prysmian has kept expanding here. In April 2026 it announced a new 340,800 square foot copper building wire plant and an expanded service center of about one million square feet, with roughly 1,750 people working on the McKinney campus. Demand for electrical wire tracks data centers, power grid upgrades, and construction, all of which are busy in Texas.

3. Insurance and Financial Services

Globe Life, formerly Torchmark, has been headquartered in McKinney for more than 30 years. In February 2025 it announced it would move its headquarters within McKinney to 7677 Henneman Way, a six story, 200,000 square foot building built in 2022 as Independent Bank's headquarters, plus about 8 acres of land for future growth. Globe Life said it would keep more than 2,000 jobs in McKinney.

Independent Financial was McKinney based until SouthState completed its roughly $2 billion acquisition on January 1, 2025. The MEDC also lists Service First Mortgage and Merrill Lynch Wealth Management among the city's notable employers.

4. Healthcare

McKinney has three hospitals. As of Community Impact's 2022 health care guide, Medical City McKinney had 281 beds, Baylor Scott & White Medical Center McKinney had 192, and Methodist McKinney Hospital had 23. Collin College's McKinney campus on University Dr is home to the college's health sciences and nursing programs, which helps keep a local pipeline of nurses and technicians. Health care payments company Cotiviti also has a regional office in McKinney; it had 150 employees there in 2017 and planned to add 120 under an MEDC incentive agreement.

5. Education and Government

McKinney is the Collin County seat, so county government is a major employer, along with McKinney ISD, the City of McKinney, and Collin College. Collin College's McKinney campus opened in 1986. These jobs don't swing much with the economy, which adds stability to the local housing market.

6. Logistics, Distribution, and Light Industrial

The MEDC's notable employer list includes Amazon, UPS, Performance Food Group, SRS Distribution, Dynacraft (a PACCAR company), Simpson Strong Tie, Blount Fine Foods, Watson & Chalin, and Traxxas. UPS opened a facility at 3000 Redbud Blvd in 2014 in part of the former Blockbuster distribution building, with about 320 full and part time jobs planned at the time.

7. Technology and Startups

The MEDC runs an Innovation Fund for technology companies and startups, which it credited with adding more than 615 jobs in McKinney between January 2020 and May 2023. Recent examples MEDC has highlighted include Cytracom, which moved its headquarters to McKinney in 2024, and South Korean health technology company Edenlux, which announced in early 2026 that it would locate its U.S. operations in McKinney with an MEDC grant.

8. Aviation

McKinney National Airport becomes a commercial airport in November 2026. Avelo Airlines is scheduled to start flights between November 11 and 19, 2026 to Las Vegas and four Florida cities from a new 46,000 square foot terminal, and says it will base two aircraft at DTX and create more than 100 jobs. The MEDC has also bought 180 acres next to the airport to market for advanced manufacturing. I expect the airport area to be one of the city's main business growth zones over the next decade. See up and coming areas in McKinney.

The McKinney Economic Development Corporation

The MEDC was founded in 1993 and handles business recruitment, retention, and incentives for the city. Between 2018 and 2023, projects MEDC was involved in brought nearly $750 million in capital investment, supported by more than $30 million in incentives, according to figures presented to city leaders and reported by Community Impact in May 2023. The MEDC also co funded the airport expansion with the McKinney Community Development Corporation.

Its current list of notable employers includes Raytheon, Globe Life, Independent Financial, Encore Wire, Dynacraft, Amazon, LifePath Systems, Simpson Strong Tie, Blount Fine Foods, SRS Distribution, Watson & Chalin, Cotiviti, Service First Mortgage, Waste Connections, UPS, Performance Food Group, Traxxas, Emerson, Oncor, Kimley Horn, and a few dozen smaller firms. That list doesn't include headcounts.

Business Growth: What's Being Built

• Nonresidential construction: 76 permits worth $485,352,139 in 2024, per the City's Annual Development Report.
• Prysmian / Encore Wire expansion: new 340,800 square foot plant and a roughly one million square foot service center, announced April 2026.
• Globe Life headquarters move: 200,000 square foot building on Henneman Way plus land for expansion (2025).
• Airport terminal: four gates at opening, expandable to six, with service starting November 2026.
• US 380 corridor: the City's 2024 report noted significant nonresidential development along US 380, ahead of TxDOT's bypass project.
• Downtown: the City is exploring office redevelopment of the former City Hall site with MEDC after the old buildings were slated for demolition in early 2026.

What McKinney's Economy Means If You're Buying a Home

A few practical takeaways from how I advise buyers:

• Local jobs support resale. Raytheon, Encore Wire, Globe Life, the hospitals, and county government give McKinney a base of buyers who want to live close to work. That's a different story from a pure commuter suburb.
• Your commute depends on which side of town you work on. McKinney's average commute is 27.8 minutes. If you work at an employer in McKinney, east or north side neighborhoods can make sense. If you work in Plano or Frisco, west McKinney near SH 121 is usually the better fit. See McKinney vs Plano and McKinney vs Frisco.
• Growth areas follow infrastructure. The airport, US 380, and Spur 399 are where the next round of commercial development is aimed. Homes near those projects can benefit from new amenities, but expect construction first.
• Ask about relocation benefits. If your new employer offers relocation help, I can coordinate the purchase and the mortgage so the timelines line up.

Browse McKinney homes for sale, or see the cost of living in McKinney to budget a move.

Frequently Asked Questions

Who is the largest employer in McKinney, TX?

Raytheon has been the largest private employer for years. It said it had more than 3,000 McKinney employees in 2019, and the City ranked it first in its 2015 report with 3,600.

Is Globe Life headquartered in McKinney?

Yes. Globe Life has been based in McKinney for more than 30 years and announced in February 2025 that it would move to a 200,000 square foot building at 7677 Henneman Way, keeping more than 2,000 jobs in the city.

Who owns Encore Wire now?

Prysmian, which completed its acquisition on July 2, 2024. Encore Wire still operates its McKinney campus, with about 1,750 employees as of April 2026.

Is Independent Bank still based in McKinney?

Independent Financial was acquired by SouthState, effective January 1, 2025. Its former headquarters building on Henneman Way was sold to Globe Life.

What industries drive McKinney's economy?

Defense electronics, electrical manufacturing, insurance and financial services, health care, education and government, logistics, and now aviation.

Does McKinney have a commercial airport?

Starting in November 2026, yes. Avelo Airlines is scheduled to launch five nonstop routes from McKinney National Airport (DTX) between November 11 and 19, 2026.

What is the median household income in McKinney?

$124,215, per the Census Bureau's 2020 to 2024 American Community Survey estimates.

Relocating to McKinney for Work?

If you've got an offer from a McKinney employer, or you're moving here and working in Plano, Frisco, or Allen, I can show you the neighborhoods that make sense for your commute and budget and handle both the home search and the loan. Reach out through the contact form on this site with your employer's location and your timeline. I also keep a detailed McKinney area overview on my main site.

Sources: U.S. Census QuickFacts, McKinney; City of McKinney 2024 Annual Development Report; City of McKinney 2015 Annual Development Report; McKinney EDC, Notable Employers; Community Impact, MEDC 30 years; Bisnow, McKinney EDC; Dallas Innovates, Raytheon; Globe Life news release; Prysmian, Encore Wire acquisition; Prysmian, McKinney plant and service center; Community Impact, Independent Financial; SouthState Bank (Wikipedia); McKinney ISD (Wikipedia); Community Impact, McKinney hospitals; Collin College McKinney Campus; Community Impact, Cotiviti; Trade and Industry Development, UPS; City of McKinney, Avelo at DTX; Community Impact, DTX terminal; Community Impact, former City Hall.