Jobs & Economy in McKinney
McKinney's economy employed about 111,000 people as of 2024 data, up 5% from 105,000 the year before, per Data USA -- real, recent growth rather than a stalled labor market. The city's top industries are Professional, Scientific & Technical Services; Health Care & Social Assistance; and Finance & Insurance, with defense/advanced manufacturing (anchored by Raytheon Intelligence & Space) a genuine, distinguishing growth driver relative to more purely corporate-office DFW suburbs.
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Learn moreEmployment Growth and Top Industries
McKinney's economy employed roughly 111,000 people in 2024, up from about 105,000 in 2023 -- a real 5% year-over-year growth rate, per Data USA. The largest industries by employment were Professional, Scientific & Technical Services (14,655 people), Health Care & Social Assistance (13,277 people), and Finance & Insurance (11,929 people). The highest-paying industries were Information ($128,900 average), Manufacturing ($108,970), and Professional, Scientific & Technical Services ($106,682) -- a genuinely diversified mix rather than a single dominant sector.
Named Employers: Defense, Manufacturing, Finance, and Insurance
McKinney's most notable named employers include Raytheon Intelligence & Space (part of RTX), Globe Life (an insurance company headquartered in the city), Independent Financial (a bank holding company headquartered in McKinney), Encore Wire (a wire-and-cable manufacturer acquired by Italy-based Prysmian, which is expanding its McKinney footprint with an estimated 120 new manufacturing jobs), Dynacraft (a PACCAR subsidiary), Amazon (fulfillment operations), LifePath Systems, Simpson Strong-Tie, and Blount Fine Foods. Texas Instruments also maintains a significant manufacturing presence in the city.
Defense and Advanced Manufacturing as a Distinguishing Growth Driver
Defense and advanced manufacturing are cited as major regional employment drivers, with Raytheon/RTX having previously announced a major McKinney expansion tied to thousands of high-tech jobs and manufacturing investment, and Prysmian's post-acquisition expansion of the former Encore Wire operations adding further manufacturing jobs. This is a genuinely distinguishing feature relative to more purely corporate-headquarters-driven DFW suburbs like Plano (Toyota, JPMorgan Chase, Liberty Mutual) -- McKinney's growth is more anchored in defense-sector and advanced-manufacturing investment specifically.
A Fast-Growing Labor Market in a Fast-Growing City
McKinney's 5% year-over-year employment growth (2023 to 2024) tracks the city's broader population growth (11,000+ new residents in the year ending July 2024, per Census Bureau estimates) -- a labor market expanding roughly in step with the population it needs to employ, rather than one lagging behind rapid residential growth. This project did not independently source a McKinney-specific unemployment rate this session (distinct from the broader Collin County or DFW-metro figure); confirm current figures directly from the Texas Workforce Commission for the most precise local read.
Key takeaways
- McKinney's economy employed about 111,000 people in 2024, up 5% from 105,000 in 2023 (Data USA) -- real, recent job growth, not a stalled labor market.
- Top industries by employment: Professional, Scientific & Technical Services (14,655), Health Care & Social Assistance (13,277), Finance & Insurance (11,929); highest-paying: Information ($128,900), Manufacturing ($108,970), Professional/Sci/Tech ($106,682).
- Named major employers include Raytheon Intelligence & Space (RTX), Globe Life, Independent Financial, Encore Wire (now Prysmian, expanding by ~120 jobs), Dynacraft (PACCAR), Amazon, and Texas Instruments.
- Defense and advanced manufacturing are a genuine, distinguishing growth driver for McKinney's economy, distinct from the more purely corporate-headquarters character of neighboring Plano.
- A McKinney-specific unemployment rate wasn't independently sourced this session -- confirm current figures directly from the Texas Workforce Commission.
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