city, Collin and Denton counties, northern Texas, U.S., located about 16 miles (26 km) northeast of Dallas. It is situated in a region of blackland prairie and was first settled (1845–46) by a group called Peters' Colony (named for William S. Peters, who had led investors in gaining land grants from the Republic of Texas in the early 1840s). The community was granted a post office in 1851; several names were proposed, and ultimately Plano—which a leading citizen understood to be the Spanish word meaning “plain,” an apt description of the terrain—was selected. The railroad reached Plano in 1872, and, although the town was almost destroyed by fire in 1881, it continued to develop as a small agricultural centre in the midst of a cotton-producing and cattle-raising area. Plano's rapid population growth began in the 1960s, when the population was less than 4,000, a result of the expansion of the Dallas–Fort Worth area. Plano is a financial and commercial centre, and its manufactures include compact discs, printed materials, metals, satellite communication equipment, and bakery equipment. Plano is the headquarters of Frito-Lay, a division of Pepsico (PepsiCo, Inc.). Heritage Farmstead Museum occupies a former sheep ranch. Plano, considered the “Balloon Capital of Texas,” hosts a popular hot-air balloon festival each September. Inc. 1873. Pop. (1990) 128,713; (2000) 222,030.