City of Dallas Economic Development Corporation (TX) – Strategic and Operations Plan

Challenge

The competition for investment, jobs, and talent in the Dallas-Fort Worth Metroplex and the larger North Texas Region is fierce. Many surrounding communities have well-funded sales tax corporations or other economic development entities that allow them to compete at the highest levels. Within the City of Dallas, the Office of Economic Development (OED) continues to make a significant impact by growing the taxable value of developable properties in Southern Dallas and by partnering with other organizations for marketing and outreach. The Dallas Economic Development Corporation (DEDC) adds value to the OED’s work by marketing the city, focusing on business development and job creation, serving as a public developer, and coordinating with the City while remaining independent of its bureaucracy.

Response

Creation of a stand-alone economic development organization and a policy framework for accomplishing its objectives was the highest stakeholder priority identified during the TIP Strategies-led review of the City’s 2019 economic development strategic plan. TIP’s work affirmed the need to create a new entity and promote greater equity—especially for Southern Dallas and other areas of historic disinvestment. Following the stakeholder review, TIP provided advisory services in connection with the implementation of the entity, leading to the DEDC’s creation in 2022. During this timeframe, the City Council also approved an Economic Development Policy and an Economic Development Incentive Policy in 2023. Following the DEDC’s launch, TIP prepared the Strategic and Operations Plan, published in November 2024. The plan’s operational recommendations speak to the DEDC’s organizational structure, core functions, and programmatic goals. When implemented, its strategic initiatives will help improve the city’s competitive position and create economic opportunity for its residents. The business development and marketing initiative will position the DEDC to improve business retention and expansion (BRE) for entities already located in the city while also recruiting new companies to Dallas. Launching a concerted organizational sustainability initiative will help the DEDC increase its impact, providing additional resources to take on new projects and initiatives. And, finally, dedicating resources to a real estate and redevelopment initiative is essential to the DEDC providing community benefits to Dallas as a public developer.