City of Irving, Texas – Economic Development Strategic Plan Update

Challenge

Incorporated in 1914 in what is now the heart of the Dallas metroplex, Irving, Texas, has experienced remarkable growth over the last five decades. From Las Colinas, which pioneered the master-planned community model, to the bustling Dallas Fort Worth International Airport, Irving’s forward-thinking development and successful attraction of global companies have earned it the nickname “Headquarters of Headquarters.” However, this reputation does not come without challenges. Competition from neighboring cities and other communities seeking jobs and investment poses potential risk to business and talent retention. To preserve its central role in the North Texas economy and enhance quality of life for residents throughout the city, Irving sought a new vision for the future.

Response

To leverage its strengths and build on past efforts, most recently its 2017 strategic plan, the City of Irving engaged TIP Strategies to prepare a five-year economic development strategic plan. First, TIP sought stakeholder insights by hearing from over 150 participants across more than 25 roundtable sessions representing a variety of institutions, including educators; young professionals; and employers, ranging from small businesses to large international firms. To ensure a collaborative planning process, the TIP team also facilitated biweekly meetings with the City, the Greater Irving-Las Colinas Chamber of Commerce, and the Irving Convention and Visitors Bureau. In addition, TIP conducted a quantitative analysis of Irving’s competitive position relative to benchmark geographies, which was delivered as an interactive data visualization, the Irving Quantitative and Geospatial Analysis. This in-depth analysis featured an assessment of Irving’s target industries (including existing companies, workforce, and infrastructure) and an evaluation of 12 development opportunity sites. The resulting plan provides strategies to realize Irving’s economic future through bold, transformative projects that center innovation, reinvention, and placemaking. It also offers resources for implementation, including a staffing and funding plan, data source recommendations, a detailed list of performance metrics, and a tracking matrix to support Irving’s future success.