Kaufman Economic Development Corporation (TX) – Economic Development Master Plan

Challenge

Despite being part of one of the nation’s fastest-growing metropolitan areas, Kaufman, Texas, was falling behind its Dallas-area peers in 2016. An analysis of trends revealed little population growth, a declining supply of housing, and lagging incomes and home values. Commuting patterns suggested the city was neither a stand-out employment center or a strong residential choice for workers commuting into Dallas. In light of these challenges, the Kaufman Economic Development Corporation (KEDC) which had historically focused on traditional industry attraction and business park development, recognized the need to reposition the community within the Dallas-Fort Worth metroplex.

Response

To set a strategic outlook for the organization and to improve Kaufman’s economic standing, the KEDC hired TIP Strategies to prepare an economic development strategy. TIP provided a common framework for recommendations through a demographic and economic assessment of Kaufman. As part of the assessment, TIP identified five target industries to refocus the efforts of the KEDC: (1) advanced manufacturing; (2) healthcare; (3) professional services; (4) retail, restaurants, and hotels; and (5) housing development and construction. Findings from the data analysis were supplemented by conversations with dozens of community and business leaders to gain qualitative insights into the challenges and opportunities impacting the city’s future growth potential. The resulting plan outlined eight goals ranging from infrastructure investment and workforce development to housing development and downtown revitalization, many of which were new responsibilities for the KEDC. Shortly after the plan’s completion, new, name-brand retail and additional mixed-use development, including housing, was recruited to one of the city’s priority sites, Kings Fort. Five years into the plan’s implementation, the KEDC and its partners have placed the community on a path of accelerated growth, with Kaufman at the heart of the nation’s fastest growing county in 2023.