City of Fort Worth (TX)

City of Fort Worth (TX)

Economic Development Strategic Plan

Challenge:

Between 2002 and 2017, Fort Worth was one of the fastest-growing large cities in the US. The city had cultivated a unique identity and brand that combined rich cultural heritage with an economy driven by industry-leading employers. Fort Worth’s success, however, was achieved without a comprehensive, citywide approach for economic development. Without a focused business development effort, residential development dominated Fort Worth’s land use patterns. As a result, other communities in the Dallas-Fort Worth metro area were realizing high-profile business expansion projects that eluded Fort Worth.

Response:

The City of Fort Worth engaged TIP to create its first ever economic development strategic plan, aimed at enhancing the city’s status in the region and nation over the next five years and beyond. First, TIP analyzed the city’s economic competitiveness, workforce and industry opportunities, land use, real estate, fiscal landscape, and entrepreneurial ecosystem. Then, Fort Worth was benchmarked against regional, national, and international peers to evaluate its relative advantages. The resulting actionable strategies addressed how to channel future development into specific districts, generate higher income levels and capital investment, strengthen the local tax base, and support a more attractive environment for companies and skilled workers. With input from the business community and local stakeholders, the Economic Development Strategic Plan was positioned to purposefully guide the City’s economic development activities.

Submit a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.