53.4 F
Fort Worth
Tuesday, September 29, 2020
- Advertisements -
Government Council Report: Update on Economic Development Strategic Plan

Council Report: Update on Economic Development Strategic Plan

Other News

Exxon’s oil slick

Exxon Mobil is slashing its capital spending budget for 2020 by 30% due to weak demand caused by the COVID-19 pandemic and a market...

Folk music’s Mark Twain: 7 Essential tracks from John Prine,

NEW YORK (AP) — Some people, the songs just come out of them. For nearly half a century, they tumbled out of John Prine...

Tarrant County records another COVID-19 death

Tarrant County Public Health (TCPH) on Wednesday, April 8 reported that a resident of Euless has died as the result of the COVID-19 virus....

Tradition stymied: A year unlike any since WWII for Augusta

The Masters is so intertwined with Augusta, they added an extra day to spring break.You see, the first full week of April isn't just...

At Tuesday’s work session, the Fort Worth City Council received an 18-month progress update on the city’s Economic Development Strategic Plan.

In December 2017, the City of Fort Worth and TIP Strategies completed an Economic Development Strategic Plan with initiatives and actions organized around the themes of competitiveness, creativity, and community vitality. The plan’s vision, which is to compete successfully on the national and international stage for creative, high-growth

businesses and the talented individuals who fuel them, includes three goals and four specific outcomes:

The goals include establishing, Fort Worth’s competitive edge, becoming a hub for creative business, and ensuring community vitality. Outcomes include high wage job growth; a more sustainable tax base, driven less by residential property valuation and more by commercial and industrial investment; an economy that capitalizes on high-growth businesses and the creative individuals who fuel them; and a commitment to quality of place throughout the community.

“While there are still some opportunities to work on, the overall status is very positive,” Fort Worth Economic Development Director Robert Sturns said.

The report showed that Fort Worth had the third largest population growth in the United States in 2017-18 with an increase of 19,552. Only Phoenix (up 25,288) and San Antonio (up 20,824) had larger increases.

Other highlights included:

*Number of jobs created/retained in 2018: 1,068,300, up 3.6%.

*Retail sales up 9%.

*Commercial tax base up 9%.

*New office space up 1%.

*New industrial space up 4%.

*Private sector businesses up 1.6%.

*Median home sales, average cost $249,166, up 6%.

*Median home rentals/apartments, 2 bedrooms, average $1,150, up 0.9%.

*Addition of 10 Fortune 5000 firms.

“We have been encouraged by how the plan has been embraced by the larger business community and the numerous partners that have been engaged in the process,” Sturns said. “As we continue to implement the strategies outlined in the plan, I think the progress we have made to date indicates that we are moving the community forward in a positive way.”

- Advertisements -
- Advertisements -

Latest News

Texas sheriff indicted after probe into Black man’s death

By PAUL J. WEBER Associated PressAUSTIN, Texas (AP) — A Texas sheriff has been indicted on charges of destroying or concealing video...

Purging water system of brain-eating microbe to take 60 days

By JOHN L. MONE Associated PressLAKE JACKSON, Texas (AP) — A Houston-area official said Monday it will take 60 days to ensure...

Texas grand jury: No action against killer of church shooter

FORT WORTH, Texas (AP) — A grand jury in Texas decided Monday to take no action against a man who fatally shot...

Trump’s tax revelation could tarnish image that fueled rise

By JILL COLVIN Associated PressWASHINGTON (AP) — The bombshell revelations that President Donald Trump paid just $750 in federal income taxes the...

Race for Texas House majority has kept the contest for speaker quiet

By Cassandra Pollock, The Texas Tribune Sept. 25, 2020 "Race for Texas House majority...