Fort Worth Considers Beefing Up Economic Development Funding

Arlington TX

18 February, 2022

6:44 PM

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By Seth Bodine and Bob Francis, Fort Worth Report February 17, 2022 The city of Fort Worth wants to attract companies that could bring more jobs to the area, but first it needs to become more competitive with the amount of funds it dedicates to economic development. Fort Worth has the least amount of funds dedicated to attracting businesses compared to other cities in the area such as Arlington, Irving and Dallas, according to a report issued to City Council on Feb. 15. Now, the council will consider a plan to create additional funds for economic development in order to be more competitive. The plan under consideration calls for the city to dedicate money from expiring Tax Increment Financing Districts, a portion of money dedicated to a certain area to improve infrastructure of an area, for economic development under the proposal. Robert Sturns, the economic development director for the city of Fort Worth, said one of the priorities is to create "deal closing money" to financially lure businesses to the city. To read the full article, click here. Fort Worth Report is a nonpartisan, nonprofit news organization that produces factual, in-depth journalism about city and county government, schools, healthcare, business, and arts and culture in Tarrant County. Always free to read; subscribe to newsletters, read coverage or support our newsroom at fortworthreport.org.