This article was produced by Fort Worth Economic Development.
As one of the fastest-growing cities in the country, Fort Worth is busy improving its downtown density through several ongoing and planned strategic projects. And while the city has always been driven to develop and invest in the city center, stakeholders are now making a concerted effort to ensure that all parts of town will benefit from Fort Worth’s growth.
Enacting a New Economic Development Strategy
The recently published economic plan for Fort Worth calls for, among other things, equitable real estate development and targeted development in key areas of the city. Roundtable participants were able to identify both east and southeast Fort Worth as the places most in need of targeted economic development.
The plan sets a goal of $250 million in capital investment in these areas by 2026. It calls for advancing catalyst developments in these areas that will spark that additional development and investment over time, anchored by major employers, mixed-use developments, and neighborhood amenities. The approach outlined in the updated plan recommends advancing public-private development projects at the Evans & Rosedale urban village and surrounding areas as a first step.
“Corporate relocations and large companies are important for Fort Worth’s economy, but we also recognize that in order to create an environment where these businesses can thrive, we have to also focus on cultivating our city’s existing businesses, supporting local entrepreneurship and innovation, and providing opportunities for all of our residents,” says Robert Sturns, economic development director for the City of Fort Worth.
Reclaiming Fort Worth’s Riverfront
Another major project that Fort Worth has in the works is Panther Island, an ambitious development with huge potential to attract large corporate relocations in the near future.
Brought about by the need for improved flood control along the Trinity River, the project will ultimately create a total of 800 acres of new urban waterfront between downtown and the Fort Worth Stockyards once completed. This location will provide an environment that’s primed for development and is entirely unique in the U.S.
Plans call for a high-density, mixed-use, urban waterfront district, bringing additional interest and investment to the central city. 10,000 housing units and three million square feet of commercial, retail, and educational space will create a host of new options to live, work, shop, play, and learn.
For many years, North Texas has welcomed an influx of big-name companies from California and elsewhere that made the decision to relocate their headquarters to a more favorable business environment. In light of this opportunity, the Panther Island project is primed to bring even more leading innovators and top-tier companies to Fort Worth while driving additional development–and investment–in the region.
Building on a Legacy
Much has changed since a military outpost was established on the edge of the frontier in 1849, but today’s Fort Worth maintains its pioneering spirit as it seeks to grow, innovate, and build upon a long legacy of commerce and cooperation.
As large-scale projects like Panther Island and others begin to take shape, one imagines that while skylines may change, the heart of the city—and its residents—won’t be changing anytime soon.
To learn more about economic development in Fort Worth, check out itbeginsinfortworth.com.