Page 100 - Fort Worth City Budget 2019

General Fund

Economic Development

DEPARTMENT SUMMARY

FY2017 FY2018 FY2018 FY2019 Change from Adopted
Final Adopted Adjusted Adopted Amount %
Use of Money & Property 149,867 147,337 147,337 151,105 3,768 2.56%
Other 16,608 150 150 450 300 200.00%
Transfer In 506,623 567,924 567,924 676,034 108,110 19.04%
$
Revenue $ 673,098 $ 715,411 $ 715,411 $ 827,589 112,178 15.68%

Salaries & Benefits 1,851,431 1,565,628 1,565,628 2,048,375 482,747 30.83%
Gen Operating & Maintenance 14,015,097 16,195,585 13,221,758 15,948,656 (246,929) -1.52%
Transfer Out & Other - 3,844,817 4,030,752 3,844,817 - 0.00%
$
Expenses $ 15,866,527 $ 21,606,030 $ 18,818,138 $ 21,841,848 235,818 1.09%

FTE 20.00 23.00 3.00 15.00%

AP 20.00 23.00 3.00 15.00%

DEPARTMENT PURPOSE AND GOALS
The Economic Development Department pursues high-wage job growth and a more sustainable tax base, driven
less by residential property valuation and more by commercial and industrial investment; and has a commitment
to "quality of place" throughout the community. This effort is to support the vision to compete successfully on
the national and international stage for creative, high-growth businesses and the talented individuals who fuel
them. The Economic Development Department accomplishes this through multiple divisions.

The Administration Division oversees the department’s budget, payroll, and human resources functions.

The Strategic Development and Revitalization team is responsible for business recruitment and retention, small
business support, entrepreneurship initiatives, international business activities, incentives, oversight of the tax
increment financing districts, targeted area redevelopment, and components units including the Local
Development Corporation. The team also managed the Economic Development Strategic Plan Initiative in FY2018,
including the implementation of the plan.

The Office of Business Diversity implements and tracks compliance with the city’s Business Diversity Enterprise
(BDE) Ordinance in order to create more diversified procurement and contracting opportunities. Additionally, this
division provides assistance to small and medium-sized businesses focused on increasing direct awards and city
procurement dollars to Minority Business Enterprise (MBE)/Small Business Enterprise (SBE) firms through training
and support programs.

MAJOR ACCOMPLISHMENTS
The Economic Development Department completed the first Economic Development Strategic Plan for the City of
Fort Worth. The Strategic Plan was accepted by the City Council on December 12, 2017. The Economic
Development team has been focused on the implementation of the over 200 strategies identified in the plan. In

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