Page 202 - Hurst FY19 Approved Budget

ECONOMIC DEVELOPMENT

110 GENERAL FUND
0233 ECONOMIC DEVELOPMENT

MISSION STATEMENT

The Economic Development Division uses innovative and business
friendly strategies to attract, retain and promote existing and new

commercial development within the City in an effort to ensure Hurst
remains a vibrant community.

DIVISION DESCRIPTION

The Economic Development Division is responsible for attracting new businesses to
the City, working with existing retailers and landlords in an effort to retain existing
businesses while representing the City with different community organizations and
business support groups to enhance economic vitality.

PRIOR YEAR RESULTS & ACCOMPLISHMENTS

• Worked with a Planning Consultant, P & Z, City Council and Hurst stakeholders
and created a Sustainability Plan that will help guide the enhancement of the
City with special focus on catalytic areas
• 125 new businesses occupying 286,750 square feet opened in Hurst
• 6 million square feet of the 6.3 million square feet in total retail square footage
of inventory is now occupied or 95.1%
• North East Mall and The Shops both ended the year at near 100% leased with
10 new store openings
• Nine new restaurants opened spread evenly throughout north and south
Hurst
• The “50 yard line” continued its successful redevelopment with the opening of
Corner Bakery restaurant
• Three new residential projects containing 57 lots began construction leading
to a value of new residential construction for the year of $3.9M
• Over 600 new families moved to Hurst purchasing existing single family
residences, a +11% increase over the year before with an average sales price of

185