Page 29 - Microsoft Word - FY 2020 Adopted Budget Document

Business Plan

The Office of Economic Development (OED) strives to support
the growth of Arlington’s existing businesses and attract new
opportunities that will contribute to the economic vitality of the City. The
ultimate goal of the OED is to foster opportunities that will increase the
City’s revenue, provide high-quality employment opportunities for
Arlington residents, and contribute to the overall prestige and future
growth of the City of Arlington.

The Economic Development Strategy, first implemented in 2015,
continues to guide the Office’s recruitment, retention, marketing and
outreach efforts. In FY 2019, the City had many economic development
successes that resulted in significant capital investment and recognition.

L3 Technologies unveiled plans for a newly expanded Pilot Training
Center providing world-leading simulation and instruction for both
military and commercial pilots. Turn 14 Distribution, an industry leader
in performance parts distribution, opened its third distribution center in
Arlington. Bell Helicopter unveiled an expanded Flight Research Center
that will house many of the company’s newest technology and
innovations including the Bell V-280 Valor and Autonomous Pod
Transport.

101 Center Apartments announced new businesses opening downtown
including Inclusion Coffee, Rita’s Italian Ice and Frost Bank. Medical
City Arlington broke ground on a $54 million expansion project that will add new offices for physicians, enhanced patient services
and covered parking spaces.

The City received several accolades in FY 2019 related to its economic
development efforts. The Dallas Business Journal named Park 20/360
as “Best Real Estate Deal” in the Industrial Developer Category. The
Dallas Business Journal also named the Office of Economic
Development as the #3 Top Economic Development Agency in the DFW
with $455 Million in “Value of Deals Done” in 2017. WalletHub ranked
Arlington as the No. 18 Hardest-Working Cities in the U.S.

The Entertainment District remained in the spotlight with Globe Life Park
announcing it will be the new home to XFL Franchise in 2020. The Great
Southwest Industrial District (GSW) remained a location of interest for businesses and ranked #3 in the “Top DFW Warehouse
Building Markets” with 4.8 million square-feet of new construction in the first quarter of 2019. In celebration of National Small
Business Week, the City offered nine small business workshops throughout the week, kicking it off with a tour of the new George
W. Hawkes Downtown Library in May.

With the recent capital investments, the booming job market, and the exponential growth of UTA, FY 2020 will bring continued
focus on the target industry segments that represent prime opportunities for Arlington – aerospace, automotive, professional
and business services, medical devices, and industrial machinery/manufacturing.

2020 Adopted Budget and Business Plan 16 City of Arlington, Texas