Page 179 - NRH FY20 Approved Budget

DEPARTMENT / DIVISION FUND
CITY MANAGER – ADMINISTRATION GENERAL & UTILITY
PROGRAM NAME
TARGETED ECONOMIC DEVELOPMENT
DESCRIPTION / MISSION
During the biannual Goals Setting Work Session, the City Council establishes goals for the City of North Richland Hills. Targeted
Economic Development is one of the nine goals established by the Council. Targeted Economic Development focuses the City’s
economic development incentives on specific geographic areas and business sectors to enhance the impact.

GOALS
• To attract the types of businesses we want to our community.
• To promote diversity in economic development.
• To encourage developers to maximize use of existing real estate and locations (e.g. Loop 820, Blvd. 26, Cotton Belt, existing
buildings and real estate).
• To have proactive strategic land acquisition and management.

OBJECTIVES
• Research market to determine business opportunities.
• Work with businesses to assist in finding locations within our City.
• Maintain inventory of available, non residential tracts and vacant buildings.
• Continue BIG program.
• Manage property acquisitions, dispositions and incentives that increase taxable revenue.
2017-18 2018-19 2019-20
PERFORMANCE MEASURES ACTUAL REVISED ESTIMATED
Total # of brick n mortar businesses 1,377 1,407 1,432

# Of new brick n mortar businesses 80 83 75
# Of closed brick n mortar businesses 48 53 50
Net business count +32 +30 +25

Total # of BIG program participants 22 24 26
Total taxable sales $1,027,998,100 $ 1,039,588,700 $ 1,060,380,474

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