Page 166 - Watauga FY21 Budget

SPECIAL REVENUE FUND

DEPARTMENT: ECONOMIC DEVELOPMENT
DIVISION / ACTIVITY: ECONOMIC DEVELOPMENT CORPORATION – FUND 04
LOCATION: HOURS OF OPERATION:
7105 Whitley Road Monday – Friday 8:00 A.M. – 5:00 P.M.
Watauga, Texas 76148
Phone Number: 817-514-5800
MISSION / PROGRAMS / SERVICES:

Economic Development functions to implement a program of activities that works to improve Watauga’s
well-being and quality of life. Emphasis is placed on improving the business climate through specific
efforts by way of the following projects and activities: new development, redevelopment, workforce
development, business retention and expansion, and small business development.

FY2019-2020 HIGHLIGHTS / ACHIEVEMENTS:

x Completed a Five Year Strategy Plan
x Participated in the update to the Comprehensive Plan and Future Land Use Plan to add the
RTMU zoning designation
x Held monthly Board Meetings for the WEDC
x Partnered with the City to host the Annual State of the City Address
x Executed a contract with Retail Coach to enhance new business recruitment
x Participated in monthly regional economic development meetings
x Participated in the Red River International Council of Shopping Centers Conference
x Completed the transfer of the Brooks Property to the WEDC from the Brooks family
x Created a new business recognition program
x Facilitated the hiring of an attorney for the WEDC
x Completed Business Retention training at Georgia Tech University
x Approved the Splash pad project
x Approved an agreement with the City for personnel services performed by City staff on behalf of
the WEDC
x Developed the Shop Local, Play Local, and Dine Local campaign for the WEDC
x Approved a poster sign project to help promote local business
FY2020-2021 GOALS/ OBJECTIVES:

x Implement the Business Retention & Expansion Program
x Provide non-financial assistance to local businesses as part of the COVID-19 recovery
x Update the Five Year Strategic Plan for the WEDC
x Continue participation in the Annual State of the City Address
x Continue economic development efforts to attract new business and redevelopment
x Create a separate website for the WEDC
x Attend the International Council of Shopping Centers Conference
x Continue to support the Director of the WEDC to complete the Economic Developer Certification
x Develop a business incentive program

MAJOR BUDGETARY ISSUES AND OPERATIONAL TRENDS:

As the City begins to recover from the COVID-19 crisis, the WEDC will need to partner with the City on
supporting local businesses through recovery efforts.

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