Page 222 - City of Watauga FY22 Adopted Budget

SPECIAL REVENUE FUNDS

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:

To advance the economic strength of Watauga through business and community support programs,
public education and strategic partnerships.

FY2020-2021 HIGHLIGHTS / ACHIEVEMENTS:

• Implemented monthly business retention site visits
• Launched an online open portal business directory hosted by Bludot Technologies
• Hired a Media Specialist to assist businesses with promotion and advertising
• Conducted “Explore Watauga” for the 2020 Holiday Season as a Shop Local Campaign
• Conducted “Takeout Tuesday” in the Spring of 2020 to encourage support of local restaurants
during the pandemic
• Implemented Business Spotlight video series
• Implemented a business registration program
• Held strategic planning session to update the existing WEDC Strategic Plan and prepare for the
future
• Submitted a grant application for a restaurant incubator to the EDA in January 2021
• Implemented Shop Small initiatives (installed shop local park amenities and CEVMS signs)

FY2021-2022 GOALS/ OBJECTIVES:

• Incorporate performance metrics in the monthly financial report provided to the WEDC Board
• Develop an Incentive Policy for Board consideration
• Develop and implement a Small Business Development Program
• Develop a Business Retention Program
• Develop a Business Mentor Program
• Complete a Food Business Park area included in Capp Smith Park
• Implement the Advertising Program for local businesses
• Continue support of Shop Small Business programs
• Continue Business Spotlight video series
• Seek tourism development opportunities
• Continue New Business Attraction through Retail Coach contract
• Complete the development and launch of the WEDC website

MAJOR BUDGETARY ISSUES AND OPERATIONAL TRENDS:

In November 2020, the City placed a measure on the ballot requesting voters consider reallocating
funds dedicated to Street Maintenance to Economic Development (4B). The measures failed, thus
some of the programs, in support of local business, were required to be scaled back due to the
WEDC’s inability to fund without the additional revenue.

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