Page 585 - FortWorthFY23AdoptedBudget

City Profile

Travel + Leisure magazine. The Fort Worth Herd’s twice-daily cattle drive is a bucket-list item for anyone visiting
Texas. The new 14,000-seat Dickies Arena is home to concerts, sports events and equestrian competition,
including the three-week Fort Worth Stock Show & Rodeo mid-January through early February.

Fort Worth offers one of the best hospitality packages in the country for meetings and conferences with the
downtown Fort Worth Convention Center surrounded by hotels, restaurants, shopping, galleries and nightlife,
including Sundance Square. Convention attendance and bookings for future events have rebounded strongly since
the pandemic. In Fiscal Year 2022, Visit Fort Worth booked 277 events for future years, exceeding 2019 sales.

Sports tourism is growing dramatically because of Dickies Arena and the hospitality industry efforts led by the Fort
Worth Sports Commission, a division of Visit Fort Worth. In Fiscal Year 2022, the Sports Commission hosted 67
events generating more than $105 million in economic impact – double the impact from sports five years ago.
Events included the PBR World Finals, NCAA Women’s Gymnastics Championships, and first and second rounds of
the NCAA Men’s Basketball Tournament.

Downtown Fort Worth, Inc. (DFWI) is a nonprofit organization dedicated to the promotion and redevelopment of
downtown Fort Worth. Coordinated efforts by DFWI have resulted in new public art, significant park
enhancements, special events, hospitality, housing, and other tourism serving improvements throughout
downtown Fort Worth. The city partnered with DFWI in 1986 to establish the State’s first Pubic Improvement
District and built on that success in 1995 with the creation of the Downtown Tax Increment Financing District to
provide public infrastructure to support private investment within downtown.

In addition to Downtown, Fort Worth’s city’s neighborhoods and districts offer unique local flavors and
experiences. The Cultural District includes five world-class museums, including the renowned Kimbell Art Museum
and the Modern Art Museum of Fort Worth, as well as the National Cowgirl Museum & Hall of Fame. The nearby
Botanic Garden and nationally ranked Fort Worth Zoo offer outdoor family attractions. The Near Southside’s
collection of independent restaurants and boutique shopping bring “Funkytown” to life.

The Will Rogers Memorial Center, located two miles west of downtown in the Cultural District, draws 2.4 million
visitors per year from all 50 U.S. states, Canada, Mexico, and many other countries, and plays host to some of the
top international equestrian competitions, which generate over $75 million in annual economic impact. This 135-
acre event facility was recently named the “Facility of the Year” by the League of Agricultural & Equine Centers
and one of the “8 Best Equestrian Facilities in America” by the Sports Planning Guide.

CITY DEVELOPMENTS

After reaching a total value of deals in Fort Worth of $569 million in 2021, Fort Worth continues to grow in all
aspects of development, spurred by population and employment growth as part of the Dallas-Fort Worth
Metropolitan Area. Notably, large clusters of commercial development focused on manufacturing, distribution,
and warehousing are being developed near state and interstate highways. In 2022, the corporate offices of RSI
North America and manufacturing operations of MP Materials were announced in the first quarter. RSI North
America is a company that manufactures modular truck bed canopies. In addition to advanced manufacturing,
functions within the proposed City of Fort Worth facility will include housing the North American headquarters
operations, as well as product design and prototyping. Following a multi-state site selection process, an existing
facility located at 1501 Joel East Road was identified for the 391,000 square foot manufacturing location. The
company will be required to expend a minimum of $2.5 million in total construction costs and will locate taxable

Page 585 of 623