Page 41 - Grapevine FY23 Adopted Budget (1)

The start of TEXRail commuter rail service has made a significant impact on tourism in the
downtown area. Ridership has been strong with over 250,000 riders at Grapevine Main Station since
service began in January 2019.

Continue to pursue economic development opportunities to bring new businesses to Grapevine
In December 2013, the City of Grapevine purchased approximately 185 acres of property in the
northeast portion of the city. It is the intention of the city to conduct a market/feasibility study and
develop a master plan for the property. The city has been successful in marketing the property to
developers, most notably to Kubota and Mercedes Benz, which both signed development deals in
2015.

Kubota Tractor Corporation unveiled its new North American Headquarters building in Grapevine
on April 12, 2017 with a ribbon cutting ceremony with Governor Greg Abbott, Masatoshi Kimata,
President and Representative Director of the Kubota Group, along with State and local officials. The
company's move to Texas from Torrance, California, is the most significant change it has undertaken
in its successful 45-year history in the U.S. Kubota's new Corporate Office facility was built with
sustainability features designed specifically to qualify for the LEED Gold certification.

In August 2017 the City proudly announced that THE TRADE GROUP® will be relocating their
global headquarters to Grapevine, Texas. The company has made the Inc. 5000 list of fastest
growing private companies for the past four years and is one of the nation’s leading trade show
exhibit and event companies. Known for its dedication to design excellence, the company provides
trade show exhibit design and fabrication services, state-of-the-art live event planning, event
execution and management.

In June 2018 the Grapevine City Council and Paycom are announced that Paycom Software, Inc.,
(“Paycom”) an award-winning U.S.-based human capital management technology provider, will be
relocating its Texas operations center to Grapevine, Texas. Oklahoma City-based Paycom now
occupies approximately 14 acres of the City of Grapevine property and is located across from
Kubota’s North American Headquarters.

In 2023, economic development will continue to be a priority with the opening of Chicken N Pickle,
Meow Wolf, Velvet Taco, and Son of a Butcher. Additionally, planning and development continue
for the Stand Rock resort and waterpark.

Maintain a healthy General Fund balance of at least 20% annually
The FY23 ending fund balance is projected at $20.9 million and meets the policy requirement of
20% of expenditures.

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