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ADOPTED | BUDGET

Economic Development

Who we are

The department strives to foster the growth and sustainability of the economic well‐being of North Richland Hills.
This is accomplished by attracting targeted businesses and employment opportunities, facilitating the success of
existing businesses, protecting property values, and revitalizing aging areas of the city. The department promotes
quality development, puts forward a pro‐active business image, and differentiates the city as a progressive and
diversified community.

What do we do

1 Retain and expand targeted business segments 5 Promote city, business and project success
2 Recruit and attract targeted business segments 6 Provide site and building feasibility analysis
3 Revitalize and redevelop targeted areas 7 Provide pre‐development guidance
4 Connect business, developers, investors 8 Protect and grow local business tax base

Council Priorities

x Quality Community Development & Revitalization Sense of Community
Efficient & Effective Transportation System x Targeted Economic Development
Safety and Security x Local & Regional Leadership
Financial Stability x Efficient & Effective Delivery of City Services
x Positive City Image

FY 2021‐22 Top Accomplishments Goals & Measures

 After a highly competitive national review, the City was awarded $4.2 million to fund the reconstruction of Iron
Horse East, the largest amount awarded by the Economic Development Administration (EDA) in Texas. The
EDA, a federal agency, was responsible for granting $1.5 billion of CARES Act funding toward community
economic development programs to help prevent, prepare for, and respond to future disasters.

 Out of a pool of nearly 500 entries, the International Economic Development Council (IEDC) recognized the
City’s Façade & Sign matching grant program. Across 13 years and 27 business participants, almost $300,000 in
matching grants funds facilitated $4.8 million in private investment, a 16.5 to 1 return.

 One of 50 Texas communities to receive Economic Excellence Recognition from the Texas Economic
Development Council. The 12th year in a row for North Richland Hills.

 Facilitated 53 retail/restaurant leases representing 328,511 square feet, lowering the vacancy rate by 2%,
down to 11%.

 Facilitated 60 office leases representing 175,794 square feet of office space, lowering the vacancy rate by 1%,
to 10%. Of the leases, 4 represent 500 professional jobs.

238 NRH | TEXAS