Page 58 - ArlingtonFY24AdoptedBudget

Business Plan

Invest in Our Economy

Goal 1: Enhance Economic Impact Through Development and Redevelopment Efforts,
Partnerships, and Investment Opportunities
Objective 2: Build a Strong and Diverse Business Community
Project Performance Measure(s) Department(s)
IOE Business Recruitment and • Recruitment Leads Economic Development
1.2.1 Retention • Leads to Prospects
Summary:
Approved Agreements Date
The Office of Economic Development is participating in
recruitment efforts related to the City’s identified targeted
industry clusters. The adopted clusters are
1) Aerospace
2) Automotive Products Targeted
3) Business and Professional Services Industry Aerospace Automotive Products Medical Devices Industrial Manufacturing Business and Professional
4) Medical Devices Leads
5) Industrial Machinery and Manufacturing.

st
As outlined in the Economic Development Strategy, the 1 Quarter
nd
Office works to generate leads and recruit companies 2 Quarter
within these industry clusters, which will assist in reaching 3 Quarter
rd
one of the City’s primary economic development goals – 4 Quarter
th
competitive positioning, allowing the City to capture a
larger share of high-wage, high-impact growth.

As recruitment leads are generated and projects arise, they
will be identified and tracked on a hit list reported to the
City Management Office every month. The list will track
potential capital investment, jobs created and details
about each project in order of priority. Staff will continue
to develop knowledge of the business climate that may
lead to a compelling case for industry prospects to locate
in Arlington.

FY 2024 Adopted Budget and Business Plan 49 City of Arlington, Texas