Page 22 - CityofMansfieldFY24Budget
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Impact of Economy on Surrounding Area Cities
• City of Arlington - population growth based on the 2020 census of 7.9% since 2010. Major
developments include AT&T (Dallas Cowboys) Stadium, Globe Life Park, and the Arlington
Highlands retail center.
• City of Fort Worth - population growth of 24% since the 2010 census.
• Dallas/Fort Worth Region - the region’s estimated unemployment of approximately 3.3% due in part
to the impact of Covid-19 has improved compared to the average of 5.08% two years ago.
Impact of National and Global Economies
• The increasing cost of services and supplies/materials.
• The Federal Reserve monetary policy and rising interest rates.
• Labor supply and demand – lingering effects of Covid-19 on the workforce.
• Continued relocation of traditional population centers to the southwest region.
• The impact of national, regional, and local distribution interruptions due to supply chain disruptions.
Challenges
• Sustaining momentum.
• Strategic Long-Term Planning - an improving economy and expanding service demands.
• Funding and timing of infrastructure improvements.
• Staff retention and recruitment.
• Organizational development - quality workforce and quality services.
• Economic development – expanding retail and commercial opportunities.
• Providing operating capital funding and funding for new positions while balancing tax relief.
• Facilities are at max capacity.
Our Vision
“A vibrant city for people and businesses that value world
class experiences, culture, quality, and a second-to-none level
of community service in a hometown environment.”
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