Page 129 - City of Fort Worth Budget Book

General Fund Economic Development

The Revitalization, Small Business, and Workforce Division leads the “Full Strength Fort Worth” revitalization
strategy and place making efforts in and near our revitalization target areas and east side TIF districts by
providing programming for community development and capacity building, resources and access to capital, place
making strategies and incentives and fostering new, catalytic development on city-owned land. This division
focuses on growing and retaining small businesses in the City of Fort Worth through leading efforts to grow out
and leverage the many resources offered not only through our economic development toolkit but through targeted
programming that includes financial literacy, marketing strategies, and business plan development at the James
E. Guinn Entrepreneurial Campus. Additionally, this division works to identify and meet the needs of Fort Worth’s
workforce pipeline– both in the city’s target industries and its small businesses.

The Recruitment and Retention Division is responsible for the proactive recruitment of large-scale corporate
entities within our target sector industries, which will lead to an increase in higher-wage job creation and a higher
commercial tax base. This division works in conjunction with the newly established Fort Worth Economic
Development Partnership to actively promote and market the City of Fort Worth as one of the top destinations for
business development, retention, and expansion.

FY2025 DISCUSSION AND SIGNIFICANT CHANGES

The Recommended Budget:
• Increases by $91,479 in General Operations & Maintenance for previously approved costs associated
with risk management, administrative cost, and IT solutions allocation costs.
• Increases by $25,000 in General Operations & Maintenance to support statutory requirement for PID
funding from exempt jurisdictions (CH.372-014) Texas Local Government Code.
• Increases by $20,000 in General Operations & Maintenance to fund payments of City’s PID Assessments
that are state mandated (CH.372-014) Texas Local Government Code.

• Increases by $18,776 in Salary and Benefits due to pay band adjustment and budgeted vacancy savings
rate that produces salary savings.

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