Page 137 - CityofKellerFY25Budget

ECONOMIC DEVELOPMENT DEPARTMENT

DEPARTMENT DESCRIPTION:
The Economic Development Department fosters sustainable economic growth opportunities for job creation and revenue
enhancement through comprehensive business expansion, attraction, promotion and retention programs and services. The
ultimate goal is to increase the commercial property tax base, maintain residents’ property value and improve quality of life for all
Keller residents. The Department will utilize the Economic Development Strategic Plan to assist the City of Keller in the following
areas:
• Focus on attracting top-tier businesses
• Work to ensure the strength and sustainability of existing businesses
• Expand the commercial property tax base
• Enhance retail opportunities that will assist in the increase of the local sales and use tax
• Create job opportunities through the recruitment of large employers
• Encourage patronage from those living outside of Keller

DEPARTMENT OBJECTIVES:
1. Attract external businesses to Keller in order to create a robust local economy and ensure high quality of life for local
residents.
2. Collaborate with community partners to create a positive business environment and support the existing local economy.
3. Provide existing local businesses with the tools and resources necessary to grow within Keller.
4. Advance the success of the local economy through promotion of the City of Keller and its local businesses.

DEPARTMENT GOALS:
1. Maintain commercial property database and relevant site selection data to aid recruitment of key retail and restaurant entities
to Keller.
2. Procure reservations for the Retail Live Austin, NTCAR, TEDC and IEDC annual events.
3. Establish a new BRE Program utilizing community partnerships.
4. Continue to implement and develop the Keep It In Keller shop local program.
5. Pursue CEcD Testing for Accreditation for Director.
6. Pursue Accredited Economic Development Organization (AEDO) status.

SERVICE LEVEL ANALYSIS:
FY 2024-25
FY 2022-23 FY 2023-24 FY 2023-24 Adopted
Performance Indicators Actual Budget YE Proj. Budget
Net New Businesses 34 20 30 30
Recruited Businesses Opened 2 3 1 3
Retail Occupancy Average Rate** 95% 96% 96% 96%
Office Occupancy Average Rate** 92% 90% 92% 91%
Sales Tax Revenue $18,871,336 $ 18,642,985 $ 18,763,312 $ 18,763,312
** As indicated by third party consultant

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