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City of Mansfield Annual Budget and Service Program Fiscal Year 2025-2026 Table of Contents

STRATEGIC PRIORITY:

DEVELOP A STRONG ECONOMY

We’re committed to continuing to develop a strong economy by prioritizing the implementation of
the Comprehensive Economic Development Policy.
The Policy focuses on encouraging local entrepreneurship through a Mansfield-First approach,
recruiting STEM career fields to the City.
Finally, City Council will stress the importance of creating unique Mansfield Experiences through
encouraging development of destination retail, restaurant and entertainment venues..

Guiding Principles: Healthy Economy, Remarkable Experiences

Goals:
1. Create and implement a Comprehensive Economic Development Policy.
Focus on economic activity in the City with the objectives of increasing recognition of
Mansfield’s brand, elevating commercial development, and becoming a hub of innovation.

Market-Driven Updates - based on the capital markets and analyzed financial gaps, updates to
the policy will be considered by the MEDC Board and City Council every two years.

Financial Sustainability Study - a thorough review of all Community Services programs and
services; the department is creating a matrix of cost-recovery goals and tracking analytics to
provide the most efficient use of resources based on the priorities and outcomes.

Revenue Enhancement Plan - review program rates, cost recovery efforts, and possible
opportunities for improvement and/or expansion of revenue-generating offerings to maximize
the department's contribution to fiscal operations.

2. Establish a Mansfield-First Policy that encourages local entrepreneurship.
Spotlight on Mansfield - City Council and City Staff recognize that a priority for economic
development project should be to acknowledge the innovation, hard work, and commitment to
the local community that local developers and business owners demonstrate. Businesses that
"shine a spotlight" on Mansfield will receive priority consideration for the establishment and
expansion of their projects.

3. Recruit STEM related career fields to Mansfield.
Create an innovation corridor for companies with cutting-edge technology; partner with
hospitals and universities to bring in high caliber job opportunities.
Work to develop strategic partnerships with education, non-profits, governmental, and private
industries. Regularly meet and develop strong relationships to facilitate an ecosystem of
cooperation and connection among these groups.
4. Create unique experiences through destination retail, restaurant, and entertainment.
High-Five - As part of the entertainment district within the Staybolt District, the first project to
be developed will be High Five Entertainment. This venue is approximately 45,000 square feet
and will host bowling, laser tag, arcades, bars, restaurants, and other family entertainment
across a two-story campus. This project will be located adjacent to a proposed hotel and
conference center and thus will be constructed to incorporate future performance venue floors
above its second story.

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