Page 127 - CITY OF WATAUGA, TEXAS ANNUAL BUDGET PORTRAIT

Economic

Development

Mission Statement

To make Watauga the best place to do business today and in the future by generating equitable economic growth
opportunities, building strategic partnerships, and maximizing resources.

Department Overview

To advance the economic strength of Watauga through business and community support programs, public
education, and strategic partnerships. Economic Development provides emphasis on improving the business
climate through new development, redevelopment, workforce development, business retention and expansion,
and small business development.

To enhance the quality of life for residents and the sustainability of City businesses through the retention and
revitalization of existing businesses and neighborhoods, and promotion, recruitment, and coordination of new
commercial and residential development in the City.

Highlights/Achievements for FY2025
 Launched the Watauga Revitalization Action Plan (WRAP) Incentive Policy, designed to support local
businesses by assisting with revitalization improvements.
 Economic development activity was strong for the 2025 fiscal year and included multiple business
openings.
 Continued advertising efforts to include the Business Spotlight program and Shop Watauga social
media platform to promote Watauga businesses.
 Continued to maintain economic development-related databases to meet the needs of the development
community.

Goals/Objectives for FY2026

 Continue the WRAP program to support local business revitalization.
 Implement the Open Rewards program to support business activity in our City.
 Support the design and construction for the Food Business Park to support economic development
efforts.
 Continue to promote Watauga businesses and stimulate participation in shop local programs.
 Research and propose additional programs that help to revitalize aging economic corridors in the City.

Summary of Expenditures by Category

The Economic Development budget increased by $3,660 due to the Perennial Beautification Program addition.
There were additional minor adjustments to the budget that also contributed to the overall change in the budget
from 2024-2025.

FY2026
FY2024 Actual FY2025 Budget FY2025 Projected
Adopted
Supplies $ 422.00 $ 1,000.00 $ 1,000.00 $ 1,000.00
Maintenance $ - $ 300.00 $ - $ -
Contractual Sundry $ 85,250.00 $ 138,300.00 $ 138,300.00 $ 212,700.00
Capital Outlay $ - $ - $ - $ -
Transfers $ 428,000.00 $ 561,640.00 $ 561,640.00 $ 491,200.00
Total EDC $ 513,672.00 $ 701,240.00 $ 700,940.00 $ 704,900.00
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