Fort Worth: Where Success Begins

Fort Worth has evolved into one of the most cutting-edge cities in the world.

Through recent innovative strategies and new forward-thinking policies, city leaders are redefining what business success looks like while preserving Fort Worth’s accomplished legacy by advancing opportunity citywide.

“Fort Worth has really been in a constant state of evolution, particularly over the past decade,” says Robert Sturns, director of economic development for the City of Fort Worth. “We have an incredibly diverse economy here – we’re not just an oil and gas town anymore. Our aerospace and defense sector has grown significantly, we’ve developed strengths in mobility and logistics, advanced manufacturing, sustainable energy, life sciences, and more. We have some incredible cultural assets. And all of this has given us a solid foundation to build on, to attract more investment and a variety of high-paying jobs for our residents.”  

In 2017, the city crafted its first economic development strategic plan, in an effort to anchor the city’s impressive economic climate in coming years. Since adopting the initial plan, Fort Worth has, in more than one way, grown by leaps and bounds.

Despite unsteady global conditions, Fort Worth has continued to foster one of the nation’s most robust business environments, while concurrently, supporting new growth and building a vigorous talent pool of both incoming, new, and longtime residents.

Recent large-scale commercial developments across Fort Worth have placed a national spotlight on the booming city, and the AllianceTexas Mobility Innovation Zone is a showcase of creative innovation that can only be found here, offering new technologies that will redefine mobility, including the on-demand drone delivery service, Wing, and TuSimple, an autonomous trucking service.

Other unique opportunities reshaping the industry include Linear Labs — bringing an entirely new versatile electric motor design — and AyuVis Research, Inc., which focuses on developing prospective treatments for life-threatening respiratory conditions.

In recent years, expanded business ventures have also elevated the city’s appeal to creative businesses and emerging technology and health companies, while new equitable initiatives have begun to pave the way for economic advancement. By 2023, Fort Worth will be a fully functioning CDFI Friendly City, connecting underserved communities with flexible financing options.

In line with the growing opportunity and development, the city’s population has also accelerated, quickly rising in rankings from the No. 15 largest to No. 12 largest city in the nation. City leaders anticipate that Fort Worth will reach 1 million residents by 2025 and are planning accordingly.

“Fort Worth’s growth has been tremendous, and with that growth comes opportunity,” says Sturns. “It’s our job to make sure we’re approaching it from both sides – attracting companies and talent that will ensure Fort Worth is competitive in the years to come, while also developing those local businesses and a skilled workforce from the ground up, right here at home.”

Economic Success

Consistent with the fast-paced changes within the community and global economy, Fort Worth City Council recently approved an updated strategic plan, slated to strengthen the city’s economic development even further and bring new opportunities to the forefront of the city.

“The pandemic changed the game on several levels, and this update to our strategic plan was really meant to reassess what was working and what needed to change, so we could adjust our policies and procedures accordingly,” says Sturns. “Now more than ever, it’s important that our plans reflect our overall goals for Fort Worth and the opportunities that we want to attract to our city.”

While the updated plan embraces Fort Worth’s authentic identity, it also elevates the city’s role as an emerging creative hub and seeks to provide equitable opportunities to historically underserved neighborhoods.

With these goals in mind, transformation is already underway for long-neglected neighborhoods in Southeast and East Fort Worth.

For instance, the Stop Six Choice Neighborhood Initiative — spearheaded by Fort Worth Housing Solutions — will provide nearly 900 mixed-income multifamily units, along with other community-wide improvement projects, through a $35 million grant awarded by the U.S. Department of Housing and Urban Development. Funds will also support community resources, public amenities, and neighborhood services.

Additionally, a master developer has begun to reimagine the Evans and Rosedale neighborhood as a mixed-use urban living community with neighborhood retail and green space. The vision includes attracting new restaurants and grocery options to areas historically known as a food desert.

Citywide redevelopment will support accessibility across Fort Worth, providing public green spaces in the renewed developments, increasing walkability, and bicycle-friendliness.

“Ultimately, our city is only as strong as its neighborhoods,” says Sturns. “When you have areas of town that are struggling, or that aren’t seeing the same levels of investment as other parts of the city – which we’re seeing now, particularly in east and southeast Fort Worth – it’s important to work on that, to make sure we don’t leave people and communities behind. Not only does this make sense from a business standpoint, but more importantly – it’s the right thing to do.”

Supporting their goal to create opportunities for equity across the city, Fort Worth leaders also envision revigorated mixed-use districts where suburban developments with low-density traffic are currently located.

For instance, the aging commercial centers near Altamesa Boulevard and McCart Avenue could become higher education and healthcare institutions, multifamily housing, new public-private partnerships, or serve nontraditional uses as cloud kitchens.

New mixed-income housing options are also on the cusp, as the city intends to transform underutilized and vacant big-box retail businesses and shopping centers into mixed-use, urban living spaces with ranging price points, to help ensure that longtime residents of the neighborhood still have affordable options to stay there.

Additionally, the strategic plan’s updated regulations will allow and incentivize ground-floor commercial space in mixed-use structures along high-traffic arterial roads, including those near Camp Bowie Boulevard and Altamesa Boulevard.

“When it comes to our revitalization efforts, everything stems from those business corridors,” says Sturns. “A successful business corridor can be the spark that drastically improves a community’s overall quality of life. If you have a variety of businesses located near residential areas, that can provide the people of the neighborhood with jobs, that help create a sense of camaraderie that residents and visitors alike can rally behind – that’s an incredibly strong foundation for any community.” 

As the city continues to develop new strategies and collaborate with various partners to help bring new life into local underserved communities, these efforts will ultimately result in new investment opportunities, new access to capital, and a new-and-improved business climate across all corners of Fort Worth.

Learn more about economic development in Fort Worth at itbeginsinfortworth.com