Linear Labs on behalf of Fort Worth Economic Development
It’s no secret that Texas is a major destination for corporate relocation. With business-friendly tax laws, a strong ecosystem, talent attraction in a diverse set of industries, and plenty of room for companies to grow, Fort Worth has quickly risen to the top.
Anchoring that strength is innovation and collaboration across businesses, industries, and public-private partnerships. By leveraging the economic landscape, the city has already established in aerospace, energy, mobility, health care and life sciences, and advanced manufacturing; Fort Worth is poised to outpace larger cities across the nation in economic potential.
Uniquely Positioned for Talent and Coastal Corporations
Fort Worth offers many advantages for corporations looking to relocate or expand. It’s centrally located in the U.S., which helps connect companies to either coast while providing an affordable quality of life employees will find attractive. Within the Greater Fort Worth area, the cost of living is 5.4% less than the national average.
Workers are becoming more selective in where they live and work, choosing quality of life over working for big-name brands in expensive cities. Culture and entertainment are a big part of the appeal. In addition to the 100-plus miles of bikeable trails along the Trinity River, Fort Worth offers six world-class museums within the Cultural District — all within walking distance. And with deep roots in jazz, rock, blues, country and classical, the music scene is strong. Fort Worth artists include Grammy winner Leon Bridges, who has helped the city become a bona fide music destination.
Lockheed Martin on behalf of Fort Worth Economic Development
Talent attraction is a region’s greatest asset, and Fort Worth offers an extremely diverse economy with a strong job market. The region also provides a range of lifestyle options from urban to rural, all with easy access to airports, leading schools, and world-class cultural and entertainment options.
In the last few years, it’s become clear that companies are choosing to move their headquarters to Fort Worth because that’s where the best talent lives. With 10 major universities and colleges and curriculums that align with the city’s strongest industries, Fort Worth is creating a highly skilled talent pipeline that feeds into industries that have seen longstanding success in Fort Worth.
Higher (Value) Education
The relationship between education and economic growth is synonymous. When cities increase investment in education, both individuals and society benefit from higher salaries, greater productivity and employability, and an upskilled workforce.
Texas colleges and universities are investing in the next generation of talent and innovation by pouring more than $5 billion annually into R&D programs, offering students direct engagement opportunities with aerospace giants such as Lockheed Martin, Boeing, Cessna, the U.S. Air Force, and more. Mutually beneficial research partnerships between industry and educational institutions are important to stimulating and accelerating innovation and new frontiers of research.
As the source of advanced learning and research, universities are helping to train the workforce of tomorrow while supporting the innovations of today. The University of North Texas Health Science Center at Fort Worth’s Regional Simulation Center is the first immersive virtual reality medical training center in Texas, offering students, faculty, and area medical professionals the opportunity to learn in a low stakes, yet real-world environment.
Texas A&M University is expanding to redefine downtown Fort Worth around its Tier 1 research presence. The nationally ranked School of Law, which has already made an impact on the community and future partnerships with local industry leaders like Alcon, AT&T and Bell, will further cement the knowledge-based economy the city is creating.
Cultivating a City Where Industry Thrives
Fort Worth is investing in the infrastructure to support its established industries with innovation districts like the AllianceTexas Mobility Innovation Zone (MIZ). The MIZ is a first-of-its-kind supply chain mobility innovation ecosystem that brings cutting-edge technologies to commercialization.
Fort Worth Economic Development
Creating spaces like the MIZ requires continuous public and private collaboration and investment. Fort Worth's ability to maintain the economy and make opportunity more accessible for businesses and people will depend on the ability of public and private industry to innovate and drive new technologies. Those developments require specialized onshore manufacturing; the ability to safely build and test prototypes; collaboration between industry, government, and educational institutions; a skilled workforce; and a growing talent pipeline. And while this list is not exhaustive, one thing rings true. These can all be found in Fort Worth.
Visit itbeginsinfortworth.com to learn more.