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Economic Development In Tarrant County

Economic Development In Tarrant County. United Way Economic Summit February 13, 2014 Lisa McMillan, Economic Development Coordinator, Tarrant County. Tarrant County at a Glance. 864 square miles 41 municipalities 2013 Population -1,850,370 2010 – 1,809,034 2000 – 1,449,290

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Economic Development In Tarrant County

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  1. Economic Development InTarrant County United Way Economic Summit February 13, 2014 Lisa McMillan, Economic Development Coordinator, Tarrant County

  2. Tarrant County at a Glance • 864 square miles • 41 municipalities • 2013 Population -1,850,370 • 2010 – 1,809,034 • 2000 – 1,449,290 • Total Employment – 929,970 • Dec. 2013 Unemployment Rate • Tarrant 5.3% • Texas 5.6% • U. S. 6.5% • Total Appraised Value • 2013 - $158,238,342,804 • 2010 - $147,781,930,865 • 2000 - $ 82,135,568,627

  3. County Judge and Commissioners • County Judge • B. Glen Whitley • Precinct 1 • Roy C. Brooks • Precinct 2 • Andy H. Nguyen • Precinct 3 • Gary Fickes • Precinct 4 • J.D. Johnson

  4. County’s Role In Economic Development • Partner with Entities in Tax Incentives • Facilitate Transportation and Infrastructure • Encourage Regional Cooperation • Provide Basic “Quality of Life” Services • Promote Community Development • Assist with Job Training/Workforce Skills

  5. Tarrant County’s ED Toolbox • Tax Abatement • Tax Increment Financing • Transportation Infrastructure Development • Public Improvement Districts • Historical Site Exemption • Freeport Exemption • Foreign Trade Zone Designation • Enterprise Projects/Zones • Job Training Programs • Tax-Exempt Bonds

  6. Tax Abatement • 75 Abatements since 1989 • 22 Active • 2 to 3 per year • Approx. $2.6 billion in new investment • Over 28,000 jobs retained/added • Variety of Project Types • Manufacturing, Office, Warehouse, Distribution, Data/Call Center, Retail, Hospitality, Housing • Abated Value less than 0.5% of total value

  7. Evaluation Criteria for Tax Abatement • Broad to encompass all cities • Investment - $5 M new; $3 M expansion • Jobs – 25 new; retain for existing • No relocation from within County • Tarrant County employment – 25% • Contracting – 25% TC; 15% DBE • Other: Health Care & Benefits; Job Types & Salaries; Diversity; Environmental; Community

  8. Recent Abatement Projects • Deloitte U– Westlake - $175 M; 500 jobs; 65% • BCBS TX– Ft. Worth - $175 M; 130 jobs; 50% • GM Plant- Arlington - $254 M; 2300 jobs retained, 110 new; 70% • GM Stamping Facility– Arlington - $200 M; 200 jobs; 70% • Bell Helicopter– Ft. Worth - $235 M; 4500 jobs retained; 70% • Horizon Milling– Saginaw - $38 M; 84 jobs retained; 40% • Carolina Beverage– Ft. Worth - $45 M; 225 jobs; 50% • NGC– Fort Worth - $96 M; 150 jobs; 60%

  9. Other Recent Announcements • Walmart Distribution Center – 400 jobs • Amazon Distribution Center - 1,000 jobs • Flextronics/Motorola Mobility – 3,000 jobs • FAA - 1,300 jobs • Vought Aircraft Division – 500 jobs

  10. Tax Increment Financing • Incremental tax dollars gained from new development value pay for public improvements within a set zone

  11. 34 TIF Districts 18 Municipalities Arlington Grand Prairie Benbrook Keller Burleson Kennedale Colleyville Mansfield Crowley N Richland Hills Euless Richland Hills Everman Sansom Park Fort Worth Southlake Grapevine Trophy Club New Development Redevelopment Fund Public Projects Roads/Bridges/Parking Water/Sewer/Drainage Sidewalks/Landscaping Public Facilities/Spaces Real Property Increment Value - $4.2 billion TIF Districts: Value Added

  12. Transportation Infrastructure • Improving Access and Mobility • Transportation Bond Program • D/FW Connector • North Tarrant Express • Chisholm Trail Parkway • I-35 Corridor Improvements • Hwy 360 Development • TEX Rail • High-Speed Rail

  13. ED Impact for Non-Profits • Additional Assistance & Reduced Need • Stable and Growing Economy • Good Jobs; Low Unemployment • Added Corporate Donations • Employee Giving and Volunteerism • Neighborhood/Community Revitalization • Provision of Healthcare and Benefits • Housing Opportunities • Transportation Options

  14. Company Impacts in Community • General Motors • Annual community grants/donations • $100,000 in toys annually to Mission Arlington • Other Local Assistance to: American Heart Association March of Dimes Arlington ISD Foundation Arlington ISD Green Roark Elementary Tarrant County Food Bank Parkview Neighborhood Assoc Big Brothers Big Sisters American Cancer Society Make-A-Wish Foundation American Red Cross River Legacy Foundation United Way of Tarrant County Mission Arlington Habitat for Humanity Junior Achievement Making Strides Against Breast Cancer

  15. Company Impacts in Community • Bell Helicopter • $1.25 M annual corporate giving • $600 annual employee giving • Local Assistance to: United Way USO at DFW Airport Red Cross 6 Stones Habitat for Humanity Special Olympics Snowball Express Toys for Tots Tarrant County Food Bank Communities in Schools HEB Education Foundation Texas State Guard FWISD Robotics Program Ft. Worth Air Power Foundation

  16. “We make a living by what we get. We make a life by what we give.” ― Winston Churchill

  17. Lisa McMillan Economic Development Coordinator Tarrant County Administrator’s Office lmcmillan@tarrantcounty.com 817-884-2643

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