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HomeMy WebLinkAboutIR 10489 INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 20-10489 October 20, 2020 To the Mayor and Members of the City Council .1 ` Page 1 of 2 x° {VA SUBJECT: ECONOMIC DEVELOPMENT MARKETING UPDATE yez3 In December 2017, the Economic Development Strategic Plan was accepted by the City Council. The economic development vision statement is: "To compete successfully on the national and international stage for creative, high-growth businesses and the talented individuals who fuel them." Along with the vision, the plan outlined three goals: • Establish Fort Worth's competitive edge • Become a hub for creative businesses Ensure community vitality The plan also outlined four anticipated outcomes: • High-wage job growth • Developing a more sustainable tax base • Focus on high-growth businesses and the creative individuals who fuel them • Commitment to quality of place In order to achieve these goals and outcomes, the Economic Development Department pursued a marketing strategy in collaboration with the Fort Worth Chamber of Commerce, Fort Worth Hispanic Chamber of Commerce, Fort Worth Metropolitan Black Chamber of Commerce, Visit Fort Worth, and the Real Estate Council of Fort Worth. This collaboration included the development of an overarching messaging platform for Fort Worth and involved significant stakeholder engagement. Following the broader effort, the group honed in on a website, rhriveinFortWorth.com, which was launched in late February 2020. The website features various facts and stats about Fort Worth, a property search feature, news and media highlights, and industry and talent information. Enhancement to the website will include Target Industry"one-pagers" that provide additional details about the benefits of Fort Worth relative to our key industries. These will be added to the website later this year. We are also in discussions of enhancing the talent recruitment information on the site. Additionally, the department has been in the process of developing a marketing piece focused on neighborhoods within Fort Worth (copies previously provided). This folder, to be utilized for developers, investors and business leaders, highlights the many opportunities for development and includes a pocket in which expanded information about the neighborhoods can be provided, including available properties, market research and other customized information. ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 20-10489 October 20, 2020 To the Mayor and Members of the City Council Page 2 of 2 x° �trA SUBJECT: ECONOMIC DEVELOPMENT MARKETING UPDATE 1875 The Revitalization team has finalized a revitalization strategy focused on several areas to further focus and enhance the marketing efforts. These include: • Stop Six 0 Como • Wesleyan/Poly 0 E. Lancaster • E. Rosedale/Riverside 0 Historic Handley • Altamesa & McCart 0 West Camp Bowie • Evans & Rosedale 0 Near Northside The team has started working on neighborhood profiles associated with each of these areas and will have these available in both digital and print, and have been researching available properties, resources, and potential partnerships. The team has also hosted several developer tours prior to COVID-19. These have primarily been tied to one-on-one specific interests and opportunities, and will begin those again in early 2021 . Associated with the developer tours is additional outreach, both locally, regionally and nationally. This includes the implementation of a broader messaging campaign focused on the three goals previously noted. The Economic Development Department will be seeking approval of a marketing strategy from the Fort Worth Local Development Corporation (LDC) when the sale of the Blue Mound Road industrial complex is completed. Other specific opportunities have been pursued during this time, including advertisements and articles specific to the iter8 Health Innovation Community, which was published in Dallas Innovates magazine. This was done in partnership with Near Southside, Inc. and did garner a number of calls about the area and efforts. The department will continue to work with the partners mentioned, and many others, to reach our various audiences and to leverage the limited resources available. To further support our efforts, the department recently reclassified a position and hired a Communications Specialist who will be joining the team in November. If you have any questions concerning this information, please contact Robert Sturns, Economic Development Director at 817-392-2663 or robert.sturns@fortworthtexas.gov. David Cooke City Manager ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS