HomeMy WebLinkAboutIR 100 INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 22-100
To the Mayor and Members of the City Council June 21, 2022
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SUBJECT: FORT WORTHS INTERNATIONAL PROFILE AND EVALUATING THE
rrn NEED FOR A `GLOBAL FORT WORTH'
The purpose of this Informal Report is to provide an update on the plan to hire a consultant to conduct an
inventory and assessment of global stakeholders and opportunities in Fort Worth.
Fort Worth, Texas is the 12th largest city in the United States and home to some of the world's leading
companies, organizations, and talent. In addition to our growing capacity for commerce and trade,we are
experts in building global friendships,having been recognized as the nation's#1 Sister Cities program and
featuring with a vibrant community of diaspora groups. Additionally, as our city expands its diverse footprint, it
will be increasingly critical to develop tactics to embrace new, global opportunities.
Our Economic Development Department's vision is for local,high-growth businesses and talent to successfully
compete on the national and international stage. To that end, our strategy is driven by three key goals:
• Establish Fort Worth's competitive edge
• Become a hub for global businesses
• Support the vitality of our multiethnic community
Despite being home to leading innovators in aerospace,healthcare,tech, energy, and transportation, as well as
boasting a world class international airport, institutional gaps prevent the City of Fort Worth from optimizing its
seat at the global table. A coordinated center for international commerce,trade, and protocol would create
opportunities and enhance services to help the City compete on a global scale.
Key stakeholders who share a core interest in enhancing Fort Worth's global profile include Fort Worth Sister
Cities International, Tarrant County, Fort Worth Chamber of Commerce,Fort Worth Hispanic Chamber of
Commerce,Fort Worth Metropolitan Black Chamber of Commerce, DFW Airport,American Airlines,Fort
Worth Real Estate Council,Visit Fort Worth and others.
To fully evaluate the need,the City seeks to hire a consultant to conduct an inventory and assessment of global
stakeholders and opportunities,respectively. The anticipated cost to hire a consultant is approximately $40,000.
This effort will be funded by participating stakeholders and is expected to begin this summer.
The assessment will include:
1. Determine the feasibility of a `Global Fort Worth'
2. Identify an inventory of current global resources as well as institutional gaps
3. Tailor best practices to create a dynamic model and sustainable business plan
4. Develop a Partners Council to champion the initiative
For questions regarding this information,please contact Economic Development Director Robert Sturns at
Robert.Stumskfortworthtexas.Rov.
David Cooke
City Manager
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS