As economic development policy becomes increasingly standardized, differentiating one community from the next becomes more difficult. TXP takes a more customized approach. Unlike traditional community and economic development plans that rely heavily on historical demographic data and current industry concentrations or "clusters," TXP believes that integrating targeted business recruitment with land use planning and community cultural vitality offers the best opportunities for long-term growth.
Businesses are choosing to locate in communities that are able to attract and retain highly skilled and talented employees. These workers are increasingly drawn to regions that offer a diversity of cultural amenities and activities as well as exciting employment opportunities. TXP believes that the future of economic development is fundamentally linked to local business start-ups, new forms of land use planning that promote transit-oriented developments, and thoughtful public policy that encourages the cultural arts
Businesses are choosing to locate in communities that are able to attract and retain highly skilled and talented employees. These workers are increasingly drawn to regions that offer a diversity of cultural amenities and activities as well as exciting employment opportunities. TXP believes that the future of economic development is fundamentally linked to local business start-ups, new forms of land use planning that promote transit-oriented developments, and thoughtful public policy that encourages the cultural arts
EXAMPLE PROJECTS
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Assessment of Grapevine's Economic Development Strategies and Approach
City of Grapevine, Texas
TXP conducted two economic development workshops with Grapevine's City Council to review and assess the city's economic development practices and recommend strategies for improvement. Economic and demographic information was collected and analyzed to develop a thorough understanding of the external and internal forces that would shape the future of both the city and the region. A series of high-level economic development policy guidelines and strategies were generated which took into account input and comments from the City Council and city staff. ........................................................................................................
Minority Small Business Development
Memphis Tomorrow, a CEO organization in Memphis, TN
The lack of economic opportunity for minority businesses in the Memphis MSA is well documented, creating a range of social problems and social costs for the entire community. To address this issue, TXP was retained by Memphis Tomorrow to identify targeted recommendations that could be implemented by clearly identified stakeholders. Three primary needs were identified: access to markets, access to capital, and capacity building. The report contained specific recommendations and the potential economic impacts that successful implementation could yield. ........................................................................................................
The Mayor's Taskforce on the Economy
The City of Austin
TXP served as project consultants to Austin’s recent efforts to set economic development policy. See http://www.ci.austin.tx.us/redevelopment/whitepaper.htm for a copy of the initial white paper; additional committee reports and policy recommendations are also available. TXP continues to advise the city on economic development issues, especially those related to revenue forecasting and incentives policy.
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Assessment of Grapevine's Economic Development Strategies and Approach
City of Grapevine, Texas
TXP conducted two economic development workshops with Grapevine's City Council to review and assess the city's economic development practices and recommend strategies for improvement. Economic and demographic information was collected and analyzed to develop a thorough understanding of the external and internal forces that would shape the future of both the city and the region. A series of high-level economic development policy guidelines and strategies were generated which took into account input and comments from the City Council and city staff. ........................................................................................................
Minority Small Business Development
Memphis Tomorrow, a CEO organization in Memphis, TN
The lack of economic opportunity for minority businesses in the Memphis MSA is well documented, creating a range of social problems and social costs for the entire community. To address this issue, TXP was retained by Memphis Tomorrow to identify targeted recommendations that could be implemented by clearly identified stakeholders. Three primary needs were identified: access to markets, access to capital, and capacity building. The report contained specific recommendations and the potential economic impacts that successful implementation could yield. ........................................................................................................
The Mayor's Taskforce on the Economy
The City of Austin
TXP served as project consultants to Austin’s recent efforts to set economic development policy. See http://www.ci.austin.tx.us/redevelopment/whitepaper.htm for a copy of the initial white paper; additional committee reports and policy recommendations are also available. TXP continues to advise the city on economic development issues, especially those related to revenue forecasting and incentives policy.
