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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Kerrville and Kerr County Economic Development Strategic Plan
Kerrville Economic Development Foundation
The City of Kerrville and Kerr County needed better alignment and coordination to maximize the area’s economic development potential. The Kerrville Economic Development Foundation engaged TXP to create a strategic plan to address these and other issues. During the planning process, a number of themes emerged from discussions with stakeholders, community input and business surveys, and the SWOT analysis. TXP grouped these major themes into broad categories that captured the essence of economic development in the region and created five priority recommendations and action itemsy
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Market Feasibility Analysis for the Spectrum Development in Pearland, Texas
Pearland Economic Development Corporation (PEDC)
As part of a land use strategy planning team, TXP partnered with the PEDC to position the Spectrum development as a sustainable employment center along the Highway 288 Corridor. As part of the effort to plan the build-out of the development, TXP was tasked with conducting a market feasibility study to determine overall demand projections for the Spectrum project. The analysis included a discussion of market environment, including the macro situation, overall economic and demographic forecasts, and projections of specific real estate demand. Additionally, a review of development orientation was conducted along with TXP’s projections for absorption.
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Assessment of the Market Conditions Influencing the Trinity River Vision Project
Tarrant Regional Water District
Realignment of Fort Worth’s Trinity River followed by the successful implementation of the Trinity River Vision (TRV) would have a dramatic impact on the City’s economic development future. Because a number of variables could influence the amount of tax revenue generated by the development, TXP was tasked with developing a number of scenarios that model the tax revenues generated within the Trinity River Vision TIF. After the initial analysis was completed, TXP was again hired a few years later to update key regional economic trends influencing overall TRV development in light of the changing economic environment.
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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.
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Kerrville and Kerr County Economic Development Strategic Plan
Kerrville Economic Development Foundation
The City of Kerrville and Kerr County needed better alignment and coordination to maximize the area’s economic development potential. The Kerrville Economic Development Foundation engaged TXP to create a strategic plan to address these and other issues. During the planning process, a number of themes emerged from discussions with stakeholders, community input and business surveys, and the SWOT analysis. TXP grouped these major themes into broad categories that captured the essence of economic development in the region and created five priority recommendations and action itemsy
.........................................................................................................
Market Feasibility Analysis for the Spectrum Development in Pearland, Texas
Pearland Economic Development Corporation (PEDC)
As part of a land use strategy planning team, TXP partnered with the PEDC to position the Spectrum development as a sustainable employment center along the Highway 288 Corridor. As part of the effort to plan the build-out of the development, TXP was tasked with conducting a market feasibility study to determine overall demand projections for the Spectrum project. The analysis included a discussion of market environment, including the macro situation, overall economic and demographic forecasts, and projections of specific real estate demand. Additionally, a review of development orientation was conducted along with TXP’s projections for absorption.
........................................................................................................
Assessment of the Market Conditions Influencing the Trinity River Vision Project
Tarrant Regional Water District
Realignment of Fort Worth’s Trinity River followed by the successful implementation of the Trinity River Vision (TRV) would have a dramatic impact on the City’s economic development future. Because a number of variables could influence the amount of tax revenue generated by the development, TXP was tasked with developing a number of scenarios that model the tax revenues generated within the Trinity River Vision TIF. After the initial analysis was completed, TXP was again hired a few years later to update key regional economic trends influencing overall TRV development in light of the changing economic environment.
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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.
