Fort Worth ranks 2nd in N. Texas for economic development deal value

Published on August 31, 2022

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The Dallas Business Journal recently published its annual list of the top economic development agencies in North Texas, as ranked by the value of their deals during 2021.

The City of Fort Worth ranked second, behind the Sherman Economic Development Corp. and placing above others in the Metroplex, including the City of Mesquite, the City of Dallas, McKinney Economic Development Corp. and Irving Economic Development Partnership.

The value of deals in Fort Worth during 2021 reached $569 million. This value not only captured several corporate relocations or major expansions to the area, but also included two major developments that represent significant investment in the area – the Crescent Hotel, going up on Camp Bowie Boulevard., and the Hoque Global development that will soon begin construction in the Historic Southside at Evans and Rosedale Avenue.

“We’re very proud that Fort Worth scored so highly on the Dallas Business Journal list, although we're not entirely surprised," said Robert Sturns, Fort Worth’s director of economic development.

"Between our city's tremendous growth, several of our recent deals, and other major initiatives in the pipeline – including some that will reimagine large parts of our downtown – there's clearly a lot of opportunity in Fort Worth, and we're starting to get on the radars of the companies and businesses who want to be part of it."

Other notable projects that helped bolster Fort Worth’s ranking on the list included MP Materials’ magnet factory – the first manufacturing facility of its kind in the country; the expansion of RSI SmartCap’s manufacturing operations for stainless steel truck cap systems; the relocation of SmartAction’s corporate headquarters focused on AI software; and the new production facility for Oatly, the world’s largest oat drink company.

Top 10 North Texas economic development agencies and the value of their 2021 deals

  • Sherman Economic Development Corp. ($30.07 billion)
  • City of Fort Worth ($569 million)
  • City of Mesquite Economic Development ($451 million)
  • City of Dallas Office of Economic Development ($423 million)
  • McKinney Economic Development Corp. ($382.93 million)
  • Irving Economic Development Partnership ($300.45 million)
  • City of Haslet Economic Development Corp. ($300 million)
  • Allen Economic Development Corp. ($291.67 million)
  • Plano Economic Development ($269 million)
  • City of Arlington Office of Economic Development ($250.1 million)

Fort Worth’s top qualifying projects for 2021

  • Crescent Real Estate
  • MP Materials
  • RSI SmartCap
  • Hoque Global Properties
  • Smart Action
  • Oatly Inc.

 

 

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