Fort Worth City Council approves this year’s Economic Development Incentive plan to bring new businesses to the city.
Fort Worth Economic Development Director Robert Sturns said the incentives are designed to make Fort Worth more attractive for Fortune 500 companies and improve the competitiveness of existing businesses. “We have set aside a designated cash fund which will allow us to put some dollars in upfront to offset relocation and start up costs when you’re talking about moving a large scale office user from one area to another,” Sturns said.
Other incentives include tax abatements, grants and loans with a goal of making Fort Worth a hub for creative businesses and boost community liveliness.
“Fort Worth is a community that has over 70,000 acres of vacant land that’s available for development so we really have amenities already but these incentives add another piece to the puzzle for companies to take a look at us from a corporate standpoint,” he said.