Title
Provide a third-quarter update on Economic Development activities.
Body
REQUESTOR:
Deputy Mayor Pro Tem Roger Neal
BACKGROUND:
Regular economic development updates keep the City Council informed on the City's progress toward strengthening the local economy and maintaining a healthy tax base. The report highlights business recruitment, retention, and expansion efforts; monitors commercial vacancy trends; and identifies opportunities and challenges that may affect future growth. This information enables the Council to evaluate the effectiveness of current economic development strategies, make informed policy decisions, and ensure resources are aligned with the City's strategic priorities to support long-term economic vitality and community investment.
The Farmers Branch economy has continued to demonstrate resilience and stability in the third quarter despite ongoing regional and national market challenges. Industrial and multifamily vacancy rates have remained favorable compared with those of neighboring communities and broader regional benchmarks, reinforcing the City’s position as a desirable location for investment, business operations, and residential growth.
The City continues to strengthen relationships with our small businesses and the City’s major tax-revenue-generating employers through proactive engagement, strategic outreach, and collaborative partnerships. These initiatives support the City Council’s goals for economic vitality, business retention, and sustainable growth.
DISCUSSION:
In the third quarter of 2026, the Economic Development Department significantly expanded its business recruitment, retention, and expansion efforts. During the third quarter, staff made 89 visits. To date, staff has conducted 140 visits for the year, including corporate and targeted meetings, ribbon cuttings and events, and business pop-ins. To date, staff has completed 70% of its goal of approximately 200 Business Retention and Expansion (BRE) visits, incl...
Click here for full text