Title
Receive a quarterly update from the Economic Development Department.
Body
REQUESTOR:
Deputy Mayor Pro Tem Roger Neal
BACKGROUND:
The purpose of this agenda item is to provide the City Council with a comprehensive quarterly update regarding the City's economic development activities, including business recruitment, retention, and expansion (BRE) efforts, vacancy trends across key asset classes, and upcoming initiatives intended to strengthen Farmers Branch's economic competitiveness and long-term economic vitality.
The Farmers Branch economy continues to demonstrate resilience and stability despite ongoing regional and national market challenges. Industrial and multifamily vacancy rates remain favorable when compared to 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 both small businesses and the City's major tax-revenue-generating employers through proactive engagement, strategic outreach, and collaborative partnership efforts. These initiatives support the City Council's goals related to economic vitality, business retention, and sustainable growth.
DISCUSSION:
In 2026, the Economic Development Department significantly expanded its business recruitment, retention, and expansion efforts. Staff established a goal of conducting approximately 200 Business Retention and Expansion (BRE) visits throughout the year, including focused engagement with the City's top tax-revenue-generating employers while continuing to maintain and strengthen relationships with the local small business community.
The City of Farmers Branch continues to perform competitively, with industrial and multifamily vacancy rates that compare favorably with neighboring municipalities such as Carrollton and Addison, as well as with regional and national market indicators.
The City Manager's Office has also c...
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