Master Plan

 

The first Economic Development Strategic and Marketing Plans were adopted in November 1998, and resulted in the formation of the Lakeside Business District. In 2003, the two plans were combined into a single Economic Development Plan and included as part of the Town’s Master Plan. In 2007, the Economic Development Advisory Committee (EDAC) provided input to update the Economic Development Plan and Economic Development Incentive Policy as part of the Master Plan Update. The EDAC will annually review and propose any necessary updates to the Incentive Policy and staff will prepare a status report for Council review annually.

MISSION STATEMENT

To expand the commercial tax base and increase sales tax revenue in a way that supports community character and quality of life objectives, promotes a diversified and regionally competitive economy that creates professional employment opportunities for our citizens, and ensures Flower Mound’s long-term financial ability to provide quality service to new and existing development without placing a disproportionate tax burden on homeowners.

PERFORMANCE MEASURES 1

By the year 2012, Flower Mound‘s commercial tax base will represent 20 percent of the total tax base and produce a per capita sales tax collection of $125.00.

 

1 Estimate projected for 2008 – 2012 based on actual growth of tax base and sales tax per capita from 2002-2006.

GOALS AND OBJECTIVES

I.          Continue to develop and improve community resources that contribute to a favorable business environment and encourage high-quality commercial development.

A.         Public Policies and Internal Procedures

• Offer performance-based financial incentives that are fiscally sound, commensurate with the anticipated benefits, and competitive with other communities.

• Work to ensure responsive and efficient regulatory and development processes that balance customer service excellence with public accountability.

            B.         Infrastructure and Transportation

• Proactively identify and participate in appropriate off-site infrastructure improvements that will encourage desirable private development and investment.

• Engage in ongoing strategic transportation and mobility planning to help ensure adequate capacity and efficiency for our thoroughfare system.

3.         Leverage regional transportation partnerships and political action groups to promote Flower Mound’s priorities for federal and state highway development. 

C.        Quality of Life 

• Develop and maintain a comprehensive park system to provide diverse leisure opportunities for all of Flower Mound.

• Encourage the beauty and uniqueness of the community through the preservation of our natural environment and promotion of the cultural and visual arts.
  

II.          Maintain a proactive marketing program to encourage the attraction of targeted commercial, industrial and retail developments.

• Targeted Uses, Industries and Audiences

• Focus marketing efforts on the commercial/industrial/mixed-use uses specified in the Area Plans for the Lakeside Business District and the Denton Creek District, and on appropriate retail uses for these Districts, the Tax Increment Reinvestment Zone (TIRZ) and other Specific Plan Areas.

• Target the following industries/facility types for commercial/industrial use: Medical Device and Biomedical, Financial Services, Hospital, Surgical and Medical Services, Higher-Ed Educational Services, Corporate Headquarters.

• Generate inquiries through referrals by brokers, developers, landowners, site consultants, utility partners and other allies.

B.         Events and Relationships

• Host periodic events designed to promote development opportunities to targeted audiences and to facilitate networking with local business and community leaders.

• Participate in selected trade shows and other marketing activities such as NTCAR Commercial Real Estate Expo, ICSC Texas Dealmakers Conference and Spring Convention, Medical Device and Manufacturing Expo, and CoreNet Global Summit in partnership with the Dallas Fort Worth Marketing Team and regional Economic Development Allies as appropriate to initiate face-to-face contact with business location decision makers.

• Maintain active memberships in targeted economic development, commercial real estate and target industry associations such as TEDC, IEDC, ICSC, NAIOP, NTCAR, CoreNet Global and attend meetings and functions on a regular basis.

• Publicity and Promotion

• Serve as a catalyst for positive editorial placement about Flower Mound businesses and economic development activity in local, regional and national news and trade publications.

• Participate in selected print and Internet-based advertising opportunities announcing new businesses and development opportunities.

• Provide commercial real estate search capabilities on the Town’s Economic Development website to promote commercial real estate and development opportunities.

• Sponsor events that promote the recognition of new businesses to the community.

III.         Provide on-going support to Flower Mound’s existing businesses and cultivate an environment conducive to continued growth and stability.

• Promote activities and successes of Flower Mound’s existing businesses.

• Partner with the Flower Mound Chamber to sponsor special events designed to promote the recognition of awards or special achievements.

• Promote success stories through positive editorial placement.

• Provide technical assistance to local businesses

• Act as an information and referral source for business assistance programs offered by the US Small Business Administration, local Small Business Development Centers, and related organizations.

• Sponsor educational seminars and skills workshops covering various business start-up and management issues.

• Act as Town business liaison, providing information and/or contacts with other Town departments.

• Research and compile data as requested.

• Encourage retention/expansion of existing businesses

• Create business visitation program to facilitate relationships, learn about specific characteristics and activities of local businesses.

• Expand the Shop Flower Mound program to encourage residents and businesses to shop locally.

• Provide reduced thresholds to expanding existing businesses for incentive consideration as identified in the Economic Development Incentive Policy.
  

IV.        Establish appropriate partnerships with the community to effectively support business development.

• Information and Education

• Serve as a resource to research and collect and communicate demographic, tax rate, and other economic development information to prospects, citizens, local businesses, development allies and others as appropriate.

• Maintain a current collection of printed and electronic marketing materials, distribution lists, and create new materials as appropriate.

• Maintain and continually update a dedicated economic development website that provides pertinent information about demographics and available commercial real estate and development opportunities.

B.         Community Relations

• Partner with the Flower Mound Chamber to provide programs to benefit community and economic development.

• Maintain active memberships in the community such as the Flower Mound Chamber of Commerce and Rotary, among others, and attend meetings, provide community service and share economic development updates through regular board and committee involvement.

• Actively promote community-wide events to encourage regional awareness and attendance.