A vibrant, sustainable economy offering diverse business opportunities, thriving neighborhoods, premier attractions, reliable city services, and quality infrastructure is essential to a city’s quality of life.
The OED works toward this vision by stimulating economic development and leading the City‘s business and real estate development efforts. Our staff facilitates access to City programs and services that assist business expansion and/or relocation. Our economic development program focuses on Corporate Site Selection, Business Expansion and Retention, Retail Recruitment and Development, Redevelopment Initiatives, International Business Development, SourceLinkDallas and Small and Minority Business Assistance.
- Qualified Requests for Information completed: 44
- Private investment leveraged: $298,300,000
- New developments and projects: 20
- New jobs created or retained: 4,584
Both Active Network and Omnitracs relocated their headquarters from San Diego to downtown Dallas in the KMPG Centre building at 717 N. Harwood St. Active Network is creating one thousand new jobs and investing at least $3 million. Omnitracs is creating at least 450 new jobs and investing a minimum of $3 million.
- Total private investment committed in TIF Districts: $602,782,303
- Total public funds committed to development projects in TIF districts: $137,208,066
- New TIF projects for Council consideration: 16
- Residential units added downtown: 267
- Phase I of the Cypress Waters project is nearly complete and includes 673 residential units worth an estimated $45 million. Phase II, a multi-phased office project, is under construction, and the first 521,000 square feet of office space is expected to be complete in December 2014. An additional 141 residential units and a new office building are expected to start construction in 2015.
- More than 880,000 square feet of office and another 500 residential units are expected to be complete in the next five years. Nationstar Mortgage and Meritage Homes are the first corporate tenants in the Dallas portion of the development.
- The Mall Area Redevelopment TIF District was created in May 2014; representing the City’s effort to establish a funding mechanism to stimulate private investment and sustain orderly redevelopment and revitalization of the Valley View Center Mall and the Southwest Center Mall areas. Valley View Center Mall will be anchored by a large central park, have higher density mixed-use development, will be connected by walkable streets and link to the DART light rail network.
- A total of 10% of the annual TIF increment generated in the Valley View-Galleria Mall area will be used to encourage redevelopment in the Southwest Center Mall area.
The total impact of the Kay Bailey Hutchison Convention Center Dallas (KBHCCD) to the local economy was $699,974,615 with $393,210,133 direct dollars attributable to the facility in FY13-14. The convention center hosted shows as large and as varied as the National Baptist Congress of Christian Education (60,000 attendees); Mary Kay Annual Seminar (40,000 attendees); and the Great American Trucking Show (30,000 attendees).
Signature events included Dallas Comic-Con; DFW Auto Show; and the two-day concert, Lights All Night. The KBHCCD was also home to conventions for the American Heart Association; Travel & Adventure Expo; Southwest Dental Conference; Fire Rescue International; NCAA Bracket Town; and LEGO KidsFest.
In total, 133 events were booked at the convention center, a 26% increase over FY12-13. More than one million people attended events, which led to FY13-14 revenue exceeding projections by 20.52%.
- The Dallas Film Commission facilitated 523 film, television and related creative media projects. Direct spending from these projects is estimated at $108.1 million with an economic impact of $251 million.
- A wide range of diverse films were shot in Dallas in 2014, including: The Virtuoso, Don’t Look in the Basement 2, Steps of Faith, Carter High School and All American, shot at Cotton Bowl Stadium.
Trinity Corridor Project
During this year’s tour of the winning images, The Trinity: Reflections of a River, the exhibit was on display for 17 weeks at the Latino Cultural Center, NorthPark Center, Southside on Lamar’s Janette Kennedy Gallery, and Dallas Love Field’s Travelers Gallery. An estimated 250 people participated by submitting photos and 625,000 people viewed the images.
As part of the planning initiative, two parallel efforts, an Open stream and a Professional stream, were launched to generate ideas about how to connect downtown Dallas and the Trinity River. Open Stream generated more than 100 ideas from 23 countries and three professional teams were invited to submit detailed concepts. The submissions brought numerous creative ideas which were shared with more than 1,200 citizens through public lectures and a symposium. A traveling gallery showcasing the professional submissions was also displayed at the Dallas Museum of Art.
In early 2014, the preferred Professional submission, themes among the designs and six ideas were recommended for implementation. Work has begun on the ideas, which represent a cohesive and effective framework to unify downtown and the river.
CityDesign Studio also received the Community Honors Award from AIA Dallas in recognition of service to the profession and the community.
The City’s trail system expanded with the completion of the Lake Highlands and Trinity Skyline Trails. At just over one mile in length, the Lake Highlands Trail follows an ONCOR transmission corridor from Lake Highlands High School to Ferndale Road in Northeast Dallas. Future expansions will extend the trail south and west, connecting to the White Rock Creek Trail. Trinity Watershed Management built the 4.6 mile Trinity Skyline Trail with alignments along the Trinity River. Located on both sides of the Trinity River, the Trinity Skyline Trail extends from Sylvan Avenue to Commerce with connections at Trammell Crow Park, Continental Bridge West Dallas Gateway, Commerce Street near Riverfront Boulevard, and at the Trinity Overlook at Commerce Street and Beckley Avenue. A future planned expansion will complete the trail from Commerce Street to I35E; and to the north extending it to the City of Irving
Implementing the City’s on-street bicycle network continues with more than 18 miles of on-street bicycle routes in Central Dallas already in place. These routes include shared lane markings, dedicated bicycle lanes, and a cycle track across the Jefferson Viaduct. Fifty additional miles of on-street routes are in development and will be installed over the coming weeks and months.
Bike lanes will soon be added to Sylvan Avenue from Kessler Parkway to Canty, and on McMillan from Ellsworth to Henderson. Shared lane markings on Swiss Avenue will create a bicycle route from East Dallas to Deep Ellum, while markings on Fairmount and Holland will create a route between Uptown and Oaklawn. Residents living near Fair Park will also benefit from the growing network with bike lanes on Lagow connecting the neighborhood to Fair Park.
With almost 100 miles of new trails and on-street bike routes in development, or under construction, the Dallas Bikeway System is poised for rapid expansion.