From
Marty Wieder
Title
Resolution Establishing the City of Grand Prairie's Chapter 380 Economic Development Program
Presenter
Marty Wieder, Director of Economic Development
Recommended Action
Approve
Analysis
The City originally created an Office of Economic Development more than 20 years ago to oversee economic development programs authorized by Texas law and approved by the City Council. Included among those programs are ones authorized by Chapter 380 of the Texas Local Government Code (the “Program”), to promote state and local economic development and to stimulate business and commercial activity in the City. Grand Prairie has determined that this Program will directly establish a public purpose- and that all transactions involving the use of public funds and resources in the establishment and administration of the Program as authorized will promote state and local economic development and will stimulate and promote business and commercial activity in the City.
The City of Grand Prairie operates an Economic Development Program which seeks to build wealth and create a sustainable economic environment in and around the City limits. Among other objectives, the Grand Prairie Economic Development Program:
Ø Encourages a positive, business-friendly atmosphere-which permits all City Departments entrepreneurial opportunities to help foster and expedite new investments and projects;
Ø Seeks to remove obstacles toward property acquisition, investment, construction and safe operations;
Ø Builds on and maximizes the City’s aviation, aerospace and automotive research, design and component manufacturing or assembly history;
Ø Capitalizes on Grand Prairies’ location in the middle of 8+ million people in North Central Texas.
The City of Grand Prairie Economic Development Program utilizes several tools to facilitate wealth creation, investment, applied technology, well-paying careers and sales tax revenue generating ventures; including:
Ø Chapter 312 Tax A...
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