Fort Worth, Texas, is making waves in economic development, with 2024 proving to be a banner year.
The city saw $2 billion in capital investments and the creation of approximately 2,500 new jobs. This growth, driven by projects like the $630 million expansion of the historic Fort Worth Stockyards and a state-of-the-art Bell aircraft parts factory, underscores the city’s appeal to businesses and residents alike.
According to Robert Sturns, Fort Worth’s director of economic development, the influx of investments builds on a similar $2 billion achievement in 2023, solidifying the city’s reputation as a dynamic growth hub, reported WFAA.
Sturns admitted initial doubts about 2024’s prospects due to broader economic uncertainties. However, the year surpassed expectations, with deal flow remaining robust. The Bell expansion emerged as a standout project, representing Fort Worth’s first Jobs, Energy, Technology, and Innovation Act (JETI) award collaboration with state partners. Meanwhile, the Stockyards’ second-phase development further enhances the area’s cultural and economic value, signaling sustained confidence from developers and existing businesses in Fort Worth’s potential.
The city’s population growth and strategic location continue to attract a mix of expanding local enterprises and new arrivals. Fort Worth remains the fastest-growing large city in Texas and the U.S., making it an appealing destination for business investments, per WFAA. This dual dynamic has positioned the city as a leader in balancing legacy projects like the Stockyards with innovative, forward-looking developments like Bell’s high-tech manufacturing plant.
One setback, however, came with the announcement of Dickies, a 100-year-old Fort Worth company, moving its headquarters to California. Acquired by VF Corp., the decision was reportedly driven by financial restructuring rather than local dissatisfaction. While disappointing, Sturns noted that the departure wasn’t indicative of broader trends and highlighted Fort Worth’s strong performance in retaining and attracting major business players.
Looking ahead, Sturns remains cautiously optimistic for 2025, acknowledging potential uncertainties, such as the impact of tariffs and global economic shifts. He anticipates clearer trends by the year’s first quarter but is buoyed by the city’s established momentum and ability to adapt to challenges, reported WFAA.