Q&A: The Fort Worth Chamber pushing to be more proactive in recruiting, diversifying local economy
By Spencer Brewer – Staff Writer, Dallas Business Journal
The Fort Worth Chamber of Commerce is implementing measures to become proactive in scouting out companies, aiming to diversify the city with additional office jobs.
The Fort Worth Chamber has racked up 72 projects in the past five years, generating $2.5 billion in capital investment. Going forward, the chamber is taking measures to allow the organization to be more aggressive in recruiting companies.
The Fort Worth Chamber currently has 177 projects in the pipeline. The city has seen significant wins over the last year, including MP Materials’ forthcoming facility in north Fort Worth.
While the city’s growth track has been outstanding, the area needs to diversify to weather economic uncertainty, said Brandom Gengelbach, president of the Fort Worth Chamber.
“We love industrial. It’s our bread and butter,” he said. “It’s a huge asset for us, and we’re going to continue to push hard for that and be very blessed. It’s a big, distinguishing characteristic of Fort Worth. However, we do need office jobs.”
The Fort Worth Chamber is taking several measures to become more proactive. For starters, it’s leveraging fundraising efforts into increased scouting for potential companies. The chamber also uses regional partnerships and local ties to business leaders.
“We have asked GM Financial, Alcon, BNSF, Bell, Hillwood, American Airlines, to step up in a greater way, and they have,” Gengelbach said. “And it’s not just financially. We’re asking them to step up with the knowledge and relationships that they have.”
Last year, the city of Fort Worth created an economic development fund. This funding source can help incentivize companies from target industries to make a move over to Fort Worth.
Gengelbach spoke with the Dallas Business Journal about how the Fort Worth Chamber is working on getting more proactive and what it will take for the city to diversify.
What are the driving factors behind getting more proactive in recruitment?
I feel like there’s an opportunity for us to be much more strategic in identifying the companies that we want here and go after them, not just waiting to see who knocks at the door. When you’ve just answered the door, you’re basically answering market-driven economic development.
The beauty for us is that we’re able to help all these companies and create economic growth for the Fort Worth region. The bad news is it may or may not be all the businesses you want to have in a vibrant, diversified economy. For us specifically, we’re too heavy on industrial.
Finish the interview at Dallas Business Journal.