Item 6 - ED Master Plan AddendumE conomic DEvElopmEntmastEr p lan
a DDE n D um to th E s outhlak E 2035
E conomic D E v E lopm E nt m ast E r p lan
Adopted by the Southlake City Council on MONTH DAY, 2021
Ordinance No. ####
Prepared by
City of Southlake Department of Economic Development & Tourism
Page 3
The City adopted its first Economic Development & Tourism Master Plan in 2011. In 2016, following a
thorough review and assessment of economic development needs and priorities, the Southlake Community
Enhancement and Development Corporation (CEDC) recommended adoption of an updated economic
development master plan to guide the City’s next phase of strategic economic development efforts. The
Southlake City Council approved adoption of the updated plan in October 2016 as an element of the City’s
Southlake 2035 Comprehensive Plan and since its adoption, City staff has worked in partnership with the
CEDC and City Council to implement the plan’s recommendation.
Though the recommendations continue to be implemented, the unprecedented COVID-19 pandemic that
began to be felt by Southlake in 2020, required the City to reassess its economic strategies and priorities
to assist businesses and support Southlake’s economic recovery. The long term impacts of the COVID-19
outbreak on Southlake’s business community and economy remain to be seen and fully understood. It is
critical however to take steps quickly to respond to what is known to strategically guide the City’s economic
development response and recovery efforts.
As such, City of Southlake City Council developed this addendum to the master plan to address the
community’s short term needs and begin looking at recovery efforts. This addendum serves to supplement
the City’s existing Southlake 2035: Economic Development Master Plan. While the existing recommendations
and strategies of the current master plan serve the City well and help achieve its larger economic goals, the
recommendations and strategies established in this addendum will help address both the short-term and
long-term economic challenges of the pandemic.
This addendum guides the City to: identify critical pain points in industries and shopping destinations,
engage local businesses to boost local hiring and address hiring needs, engage anchors in long-term local
economic recovery efforts, effectively communicate Southlake’s advantageous location and business-friendly
environment, capitalize on open public spaces as an asset to support local businesses, develop initiatives
geared towards health and safety, prepare for a more long-term remote work environment, create a support
system for remote workers to engage and connect them to the local community, focus talent recruitment efforts,
mobilize financial assistance, develop creative economic solutions, assist in protecting front line service
employees and visitors, and focus local efforts on industries impacted by the pandemic most significantly.
Southlake Economic Development Strategic Goals
The City of Southlake has ongoing strategies and priorities in place that will assist in further development of
a successful economic development program; however, recognizing the current situation requires specific
responses to unique and emerging circumstances, the following goals and outcomes were developed to
guide the City’s economic recovery response efforts. If successful, Southlake’s recovery efforts will:
OVERVIEW
Southlake 2035
Economic Development Master Plan Addendum
Ordinance No. ???, Adopted on [date]
Page 4
2020 Addendum Adoption Process
It is important to recognize that a great deal of evaluation, analysis and consideration was done by the CEDC
Board of Directors and the Southlake City Council with the development of the Economic Development
Master Plan in 2016. Taking those efforts into consideration, this addendum was developed utilizing the
framework of the original plan. Consideration of key economic development principles such as Business
Attraction, Business Retention, Public Investment and Communication / Marketing were also used to guide
the efforts in this addendum.
With feedback provided by the Economic Recovery Task Force and data observed since the onset of the
pandemic, staff developed strategies and recommendations to address both the short-term and long-term
community needs. The economic health indicators (shown on the next page) were also evaluated and
Grow the Economy
Achieve economic prosperity through tax
and employment base growth, attracting
investment of private capital into our economy
that grows jobs, creates opportunity, increases
tax revenue.
Collaborate for Success
The business community, in partnership with
the City, will nurture the growth and prosperity
of Southlake businesses.
Support Businesses
Southlake is recognized as a city where the
business community is valued and nurtured
through support services which are relevant,
helpful, welcoming and delivered in a timely
manner with superior customer service
Promote Tourism
Southlake is recognized, both nationally and
regionally, as a great place to visit for shopping,
dining, recreation and overnight stays.
Elevate the Southlake Brand and
Value Proposition
Southlake is recognized as a vibrant
community where businesses thrive.
Improve Local Economic Health
Economic health metrics (or indicators) will
equal or exceed pre-COVID19 levels.
Page 5
considered during the development of these recommendations of this addendum. These economic health
indicators also helped establish a baseline to understand and interpret the recovery efforts being implemented.
As the City implements these addendum recommendations, the City’s economic health indicators will serve
as the compass in ensuring Southlake is returning to pre-pandemic levels and headed towards sustainable
economic growth.
Community Enhancement and Development Corporation (CEDC)
On September 22, 2020 City staff presented a draft of the proposed strategic goals, recommendations, and a
timeline for approval of the addendum to the board. The board provided feedback to City staff, modifications
to the priority tiers and some adjustments to the language of some of the recommendations.
On January 26, 2021 City staff presented the proposed Economic Development Master Plan Addendum to
the CEDC. The board recommended approval (7-0) of the Addendum as presented.
Southlake Program for the Involvement of Neighborhoods (SPIN)
On October 27, 2020 City staff presented an overview of the strategies and recommendations of the Economic
Development Master Plan Addendum to the community. The recording of this presentation can be found on
the City of Southlake’s website under Video-On-Demand.
Foreclosure Rates
Commercial Occupancy
Commercial Permits
New Business Openings
Business Survival Rates
Sales Tax Revenue
Industry Sales Data
Employment
Daytime Population
Hotel Occupancy
Hotel ADR
E c O n O m I cHEaltH I nd I cat OR s
Southlake 2035
Economic Development Master Plan Addendum
Ordinance No. ???, Adopted on [date]
Page 6
Planning & Zoning Commission
Reserved for the motion of the Planning & Zoning Commission scheduled for February 4, 2021.
City Council
Reserved for the motion of the City Council
Page 7
Plan
ID Guiding Principle /Vision Goal Statements Implementation
Strategies Fiscal Year
No.
Broad statements that establish
desired outcomes and guide
policy, ordinances and activity
More detail for the Principle
/ Vision states regarding
what is to be achieved
Ground level-specific tactics
to achieve goals
Establishes
time frame for
implementation
EDA1
Grow the Economy: Achieve
economic prosperity through tax
and employment base growth,
attracting investment of private
capital into our economy that
grows jobs, creates opportunity,
increases tax revenue Improve and strengthen
existing commercial
retail centers and office
developments
Utilizing relevant economic
health data, evaluate
Southlake’s commercial
centers and work with
property owners to identify
challenges and potential
solutions to filling vacant
spaces in the post-pandemic
economic environment
FY 2022
EDA2
Improve Local Economic Health:
Economic health metrics will
equal or exceed pre-COVID19
levels
Assess the business
environment for surviving
businesses and industries,
identifying locations that
have become most impacted
and incorporate into the
commercial site assessments
for implementation
FY 2021
EDA3
Support Businesses: Southlake
is recognized as a city where the
business community is valued
and nurtured through support
services which are relevant,
helpful, welcoming and delivered
in a timely manner with superior
customer service
Create an environment that
encourages, values and
supports entrepreneurship
and builds value from
within by supporting those
businesses or assets who
have been a contributor to
our community
Partner with local businesses
and organizations to sponsor
informal classes or lectures
related to entrepreneurship
FY 2022
EDA4
Grow the Economy: Achieve
economic prosperity through tax
and employment base growth,
attracting investment of private
capital into our economy that
grows jobs, creates opportunity,
increases tax revenue
Support industry sectors
that are innovative and
have high job growth,
high value potential to
provide future economic
development opportunities
Re-evaluate the market
to understand changes or
additions to target industries
and develop specific
strategies for each targeted
sector. Document in target
market analysis worksheets
FY 2022
l O cal ma RKE t &
BU s I n E ss att R act IO n
Southlake 2035
Economic Development Master Plan Addendum
Ordinance No. ???, Adopted on [date]
Page 8
Plan
ID Guiding Principle /Vision Goal Statements Implementation
Strategies Fiscal Year
No.
Broad statements that establish
desired outcomes and guide
policy, ordinances and activity
More detail for the Principle
/ Vision states regarding
what is to be achieved
Ground level-specific tactics
to achieve goals
Establishes
time frame for
implementation
EDA5
Collaborate for Success:
The business community,
in partnership with the City,
will nurture the growth and
prosperity of Southlake
businesses
Support regional
workforce attainment and
development
Conduct an evaluation of
workforce needs and develop
a plan that identifies needs
and strategies (such as
targeted job fairs) that support
developing the local workforce
in alignment with identified
needs
FY 2024
EDA6
Support Businesses: Southlake
is recognized as a city where the
business community is valued
and nurtured through support
services which are relevant,
helpful, welcoming and delivered
in a timely manner with superior
customer service
Support regional
workforce attainment and
development
Update the business
resource center materials
to provide quick, easy
access to workforce needs,
opportunities using the
feedback obtained from the
annual business climate
survey and other feedback
received from top employers
FY 2022
EDA7
Collaborate for Success:
The business community,
in partnership with the City,
will nurture the growth and
prosperity of Southlake
businesses
Develop a workforce needs
assessment and work with
higher education/technical
institutions to implement
training and education needs
of Southlake businesses
FY 2023
Page 9
I n VE stm E nt OF PUB l I c FU nds
(E c O n O m I c I nc E nt IVE s )
Plan
ID Guiding Principle /Vision Goal Statements Implementation
Strategies Fiscal Year
No.
Broad statements that establish
desired outcomes and guide
policy, ordinances and activity
More detail for the
Principle / Vision states
regarding what is to be
achieved
Ground level-specific tactics
to achieve goals
Establishes
time frame for
implementation
EDA8
Collaborate for Success:
The business community,
in partnership with the City,
will nurture the growth and
prosperity of Southlake
businesses
Identify and respond to
gaps in state and federal
business aid programs
related to COVID-19
recovery that can
reasonably be filled by the
City of Southlake
Create an economic
recovery small business
grant program that supports
achievement of economic
health goals
FY 2021
EDA9
Collaborate for Success:
The business community,
in partnership with the City,
will nurture the growth and
prosperity of Southlake
businesses
Create a marketing matching
program for Southlake
hotels, funded through the
Hotel Occupancy Tax Fund
FY 2021
EDA10
Support Businesses: Southlake
is recognized as a city where the
business community is valued
and nurtured through support
services which are relevant,
helpful, welcoming and delivered
in a timely manner with superior
customer service
Serve as a connector
to aid small businesses
seeking assistance
through local, state and
federal programs.
Execute a direct marketing
and outreach strategy
to local businesses and
entrepreneurs to ensure they
are aware of federal, state
and local programs
FY 2021
EDA11
Support Businesses: Southlake
is recognized as a city where the
business community is valued
and nurtured through support
services which are relevant,
helpful, welcoming and delivered
in a timely manner with superior
customer service
Identify non-monetary
incentives that can
support continued
business growth
Evaluate local regulations
that have been temporarily
adjusted during the
pandemic and make
recommendations regarding
ongoing practices to ease,
where it makes sense, local
regulations (short-term)
FY 2021
Southlake 2035
Economic Development Master Plan Addendum
Ordinance No. ???, Adopted on [date]
Page 10
Plan
ID Guiding Principle /Vision Goal Statements Implementation
Strategies Fiscal Year
No.
Broad statements that establish
desired outcomes and guide
policy, ordinances and activity
More detail for the
Principle / Vision states
regarding what is to be
achieved
Ground level-specific tactics
to achieve goals
Establishes
time frame for
implementation
EDA12
Support Businesses: Southlake
is recognized as a city where the
business community is valued
and nurtured through support
services which are relevant,
helpful, welcoming and delivered
in a timely manner with superior
customer service
Identify non-monetary
incentives that can
support continued
business growth
Evaluate local ordinances
for changes and relief for
accommodation, retail and
restaurant industries
(long-term evaluation of
needs)
FY 2023
EDA13
Support Businesses: Southlake
is recognized as a city where the
business community is valued
and nurtured through support
services which are relevant,
helpful, welcoming and delivered
in a timely manner with superior
customer service
Collaborate with internal
stakeholders to provide
enhanced customer services
for permitting (such as online
services) based on feedback
received from end-users
FY 2021
EDA14
Collaborate for Success:
The business community,
in partnership with the City,
will nurture the growth and
prosperity of Southlake
businesses
Work with larger businesses
to promote the purchasing
of local goods and services,
using the size and scale of
these businesses to increase
demand for local goods and
services
FY 2023
Page 11
BU s I n E ss RE t E nt IO n
& EXP ans IO n
Plan
ID Guiding Principle /Vision Goal Statements Implementation
Strategies Fiscal Year
No.
Broad statements that establish
desired outcomes and guide
policy, ordinances and activity
More detail for the
Principle / Vision states
regarding what is to be
achieved
Ground level-specific tactics
to achieve goals
Establishes
time frame for
implementation
EDA15
Support Businesses: Southlake
is recognized as a city where the
business community is valued
and nurtured through support
services which are relevant,
helpful, welcoming and delivered
in a timely manner with superior
customer service
Increase collaboration,
coordination and
communication between
the City and the business
community
Form an Economic
Recovery Task Force with
local representatives of the
business community and
their respective industries
focused on advising and
providing feedback on the
City’s recovery efforts
FY 2020
EDA16
Support Businesses: Southlake
is recognized as a city where the
business community is valued
and nurtured through support
services which are relevant,
helpful, welcoming and delivered
in a timely manner with superior
customer service
Leverage business expertise
of the CEDC Board of
Directors to establish
Southlake-centric round-
tables to discuss relevant
business and economic
issues
FY 2021
EDA17
Elevate the Southlake Brand and
Value Proposition: Southlake
is recognized as a vibrant
community where businesses
thrive
Launch an open for business
campaign in partnership
with the local stakeholder
groups that highlights local
businesses
FY 2023
EDA18
Support Businesses: Southlake
is recognized as a city where the
business community is valued
and nurtured through support
services which are relevant,
helpful, welcoming and delivered
in a timely manner with superior
customer service
Develop non-visitation
methods to enable
additional communication
and feedback from
business
Execute a survey that
assesses the impact
of COVID-19 on local
businesses in order to
develop strategies to assist
in economic recovery of the
community
FY 2020/2021
Southlake 2035
Economic Development Master Plan Addendum
Ordinance No. ???, Adopted on [date]
Page 12
Plan
ID Guiding Principle /Vision Goal Statements Implementation
Strategies Fiscal Year
No.
Broad statements that establish
desired outcomes and guide
policy, ordinances and activity
More detail for the
Principle / Vision states
regarding what is to be
achieved
Ground level-specific tactics
to achieve goals
Establishes
time frame for
implementation
EDA19
Support Businesses: Southlake
is recognized as a city where the
business community is valued
and nurtured through support
services which are relevant,
helpful, welcoming and delivered
in a timely manner with superior
customer service
Develop non-visitation
methods to enable
additional communication
and feedback from
business
Contact local businesses
annually, obtaining
informational updates
through the City’s newly
adopted economic
development software
FY 2021
EDA20
Promote Tourism: Southlake
is recognized, both nationally
and regionally, as a great place
to visit for shopping, dining,
recreation and overnight stays
Collaborate with tourism
partners to emphasize
Southlake’s unique and
valued experiences
Work with local hotels
to establish a recovery
marketing campaign that
rebuilds trust in the local
hospitality industry
FY 2022
EDA21
Support Businesses: Southlake
is recognized as a city where the
business community is valued
and nurtured through support
services which are relevant,
helpful, welcoming and delivered
in a timely manner with superior
customer service
Customize city-services
to business and customer
needs
Identify needs and create
a service palette that offers
specialized data analysis
services to businesses,
featured on SelectSouthlake.
com
FY 2021
EDA22
Support Businesses: Southlake
is recognized as a city where the
business community is valued
and nurtured through support
services which are relevant,
helpful, welcoming and delivered
in a timely manner with superior
customer service
Utilizing survey, economic
data and business visit
feedback, annually evaluate
business assistance needs
and services and provide
website updates (such as the
Business Resource Center)
to meet those needs
FY 2022
EDA23
Support Businesses: Southlake
is recognized as a city where the
business community is valued
and nurtured through support
services which are relevant,
helpful, welcoming and delivered
in a timely manner with superior
customer service
Continue the recruitment/
expansion of local
businesses and market the
participation of those local
businesses through paid,
social media and website
communication channels
FY 2021
EDA24
Collaborate for Success:
The business community,
in partnership with the City,
will nurture the growth and
prosperity of Southlake
businesses
Promote and facilitate
networking opportunities
for local business owners
(including opportunities
that consider social
distancing practices)
Work with the Chamber
of Commerce to provide
opportunities through the
year for businesses to
engage that also include
non-physical attendance
(virtual)
FY 2022
Page 13
c O mm U n I cat IO n , ma RKE t I n G
and PUB l I c RE lat IO ns
Plan
ID
Guiding Principle /
Vision Goal Statements Implementation
Strategies Fiscal Year
No.
Broad statements
that establish desired
outcomes and guide policy,
ordinances and activity
More detail for the Principle /
Vision states regarding what is
to be achieved
Ground level-specific tactics
to achieve goals
Establishes
time frame for
implementation
EDA25
Elevate the Southlake
Brand and Value
Proposition: Southlake
is recognized as a
vibrant community where
businesses thrive
Communicate the advantages
of Southlake’s location,
workforce and business
community
Implement an annual,
comprehensive
communication and
marketing plan that promotes
Southlake’s premier location,
workforce and world class
business community.
FY 2021
EDA26
Elevate the Southlake
Brand and Value
Proposition: Southlake
is recognized as a
vibrant community where
businesses thrive Position Southlake as the first
choice for location of targeted
industries
Advertise Southlake’s
premier location and
showcase available land
sites and commercial space
opportunities through
communication channels
such as e-blasts, social
media and website featuring
FY 2021
EDA27
Elevate the Southlake
Brand and Value
Proposition: Southlake
is recognized as a
vibrant community where
businesses thrive
Develop target industry
profiles that promote
Southlake and communicate
our advantageous location,
economy and community
FY 2022
EDA28
Elevate the Southlake
Brand and Value
Proposition: Southlake
is recognized as a
vibrant community where
businesses thrive
Support business success
by increasing awareness of
and appreciation for new and
existing businesses through
promoting business openings,
highlighting unique and/or
interesting existing businesses
and featuring engagement
efforts with businesses and
strategic partners.
Promote new businesses
through the publication
of a redesigned New Biz
List blog that includes new
businesses, relocations
and expansion highlights;
selected grand openings, etc.
FY 2021
Southlake 2035
Economic Development Master Plan Addendum
Ordinance No. ???, Adopted on [date]
Page 14
Plan
ID Guiding Principle /Vision Goal Statements Implementation Strategies Fiscal Year
No.
Broad statements that establish
desired outcomes and guide
policy, ordinances and activity
More detail for the
Principle / Vision
states regarding what
is to be achieved
Ground level-specific tactics to
achieve goals
Establishes
time frame for
implementation
EDA29
Elevate the Southlake Brand and
Value Proposition: Southlake
is recognized as a vibrant
community where businesses
thrive
Increase brand
recognition
and audience
engagement
Successfully launch a newly
redesigned website and promote
it and the services it offers in
its first year of launching using
organic, paid and media content
opportunities
FY 2021
EDA30
Support Businesses: Southlake
is recognized as a city where the
business community is valued
and nurtured through support
services which are relevant,
helpful, welcoming and delivered
in a timely manner with superior
customer service
Create a newsletter and publish on
established schedule in addition
to communicating “breaking news”
related to development and local
businesses (ongoing engagement)
FY 2021
EDA31
Support Businesses: Southlake
is recognized as a city where the
business community is valued
and nurtured through support
services which are relevant,
helpful, welcoming and delivered
in a timely manner with superior
customer service
Establish a strategy and
supportive video library that
highlights and promotes local
businesses, business partners
and notes why businesses choose
(select) Southlake that is updated
annually
FY 2022
EDA32
Elevate the Southlake Brand and
Value Proposition: Southlake
is recognized as a vibrant
community where businesses
thrive
Establish and maintain content
standards for website and social
channels (Facebook cover image
changes, website content review /
update schedule, etc.)
FY 2022
EDA33
Promote Tourism: Southlake
is recognized, both nationally
and regionally, as a great place
to visit for shopping, dining,
recreation and overnight stays
Position the City as
the perfect location
to visit for positive
experiences
Support local businesses through
the implementation of a marketing
campaign targeted to visitors,
highlighting specific businesses
that draw larger volumes of
people.
FY 2022
EDA34
Promote Tourism: Southlake
is recognized, both nationally
and regionally, as a great place
to visit for shopping, dining,
recreation and overnight stays
Develop and implement an open
for business marketing campaign
to promote the City’s retail and
restaurant industries
FY 2022
EDA35
Promote Tourism: Southlake
is recognized, both nationally
and regionally, as a great place
to visit for shopping, dining,
recreation and overnight stays
Promote Southlake as an ideal
location for a weekend getaway
and overnight business travel
through the execution of a
marketing campaign focused on
inspiring confidence in travel and
targeted to visitors that visit the
region most frequently
FY 2022