New economic development policy to shape Dallas P3s, transportation goals
The Dallas City Council adopted a new Economic Development Policy on May 26 that will support local investments, job creation, corporate relocation, and equitable community development.
Dallas City Hall
One policy goal is to develop transformative mixed-use projects in proximity to universities, hospitals, and schools in Southern Dallas to foster long-term job growth. As defined in the policy, transformative projects have the capacity to both redefine areas and spur additional growth, development, and revenue for Dallas.
Through public-private partnerships (P3s), the city will identify and incentivize up to four transformative projects that include a combination of business incubation, training centers, centers of excellence/innovation, technology, commercial, retail, and diverse housing.
Another policy component encourages investment in public transportation that improves non-car access to jobs in downtown for residents of Southern Dallas.
Transportation authorities will identify transportation gaps preventing job access and study possible 21st century modalities such as bus rapid transit and shared ride hailing. In addition, they will explore funding mechanisms to meet gaps and implement promising mechanisms.
The Economic Development Policy will begin with a one-year transition period by which the city of Dallas will put in place processes and infrastructure to support the decade-long policy implementation.