Transportation infrastructure is an important part of advancing the North Texas economy. According to the US Economic Development Administration, economic development “creates the conditions for economic growth and improved quality of life by expanding the capacity of individuals, firms, and communities to maximize the use of their talents and skills to support innovation, lower transaction costs, and responsibly produce and trade valuable goods and services.” Public investment in transportation is one of the best ways communities can expand the capacity of North Texans to advance economically.
Coordinating land use with transportation such as in mixed-use walkable, and transit-oriented development is a key component of sustainable economic development. NCTCOG’s Transportation Department promotes and provides guidance on economic development with transportation infrastructure through strategic technical assistance, coordination with land use development opportunities, and regional planning.
North Texas cities frequently use value capture tools like Tax Increment Financing and impact fees along with Public Improvement Districts funds to partially pay for transportation projects. This regional report examines how effectively these tools have been used and recommends actions for improving their transportation funding capacity going forward.
Quick Facts on North Texas Opportunity Zones
- 9 of NCTCOG’s 12 counties contain opportunity zones
- 35 cities contain opportunity zones
- There are 635,000 acres of opportunity zones
- Estimated 258,000 people live within opportunity zones (2017 Census - ACS)
- Estimated 121,000 jobs are located within opportunity zones (2015 Census - On The Map)
Opportunity Zone Roundtable Meeting
Thursday, June 27, 2019, in the Regional Transportation Council Room, NCTCOG
OZ Investments: Building Emerging Industries
Leveraging Opportunity Zones to Rethink City Infrastructure
NCTCOG Regional Opportunity Zone Showcase
Video of June 27 Meeting
Opportunity and Revitalization Council - Housing and Urban Development Press Release
Internal Revenue Service FAQ on Opportunity Zones
NCTCOG Gentrification Study
The development of walkable urban places is on the rise throughout North Texas. The George Washington University Center for Real Estate and Urban Analysis in partnership with NCTCOG identified and analyzed 55 emerging and established walkable places which occupied only 0.12 percent of the land in North Texas but accounted for 12 percent of the regional GDP in 2018. The WalkUP Wake-Up Call: Dallas-Fort Worth report documents the growth in the market for walkability and explore issues and findings of importance to our region.
The North Central Texas Economic Development District (NCTEDD) is designated as the Regional Economic Development District for North Texas by the US Economic Development Administration. NCTEDD meets quarterly and is responsible for the regional Comprehensive Economic Development Strategy (CEDS) document for NCTCOG's 16-county region.
For communities who wish to further explore sustainable economic development and funding strategies for transportation, the following hyperlinks to toolkits, case studies, webinars, data, guides, and more may be useful.
NCTCOG 2011 Summary of various innovative financing tools for sustainable development in a comparative table:
- Table - Innovative Financing Tools for Sustainable Development
- Federal Bicycle and Pedestrian Funding Opportunities
- Economic Development Handbook (2020) | Texas Municipal League, TX (tml.org)
- Revenue Manual for Texas Cities (2021) | Texas Municipal League, TX (tml.org)
- FHWA - Center For Innovative Finance Support - Value Capture (dot.gov)
- Resources | U.S. Economic Development Administration (eda.gov)
- Resource Library - National League of Cities (nlc.org)
- Resources Archive - Smart Growth America (search Economic Development)