Agenda Information Sheet
DEPARTMENT: Economic Development
CM/ ACM: Bryan Langley
Date: February 21, 2017
SUBJECT
Title
Receive a report, hold a discussion, and give staff direction regarding the Stoke Denton's entrepreneur center's first year of operations and the Management Agreement between the City of Denton and the Dallas Entrepreneur Center.
Body
BACKGROUND
During the FY 2014-15 budget process, the Economic Development Department submitted a supplemental budget request entitled "Tech Denton Economic Development Initiative." The purpose of the initiative was to "foster an environment that attracts the technology industry to Denton and fosters the growth of new technology companies." The initiative was focused around four major themes: an innovation district in central Denton; "Collide Village of Denton," a live-work-learn-play transit-oriented downtown development (this portion of the initiative ultimately became The Railyard and Stoke Denton); a "tech park" in Quakertown Park with outdoor wifi; and tech events and programs. Objectives for the initiative included:
* Support entrepreneurship and innovation
* Create and retain successful innovative businesses
* Create substantial investment in Denton businesses
* Diversify and strengthen the tax base
* Develop a workforce that is agile, technologically advanced, and employable
* Increase the average household income in Denton
* Gainfully employ graduates from Denton's universities in order to keep them living and working in Denton
* Foster technology solutions to address community-wide needs
* Encourage infill redevelopment/development and revitalization
The initiative was intended to be a public-private partnership and involve stakeholders from the local technology, business, education, and nonprofit sectors. Its goal was to create a local environment in which entrepreneurs could start up and grow businesses, bringing knowledge-based, high-paying jobs to the community.
Management Agreement with th...
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