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 March 2025
Thanks for subscribing to D Economy, where you will read the very latest about economic development news, events, and programs in the City of Dallas.
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D ECONOMY: NEWS
 City of Dallas Visits Beckley Avenue Corridor Businesses
On March 20th, staff from the City of Dallas Office of Economic Development (OED) joined City Council Member Carolyn King Arnold and representatives from multiple departments for a block walk along the Beckley Avenue corridor. The outreach effort aimed to connect directly with Council District 4 business owners and share details about the new Small Business Assistance Program (SBAP) and other city incentives. The SBAP provides grants to help eligible small businesses with new construction or renovation projects. By meeting face-to-face with multiple stakeholders, the team ensured business owners received personalized information and support from the City of Dallas.
Learn more about OED Incentive Programs.
 City Council Approves Funds to Further Park Acquisition in International District
On March 26, City Council voted to authorize the City’s acquisition of an approximately 1.8 acre property located at 13305 Montfort Drive in an amount not to exceed $11,310,000. This acquisition represents an important and catalytic next step in the City’s continued assembly of property needed to advance implementation of the future central park as envisioned in the City’s long-term plan (known as the Valley View-Galleria Area Plan) which was adopted by City Council in 2013 for the 450-acre area in north Dallas at I-635 and the Dallas North Tollway. The long-term plan for the area calls for a dense, mixed-use, mixed-income, and pedestrian friendly neighborhood that is anchored by a large central park. The central open space feature will be the critical key to unlocking the real economic development potential of the area and generating higher density development while also supporting a high quality of life for area residents, employees, shoppers, and other visitors. Without a central public open space, redevelopment potential of the area has been and will continue to be substantially limited. This acquisition deploys $9.5 million out of a total of $20 million that was authorized by city of Dallas voters in Park proposition B in the 2024 Bond Program specifically for this purpose. This acquisition also deploys $1.8 million from the Mall Area Redevelopment Tax Increment Financing (TIF) District, which was created by the City Council in 2014 to help implement the Valley View-Galleria Area Plan.
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SMU and UTSW Earn R1 Status
Southern Methodist University and the University of Texas Southwestern Medical Center have been awarded the Carnegie Research One (R1) classification by the Carnegie Classification of Institutions of Higher Education. R1 is the highest possible ranking for universities and indicates the schools' commitment to research funding and doctoral studies, requiring $50 million in research spending and at least 70 doctorates awarded annually. The R1 designation is excellent news not only for these universities, their students and faculty but also for Dallas and North Texas.
Incentive Inquiry Tool
Do you need help determining the best incentive program for your project?
Complete our Incentives Inquiry Tool!
Have questions about Economic Development programs?
Staff is available every third Thursday of the month during office hours between 3 p.m. and 4 p.m. for questions regarding the City's economic development tools. Join us for our next monthly meeting on April 17 at 3 p.m.
> Learn More
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