Forward Wichita Falls report points to long-term growth

WICHITA FALLS, Texas (KAUZ) - The city is getting a closer look at its economic future; Forward Wichita Falls has released a new report highlighting how investment and job growth are shaping the community.

The impact analysis report offers a behind-the-scenes look at what’s driving that growth and leaders said the progress happening now could carry into the next decade on deals already announced.

“We run an impact analysis report on every deal already announced that were brought to 4A and city council for an incentive package, so we also do it year over year to make sure that the money that is being invested in us is producing results,“ Forward Wichita Falls CEO Moriah Williams said.

A new three-year report from Forward Wichita Falls breaks down new business investments, job creation, and how those projects are beginning to generate tax revenue for the city.

Leaders said the focus is on making strategic investments that deliver long-term results.

“When we build it out, we actually put in the modeling for the investment that the city invests in us so the budget that was given to us by city council, we put that amount in. Then we run it against the investment coming in, mixed with the jobs and the wages that they’re paid. What that shows is the return on investment for the work we are doing is paying out tenfold,“ Williams said.

Williams said that return is already showing up locally.

Projects like Amazon are now giving back to the community supporting areas like education and local services.

“The biggest example here would be that Amazon gave WFISD Foundation $10,000 for training with students. I think it went to a scholarship fund. So that investment; they bought land from us. They did not get any incentives; they did not get any tax abatements. They wanted to be here and invest in this community. And they’re doing so by also investing in our students,“ Williams said.

While some of the biggest returns will take time, leaders said early indicators point to sustained growth.

They estimate hundreds of millions of dollars could flow back into local tax systems, including a significant boost for area schools.

“I think you’ll see it’s several hundred millions of dollars just in taxes alone. The ISD I think was over $500 million that’s anticipated to collect for the ISD so really more than anything, it’s momentum. It’s turning a page for a stagnant community and just...it is the kickoff for the growth that we’re about to see,“ Williams said.

Forward Wichita Falls leaders wants the community to stay informed and involved.

They encourage residents to reach out with questions with email and phone calls being the best ways to connect.

Visit the galleries below to view the full reports.