Doing Business in Fort Worth
Fort Worth is the 5th largest city in the state of Texas and serves as the seat for Tarrant County. Affectionately referred to as Cowtown, the name reflects the importance that cattle played in economic revitalization after the Civil War. The area’s attractions include the Fort Worth Zoo, Kimbell Art Museum, Texas Motor Speedway, and Fort Worth Botanic Garden. There are thousands of businesses that call Fort Worth home with a total workforce of 1.2M. The top industries include transportation, utilities, distribution, manufacturing, professional services, and healthcare services. While the business climate is certainly favorable, there are many variables to consider. To help business owners and managers, a brief overview of doing business in the city is outlined below.
Fort Worth Economic Profile
The city’s economy is composed of a diverse mix of large corporations, mid-sized entities, and small companies. Officially, there are over 135,000 small businesses and 97,800 micro-businesses operating in the city. Over the last year, the unemployment rate has continued to drop reaching 4.2% in January 2022. The top 2021 exports included integrated circuits, aircraft parts, telephones, computers, and crude petroleum. Top export partners include South Korea and Taiwan. China, Japan, and the Netherlands. The largest employers in the Dallas Fort Worth (DFW) area include Bank of America, Lockheed Martin, and Texas Health Resources.
Fort Worth Business Incentives
There are a variety of state and local tax, financing, and other incentives available to companies operating in Fort Worth. Eligibility is determined by several factors including real estate development, hiring practices, and new investments. The programs include Chapter 380 Economic Development Programs, Reinvestment Zones, Neighborhood Empowerment Zones, and Tax Abatement Programs. In addition, certain companies may qualify for the Texas Historic Preservation Tax Credit and Brownfields Economic Redevelopment.
Fort Worth Business Resources
- Company Registration – Fort Worth
- Corporate Restructuring
- Cybersecurity Consulting
- Fort Worth Economic Development
- Fort Worth Chamber of Commerce
- Outsourced Accounting Services
- Small Business Administration – Fort Worth
- Small Business Support Resources – Fort Worth
- Starting a Business in Fort Worth
- Tax Consulting
Interesting Facts About Fort Worth
- The Fort Worth Zoo which opened in 1909 was the first zoo in Texas.
- The world’s first Wash-a-Teria was launched in Fort Worth.
- Fort Worth’s Texas Motor Speedway is one of the largest in the nation seating over 155,000 spectators.
- The city is home to the oldest stock show and rodeo in the country.
There are many advantages to doing business in Fort Worth. If you have questions about a specific issue or simply need assistance with an accounting, compliance, or cybersecurity issue, Calvetti Ferguson can help. For additional information click here to contact us. We look forward to speaking with you soon.