With initiatives to boost industry, jobs, Fort Worth becoming ‘where the tech begins’ | Opinion
North Texas has experienced explosive growth over the past few years. The Dallas-Fort Worth area grew by more than 97,000 residents in 2021 — the most of any metro area in the United States. Much of that growth is attributed to a strong tech sector that increasingly rivals Silicon Valley and attracts multimillion-dollar investments and jobs to our local economy.
The North Texas region has worked hard to transform into a burgeoning tech hub, most notably here in Fort Worth. The city joined the federally funded Smart Cities Initiative to accelerate a collaborative, tech-first strategy. As part of this effort, the North Texas Innovation Alliance works to minimize barriers that inhibit innovation, sustainability and growth through enhanced access to technology tools and public-private sector collaboration. The Fort Worth Chamber hosted a technology and entrepreneurship roundtable exploring ways to expand capital and diversify the city’s economy through an emphasis on new technologies.
The establishment of TechFW has been critical in accelerating these goals by providing the resources, education and collaboration to build an entrepreneurial ecosystem, establishing the city as a technology hub with an impact far beyond the North Texas region.
Fort Worth also made headlines last year when it partnered with Techstars — a global investment launchpad for budding start-ups — along with the University of North Texas Health Science Center (HSC), Tarrant County, and Goff Capital to establish the world’s first physical health accelerator program.
The program selected 10 early-stage startups focused on addressing global health challenges through advancements in technology, treatments and therapies. The accelerator provided a 13-week intensive program, attracting entrepreneurs from across the globe to Fort Worth and providing them with hands-on mentorship and access to a vast network in the DFW area.
With the first cohort successfully underway, Techstars FW recently launched its second iteration, with applications quadrupling in size from the previous year. The new cohort will be the first to occupy the new CreateFW co-working and entrepreneurship space.
These collaborations have given entrepreneurs incentive to call Fort Worth home and put the city on the national and global stage as a leading incubator for emerging tech. Companies from California to Ireland are choosing to move their headquarters to DFW, bringing myriad opportunities to local residents. This has led to steady job growth at major tech companies and a healthy community of smaller businesses and startups.
Our city is the perfect place for such growth. Companies can tap into a large workforce while cutting operational costs. Workers have the opportunity to take advantage of a hybrid work environment, as many companies have regional offices located here. A recent “State of the Tech Workforce” report lauded the DFW area as a national leader in driving tech and the workforce.
The city’s investments towards a booming, innovative tech industry have paid off. The Dallas-Fort Worth economy fared better than most regions during the COVID-19 pandemic, recouping lost jobs faster than nearly all other large metro areas. The city even gained market share in the first year of the pandemic, and tech sector jobs grew faster than the national average.
The tech sector has demonstrated itself to be crucial to the success of our city, and it is our responsibility to ensure that this aspect of our economy is supported and protected. These companies provide tools and resources for small businesses that drive growth and diversity in our community. We must continue to invest in them so they, in turn, invest in us.
We also share this responsibility with our local, state, and national leaders. Our representatives should support policies that keep barriers to entry low and resources and services accessible. Our leaders should oppose legislation and lawsuits that attack the tech sector and the cities like ours that rely on the fruits of their success.
Fort Worth will continue to welcome tech companies with open arms so that our city can continue to expand our reputation as a hub for technology and innovation. The city known as “Where the West Begins” is a place where innovation never ends — it is our job to keep pioneering a pro-tech future.
This story was originally published October 13, 2023 at 5:31 AM.