The Fort Worth Chamberletter

In the Works

Leading Edge Aviation Services’ new plant at Fort Worth Meacham Airport is gearing up to handle all of the painting on new 787 Dreamliner airplanes. The aircraft will be built by Boeing at its South Carolina factory. Star-Telegram, January 22, 2012

Bell Helicopter has announced it will soon unveil its new commercial helicopter, known until now as the Magellan project. The new project will officially be called the Bell 525 Relentless. The helicopter will be officially unveiled at the helicopter industry trade show in February. Star-Telegram, January 27, 2012

 Village Homes, based in Fort Worth, has started construction on the first phase of Museum West Townhomes. The project is a 12-unit project on Tulsa Way, one block south of Camp Bowie Boulevard in the city’s Cultural District. Star-Telegram, January 2, 2012

Costa Azul, located at 1521 N. Main Street, is gradually being turned into a replica of the popular Sundance Square saloon and burger joint Billy Miner’s. The newly renovated restaurant will change its name to Billy Miner’s Stockyards. Construction is expected to be completed by April or sooner. Star-Telegram, January 12, 2012

Mercantile Center is set to expand by two buildings in 2012. Mercantile Partners LP will break ground later this month on the two office/warehouse buildings at Mercantile Center. Each building will be 94,000 square feet. Fort Worth Business Press, January 13, 2012

Lockheed Martin, based in Fort Worth, has been invited by the government of South Korea to submit proposals for a next generation fighter jet. Lockheed Martin was invited along with Boeing and EADS to submit proposals for the contract. Among the planes likely to be in contention for the bid is Lockheed’s F-35 Lightning II. Dallas Business Journal, January 30, 2012

Hillwood Properties announced its plans to expand its Hillwood Multifamily subsidiary. The company plans to initially concentrate on delivering more than 3,000 units of multifamily product over the next 10 years within its 17,000-acre AllianceTexas master-planned development. Fort Worth Business Press, January 31, 2012

The 8.0 Restaurant & Bar will close February 24 and make way for a new, larger Flying Saucer Draught Emporium. The Flying Saucer will move in April and another restaurant will replace the Flying Saucer’s current location in the historic Land Title building. Star-Telegram, January 31, 2012

Expansions and Moves

Pop’s Burgers & Grill on Benbrook Highway is moving into the old Hot Tub’s Back Porch Grotto at 4413 Trail Lake Drive. Star-Telegram, January 10, 2012

 Multatech, an architectural and engineering firm, has expanded its office space by 3,929 square feet, bringing its total office space to 17,132 in the West 7^th office building. Star-Telegram, January 23, 2012

On the Dotted Line

Tugg Hill Real Estate Partners, based in Fort Worth, has joined Albanese Cormier Holdings in Beaumont to buy the Edison Plaza office tower in Beaumont’s central business district. Star-Telegram, January 2, 2012

Slack and Davis LLP signed a new lease at 100 Lexington in Fort Worth for 3,521 square feet of space. Fort Worth Business Press, January 13, 2012

Ovation Graphics LLC, based in Fort Worth, has purchased all of the business assets of Branch-Smith Printing Ltd. Under the terms of the purchase, Branch-Smith will retain the name that it has held for 102 years. Fort Worth Business Press, January 5, 2012

Conti Warehouses, a Fort Worth commercial real estate investor has bought the vacant former Target at 2600 West Cherry Lane in west Fort Worth and will redevelop the building for multitenant use. Star-Telegram, January 10, 2012

The Londoner restaurant and pub has signed a lease on 6,080 square feet in The Vue at 3201 S. University in Fort Worth. The site is the first location in Fort Worth and will be the fifth location in the Dallas-Fort Worth metroplex. The restaurant, slated to open in the summer of 2012 will occupy the entire retail space below the student housing unit. Fort Worth Business Press, January 19, 2012

Clothing retailer Urban Outfitters has signed a lease on 10,255 square feet of retail space at 2735-2737 West 7^th Street in Fort Worth on the corner of Foch and West 7^th. The store aims to be open before Christmas 2012. Fort Worth Business Press, January 19, 2012

Equify Financial has leased 4,490 square feet in the Heritage Commons I office building in Alliance. Star-Telegram, January 23, 2012

Novaria Group, based in Fort Worth, has acquired Fitz Manufacturing Industries, a supplier of precision aerospace components based in North Richland Hills. As part of the acquisition, Fitz Manufacturing will be renamed Fitz Aerospace. Fort Worth Business Press, January 25, 2012

 Del Taco has announced that it has signed a three-unit development deal with DT Restaurants of Texas in Fort Worth. Fort Worth Business Press, January 26, 2012

Openings

Woodshed restaurant is opening just off Fort Worth’s bike/jogging path near the zoo. The restaurant will feature barbequed meats from around the world and 25 craft and imported beers as well as two wines on tap. Star-Telegram, January 5, 2012

Jersey Mike’s opened a location at 14113 Trinity Blvd. The restaurant opened with a five-day fundraiser where coupon holders could get a free regular sub sandwich for a minimum $1 contribution. The company distributed an estimated 10 thousand coupons throughout the community prior to the restaurant’s opening. Fort Worth Business Press, January 17, 2012

Z’s Café, a family-owned and operated eatery and catering company in Fort Worth, hosted a grand opening of its second location at 1116 Pennsylvania Avenue on January 27 and 28. Complimentary food and drink were served. Fort Worth Business Press, January 27, 2012

Around Town

Pier 1 Imports Inc reported sales were up during the 2011 holiday season by 11.3% compared to 2010’s sales increase of 10.3%. Holiday sales have collectively increased more than 30% over the past three years, the company said. Fort Worth Business Press, January 5, 2012

 DR Horton Inc, based in Fort Worth, has posted a double-digit jump in revenue for its first fiscal quarter. The company reported an increase in both closings and orders. Fort Worth Business Press, January 27, 2012

Out of Town Reporting

Bell Helicopter, based in Fort Worth, is being awarded a $20,359,785 modification to a previously awarded firm-fixed-price contract for logistics products and services in support of the H-1 helicopter upgrade program. Vertical Magazine, January 4, 2012

Bell Helicopter is in negotiations with the Turkish National Police over the possible purchase of 15 of the company’s Bell 429 helicopter. UPI, January 9, 2012

Bell Boeing Joint Project Office has been awarded a $7,283,403 modification to a previously awarded fixed-price-incentive-fee V-22 multi-year production contract. Work on the project will be conducted in Philadelphia, Fort Worth, and Amarillo. Work is expected to be completed in October 2014. Southern Maryland Online, January 21, 2012

Lockheed Martin, Fort Worth, is being awarded a $7,024,566 firm-fixed-price contract for instillation of a commercial sensor and associated hardware to measure the oxygen concentration and pressure within the oxygen system. The result will be a real time display of oxygen concentration and a warning if oxygen partial pressure drops below a threshold value. The partial pressure of oxygen and hose pressure will also be data logged for use in post flight investigations. Defence Professionals, January 23, 2012

TPG Capital, based in Fort Worth, is under contract to purchase 12 million square feet of developed office and industrial properties in Florida from Flager development. South Florida Business Journal, January 27, 2012

Data provided by Strategic Insight Group
Intelligence Research Partner of the Fort Worth Chamber of Commerce

In the Works

Niagara Conservation Corp, a manufacturer of water and energy conservation products has moved its national headquarters from Cedar Knolls, NJ to Fort Worth. Of the 30 employees currently working at the headquarters, 20 are new positions. Fort Worth Star Telegram, August 11, 2011

Touchstone Wireless Repair has expanded its location at 4500 Cambridge Road in Fort Worth’s CentrePort Business Park by 85,000 square feet. Fort Worth Star Telegram, August 28, 2011

Lockheed Martin Aeronautics has been awarded a $535.3 million Pentagon contract to procure parts, materials and components for 38 F-35 joint strike fighters. Six of the 38 will be headed for Italy and Australia. Fort Worth Star Telegram, August 9, 2011

Lockheed shipped 4 F-16s to Morocco from the company’s Fort Worth plant. The planes are the first in an order for 24 planes. A majority of the shipments will be completed by December 2012. F-16.net, August 3, 2011

Bell Helicopter was awarded a $54,490,905 firm-fixed price contract from the US Army Contracting Command, Redstone Arsenal, Alabama. The contract is for the production of a control system display system conversion for the OH-58D Kiowa Warrior, a light scout helicopter. All conversions are estimated to be complete July 31, 2012.
Info-Prod Research, August 4, 2011
For full August 2011 Economic Update Report visit here.

Data provided by Strategic Insight Group
Intelligence Research Partner of the Fort Worth Chamber of Commerce

 The Star-Telegram will move into new offices in the Commerce Building in downtown Fort Worth by October 2011. The newspaper reported that it leased 64,328 square feet in the 19-story office building. Fort Worth Star-Telegram, April 9, 2011

Fort Worth-based GM Financial announced it is acquiring Toronto-based FinanciaLinx Corporation, one of the largest independent automobile leasing companies in Canada. The acquisition of FinanciaLinx will provide Fort Worth-based GM Financial a platform to expand its product offerings into Canada. Fort Worth Business Press, April 1, 2011

Lucky Strike Lanes is opening an upscale bowling alley in the West 7th development. The new location at 2845 West Seventh Street is set to open in May. Fort Worth Business Press, April 22, 2011

Fort Worth-based D.R. Horton, the largest homebuilder by closings in 2010, posted a second-quarter profit ending March 31. Net income was $27.8 million, up from $11.4 a year ago. D.R. Horton has operations in 72 markets in 26 states. Fort Worth Business Press, April 29, 2011

RadioShack, based in Fort Worth, reported on April 25 that total net sales and operating revenues for the 2011 first quarter increased 2.1 percent to $1.06 billion, compared with $1.04 billion for the 2010 first quarter. Fort Worth Business Press, April 25, 2011

Cargo traffic at Fort Worth Alliance Airport was about 110,400 metric tons last year, up 24 percent from 2009, and developers of the hub’s industrial airport are working to enhance its economic power by extending the runway. Dallas Business Journal, April 22, 2011

See more updates here.

Those bricks-and-concrete canyons of New York are part of the United States’ greenest, most sustainable city, says author and journalist David Owen

He explains why in his book Green Metropolis: Why Living Smaller, Living Closer and Driving Less are the Keys to Sustainability.

He’ll address that point and other sustainability issues when he keynotes the Fort Worth Chamber of Commerce’s 2011 annual meeting June 10 at the Renaissance Worthington Hotel.

A native of Kansas City, Owen has been a staff writer for The New Yorker since 1991. Before joining The New Yorker, he was a contributing editor at The Atlantic Monthly. He’s a former a senior writer at Harper’s and a frequent contributor to Esquire. He is also a contributing editor at Golf Digest, and the author of a dozen books.

Owen’s a detail-minded contrarian analyst when plowing through the green movement. He shared some thoughts in a Q&A with the Chamberletter:

Q: How urgent a matter is cities’ pursuit of urban sustainability? What’s at stake?

A: The world faces a long and lengthening list of challenges related to energy, climate, and the environment in general. There are plausible solutions to all, but none are particularly appealing, even to people who worry about these things all the time.

Urban density is a powerful tool, if we can figure out how to use it. Moving people and their destinations closer together—as in Manhattan or Hong Kong or the older cities of Europe—shrinks per-capita energy use and carbon footprint and reduces a broad range of environmental impacts.

But most places in this country have grown the way Dallas-Fort Worth has: out instead of up. And now China and India and other countries with rapidly expanding economies are following a similar path, though at an accelerated rate, even as they rapidly urbanize.

I guess the main idea is that density is more sustainable than sprawl—although how to take advantage of that fact is a question to which there is no easy answer.

Q: What’s one of the strongest current catalysts for actually moving an urban environment closer to sustainability?

A: The only force strong enough is economics.

Beginning in late 2008, something happened that not even the most optimistic environmentalists and climatologists had been expecting: the world’s energy and carbon footprints shrank, and by significant amounts.

But those changes didn’t occur because the human race had suddenly attained environmental enlightenment. They occurred because the price of oil had risen to record levels and the global economy had tanked.

The explanation is easy to understand: the world’s main emitter of manmade greenhouse gases has always been prosperity, and when times are bad consumers respond by consuming less.

Closed factories don’t burn coal, and when people lose their jobs, or become worried about losing their jobs, they behave like leading members of the Natural Resources Defense Council. They drive less, turn down the furnace, shut off lights in empty rooms, stop heating the swimming pool, make do without air-conditioning, decide not to travel to Chicago for Thanksgiving and make fewer impulsive purchases.

Even wealthy people hunker down, and the resulting interruption in economic growth slows the pace at which we worsen a long list of environmental troubles.

The global recession that began in 2008 spread pain throughout the world, but it also put time back on the carbon and energy clocks.

No rational person would advocate economic collapse as a climate-and-energy strategy. Somehow, though, we need to find a non-catastrophic way to accomplish the equivalent—to harvest the environmental benefits of recession without the human suffering.

That’s an especially tough problem because, as recent experience proves, when times are tough we focus our efforts not on perpetuating serendipitous reductions in energy use and carbon output but on making them go away—by cutting taxes, bailing out bankrupt carmakers, offering purchase incentives for drivers, reducing the cost of borrowing, investing in highways and bridges, encouraging the construction of new residential subdivisions, weakening the Environmental Protection Agency, and demanding the release of oil from the Strategic Petroleum Reserve.

Q: As you find in Green Metropolis, residential density works in New York, but how realistic is that in Fort Worth and the suburbs? What needs to happen to effect the culture change necessary for a shift toward density?

A: The recession has kind of put sprawl on hold. No one is building exurban subdivisions the way they did just a few years ago.

But we’re obviously not going to bulldoze Fort Worth or Atlanta or Kansas City—where I grew up—and replace them with something more compact and sustainable. What we’ll see—if energy prices continue to rise—is that the negative effects will be felt the least in places where people live in smaller spaces and are less dependent on cars.

My mother lives in an assisted living facility—which is like a mini-Manhattan. She has a car but seldom uses it, and her friends live down the hall. Ten-dollar gasoline would have a smaller impact on her than it would on me here in Connecticut, with my three cars and my 200- year-old house that I heat with oil.

Q: Severe traffic congestion challenges Fort Worth and North Texas, but private transportation remains deeply rooted in our way of life. What would help us embrace public transit?

A: Traffic congestion actually has environmental value, since it makes people unhappy about driving.

Most so-called green strategies aimed at cars are counterproductive in the long run, because they have the effect not of reducing car use but of making car travel faster, cheaper, more pleasant, or all three.

But transit isn’t easy. It really only works—and only makes sense, from the point of view of either energy or economics—in places that are quite dense. That’s extremely hard to achieve, but the results are impressive.

Seventy-seven percent of Manhattan households don’t own even one car, and those that do own a car don’t use it the way the rest of us do.

In the U.S. as a whole, by contrast, we have about fifty million more registered vehicles than licensed drivers. So, the short, hard answer to your question is that successful transit depends on high density plus high driving cost (in the form of some combination of fuel price, congestion, parking expense, inconvenience and frustration).

Q: What’s one of the best models of city public transit that you have found?

A: The best transit model in the United States is New York City — which contains half of all subway stops in the United States and a high proportion of its bus routes.

The New York metropolitan area, accounts for almost a third of all the public-transit passenger miles traveled in the entire country—an amazing statistic. Yet New York is usually overlooked in discussions about transit.

Even transit proponents tend to focus instead on things like the light-rail system in Portland, Ore., which is plenty nice, but isn’t really a functioning transit system. Those slick-looking cars don’t operate at capacity very often, and Portland is as automobile-dependent as any other American community.

Q: You’re a golfer. Got a tip on how to improve one’s game?

A: Lessons.

Data provided by Strategic Insight Group
Intelligence Research Partner of the Fort Worth Chamber of Commerce

Oliver’s Fine Foods will bring its neighborhood market concept to Sundance Square in downtown Fort Worth when it opens a 6,600- square-foot store later this year at 415 Throckmorton St. Oliver’s is a high-end specialty market that features products and services geared toward gourmets, including hand-cut steaks, house-made sausages, fresh fish, and seafood.
Fort Worth Business Press, February 18, 2011

BSNF Railways, based in Fort Worth, says that it will spend $3.5 billion in 2011 to upgrade railroad tracks and buy equipment as the railroad reinvests to keep pace with a growing volume of freight shipments. The company saw its business improve sharply in 2010.
Fort Worth Star-Telegram, February 9, 2011

More than 106,000 people came to Fort Worth’s Sundance Square during the week leading up to the Super Bowl, say executives with the entertainment and retail district. That is nearly triple the number of visitors Sundance Square typically sees in a week.
Fort Worth Star-Telegram, February 11, 2011

Matt Rose, chairman, president, and CEO of Fort Worth-based Burlington Northern Santa Fe Railway Corporation, was named to the President’s Council on Jobs and Competitiveness. The Council is chaired by Jeffrey Immelt, CEO and chairman of General Electric.
Fort Worth Business Press, February 25, 2011

Fort Worth was confirmed as one of the country’s fastest-growing cities according to 2010 census figures released February 17 by the U.S. Census Bureau. Fort Worth grew 38.6 percent to 741,206 residents in the last decade.
Fort Worth Business Press, February 20, 2011

Read  more economic updates here.

A new wave of advocacy will roll into Austin and the 82^nd Legislature on March 1 when the Fort Worth Chamber of Commerce’s Vision Fort Worth program for young professionals (YPs) spends its first-ever Vision FW Day at the Capitol.

The day trip will connect YPs with legislators and opportunities to explore issues, state government operations and how they impact Fort Worth, said Brianna Broussard, Vision FW manager.

A luncheon agenda plans networking with counterpart members in the Austin Young Chamber of Commerce program.

Attendees will hear keynote addresses from two high-profile young professionals who also are four-term Democrat legislators – Fort Worth’s District 95 Rep. Marc Veasey, 40, already chair of the House Democratic Caucus, and District 50 Rep. Mark Strama, 44, of Pflugerville, known for his role in MTV’s Rock the Vote project and his Stramarama fundraisers.

Veasey and Strama applaud the YPs’ trip to Austin.

“Too often, citizens of all ages underestimate the impact that state government has in their lives and careers,” said Veasey, who encourages YP involvement in legislative matters. “Coming to Austin will help young professionals better understand that impact and learn what they can do to influence the process.”

Strama agreed, adding: “Texas political and business leaders have a long history of working together to create unique economic opportunities for Texas businesses. Learning how to participate in this dialogue is a valuable skill for young professionals, and the energy and innovative perspective they bring to the table helps us write and pass stronger legislation.”

Vision Fort Worth member Alison Edwards, president of government relations consulting firm A.E. Strategies, said a top issue for her and other members involves “the importance of economic policies that encourage business development and growth within Texas.”

Additionally, she said, “we may highlight the need for investment in transportation.”

Edwards hopes to talk with legislators about “creating policies to decrease our unfunded liabilities and maintain a business-friendly environment for our future.”

The YP trip holds deep value, she said.

“We’re the future leaders, and it’s important for us to become engaged in the legislative process now. We all need to become educated about who our legislators are, how the process works, and then get involved in the dialogue about issues that will directly impact the future of our professions and our community.”

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Alison Edwards and A.E. Strategies.

Rep. Marc Veasey’s state website.

Rep. Mark Strama’s state website.

As the 112^th Congress contends with massive fiscal and partisan challenges, 12^th District Republican Congresswoman Kay Granger shared thoughts in a Fort Worth Chamber of Commerce Q&A on some top areas of concern.

Granger was recently selected by the U.S. House Republican Steering Committee to serve as chair of the Appropriations subcommittee on State and Foreign Operations.

She is one of 12 House members who head Appropriations subcommittees. Extremely powerful, they are in charge of all federal government spending and are known as cardinals, nicknamed after Roman Catholic Church clergy who rank in power only beneath the pope.

Here are her responses to Chamber questions:

Question: What’s one of your top aims regarding health care reform? Why?

Answer: My priorities on health care are reforming our tort system, restoring the relationship between doctors and patients, and ensuring patients get the care they need.

We have to make it easier for businesses to provide quality health insurance for their employees. Last year’s health care law only made this more difficult. You have seen the consequences of the bill with big employers such as Caterpillar and McDonald’s cancelling employee coverage, because it is cheaper for them to pay the fine levied by the federal government than it is for them to pay for health insurance.

This is a bad model if we want all Americans to be able to get quality health care.

Question:        What’s one of your top priorities regarding financial reform? Why?

Answer: My top priority is creating certainty for businesses.

Regulations are coming from Washington at a dizzying pace, making it incredibly difficult for businesses to keep their doors open, much less plan for the future or grow and expand.

We need to pay particular attention to creating certainty for lending institutions.

There are a lot of lenders who have capital to lend, but they are afraid to lend simply because they cannot anticipate what the federal government is going to do next. This is preventing capital from reaching the hands of small businesses and is stunting our economic recovery.

An important part of creating certainty is getting to the bottom of what caused the problem in the first place.

The cause of the financial collapse has not been thoroughly addressed. Freddie Mac and Fannie Mae were at the root of the housing collapse along with big Wall Street banks. However, while several Wall Street firms collapsed, Freddie and Fannie have continued to receive hundreds of millions of dollars in taxpayer assistance. This is not right.

If we want to prevent a future collapse we have to address all our economy’s vulnerabilities.

Question:        What’s one of your top Defense budget priorities? Why?

Answer: My top Defense priority is the success of the Joint Strike Fighter.

This is a critical part of the future of our national defense. It is critical that we maintain a strong national defense while supporting (Defense) Secretary (Robert) Gates’ desire to have a leaner, smarter military.

As a member of the Defense Appropriations Subcommittee, I will continue to work with our military leaders to make sure they have the resources they need to be successful in our ongoing war in Afghanistan while eliminating waste at the Pentagon.

While cuts will be necessary, we cannot make cuts that jeopardize our mission or put our men and women in uniform in harm’s way.

Question: What are your thoughts on state/municipal bailout strategy? Why?

Answer: I don’t believe in federal bailouts of state and municipal governments.

I have a record of opposing these taxpayer bailouts, including the President’s stimulus bill. With our $14 trillion national debt, the federal government does not have the money to pick winners and losers in state and local governments.

Just as we are tightening our belts in Washington, state and local governments should be doing the same. If there is any silver lining to the recession, it is the opportunity for us all to set priorities and be smarter in how we manage our finances.

Question: What’s a key step you’ll take to help build a more bipartisan Congress?

Answer: From my position as chairwoman of the State and Foreign Operations Appropriations Subcommittee, I am setting an example of how Congress can work together with members of the other party.

I am working together with my Democrat counterpart to make sure our national security priorities are met, even while we make significant cuts to the State and Foreign Operations budget.

Our views will not always allow us to agree, but having a constructive dialogue with the other side of the aisle is critical if we want to enact good policy.

U.S. Rep. Kay Granger’s congressional website.

Data provided by Strategic Insight Group
Intelligence Research Partner of the Fort Worth Chamber of Commerce

The Brenham-based dairy and ice cream maker [Blue Bell] recently bought 2,288 acres at 9351 Harmon Road, near Interstate 35W and US 287, where it plans a 12,000 square-foot distribution center, its first expansion in Fort Worth since 1981.
Star-Telegram, June 28, 2010

The Cowboys leased 1,126 square feet at 310 Main St., where the team plans to open a pro shop in time for the first preseason game Aug.12.
Star-Telegram, June 17, 2010

Board members [of the Tarrant Regional Water District] announced the decision to purchase 42 acres just north of the Trinity River and downtown Fort Worth for $17.5 million. The land was part of Cats owner Carl Bell’s 60-acre portfolio surrounding LaGrave Field, which is home to the minor league Cats baseball team.
Fort Worth Business Press, June 15, 2010

The Texas Higher Education Coordinating Board announced Monday that it is launching a pilot program in Fort Worth and San Antonio to amplify some words of parental wisdom: Go to college…The initial two years of Generation TX is funded by a $3 million federal College Access Challenge Grant.
Star-Telegram, June 8, 2010

Texas Christian University exceeded a $250 million fundraising goal two years before the campaign’s 2012 conclusion…
Star-Telegram, June 23, 2010

Data provided by Strategic Insight Group
Intelligence Research Partner of the Fort Worth Chamber of Commerce

The Lego brand continues to build in Tarrant County as LEGO Systems Inc. has announced an expansion of its North American Distribution Center at Alliance Global Logistics Hub by nearly 200,000 square feet.
Fort Worth Business Press, May 24, 2010

The nearly century-old Ranch Style Beans plant off East Lancaster Avenue may soon become a vegetable canning operation for Arkansas-based Allens Canning Co., which could employ more than 100 workers at the idled facility. Allens…is under contract to buy the 200,000-square-foot building and its 20-acre site near U.S. 287.
Star-Telegram, May 5, 2010

LG Electronics has consolidated its cell phone repair business to its facility at Alliance in Fort Worth, adding 65 full-time employees and more than 65,000 square feet.
Dallas Business Journal, May 4, 2010

Lockheed Martin Aeronautics, Fort Worth, Texas, was awarded a $325,485,969 federal contract by the U.S. Air Force’s 312th Aeronautical Systems Group, Wright-Patterson Air Force Base, Ohio, for the development, integration and delivery of 35 mid-life upgrade kits for the Foreign Military Sales Pakistan Block 15 F-16A/B aircraft; and 18 retrofit kits for the Block 52 F-16C/D aircraft.
Targeted News Service, May 23, 2010

Public accounting firm Weaver [of Fort Worth] announced May 21 it has expanded into the Midland/Odessa market with the acquisition of Elms, Faris & Co. LLP.
Star-Telegram, May 21, 2010

More links:

• View the full list of Economic Updates online.

Jeff King, the new chairman of the Fort Worth Chamber of Commerce board of directors, sees a compelling need for innovative grooming of new leadership for a city that’s encountering new challenges as an international business and cultural force.

King, managing director with J.P. Morgan, takes the helm in partnership with 70 business leaders who serve with him on the board. His views are sharpened by extensive community involvement that spans the public-private sectors. He shared some thoughts about his priorities as Chamber board chairman in the following Q&A:

1. How do you describe your vision for Fort Worth?

We need to recognize that Fort Worth is at an inflection point. Our traditional sources of corporate and community leadership are evolving. This is nothing new, as over the years Fort Worth has seen major employers sell or leave town, it has endured defense budget cutbacks, crises in banking and energy, and it has responded.

However, I believe that our city has seen over the past decade a significant change in the very nature of our community leadership, in the degree of involvement of our business leaders with regard to philanthropic support, strategic planning, and city and county budget issues. I also believe that there has been a change in the makeup, the demographics, the priorities and values of the generation of community leaders and benefactors who are growing up behind them.

If you were to pose this as a question to the community at large, would the answers differ between generations, or lifestyles, or races? As I have said, we are at an inflection point, if not a major crossroads. Fort Worth has grown up, we’re one of the largest cities in the country, we’re playing on the world stage, and we have to work harder than ever in order to maintain our unique character. We also must ensure that our community is an open, inviting, fertile field for those young, creative, entrepreneurial, and multicultural leaders that we must retain and attract if we are to truly live into our future.

2. What’s one way the Chamber can help Fort Worth tap more of its potential?

To my earlier point around the evolution of our city and its leadership, Vision Fort Worth is the young professionals group at the Chamber. The value of this type of organization often comes from networking or educational opportunities. However, it’s time we take a bolder step.

We don’t need to figure out how to plug our young leaders into today’s Fort Worth; we need to provide them a forum that allows them to create the blueprint for what tomorrow’s Fort Worth will be. We all owe an incredible debt of gratitude to the generations of leaders that provided us with this amazing city, our world-class educational institutions, arts community and zoo – this one-of-a-kind personality that combines our sophistication with our western heritage.

But the times are changing, and our future leaders will be even more traveled, more educated, more connected, and more diverse than ever before. They will inherit a Fort Worth where the concern is not whether it will grow, but how it will continue to reinvent its relevance within one of the largest and fastest-growing metropolitan regions on Earth.

Vision Fort Worth can provide the platform that brings our future leaders together in order to brainstorm, envision, define, and implement the map to our future. How will Fort Worth be viewed 25 years from now? Will it be a magnet for college graduates as they start their careers, no matter if they matriculated here or elsewhere in the world? Will it still be famous for its arts community? Will it be accessible to all people? Will it have a vibrant public education system? Will the river be fully utilized? Will it remain an important medical and transportation center? When my grandchildren’s peers overseas hear about Fort Worth, what will their impression be? When I speak to Vision Fort Worth members about the future state of our city, and their role in creating a vision for it now, they become quite passionate.

3. How can the Chamber build more membership?

We were talking about this the other day, and somebody said that when a Chamber member drops their membership, they usually say, “We just don’t have the time or money.” It’s much more difficult to say “we don’t see the value of our membership” because then they might have to explain what that means.

The Chamber is the most effective vehicle through which a local business can leverage its voice at City Hall or in Austin or in Washington, DC. This is important all the time, but it’s particularly so today, with public budget deficits, a volatile economic environment, and an unfriendly tax outlook. How can any company, large or small, go it alone in today’s unsure world? We must make sure that this message gets out there, and it is incumbent on Chamber leadership to make it so.

4. What’s a key area of focus for economic and workforce development?

As we face a multi-billion dollar budget shortfall in the 82nd legislative session it will be imperative that we advocate on behalf of public education to ensure appropriate funding for our greatest assets, our children. With those same budget pressures in mind, we must also monitor the status of the state’s economic development incentive tool kit to make sure this set of valuable programs is not jeopardized.

5. What government issues may dominate the coming year?

Hands-down, it’s the city budget. I’m not sure how we can have a $70+ million deficit and keep parts of our city services off-limits when it comes to making hard decisions. The citizens of Fort Worth are already carrying one of the heaviest tax burdens in the land. I am confident that our public officials will make the right choices, but they need the support and partnership of our business leaders, and that means the Fort Worth Chamber of Commerce.

On the federal level, we will continue to assess the impact of healthcare reform on business and the healthcare industry and monitor the status of “Cap and Trade” (ACES) legislation. On the state level, we must continue our efforts to improve our air quality, ensure the availability of long term water resources and tackle the transportation challenges of mass transit and highway funding.

If you’re reading this, and you’re not a member of the Chamber, we need you, we need your input, we need your voice!

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J.P. Morgan

Fort Worth Chamber of Commerce Board of Directors