What does Economic Vitality mean in Lewisville?

Lewisville recognizes that the success of its business community begins with the success of its residents, and that both are needed to secure long-term economic vitality. Lewisville holds the distinction of having a higher share of its residents in the workforce than any other city in the state of Texas. Economic vitality must ensure that Lewisville’s residents continue to have the knowledge, skills, and abilities that local employers need and want while also ensuring they are well-paid for their work and have opportunities to pursue their own interests and entrepreneurial goals.

Support for Lewisville’s residents involves action using the City’s own resources, such as the Public Library. It also requires collaboration with the Lewisville Independent School District (LISD) and other entities that provide education and job training. The City must continue to partner with LISD to promote its schools, particularly the new Technology, Exploration & Career Centers, as a key ingredient to providing the skills and training Lewisville residents need to fill available jobs and build successful careers. In addition, Lewisville should seek to attract, retain, and expand companies offering higher-paying jobs to strengthen its economic base and to increase residents’ opportunities for jobs that offer career advancement and income potential. Doing so will give Lewisville’s residents and workforce much more purchasing power, thus driving positive economic impact to our local economy.

Lewisville’s location at the geographic center of one of the nation’s strongest and fastest-growing regional economies gives this community an important strategic advantage. With nearly 49,000 existing jobs, Lewisville is a major employment location within the Dallas-Fort Worth Metroplex. Lewisville’s existing employment centers are home to major companies and offer sites for new corporate locations that will grow Lewisville’s economy. This Big Move builds on these existing strengths and supports stronger and more diverse businesses that will further strengthen Lewisville’s economy and tax base. In order to ensure the City’s long-term financial stability, development patterns should accommodate additional employment centers and business locations in close proximity to neighborhoods throughout the community. In addition, Lewisville must include the enhancement of sites within existing employment centers and implementing the sites that are ready to build. Remaining vacant land should not just accommodate development; it should accommodate development that ensures a stable and reliable tax base for the City in the future.

Recognizing the important link between continuing economic vitality and response to changing conditions, Lewisville should target key industry clusters such as advanced manufacturing, biotechnology and life sciences, energy, and information technology. Employers within these industries offer sustainable and resilient business models that maintain high quality jobs and create a consistent, stable tax base for the city. The City’s economic incentives should be used to attract or start companies in these industries.

Lewisville should build on its strong transportation network and infrastructure to provide critical connections from its major employment centers and business areas to the homes in all of its neighborhoods. In today’s environment,
prospective commercial interests place significant emphasis on a community’s quality of life. Ultimately,  communities that provide an attractive environment for employees to live, work and play are also the places that position themselves as the most competitive for commercial interests. The direction set by the Lewisville 2025 plan and this update support this community’s high quality of life and appeal to businesses.

Goal

Sustain Lewisville’s Economic Vitality by assisting its residents, supporting its businesses and enhancing its
major employment centers.