Market demands of millennial generation will influence Rockwall’s dining, shopping and entertainment experience
(ROCKWALL, TX — Dec. 19, 2016) The Rockwall Economic Development Corporation was created 20 years ago with the strategic mission of broadening and diversifying the Rockwall tax base and creating jobs within the City of Rockwall. Since its creation, REDC has fueled the Rockwall economy by creating thousands of jobs and adding hundreds of millions of dollars to the tax base.
“Rockwall’s vibrant and robust economy will flourish into the future,” said REDC president and CEO, Sheri Franza. “REDC’s commitment to actively recruit corporate headquarters and industry to Rockwall from around the globe in order to create wealth and jobs in our community will continue. The benefit of our efforts lessens the tax burden for our residents, builds a strong business climate, and creates an even greater quality of life for everyone to enjoy.”
While REDC has certainly experienced success in the past, the work of building a city and maintaining a unique culture is an ongoing and dynamic process. It takes a lot of work and commitment from our leaders to have a vision of where we want to be, establish a plan on how we are going to get there, and maintain our identity and quality of life along the way.
Rockwall’s history of past commercial and residential development provides a strong foundation for building what is yet to come in the future. The reputation of ‘Life is just better in Rockwall’ will continue to encourage more residential and commercial growth. In the past 10 years, Rockwall has seen a 116% in commercial growth, a 63% increase in residential growth and an 87% increase in sales tax revenue. If that was the past, what is the future?
The City of Rockwall plans to maintain a diverse tax ratio of 67% residential and 33% commercial. Increased residential development will drive the demand for more restaurants, retail and entertainment. The market demands of the millennial generation will greatly influence the type of ‘experience’ that will be created in dining, shopping and entertainment options in Rockwall.
Small business will make up most of the service sector of the job market, and industry will experience significant growth in manufacturing with the re-shoring of jobs in the United States and the advancement of robotics and engineered technology. The future of the Rockwall economy is built on a solid foundation. Strategic and planned development will provide greater quality of place and life, and create a wider variety of options of where to go and what to do in Rockwall.
“We all have a choice of where we work, raise our families, educate our children and live and enjoy life,” said Franza. “The vision of our leaders and their courage and commitment to make sound economic decisions for our community is the reason the City of Rockwall remains the future choice for many.”
Submitted guest column by REDC.
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