The Bridgeport Economic Development Corporation (Bridgeport EDC) welcomes you to Bridgeport, Texas, where a bridge "port" was erected over the West Fork of the Trinity River by an area entrepreneur in the late 1800s. Located 35 miles northwest of Fort Worth at the convergence of US 380 and SH 114, Bridgeport is the place where your business will benefit from access to DFW International Airport, Alliance Airport, Bridgeport Municipal Airport, Union Pacific Railroad, I-35, US 287, skilled labor, workforce training resources, and a population of over 6 million people in the rapidly growing DFW Metro Area.
The Bridgeport EDC is the lead agency for coordinating economic assistance and incentive agreements for business entities seeking to expand and/or relocate operations to Bridgeport. The Bridgeport EDC administers the "4A" sales tax as a primary source of funding and aggressively encourages the entrepreneurial spirit while pursuing economic development using public-private partnerships. These partnerships allow the generation of numerous primary jobs using incentive packages that can include economic development grants, infrastructure participation, equipment purchases, relocation expenses, employee training, interest buy-downs, and others.
Tax Increment Reinvestment Zone
In 2007, the Bridgeport EDC, the City of Bridgeport, and WiseCounty worked together to create WiseCounty's first Tax Increment Reinvestment Zone (TIRZ) in an effort to stimulate development in the City of Bridgeport. The TIRZ, or TIF #1 as it is also referred to, is a way to fund new, needed public improvements in a defined area in order to stimulate new private investment. It is estimated that Bridgeport TIF #1 will help generate over $24 million for public improvement projects including numerous improvements on streets and utilities, Halsell Street redevelopment, Halsell Street building façade restoration, enhancement of parks and trails, a library expansion, a Fire Department Central Station, and the Wise County Courthouse annex renovation. Over the next 30 years, TIF #1 will facilitate substantial public improvements and will attract new economic activity to Bridgeport.
Bridgeport Doctors' Hospital
Also in 2007, construction began on an unprecedented public-private partnership between the City of Bridgeport and over 19 medical practitioners which will soon result in the new BridgeportDoctors'Hospital. This 36-bed, community-based, nonprofit hospital and related medical office center is scheduled to open in the fall of 2008. At a cost of about $40 million, this state of the art medical center will open with approximately 135 employees. Over time, this new hospital will add over 350 new direct and indirect jobs to the Bridgeport economy. We are excited and proud to have it as part of our community.
Other Economic Development Efforts
The Bridgeport EDC has purchased approximately 907 acres to facilitate economic development and diversification. This development, located just north of US 380 on SH 101, has recently been annexed into the Bridgeport city limits and will soon have utilities. Approximately 300 acres will be developed to create a business / industrial rail park. The City of Bridgeport Parks and Recreation Department will develop the remainder of the land into a municipal park to create a regional recreation destination. This park development is just one example of Bridgeport's aggressive approach to expanding the local economy.