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Your Monday marketplace guide |
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Editor’s Note: Welcome to The Business Report, a new weekly digest of Tarrant County’s essential business news, brought to you by Fort Worth’s largest business reporting staff. Don’t have time to mind your business? You can opt out here and still receive our other newsletters. |
In today’s Business Report from the Fort Worth Report: In depth: A focus on the economy Economic indicators for June The Top 5: Soaring gas prices Number of the Week People on the move
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In depth: 💵 Economy & Banking |
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How would a recession affect Fort Worth? In the past few recessions, North Texas has remained a standout economy. Will that continue? Economists say the factors causing a recession and inflation now are far different than the reasons for inflation in the 1980s. Could a recession slow the influx of households moving to North Texas? Not likely, North Texas is still growing jobs and jobs draw people. Are we seeing any slowdown in the economy in Texas? Restaurants are seeing a slowdown in business as customers shift to lower-priced options. Read the whole story.
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The Top 5: Stories of the week |
| The price for gas is nearly $5 a gallon. But as business editor Bob Francis reports, Texans are still expected to hit the road this summer. |
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| The city of Fort Worth is now using a local advertising firm and a public relations agency out of New York. Business reporter Seth Bodine reports how the city is using the agencies for economic development. |
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| Since its creation in the 70s, Interstate 30 West has divided Fort Worth’s mostly white and affluent neighborhoods from diverse and lower-income neighborhoods. Growth reporter Sandra Sadek writes how urban planners want to change that as I-30 expands. |
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With housing affordability on track to be the No. 1 crisis in the coming years, people are seeking solutions to help combat the surge in prices and demand. Growth reporter Sandra Sadek covers the discussion by four real estate professionals at the latest Fort Worth Report candid conversation series. And in case you missed it: Mortgage interest rates are rising, making monthly payments and the income required to qualify for a mortgage loan higher. Business reporter Seth Bodine reports how that will push out first-time buyers.
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Read our Business section for the rest of what’s happening in Tarrant County |
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Check the pulse of Fort Worth’s economic health with our complete economic indicators dashboard, covering trends in real estate, growth, innovation and banking. This week’s numbers: |
⬆️ The 30-year fixed mortgage is 5.25% in May (up 0.25%) ⬇️ Gross domestic product is down 1.5% in the first quarter. ⬆️ The Federal Reserve raised interest rates 75 basis points in June.
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| Trinity Collaborative, the producer of Mayfest, announced the retirement of longtime executive director Elizabeth Basham and the appointment of Iris Bruton as incoming executive director. |
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| A visionary and transformative figure in both business and entertainment, Ollen Bruton Smith, the founder and executive chairman of Sonic Automotive, Speedway Motorsports and Speedway Children’s Charities has died. He was 95. Smith helped bring Texas Motor Speedway to Fort Worth. |
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Are you “On the move?” Send us your people updates. |
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Do you count on the Fort Worth Report for business and city news? We are an independent nonprofit funded by our readers. Donate today to keep us going. |
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Heard some news? Send us your press release or story tip. As always, thanks for reading, and please let us know what you want in your Report. |
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Bob Francis,
Business editor |
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