The Trophy Club Economic Development Corporation (EDC) meeting on May 22, 2025, focused on the future of the Thrive Business Grant and the allocation of funds for local business incentives. A key decision emerged: the Thrive Business Grant will be reduced from $195,000 to $150,000 for the upcoming year, with the aim of encouraging new business applications and providing flexibility for additional incentive projects.

During the meeting, members discussed the importance of attracting new businesses to Trophy Club. One member emphasized, “I think it’s very important to incentivize them to come to Trophy Club, not just continuing to use our money to support ones that have already gotten established.” This sentiment reflects a strategic shift towards fostering growth and innovation within the community.

The discussion also highlighted the potential for rolling over unallocated funds into the next fiscal year, allowing for adjustments based on the success of current incentive programs. The EDC has a fund balance of approximately $2.5 million, which provides significant flexibility for future projects and initiatives.

In addition to the Thrive Grant, the EDC is considering how to utilize a tax increment reinvestment zone (TIRZ) fund, which has generated new property taxes from recent developments. The council will discuss whether to keep this fund open for future incentives or close it down, depending on ongoing development needs.

As the meeting concluded, members expressed optimism about the potential for increased business applications and the overall economic growth of Trophy Club. The adjustments to the Thrive Grant and the focus on new incentives signal a proactive approach to economic development in the area.