In the late 1980s, the City of Texas City realized the necessity to diversify and stimulate its economy and began to aggressively develop an economic development strategy. The strategy contemplated having a versatile inventory of integrated economic development vehicles available to exploit the City's numerous assets and accommodate any economic development project requirement. Accordingly, several local government corporations, that have specific economic development missions and resources, have been created to interact, share resources and collectively pursue economic development projects. Other vehicles have also been implemented to provide a holistic approach to economic development within the City. The strategy is working and the City is proactively achieving its goals.
Texas City is fortunate to have a diversified economy. Heavy industry is the largest and was, since the 1900's, the City's only economic engine until the City's economic development strategists realized the City's vulnerability and began diversifying the economy. Now, the City's economy is driven by several industries including residential, commercial, retail, marine, entertainment and environmental developments, higher education, tourism, health care, sports, transportation, birding, fishing, boating and restaurants. This diversification evolved from the City's economic development strategists who created the numerous economic development vehicles that are available to accommodate the requirements of economic development projects.