The city of Austin is looking to improve its economic development strategies.

City officials are reviewing the incentives for bigger businesses who want to move to Austin.

The goal? According to City Administrator Craig Clark, the city wants to become more proactive in meeting demands from larger businesses interested in the Austin area.

“We’ve focused on having a system that can have a response to potential developers within 48 hours,” Clark said. “We want to try to be as nimble as possible. So we’re just making sure we can turn that around appropriately.”

To that end, the city is reviewing its economic development policies and marketing, looking for a chance to improve what it already offers.

The process comes after Austin narrowly missed out last year on a large-scale distribution center for McKesson Corp., a Fortune 100 pharmaceutical drug company. Austin offered a $17 million incentives package, but McKesson ultimately chose to build a $65 million distribution center in Clear Lake, Iowa.

Yet the experience showed Austin could potentially land larger businesses in the area.

Development Corporation of Austin Executive Director John Garry said the experience showed Austin’s potential as a landing site for similar projects.

“We can be competitive and good location for big projects,” he said in March.

Clark agreed.

“I think we did a good job as a city, but we want to make sure we can continue,” Clark said.

The city is also beginning talks with the Development Corporation of Austin to get advice on some of the most common benefits — state grants, tax increment financing on physical buildings among other options — companies look for in a potential new location.

“We are a competitive community in regards to incentives,” Garry said. “That can be used in a proactive way.”