Everything really is bigger in Texas – and these days, that’s most true of the local economy, the number of companies moving here, and the overall growth. Texas is undergoing a period of incredible development as so many are drawn to all that the state has to offer. It’s no wonder then that 5 of the 11 fastest growing U.S. cities are located in Texas.
EAt a glance, Texas is an ideal place to live. Warm climate, no state income tax, central location, and a booming economy are just a few of the factors that have drawn individuals and companies from all around the country to uproot, move, and come to call Texas home. North Texas in particular has seen the influx of many companies who flock to the business-friendly environment.
The Dallas-Fort Worth metroplex is home to over 7 million people, and has seen over 500,000 people move to the area in the last 5 years alone. While the job growth, moderate cost of living and lack of state income tax are among the factors that bring people to Dallas, it’s the amenities of the city that keep people here.
One of the very first thing that comes to mind when people think about Dallas is the Cowboys. America’s team, plays at AT&T Stadium (more typically known as Cowboy Stadium) – a $1.3B project seating over 110,000 people (and home to the world’s largest HDTV screen!). The stadium was designed by Dallas-based firm HKS and the construction of the stadium was an incredible effort made possible by the architectural, engineering and construction talent in Dallas.
In addition to the stadium, The Cowboys also have a new headquarters and practice facility, up at The Star in Frisco, north of Dallas. The 91-acre facility also carried a $1B+ price tag and has been one of the projects contributing to the incredible boom ongoing in Frisco and Plano.
Equally iconic in Texas is the food. Between the barbecue and the Tex-Mex, Texas offers the best of both worlds, and Dallas is home to an amazing restaurant scene that runs the gamut from food trucks to steakhouses and everything in between.
While Dallas boasts a great skyline of iconic towers and landmarks, there’s so much to be seen in the great outdoors that surrounds the concrete jungle of downtown. Whether you’re looking for a place for a picnic, some hiking, or some off-road biking, the long list of parks, nature preserves and networks of trails leaves so many options for those wanting to escape and get back into nature. Dallas even brought nature right into the middle of its downtown with the founding of Klyde Warren Park, a 5-acre park built right over the Woodall Rogers Freeway in downtown Dallas. The park hosts food trucks, exercise classes, movie screenings, kid’s activities, concerts and many other activities every single day. The warm weather and mild winters in Dallas make it easy to enjoy the park year round!
While the sports, the tacos, the amazing arts scene and the great weather certainly make Dallas a pleasant place to live, it’s the business climate and current influx of companies that also make Dallas an amazing place to work, and to build a career. The move to Dallas by so many companies continues to add jobs and strengthen the local economy both directly and indirectly.
For example, Toyota moving its U.S. headquarters directly impacts the North Texas economy by opening up thousands of jobs that need to be filled, as well as bringing in California natives who relocated with the company. Toyota’s move also has caused so many positive effects indirectly. The housing market has been stimulated, as the demand for housing has remained high.
Even more pronounced is the effect that is seen on the North Texas construction industry. Relocating companies like Toyota, JPMorgan, and Liberty Mutual are in the process of building extensive corporate campuses in Plano. In order to recruit top talent, companies see a need to offer state-of-the art corporate campuses, complete with amenities like gyms, on-site childcare, convenience stores, pharmacies and cafeterias. These building projects attract the top general contractors and suppliers who can take in stride the complexities and the scope of projects of this size.
While these corporate campuses are being built all over the Dallas-Fort Worth metroplex, there’s an incredible concentration of these projects in the Plano area, just north of Dallas. Plano now is home to what is known as the “$5 Billion Dollar Mile.” This mile is actually made up of 4 different mixed use developments within a one mile stretch of road along the Dallas North Tollway that represent over $5B in capital investment that is either announced or under construction. These developments will house retail centers, restaurants and office parks, and represent a massive influx of investment into a very concentrated area.
It’s impossible to drive up to Plano without seeing the cranes dotting the skyline. The ongoing and upcoming projects have been made possible by all the top construction, architecture and engineering firms in the area and have had ripple effects as suppliers, fabricators and subcontractors have supported these ongoing projects.