CITY OF IRVING, TX
ACKNOWLEDGEMENTS
TIP Strategies would like to thank the many individuals who contributed to the creation of the Irving Economic Development Strategic Plan. Dozens of business and community leaders participated in this project and contributed to our understanding of the challenges and opportunities facing Irving. We are especially grateful to the leadership and staff of the City of Irving for their valuable support and guidance throughout the planning process. We also want to thank partner organizations who generously gave their time and input, particularly the Greater Irving-Las Colinas Chamber of Commerce, the Irving Convention & Visitors Bureau, the Irving Hispanic Chamber of Commerce, and the Las Colinas Association.
CITY OF IRVING MAYOR AND CITY COUNCIL Beth Van Duyne John C. Danish Allan E. Meagher Mayor (at-large) Place 1 Place 2 (at-large) Dennis Webb Phil Riddle Oscar Ward Mayor Pro Tem, Place 3 Place 4 Place 5 Brad M. LaMorgese Kyle Taylor Wm. David Palmer Deputy Mayor Pro Tem, Place 6 Place 7 Place 8 (at-large)
CITY OF IRVING STAFF Chris Hillman Michael Morrison Ryan Adams City Manager Deputy City Manager Assistant to the City Manager Scott Connell Doug Janeway Maura Gast, FCDME Director of Economic Development Chief Development Officer Executive Director, Irving Convention & Visitors Bureau
IRVING PROJECT TEAM PARTNERS Beth Bowman Don Williams Joey Grisham President & CEO, Greater Irving-Las Vice President of Economic Director of Business Recruitment, Colinas Chamber of Commerce Development & Operations, Greater Greater Irving-Las Colinas Chamber of Irving-Las Colinas Chamber of Commerce Commerce Joe Chapa Executive Director, Irving Sister Cities / International Trade & Development Assistance Center, Greater Irving-Las Colinas Chamber of Commerce
TIP STRATEGIES CONSULTING TEAM Jon Roberts John Karras Managing Principal Senior Consultant
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CONTENTS
Introduction ...... 1 The Framework ...... 1 The Approach ...... 1 SWOT Analysis ...... 2 The Opportunity ...... 3 The Challenge ...... 3 Strategic Plan ...... 4 Vision ...... 4 Priority Initiatives ...... 4 Initiative 1. International Business Development ...... 5 Initiative 2. Entrepreneurship & Innovation ...... 9 Initiative 3. Higher Education Research & Development ...... 12 Initiative 4. Business Retention & Expansion ...... 13 Initiative 5. Domestic Business Recruitment ...... 16 Initiative 6. Economic Development Tools & Resources ...... 18 Initiative 7. Events & Conferences ...... 22 Initiative 8. Community Brand & Image ...... 24 Organizational Framework ...... 26 Irving Economic Development Advisory Council (EDAC) ...... 26 Performance Metrics ...... 27 Appendix A: Support Structures ...... 30 Support Structure 1: Sites & Infrastructure ...... 31 Support Structure 2: Talent & Workforce Development ...... 33 Support Structure 3: Quality of Place & Amenities ...... 35 Appendix B: Peer Organizational Comparison ...... 39 Appendix C: Incentive Program Evaluation ...... 43 Incentive Recommendations for Irving ...... 43 Local Incentives Use ...... 45 Best Practices ...... 47 Appendix D: SWOT & Economic Assessment ...... 50 Introduction ...... 50 Key Findings ...... 51 SWOT Analysis ...... 54 Economic Assessment ...... 57 Location Advantages ...... 57 Economic Trends ...... 60 Commuting Patterns ...... 66 Industry Analysis ...... 70 Workforce and Occupational Analysis ...... 74 Benchmark Comparisons ...... 78 Appendix E: Target Industry Analysis ...... 85 Recommended Target Industries for Irving ...... 86 Quantitative Analysis ...... 86 Qualitative Analysis ...... 89
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Strategic Considerations ...... 89 Target Industry Recommendations ...... 90 Corporate Headquarters ...... 90 Corporate Training ...... 91 Foreign-Based Corporations ...... 91 Software & Information Technology ...... 92 Telecommunications ...... 92 Finance & Insurance ...... 93 Health Care Specialties & Laboratories ...... 93 Professional Services ...... 94 Industrial Technology ...... 95 National Associations ...... 96 Appendix F: Strategic Marketing Initiatives ...... 97 Introduction ...... 97 Create a unified brand and marketing strategy for the Partnership ...... 98 Build new relationships and strengthen existing relationships with key audiences...... 101 Marketing Strategies Implementation Table...... 103 Target Industry Intelligence ...... 105 Appendix G: Prioritized Site Listing ...... 115 Vacant & Redevelopable Land ...... 116 Vacant Commercial & Industrial Land ...... 117 Redevelopable Commercial & Industrial Land ...... 118 Prioritized Site Evaluation ...... 119 Former Texas Stadium Site District ...... 120 Irving Convention Center Station ...... 121 Heritage Crossing District ...... 122 North Lake College Station ...... 123 Irving Mall ...... 124 Plymouth Park ...... 125 Carpenter Ranch ...... 126 Valley View ...... 127 Appendix H: Implementation matrix ...... 128 Implementation Plan - Years 1-5 ...... 128
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APPENDIX D: SWOT & ECONOMIC ASSESSMENT INTRODUCTION
To provide a foundation for the planning process, TIP conducted an assessment of demographic and economic characteristics that influence the city’s competitiveness. To maximize the value of this quantitative analysis, data are shown for the City of Irving, the Dallas-Fort Worth metro area, the State of Texas, and the US as a whole. In addition, we compare Irving to a selection of competitor cities on a number of demographic and economic factors. Finally, a review of strengths, weaknesses, opportunities, and threats identified during the planning process (commonly referred to as a SWOT analysis) is presented as well.
The data in this section should be updated annually by the new City of Irving senior research staff position recommended in this strategic plan.
Source: US Census Bureau, TIP Strategies.
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KEY FINDINGS
Highlights from the economic assessment are outlined below. Irving has experienced rapid population growth in recent years, growing by 20 percent in the 8-year period from 2005 (190,404 residents) to 2013 (228,653 residents). The city’s job growth has accelerated in recent years, with a total of 27,000 net new jobs added from 2009 to 2014, an increase of more than 14 percent. Irving is the second most important employment center in the Dallas-Fort Worth metro area, with more than 94,000 net inbound commuters on a daily basis, second only to the City of Dallas. Key industries that drive Irving’s economy include professional services, finance & insurance, and corporate & regional HQs, each of which accounts for a much higher percentage of jobs in Irving than the Dallas-Fort Worth metro area, Texas, or the US as a whole. The city has a well-educated workforce at the upper end (34 percent of adults age 25+ hold a bachelor’s degree or higher, compared to 29 percent nationally), but an under-educated workforce at the lower end (20 percent of adults lack a high school diploma, compared to 14 percent nationally). The city has a youthful population, with a median age (31.6) that is 6 years younger than the US average (37.3). Irving has a diverse population, including a higher percentage of foreign-born residents (34%) than any other large city in the Dallas-Fort Worth metro area. The city has a high concentration of well-paying professional jobs, with a much higher proportion of workers in the occupational groups of computer & math, business & finance, and architecture & engineering.
Irving has a wealth of assets and opportunities that can be leveraged for economic development. Some of the city’s most valuable assets are highlighted below. Irving’s strongest competitive advantage is its central location in the Dallas-Fort Worth metro area. In fact, Irving is the most centrally located city based on the region’s mean center of population. This gives the city easy access to the region’s business community and the large pool of skilled workers living in surrounding communities. Irving is also uniquely positioned between DFW International Airport and Dallas Love Field. Moreover, the Dallas- Fort Worth metro area is the most centrally located large urban area in the US. The city offers unparalleled access and connectivity to the surrounding Dallas-Fort Worth region and the entire US for businesses, workers, residents, and visitors. Irving’s location adjacent to DFW International Airport (the fourth busiest airport in the US behind Atlanta Hartsfield-Jackson, Chicago-O’Hare, and LAX) places the city less than four hours from every major business center in the US. Irving also has a robust transportation network connecting the city to the surrounding region via several major highways, the DART Orange Line, and the TRE commuter rail line. Irving is home to many of the world’s most successful corporations including Fortune 500 headquarters (ExxonMobil, Fluor, Kimberly-Clark, Commercial Metals, Celanese, and Pioneer Natural Resources), Fortune 1000 headquarters (Flowserve, Michaels Stores, and Darling Ingredients), North American headquarters of foreign-based firms (NEC, Nokia, Siemens, Hilti, among others), and other major corporate operations of firms based elsewhere in the US. In fact, Irving’s largest private sector employer is CITI, which is headquartered in New York, NY, but has a major presence in Irving with 6,000 jobs and two cyber command centers. Other major
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corporations not based in Irving but with a substantial local presence include Verizon, AT&T, Sprint-Nextel, Microsoft, Allstate Insurance, Abbott Labs, and Oracle. The Las Colinas brand is well-recognized and the area is highly regarded as one of the leading business centers within the Dallas-Fort Worth metro area and within the State of Texas. With dozens of major corporate offices and more than 25 million square feet of office space, Las Colinas is second only to the downtown Dallas CBD (Central Business District) as a regional center of business and employment. The city benefits from established higher education institutions, thanks to the presence of the University of Dallas and North Lake College. The University of Dallas is a top-tier private, Catholic, liberal arts university, with a 50/50 split of undergraduate and graduate students and a highly regarded MBA program in the University’s Satish & Yasmin Gupta College of Business. North Lake College is one of the premier colleges within the Dallas County Community College District, providing a wide range of high-quality academic and technical training programs. The potential exists to better connect these two institutions with the city’s major employers to support the community’s business retention and expansion efforts. Lastly, Irving’s central location within the region provides easy access to the entire region’s higher education assets including UT-Dallas, UT- Arlington, University of North Texas, Southern Methodist University, and Texas Christian University. There are many available sites for development and redevelopment within Irving, including hundreds of acres situated adjacent to rail transit stations along the DART Orange Line (the Irving Convention Center station, the Carpenter Ranch station, the Las Colinas Urban Center station, and the University of Dallas station) and the TRE commuter rail line. The former Texas Stadium site and its surroundings represent what is perhaps the premier regional redevelopment opportunity. It contains approximately 400 acres of highly visible land with superb highway and light rail access. There are also undeveloped properties within Las Colinas suitable for urban mixed-use (residential, office, retail/restaurant, hotel) development. Additionally, there are many vacant and underutilized properties available for more dense development in the Heritage Crossing District and surrounding neighborhoods. Lastly, there are several large properties which are not “on the market” (the ExxonMobil headquarters, the Verizon campus, the Signet headquarters, among others) but are nonetheless potential sites for future development.
Irving also has significant challenges that could limit its potential if left unaddressed. Some of these challenges can be translated into opportunities while others require a more immediate and more aggressive response. The city’s most substantial barriers to growth are detailed below. Irving is surrounded by aggressive neighboring cities that have successfully competed for new investment and job growth and continue to do so. By some measures, the Dallas-Fort Worth metro area is the most competitive environment in the US for economic development. And many of Irving’s biggest competitors have large pools of funds available to finance their economic development programs. The good news is that Irving is well-positioned to elevate and accelerate its commitment to growing the local economy with a more focused approach to business retention, expansion, and recruitment. There is a disconnect between Las Colinas and the rest of Irving, leading to a lack of connectivity within the city. The absence of high-quality physical connectivity can be seen in the fact that it can take just as long to drive from the Heritage Crossing District to Las Colinas as it can take to travel from downtown Dallas to Las Colinas. Perhaps even more apparent is the deficiency of cultural and business ties between the Heritage Crossing District and Las Colinas. In their present state, these two sections of Irving feel more like two different cities than two districts within the same city. This represents missed opportunities for businesses as well as residents in both areas. Fortunately, there is untapped potential to better connect these two sections of the city, both by linking residents throughout Irving to employment opportunities in Las Colinas and by promoting
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potential business expansion and real estate development opportunities in the Heritage Crossing District among businesses in Las Colinas. The city has a low-performing public K-12 school system, especially in comparison to some of the surrounding school districts. In fact, Irving ISD is ranked 844th out of 965 total districts in Texas by School Digger, a service that bases rankings on test-score data from the state’s Department of Education. This is a lower ranking than the school districts in all of Irving’s benchmark cities (see list, page 78) in the Dallas-Fort Worth metro area. Nonetheless, Irving ISD does have strong programs and has recently been recognized for its progress with a National AP award. Irving is also home to multiple top-notch private (Cistercian and The Highlands School) and charter schools (Uplift North Hills Prep, Great Hearts, and Uplift Infinity). It is also important to point out that portions of Irving’s city limits fall within Coppell ISD, which is ranked in the top 10 percent of school districts statewide (ranked 66 out of 965), and Carrollton-Farmers Branch ISD, which is in the top 40 percent of school districts in Texas (ranked 375 out of 965). Irving has struggled to achieve a high level of urban vitality, which is a major barrier to attracting young professionals and creative industry workers. The city does not currently have a signature urban, mixed-use district (like Dallas’s Uptown neighborhood, Southlake Town Square, or Addison Circle) that provides a wide range of amenities in a dense, walkable setting. However, the city does have solid building blocks for enhanced urban districts, including the Las Colinas Urban Center, the upcoming Music Factory project, and the Heritage Crossing District. Irving also has unique infrastructure assets (DART Orange Line and TRE commuter rail line) and major redevelopment opportunities (the former Texas Stadium site and surrounding properties) that can also provide a major boost to the city’s urban vitality.
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SWOT ANALYSIS
In addition to our review of economic and demographic data, our understanding of Irving was informed by roundtable discussions and interviews with local leaders in the public and private sector, as well as our experience working with communities across the country. Based on this work, we have developed an analysis of the city’s strengths, weaknesses, opportunities, and threats, commonly referred to as a SWOT analysis. The results of the analysis are outlined below.
STRENGTHS
WalletHub named Irving 2015’s “Best City to Start a Career” in the US (#1 out of the 150 largest cities) The DFW metro area is currently one of the hottest markets in the US for business expansion Irving’s locational advantages are unparalleled: . Irving is the most centrally located city in DFW Metroplex . The city is located between DFW International Airport and Dallas Love Field . DFW Metroplex is the most centrally located major metro area in the US Irving’s proximity to DFW International Airport, and the strong relationship between the airport and the city, are perhaps the city’s strongest assets for business attraction and investment Irving’s economic base is strong and diverse, with high concentrations of jobs in finance/accounting, information technology, and engineering thanks to the presence of many corporate HQs and other major business operations Diversity in the city’s population and workforce is an advantage, especially for multi-national corporations (including most diverse zip code in the US, 75038, based on analysis by Trulia) Strong business and cultural ties to several foreign countries (India, Japan, Mexico, Finland, Saudi Arabia, among others), including sister city relationships Robust transportation access and connectivity within the DFW region (DART, TRE, highway system) Well-known Las Colinas brand as a top destination for businesses Irving is generally regarded (within the Metroplex and Texas as a whole) as having a strong business climate Las Colinas infrastructure and amenities (canals, water features, etc.) Many recent economic development “wins” (relocations of corporations to Irving, expansions of existing Irving-based companies, and re-investment of existing firms in existing facilities) Large, diverse base of corporations including: . Several Fortune 500 HQs and Fortune 1000 HQs . North American HQs of foreign-owned firms . Divisional/regional HQs of major corporations Irving ISD has recently received a national AP award and is a leader in implementing HB-5 career paths in aviation, culinary, and robotics fields Uplift North Hills Prep, Uplift Infinity Prep, and Cistercian Preparatory School are regarded as top-tier schools in the region Strong broadband and electric utility infrastructure City’s development review/permitting process is generally considered to be timely and dependable Access to a large pool of talented workers in Irving and surrounding DFW cities Easy for Irving corporations to find skilled workers for their operations Strong city/chamber partnership approach for economic development with a chamber which is well- regarded by the corporate community in DFW
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Irving’s smaller size (relative to the City of Dallas) offers greater visibility to the international companies with operations in the community Annual InnoTech conference in Las Colinas Texas Musician’s Museum Heritage Crossing District with unique local character and strong redevelopment potential Many neighborhoods in the southern section of Irving are walkable (highest Walk Scores in city and higher than surrounding suburban communities)
WEAKNESSES
Irving ISD does not perform well compared to many school districts in surrounding communities (Coppell, Farmers Branch, Lewisville, Plano, etc.) Lack of “cool old buildings” (warehouses, etc.) that are attractive to young tech companies and startups Aging Irving Mall Perceptions of blight/crime in portions of Irving Restrictions on use/sale/consumption of alcohol in parks (for events/festivals) Irving lacks the “new and shiny” image and consumer amenities (upscale shopping, fine dining, and nightlife) available in some competitor communities (Frisco, Plano, Southlake, Grapevine, etc.) Perception/reality of absentee landlords as a barrier in portions of Irving DCURD’s infrastructure requirements in Las Colinas add a significant amount of cost to new development, especially for new office space Irving does not have the “Triple Freeport” tax exemptions that other cities bordering DFW International Airport have, but does offer these exemptions from the city case-by-case
OPPORTUNITIES
Wide range of sites with thousands of combined acres available for large-scale real estate development for new office space, mixed-use districts, and urban residential zones (University of Dallas land, former Texas Stadium site and surroundings, underutilized properties including ExxonMobil and Verizon campuses, and many other sites) Several sites with potential for transit-oriented development adjacent to DART Orange Line and TRE station Ongoing development of Music Factory (live music venue, restaurants, Alamo Drafthouse theater) will provide a major boost to Irving’s quality of place Recent/ongoing/planned urban residential development in Las Colinas is enhancing the district’s urban vitality Potential for development of more housing and space for businesses in Heritage Crossing District Investments and expansion of Highway 183 Expand education training partnerships between local employers and Irving ISD and North Lake College Expand aviation training collaboration between Aviation Institute, Irving ISD, and local employers Involve North Lake College and the University of Dallas more actively in business attraction efforts Attraction of growing companies from startup hotbeds (like Austin) when these companies are “ready to grow up” Connect the city’s efforts to create an incubator/accelerator with the innovation efforts taking place within major corporations, as well as startups
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Potential development of large floodplain area along Trinity River in southern section of city (adjacent to Grand Prairie) for recreational uses $20 million donation to University of Dallas business program from prominent Indian business family Potential for city to partner with NEC on a “smart cities” program. Expand partnerships with the business attraction efforts of the Dallas Regional Chamber’s DFW Marketing Team, the Governor’s Office, and TexasOne for economic development in Irving Potential for more sports tournaments to support local hospitality industry, especially on weekends (assuming facilities can be made available for these purposes) Leverage Las Colinas water features for events, development, and other purposes Large untapped potential for international business development from two sides: 1) the attraction of foreign-based firms into Irving; and 2) the expansion of Irving-based corporations into international markets DFW International Airport has plenty of land available for development, including hundreds of acres within the Irving city limits, many of which are prime sites for attracting aviation-related businesses and “business-on-demand” firms (management consulting, corporate training, IT) The southern section of DFW International Airport is experiencing high levels of interest for industrial development There is a large untapped opportunity for additional air cargo activity at DFW International Airport (currently, DFW International Airport has only a 2% market share of perishable products from Latin America while Miami International Airport has 70% of this market, but DFW is a more cost-effective option) Re-imagine Irving Mall to incorporate mixed-use development (residential, office, academic, research uses)
THREATS
Alcohol use/sale/consumption restrictions in park spaces limit the potential to establish a vibrant urban experience through the creation of festivals/events/live music in the Heritage Crossing District and other parts of the community Fierce competitive environment in Metroplex for business attraction. Many cities in the metro area have well-funded, successful economic development programs Competition for commercial real estate development between DFW International Airport and other properties in Irving Some of the city’s development regulations are unfavorable to dense urban, mixed-use development and to the adaptive re-use of old structures Negative perceptions of city due to recent minor earthquakes Relatively low achievement levels of Irving ISD (compared to surrounding districts such as Coppell ISD and Carrollton-Farmers Branch ISD) is a barrier to attracting high-wage professionals and business executives into the residential community and, in some cases, can impact the corporate site location decisions as well Some of Irving’s major employers (AT&T, TXU, and others) face increased competition from other companies seeking to disrupt traditional industries like telecommunications (Google) and electric utilities (Tesla) “Start and stop” nature of major developments (Water Street and Entertainment Center) in the high-growth DFW marketplace could cause Irving to miss out on current and short-term business attraction opportunities Perception of Irving and Las Colinas as two different cities
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ECONOMIC ASSESSMENT
LOCATION ADVANTAGES
FIGURE 8. REGIONAL MEAN CENTER OF POPULATION, 2010 THE DALLAS-FORT WORTH METRO AREA’S MEAN CENTER OF POPULATION IS IN IRVING The Dallas-Fort Worth metro area’s regional center of gravity sits within the municipal boundaries of Irving, making it the most centrally located city within the entire metro area (the mean center of population in more formal terminology). The regional center of gravity shifted 1 mile north from Highway 183 at Wingren Road in 2000 to near the intersection of O’Connor Boulevard and East Northgate Drive in 2010. In other words, from central Irving there are an equal number of Metroplex residents living in every direction. And as the region continues to grow, Irving will remain the most centrally located city for at least a few more decades, perhaps even longer. This centrality has huge implications for Irving’s economic development potential, especially in combination with the city’s many transportation assets (DFW International Airport, DART Orange Line, TRE, and several major highways). Irving’s locational advantages are the most commonly cited asset by the city’s businesses. And the results can be seen in the city’s impressive list of major employers (see Figure 15 on page 61) that call Irving home, thanks in large part to the city’s central location.
Source: US Census Bureau, TIP Strategies.
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FIGURE 9. TOP 10 BUSIEST AIRPORTS BY DOMESTIC PASSENGERS, 2014 DFW IS THE 3RD BUSIEST AIRPORT IN THE US FOR DOMESTIC PASSENGERS More than 27 million domestic passengers flew through DFW International Airport in 2014. If 2010-2014 growth rates continue, DFW will surpass Chicago O’Hare in 2018 as the 2nd busiest airport for domestic passengers.
DOMESTIC AVG. ANNUAL % NO. CODE AIRPORT PASSENGERS (2014) CHANGE (2010-2014) Hartsfield-Jackson Atlanta 1 ATL 41,331,492 1.8% International 2 ORD Chicago O'Hare International 28,098,448 1.6% 3 DFW Dallas/Fort Worth International 27,309,768 2.4% 4 LAX Los Angeles International 25,125,274 4.5% 5 DIA Denver International 24,877,202 1.6% 6 CLT Charlotte Douglass International 19,987,477 4.6% 7 PHX Phoenix Sky Harbor International 19,224,449 1.8% 8 LAS McCarran International (Las Vegas) 18,712,331 0.7% 9 SFO San Francisco International 17,744,960 4.1% 10 SEA Seattle/Tacoma International 15,996,552 2.8% Source: US Bureau of Transportation Statistics
FIGURE 10. GROWTH OF DOMESTIC AIR TRAVEL PASSENGERS, 2010-2014 DOMESTIC AIR TRAVEL AT DFW GREW BY AN AVERAGE ANNUAL RATE OF 2.4% FROM 2010-2014 DFW’s domestic air travel grew faster than 5 of the 10 busiest airports from 2010-2014.
Source: US Bureau of Transportation Statistics
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FIGURE 11. TOP 10 BUSIEST AIRPORTS BY INTERNATIONAL PASSENGERS, 2014 DFW IS THE 10TH BUSIEST AIRPORT IN THE US FOR INTERNATIONAL PASSENGERS More than 3 million international passengers traveled through DFW in 2014.
INTERNATIONAL AVG. ANNUAL % NO. CODE AIRPORT PASSENGERS (2014*) CHANGE (2010-2014) John F. Kennedy International (New 1 JFK 12,438,236 4.9% York) 2 MIA Miami International 8,801,714 4.8% 3 LAX Los Angeles International 8,338,162 4.4% 4 EWR Newark Liberty International 5,233,797 1.4% 5 ORD Chicago O'Hare International 4,999,478 1.3% 6 ATL Hartsfield-Jackson Atlanta International 4,788,272 4.0% 7 SFO San Francisco International 4,565,231 4.7% 8 IAH George Bush Intercontinental (Houston) 4,277,424 4.5% 9 IAD Washington Dulles International 3,160,720 3.3% 10 DFW Dallas/Fort Worth International 3,094,068 8.0% Source: US Bureau of Transportation Statistics. *Through Nov. 2014.
FIGURE 12. GROWTH OF INTERNATIONAL AIR TRAVEL PASSENGERS, 2010-2014 INTERNATIONAL TRAVEL IS GROWING FASTER AT DFW THAN THE OTHER 10 BUSIEST AIRPORTS DFW’s international passenger traffic grew at an average annual rate of 8% from 2010-2014, much faster than any of the other 10 busiest international airports.
Source: US Bureau of Transportation Statistics
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ECONOMIC TRENDS
FIGURE 13. TOTAL POPULATION IRVING’S POPULATION HAS GROWN RAPIDLY SINCE 2005 Irving’s population did not grow from 2000 to 2005, but it has grown by more than 38,000 residents from 2005 to 2013, a gain of 20%.
Source: US Census Bureau, Annual Population Estimates
FIGURE 14. TOTAL EMPLOYMENT IRVING’S ECONOMY HAS ADDED JOBS IN EACH OF THE LAST 5 YEARS The city’s job base has grown rapidly in recent years, finally surpassing the 2001 peak in 2014.
Source: EMSI, 2014.4 – QCEW Employees, Non-QCEW Employees, and Self-Employed.
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FIGURE 15. MAJOR EMPLOYERS IN IRVING, 2016 (IRVING HQs HIGHLIGHTED) THE CITY’S ECONOMIC BASE IS MADE UP OF DOZENS OF MAJOR EMPLOYERS IN A DIVERSE RANGE OF INDUSTRIES HQ LOCATION INDUSTRY/ (FOREIGN IN NO. EMPLOYER PRODUCT TYPE ITALICS) JOBS 1 CITI Banking & Financial Services New York, NY 6,500 2 Irving ISD Education Irving, TX 4,044 3 Verizon Communications Telecommunications New York, NY 3,260 4 Irving Mall (WP Glimcher) Retail Columbus, OH 2,100 5 Allstate Insurance Co Insurance Northbrook, IL 2,000 Overland Park, 6 YRC Freight Logistics & Distribution KS 1,941 7 City of Irving Government Irving, TX 1,846 8 DFW International Airport Transportation Irving, TX 1,700 9 Nokia Telecommunications Espoo, Finland 1,500 10 Quest Diagnostics Clinical Laboratory Services Madison, NJ 1,500 11 Michaels Stores Inc. Retail Irving, TX 1,388 12 Microsoft Corp IT Services & Products Redmond, WA 1,350 13 Neiman Marcus Direct Retail Dallas, TX 1,339 14 Health Management Systems (HMS) Health Care Irving, TX 1,299 15 7-Eleven Retail Dallas, TX 1,250 16 Signet Retail Irving, TX 1,250 17 Baylor Medical Center Health Care Dallas, TX 1,124 18 Pioneer Natural Resources USA Oil & Gas Production Irving, TX 1,090 19 North Lake College Education Irving, TX 1033 20 Archon Group Real Estate Services Irving, TX 1001 21 Four Seasons Resort and Club Hotels Toronto, Canada 960 22 TXU Energy Electric Utilities Dallas, TX 900 23 VHA Inc. Health Care Irving, TX 773 24 ACE Cash Express Inc. Payday Loans Irving, TX 729 25 Nissan North America Inc. Automotive Yokohama, Japan 715 26 Fed Ex Freight Logistics & Distribution Memphis, TN 700 27 Dr Pepper Snapple Group Soft Drinks Plano, TX 696 28 Computer Sciences Corporation IT Services Falls Church, VA 650 29 Fluor Corporation Engineering Irving, TX 650 30 AT&T Inc. Telecommunications Dallas, TX 644 31 Oracle Corp IT Services & Products Redwood City, CA 612 32 Liberty Mutual Insurance Insurance Boston, MA 600 33 NCH Corporation Maintenance Products Irving, TX 600 34 NEC Corporation of America IT Services & Products Tokyo, Japan 600 35 HCA Health Care Nashville, TN 550 36 Holt Cat Construction Equipment San Antonio, TX 550 37 ADT Security (previously Brink's) Security Systems Boca Raton, FL 535 38 Commercial Metals Company Steel & Metal Manufacturing Irving, TX 508
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HQ LOCATION INDUSTRY/ (FOREIGN IN NO. EMPLOYER PRODUCT TYPE ITALICS) JOBS 39 University of Dallas Education Irving, TX 507 40 Aviall Inc. Aerospace & Defense Irving, TX 500 41 Caris Diagnostics Biotechnology Irving, TX 500 42 Boy Scouts of America Nonprofit Organization Irving, TX 450 43 ExxonMobil Corporation Oil & Gas Production Irving, TX 403 44 Kimberly-Clark Corporation Consumer Goods Irving, TX 400 45 CEC Entertainment Restaurants Irving, TX 350 46 Flowserve Corporation Industrial/Environmental Machinery Irving, TX 350 47 Celanese Corporation Chemicals & Advanced Materials Irving, TX 324 48 Siemens Engineering Munich, Germany 300 49 Trend Micro Security Software Tokyo, Japan 245 Source: Greater Irving-Las Colinas Chamber of Commerce, Feb. 2016
FIGURE 16. FORTUNE 500 AND FORTUNE 1000 HEADQUARTERS IN IRVING, 2015 IRVING IS A SIGNIFICANT CENTER OF MAJOR CORPORATE HEADQUARTERS REVENUE (TRAILING 12 MONTHS NO. COMPANY INDUSTRY/PRODUCT TYPE ENDING DEC. 31 2015) 2 ExxonMobil Oil & Gas Production $236.81B 136 Fluor Corporation Engineering $18.11B 140 Kimberly-Clark Corporation Consumer Goods $18.59B 388 Commercial Metals Company Steel & Metal Manufacturing $5.46B 395 Celanese Corporation Chemicals & Advanced Materials $5.67B Pioneer Natural Resources 496 Oil & Gas Production $3.14B Company 528 Flowserve Corporation Industrial/Environmental Machinery $4.56B 544 Michaels Stores, Inc. Retail $4.84B 622 Darling Ingredients Food Production $3.59B Source: Fortune, Yahoo! Finance
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FIGURE 17. IRVING NET JOB CHANGE BY INDUSTRY, 2010-2014 IRVING’S RECENT JOB GROWTH HAS PRIMARILY COME FROM ADMINISTRATIVE SERVICES, PROFESSIONAL SERVICES, AND FINANCE & INSURANCE Irving has experienced rapid job growth in administrative services, professional services, and finance & insurance since 2010. In fact, those three sectors account for 59 percent of the city’s job growth from 2010-2014. The only significant declines in employment occurred in the wholesale trade and construction sectors in 2010 and 2011, but these sectors have recovered with solid job growth in 2013 and 2014. The following six sectors experienced net job growth in each of the last five years: oil, gas, & mining; information & media; healthcare; transportation & warehousing; professional services; and administrative services.
Source: EMSI, 2014.4 – QCEW Employees, Non-QCEW Employees, and Self-Employed.
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FIGURE 18. IRVING NET JOB CHANGE BY OCCUPATION, 2010-2014 PROFESSIONAL OCCUPATIONS MAKE UP A LARGE PORTION OF IRVING’S RECENT JOB GROWTH Irving has experienced solid job growth across a wide range of occupational groups, with net job growth in each of the last 5 years in 17 of the city’s 23 occupational categories. A large portion of the city’s recent job growth has taken place in professional office-related occupations, with the following five groups accounting for 53% of the city’s net job growth from 2010-2014: office & administrative support; computer & math science; business & financial operations; sales; and management.
Source: EMSI, 2014.4 – QCEW Employees, Non-QCEW Employees, and Self-Employed.
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FIGURE 19. UNEMPLOYMENT RATES (12-MONTH ROLLING AVG.), JAN. 2000-DEC. 2014 IRVING’S UNEMPLOYMENT RATE HAS REMAINED CONSISTENTLY BELOW US, TEXAS, AND REGIONAL RATES FOR MOST OF THE LAST 15 YEARS Irving’s end-of-year unemployment rate (Dec. 2014) of 3.6% was lower than the Dallas-Fort Worth MSA rate (4%), the Texas rate (4.1%), and the US rate (5.4%) for the same time period.
Source: US Bureau of Labor Statistics, Local Area Unemployment Statistics (state and local)
FIGURE 20. AVERAGE ANNUAL WAGES, 2001-2014 IRVING’S WAGES ARE SIGNIFICANTLY HIGHER THAN US, TEXAS, AND REGIONAL WAGE RATES Irving’s average annual wages grew from $47,350 in 2001 to $63,732 in 2014, an increase of nearly 35%. Wages in the city remain significantly higher than wages in the surrounding region, state, and US thanks to the high concentration of major corporate operations and professional jobs.
Source: EMSI, 2014.4 – QCEW Employees, Non-QCEW Employees, and Self-Employed.
ECONOMIC DEVELOPMENT STRATEGIC PLAN PAGE | 65 CITY OF IRVING, TX
COMMUTING PATTERNS
FIGURE 21. NET DAILY COMMUTER TRAFFIC FOR IRVING, 2002-2011 THE CITY IS A MAJOR EMPLOYMENT CENTER WITHIN THE DALLAS-FORT WORTH METRO AREA The number of commuters that live and work in Irving is relatively small (about 22,000 workers, less than 12 percent of Irving’s total jobs) and has not changed significantly over the last decade. The number of inbound commuters (people that work in Irving and live outside the city) has grown from 149,000 in 2002 to 166,000 in 2011, reflecting the city’s increasingly important role as a major business center within the Dallas-Fort Worth metro area. The number of outbound commuters has also increased significantly over the last decade, from 57,000 in 2002 to 71,000 in 2011, but remains much lower than the number of inbound commuters.
Source: US Census Bureau, Local Employment Dynamics (LED) database
ECONOMIC DEVELOPMENT STRATEGIC PLAN PAGE | 66 CITY OF IRVING, TX
FIGURE 22. DAILY NET INFLOW/OUTFLOW OF WORKERS BY SECTOR FOR IRVING, 2011 THE CITY IMPORTS A LARGE AMOUNT OF WORKERS IN MOST INDUSTRY SECTORS Thanks to its role as one of the most important business and employment centers in the DFW Metroplex, Irving experiences a large net daily inflow of commuters. The industries drawing the highest levels of inbound commuters are: finance & insurance (18,233 net inbound commuters); administrative/support services (14,919); and professional, scientific, and technical services (11,802).
Source: US Census Bureau, Local Employment Dynamics (LED) database
ECONOMIC DEVELOPMENT STRATEGIC PLAN PAGE | 67 CITY OF IRVING, TX
FIGURE 23. IRVING’S LABOR SHED CITIES WHERE IRVING WORKERS LIVE, 2011
Source: US Census Bureau, Local Employment Dynamics (LED) database, TIP Strategies.
IRVING LABOR SHED, 2011 CITIES WHERE IRVING WORKERS LIVE INBOUND COMMUTERS PERCENT OF TOTAL Dallas 26,045 13.9% Irving 22,215 11.8% Fort Worth 11,892 6.3% Arlington 9,312 5.0% Grand Prairie 6,523 3.5% Plano 5,775 3.1% Carrollton 4,386 2.3% Lewisville 4,282 2.3% Flower Mound 3,952 2.1% Frisco 3,352 1.8% All Other Locations 90,075 48.0% Source: US Census Bureau, Local Employment Dynamics (LED) database, TIP Strategies.
ECONOMIC DEVELOPMENT STRATEGIC PLAN PAGE | 68 CITY OF IRVING, TX
FIGURE 24. IRVING’S COMMUTE SHED, 2011 CITIES WHERE IRVING’S RESIDENTS WORK
Source: US Census Bureau, Local Employment Dynamics (LED) database, TIP Strategies.
IRVING COMMUTE SHED, 2011 CITIES WHERE IRVING RESIDENTS WORK OUTBOUND COMMUTERS PERCENT OF TOTAL Dallas 26,295 28.1% Irving 22,215 23.7% Fort Worth 4,253 4.5% Grapevine 3,458 3.7% Arlington 3,097 3.3% Plano 2,539 2.7% Carrollton 2,521 2.7% Farmers Branch 2,427 2.6% Grand Prairie 2,285 2.4% Richardson 1,729 1.8% All Other Locations 22,851 24.4% Source: US Census Bureau, Local Employment Dynamics (LED) database
ECONOMIC DEVELOPMENT STRATEGIC PLAN PAGE | 69 CITY OF IRVING, TX
INDUSTRY ANALYSIS
FIGURE 25. DISTRIBUTION OF EMPLOYMENT BY INDUSTRY, 2014 SHARE OF TOTAL EMPLOYMENT BY MAJOR INDUSTRY SECTOR Irving’s employment is highly concentrated in three sectors: administrative & support services (14.7 percent of total employment); professional services (11.9 percent); and finance & insurance (11.8 percent). Together, these three sectors account for more than 38 percent of Irving’s total employment, compared to less than 15 percent of US employment. The city has a much lower percentage of jobs than the Dallas-Fort Worth metro area, Texas and the US in the following three sectors: retail trade (6.6 percent); private educational services (6.3%); and healthcare & social assistance (5.6%).
Dallas-Fort NAICS Code & Description Irving W orth M SA Tex a s US 56 Administrative & support services 1 4 .7 % 8.4% 6.6% 6.3% 54 Professional services 1 1 .9 % 7.0% 6.1% 6.3% 52 Finance & insurance 1 1 .8 % 6.1% 4.3% 4.1% 42 W holesale trade 7.0% 5.3% 4.6% 3.9% 72 Lodging, restaurants, & bars 6.7% 8.3% 8.4% 8.3% 44-45 Retail trade 6.6% 9 .9 % 1 0 .3 % 1 0 .4 % 51 Information 6.4% 2.4% 1.7% 1.9% 61 Educational services (private) 6.3% 8 .5 % 9 .7 % 9 .3 % 62 Healthcare & social assistance 5.6% 1 0 .4 % 1 1 .6 % 1 3 .1 % 23 Construction 4.7% 5.9% 6.6% 5.2% 48-49 Transportation & warehousing 3.7% 4.9% 4.0% 3.7% 81 Personal & other services 3.5% 5.0% 4.8% 4.8% 31-33 Manufacturing 3.5% 7.5% 7.0% 8.1% 55 Corporate & regional offices 2.7% 1.0% 0.7% 1.4% 53 Property sales & leasing 2.5% 2.1% 1.8% 1.6% 71 Arts, entertainment, & recreation 0.8% 1.4% 1.1% 1.6% 9011 Federal govt., civilian 0.6% 0.9% 1.2% 1.5% 21 Mining (incl. oil & gas) 0.4% 1.0% 2.5% 0.6% 22 Utilities 0.4% 0.3% 0.4% 0.4% 9012 Federal govt., military 0.3% 0.5% 1.4% 1.3% 903 Local govt. (incl. pub. ed. & hospitals) 0.0% 2.6% 2.9% 3.6% 11 Agriculture & forestry 0.0% 0.2% 0.8% 1.2% 902 State govt. (incl. higher ed./ hospitals) 0.0% 0.4% 1.1% 1.5%
Source: EMSI, 2014.4 – QCEW Employees, Non-QCEW Employees, and Self-Employed.
ECONOMIC DEVELOPMENT STRATEGIC PLAN PAGE | 70 CITY OF IRVING, TX
FIGURE 26. CONCENTRATION OF EMPLOYMENT BY INDUSTRY, 2014 LOCATION QUOTIENT (LQ) ANALYSIS BY MAJOR INDUSTRY SECTOR, US=1.00 Location quotient (LQ) analysis can provide an understanding of LOCATION QUOTIENT (LQ) ANALYSIS is a an area’s relative strengths. A review of LQs reveals a number of statistical technique used to suggest areas of differences between Irving and the surrounding regional, state, and relative advantage based on a region’s employment national economy. Employment levels are much higher in Irving base. LQs are calculated as an industry’s share of than in the Dallas-Fort Worth MSA for the following sectors: total local employment divided by the same information (LQ of 3.41); finance & insurance (2.92); administrative industry’s share of employment at the national level. & support services (2.36); corporate & regional offices (1.91); and If the local industry and national industry are professional services (1.88). Irving has lower concentrations of perfectly proportional, the LQ will be 1.00. LQs employment than the MSA in the following sectors: retail trade greater than 1.25 are presumed to indicate a comparative advantage; those below 0.75 suggest (0.63); arts, entertainment, & recreation (0.47); manufacturing an under-developed sector but may also point to (0.43); and healthcare & social assistance (0.43). opportunities for expansion/attraction.
Dallas-Fort NAICS Code & Description Irving W orth M SA Tex a s US 51 Information 3 .4 1 1 .2 6 0.89 1.00 52 Finance & insurance 2 .9 2 1 .5 1 1.07 1.00 56 Administrative & support services 2 .3 6 1 .3 4 1.06 1.00 55 Corporate & regional offices 1 .9 1 0.73 0.51 1.00 54 Professional services 1 .8 8 1.11 0.97 1.00 42 W holesale trade 1 .7 8 1 .3 5 1.18 1.00 53 Property sales & leasing 1 .5 3 1 .2 7 1.11 1.00 22 Utilities 1.06 0.74 1.08 1.00 48-49 Transportation & warehousing 1.02 1 .3 5 1.11 1.00 23 Construction 0.91 1.13 1 .2 7 1.00 72 Lodging, restaurants, & bars 0.81 1.00 1.02 1.00 81 Personal & other services 0.74 1.05 1.01 1.00 61 Educational services (private) 0.67 0.91 1.04 1.00 21 Mining (incl. oil & gas) 0.67 1 .6 7 4 .3 6 1.00 44-45 Retail trade 0.63 0.95 0.99 1.00 71 Arts, entertainment, & recreation 0.47 0.87 0.70 1.00 31-33 Manufacturing 0.43 0.93 0.87 1.00 62 Healthcare & social assistance 0.43 0.79 0.88 1.00 9011 Federal govt., civilian 0.37 0.62 0.83 1.00 9012 Federal govt., military 0.19 0.36 1.05 1.00 11 Agriculture & forestry 0.01 0.15 0.65 1.00 903 Local govt. (incl. pub. ed. & hospitals) 0.01 0.73 0.81 1.00 902 State govt. (incl. higher ed./ hospitals) 0.00 0.26 0.77 1.00
Source: EMSI, 2014.4 – QCEW Employees, Non-QCEW Employees, and Self-Employed.
ECONOMIC DEVELOPMENT STRATEGIC PLAN PAGE | 71 CITY OF IRVING, TX
FIGURE 27. TOP 30 INDUSTRIES IN IRVING RANKED BY LOCATION QUOTIENT, 2014 IRVING HAS A HIGH LEVEL OF EMPLOYMENT IN MANY HIGH-PAYING SECTORS Irving has a high concentration of jobs in sectors tied to finance & insurance, information, and professional services. Of the top 30 sectors ranked by LQ, 10 sectors have average annual earnings per worker above $100,000, and 19 sectors have average annual earnings per worker above $75,000. And the majority (21 of 30) of these sectors are projected to add jobs from 2014 to 2019.
Jobs Jobs N et Chg., Projected LQ NAICS Code & Description 2010 2014 2 0 1 0 -1 4 Chg.* EPW** 2014 5222 Nondepository Credit Intermediation 8,942 9,843 +901 p $88,588 11.62 5179 Other Telecommunications 1,412 1,215 -197 q $111,402 9.81 Lessors of Nonfinancial Intangible Assets (except Copyrighted 5331 W orks) 169 298 +128 p $130,810 9.12 4882 Support Activities for Rail Transportation 223 363 +139 p $40,572 8.35 5152 Cable and Other Subscription Programming 515 710 +194 q $87,919 6.80 5112 Software Publishers 2,363 2,805 +442 p $151,315 6.54 Household Appliances and Electrical and Electronic Goods 4236 Merchant W holesalers 3,182 2,950 -232 q $147,793 6.33 5171 W ired Telecommunications Carriers 4,733 5,313 +580 q $135,551 6.07 5172 W ireless Telecommunications Carriers (except Satellite) 973 1,284 +311 q $107,843 5.71 4246 Chemical and Allied Products Merchant W holesalers 873 964 +91 p $91,968 5.18 5619 Other Support Services 1,308 2,104 +796 p $53,312 4.71 5616 Investigation and Security Services 4,815 5,718 +903 p $46,480 4.51 5415 Computer Systems Design and Related Services 9,255 11,576 +2,321 p $110,618 4.24 4541 Electronic Shopping and Mail-Order Houses 1,984 2,133 +149 p $71,428 4.19 5614 Business Support Services 5,278 5,312 +34 q $46,802 3.97 6215 Medical and Diagnostic Laboratories 1,376 1,491 +115 p $75,659 3.90 3119 Other Food Manufacturing 790 935 +145 p $86,903 3.63 5182 Data Processing, Hosting, and Related Services 1,521 1,415 -105 p $118,346 3.60 4855 Charter Bus Industry 68 150 +82 q $23,024 3.36 3121 Beverage Manufacturing 694 847 +153 p $78,671 3.10 5323 General Rental Centers 157 187 +31 q $66,582 3.09 4881 Support Activities for Air Transportation 322 777 +456 q $40,436 3.08 5613 Employment Services 9,390 14,089 +4,699 p $38,166 2.78 5416 Management, Scientific, and Technical Consulting Services 4,820 5,911 +1,091 p $111,047 2.73 5611 Office Administrative Services 1,685 1,802 +117 p $113,343 2.68 5241 Insurance Carriers 3,985 4,678 +693 p $94,657 2.51 5615 Travel Arrangement and Reservation Services 480 745 +265 p $53,881 2.46 5242 Agencies, Brokerages, and Other Insurance Related Activities 2,991 4,169 +1,178 p $88,886 2.22 5313 Activities Related to Real Estate 2,123 2,351 +228 p $66,183 2.22 Source: EMSI, 2014.4 – QCEW Employees, Non-QCEW Employees, and Self-Employed. Figures exclude industries with fewer than 100 jobs in 2014. *Directional trend of EMSI employment projections through 2019. **Earnings per worker (EPW) = Total annual earnings of a regional industry (wages, salaries, profits, benefits, and other compensation) divided by the number of jobs in the industry. It is intended to provide an indication of the industry’s impact and is not equivalent to wages paid to individual workers.
ECONOMIC DEVELOPMENT STRATEGIC PLAN PAGE | 72 CITY OF IRVING, TX
FIGURE 28. TOP 30 INDUSTRIES IN IRVING RANKED BY NET JOB CHANGE, 2010-2014 A LARGE PORTION OF IRVING’S JOB GROWTH HAS TAKEN PLACE IN HIGH-PAYING INDUSTRIES Thanks to Irving’s large base of corporate headquarters and other major corporate operations, a large portion of the city’s recent job growth has taken place in sectors related to professional services and finance & insurance, many of which are high-paying jobs. Of the top 30 sectors ranked by net job growth from 2010-2014, 9 sectors have average annual earnings per worker of more than $100,000.
Jobs Jobs N et Chg., Projected LQ NAICS Code & Description 2010 2014 2 0 1 0 -1 4 Chg.* EPW** 2014 5613 Employment Services 9,390 14,089 +4,699 p $38,166 2 .7 8 5415 Computer Systems Design and Related Services 9,255 11,576 +2,321 p $110,618 4 .2 4 7225 Restaurants and Other Eating Places 7,771 9,024 +1,254 p $22,519 0.65 5242 Agencies, Brokerages, and Other Insurance Related Activities 2,991 4,169 +1,178 p $88,886 2 .2 2 5416 Management, Scientific, and Technical Consulting Services 4,820 5,911 +1,091 p $111,047 2 .7 3 5616 Investigation and Security Services 4,815 5,718 +903 p $46,480 4 .5 1 5222 Nondepository Credit Intermediation 8,942 9,843 +901 p $88,588 1 1 .6 2 5511 Management of Companies and Enterprises 4,979 5,801 +821 p $120,100 1 .9 1 5619 Other Support Services 1,308 2,104 +796 p $53,312 4 .7 1 5241 Insurance Carriers 3,985 4,678 +693 p $94,657 2 .5 1 5171 W ired Telecommunications Carriers 4,733 5,313 +580 q $135,551 6 .0 7 9036 Education and Hospitals (Local Government) 6,104 6,641 +537 p $54,183 0.55 2382 Building Equipment Contractors 2,878 3,369 +492 p $64,304 1.14 5221 Depository Credit Intermediation 4,441 4,930 +490 p $102,222 2 .0 3 4841 General Freight Trucking 3,057 3,525 +468 p $65,391 2 .1 5 4881 Support Activities for Air Transportation 322 777 +456 q $40,436 3 .0 8 5112 Software Publishers 2,363 2,805 +442 p $151,315 6 .5 4 4249 Miscellaneous Nondurable Goods Merchant W holesalers 536 951 +415 p $61,410 1 .9 3 4411 Automobile Dealers 1,428 1,813 +385 p $64,743 1.05 6216 Home Health Care Services 1,424 1,740 +315 p $25,747 0.91 5172 W ireless Telecommunications Carriers (except Satellite) 973 1,284 +311 q $107,843 5 .7 1 6111 Elementary and Secondary Schools 1,256 1,561 +305 p $48,376 1.08 4529 Other General Merchandise Stores 855 1,138 +283 p $27,753 0.44 2373 Highway, Street, and Bridge Construction 430 702 +273 p $62,693 1 .6 0 5413 Architectural, Engineering, and Related Services 3,283 3,550 +267 q $105,817 1 .6 6 5615 Travel Arrangement and Reservation Services 480 745 +265 p $53,881 2 .4 6 5223 Activities Related to Credit Intermediation 617 874 +257 p $79,038 2 .1 0 5239 Other Financial Investment Activities 756 988 +232 p $176,616 1 .3 9 5313 Activities Related to Real Estate 2,123 2,351 +228 p $66,183 2 .2 2 Source: EMSI, 2014.4 – QCEW Employees, Non-QCEW Employees, and Self-Employed. *Directional trend of EMSI employment projections through 2019. **Earnings per worker (EPW) = Total annual earnings of a regional industry (wages, salaries, profits, benefits, and other compensation) divided by the number of jobs in the industry. It is intended to provide an indication of the industry’s impact and is not equivalent to wages paid to individual workers.
ECONOMIC DEVELOPMENT STRATEGIC PLAN PAGE | 73 CITY OF IRVING, TX
WORKFORCE AND OCCUPATIONAL ANALYSIS
FIGURE 29. AGE STRUCTURE IRVING HAS A RELATIVELY HIGH PROPORTION OF WORKING AGE ADULTS Irving has a much higher percentage of young adults (age 20 to 34) than regional, state, and US averages.
Source: US Census Bureau, Population Estimates Program; 2009-2013 American Community Survey 5-Year Estimates.
FIGURE 30. EDUCATIONAL ATTAINMENT IRVING HAS A WELL-EDUCATED POPULATION AT THE UPPER END OF THE SPECTRUM The city has a higher percentage of residents with bachelor’s degrees or higher than regional, state, and national rates. However, Irving also has a relatively high percentage of residents without a high school education.
Source: US Census Bureau, Population Estimates Program; 2009-2013 American Community Survey 5-Year Estimates.
ECONOMIC DEVELOPMENT STRATEGIC PLAN PAGE | 74 CITY OF IRVING, TX
FIGURE 31. DISTRIBUTION OF EMPLOYMENT BY OCCUPATION, 2014 SHARE OF TOTAL EMPLOYMENT BY MAJOR OCCUPATIONAL GROUP Irving has a substantially higher percentage of jobs in office and professional occupations than the Dallas-Fort Worth metro area, Texas and the US. The city a relatively large share of workers in these occupations: office & administrative support (21.5 percent of all jobs); business & financial operations (8.7%); computer & mathematical (7.9%); and management (5.8%). Irving has a relatively low percentage of workers in these occupations: healthcare practitioners & technical (3.2%); education, training, & library (3.1%); and healthcare support (1.3%).
Dallas-Fort SOC Code & Description Irving W orth M SA Tex a s US 43-0000 Office & Administrative Support 2 1 .5 % 1 7 .3 % 1 5 .9 % 1 5 .3 % 41-0000 Sales & Related 1 1 .3 % 1 1 .1 % 1 0 .6 % 1 0 .4 % 13-0000 Business & Financial Operations 8 .7 % 5.7% 4.5% 4.9% 15-0000 Computer & Mathematical 7.9% 3.7% 2.7% 2.6% 53-0000 Transportation & Material Moving 7.0% 7.0% 6.7% 6.4% 11-0000 Management 5.8% 5.0% 4.9% 5.3% 35-0000 Food Prep. & Serving Related 5.2% 8 .0 % 8 .2 % 8 .2 % 49-0000 Installation, Maintenance, & Repair 4.7% 4.1% 4.3% 3.8% 51-0000 Production 4.0% 5.5% 5.6% 6.0% 47-0000 Construction & Extraction 3.8% 4.8% 5.9% 4.4% 29-0000 Healthcare Practitioners & Technical 3.2% 4.8% 4.8% 5.4% 25-0000 Education, Training, & Library 3.1% 5.1% 5.7% 5.8% 37-0000 Building/ Grounds Cleaning & Maint. 2.8% 3.6% 3.6% 3.8% 33-0000 Protective Service 2.2% 2.2% 2.3% 2.2% 39-0000 Personal Care & Service 2.2% 3.5% 4.2% 3.9% 17-0000 Architecture & Engineering 2.1% 1.9% 2.0% 1.7% 27-0000 Arts, Entertainment, & Media 1.4% 1.5% 1.3% 1.7% 31-0000 Healthcare Support 1.3% 2.2% 2.4% 2.8% 19-0000 Life, Physical, & Social Science 0.7% 0.5% 0.7% 0.8% 21-0000 Community & Social Service 0.5% 1.1% 1.2% 1.6% 23-0000 Legal 0.4% 0.8% 0.7% 0.8% 55-0000 Military 0.3% 0.5% 1.4% 1.3% 45-0000 Farming, Fishing, & Forestry 0.1% 0.1% 0.5% 0.7% Source: EMSI, 2014.4 – QCEW Employees, Non-QCEW Employees, and Self-Employed.
ECONOMIC DEVELOPMENT STRATEGIC PLAN PAGE | 75 CITY OF IRVING, TX
FIGURE 32. CONCENTRATION OF EMPLOYMENT BY OCCUPATION, 2014 LOCATION QUOTIENT (LQ) ANALYSIS BY MAJOR OCCUPATIONAL GROUP, US=1.00 Irving’s most highly concentrated occupational category is computer & mathematical workers (an LQ of 3.01) thank to the city’s large presence of major technology companies (Microsoft, NEC, Oracle, and others). This is a major area of strength that can be leveraged to support the expansion of existing technology firms and the attraction of new technology companies. The city also has occupational strengths in business & financial operations (1.78); architecture & engineering (1.40); and office & administrative support (1.28).
Dallas-Fort SOC Code & Description Irving W orth M SA Tex a s US 15-0000 Computer & Mathematical 3 .0 1 1 .3 9 1.01 1.00 13-0000 Business & Financial Operations 1 .7 8 1.17 0.93 1.00 17-0000 Architecture & Engineering 1 .4 0 1.13 1.04 1.00 43-0000 Office & Administrative Support 1 .2 8 1.17 1.19 1.00 53-0000 Transportation & Material Moving 1.24 1.09 1.12 1.00 49-0000 Installation, Maintenance, & Repair 1.10 0.95 0.93 1.00 47-0000 Construction & Extraction 1.09 1.09 1.04 1.00 41-0000 Sales & Related 1.08 1.06 1.02 1.00 35-0000 Food Prep. & Serving Related 0.97 0.97 1.04 1.00 33-0000 Protective Service 0.86 1.08 1 .3 4 1.00 23-0000 Legal 0.81 0.87 0.76 1.00 11-0000 Management 0.80 0.67 0.86 1.00 37-0000 Building/ Grounds Cleaning & Maint. 0.73 0.93 0.95 1.00 51-0000 Production 0.67 0.92 0.92 1.00 29-0000 Healthcare Practitioners & Technical 0.64 0.98 1.00 1.00 39-0000 Personal Care & Service 0.60 0.90 0.90 1.00 25-0000 Education, Training, & Library 0.56 0.89 1.07 1.00 27-0000 Arts, Entertainment, & Media 0.53 0.89 0.99 1.00 31-0000 Healthcare Support 0.47 0.97 0.86 1.00 21-0000 Community & Social Service 0.45 0.77 0.86 1.00 19-0000 Life, Physical, & Social Science 0.29 0.67 0.72 1.00 55-0000 Military 0.19 0.36 1.05 1.00 45-0000 Farming, Fishing, & Forestry 0.07 0.17 0.61 1.00
Source: EMSI, 2014.4 – QCEW Employees, Non-QCEW Employees, and Self-Employed.
ECONOMIC DEVELOPMENT STRATEGIC PLAN PAGE | 76 CITY OF IRVING, TX
FIGURE 33. IRVING RELATIVE MEDIAN HOURLY WAGE RATES OCCUPATION, 2014 IRVING WAGES PRESENTED IN THE CONTEXT OF US WAGE RANGE Line = US wage range from 10th to 90th percentile; Markers = median hourly wage rates for US (x) and Irving (dot) Irving’s wages are generally higher than the US median wage, but there are several differences across occupational categories. The city has significantly higher wages than the US average in the following categories: management; architecture & engineering; business & financial operations; community & social service; and sales & related occupations. Irving has significantly lower wages than the US average for the following groups: protective service (e.g., police and fire); production; and construction & extraction.
Source: EMSI, 2014.4 – QCEW Employees, Non-QCEW Employees, and Self-Employed.
ECONOMIC DEVELOPMENT STRATEGIC PLAN PAGE | 77 CITY OF IRVING, TX
BENCHMARK COMPARISONS
The Dallas-Fort Worth metro area is one of the most competitive environments in the US for economic development. Irving competes with Dallas, Fort Worth, and dozens of suburbs to capture job growth, capital investment, and tax base. This section provides comparisons between Irving and a number of other cities in the surrounding metro area to provide a baseline understanding of how the city’s economy stacks up against competitor communities. The following cities are included in this benchmark comparison to Irving based two factors: 1) their role as major centers of employment and population in the Dallas-Fort Worth region; and 2) their status as competitors to Irving.
FIGURE 34. BENCHMARK CITIES IN THE DALLAS-FORT WORTH METRO AREA
Source: US Census Bureau, TIP Strategies.
BENCHMARK CITY POPULATION (2010) POPULATION (2013) GROWTH RATE (2010-2013) Allen 84,246 92,020 9.2% Arlington 365,438 379,577 3.9% Carrollton 119,097 126,700 6.4% Dallas 1,197,816 1,257,676 5.0% Fort Worth 741,206 792,727 7.0% Frisco 116,989 136,791 16.9% Irving 216,290 228,653 5.7% McKinney 131,117 148,559 13.3% Plano 259,841 274,409 5.6% Richardson 99,223 104,475 5.3%
ECONOMIC DEVELOPMENT STRATEGIC PLAN PAGE | 78 CITY OF IRVING, TX
FIGURE 35. NUMBER OF INBOUND/OUTBOUND COMMUTERS, 2011 IRVING HAS THE 2ND HIGHEST AMOUNT OF INBOUND COMMUTERS Irving has a higher number of inbound commuters than any city besides Dallas, emphasizing its role as a premier employment center within the metro area.
Source: US Census Bureau, Local Employment Dynamics (LED) database
FIGURE 36. INBOUND/OUTBOUND COMMUTING RATIO*, 2011 IRVING HAS THE 2ND HIGHEST RATIO OF JOBS TO EMPLOYED RESIDENTS Irving has a higher jobs/employed residents ratio than any city besides Richardson, highlighting the city’s importance as a major business center.
Source: US Census Bureau, Local Employment Dynamics (LED) database
*A ratio of 1.0 represents an equal number of jobs and employed residents within the city. Cities with inbound/outbound commuting ratios significantly above 1.0 are centers of employment. Cities with ratios significantly below 1.0 are “bedroom communities” dominated by housing.
ECONOMIC DEVELOPMENT STRATEGIC PLAN PAGE | 79 CITY OF IRVING, TX
FIGURE 37. POPULATION & MEDIAN AGE IRVING IS A RELATIVELY YOUNG CITY AND IS GROWING MUCH FASTER THAN THE US AVERAGE Irving’s population grew by 5.7 percent from 2010 to 2013, more than twice the US growth rate of 2.2 percent for the same period. However, several benchmark cities (especially Frisco, McKinney, and Allen) grew much faster.
2010 to 2013 M edia n City 2010 2013 N et Chg. % Chg. Age Frisco 116,989 136,791 +87,022 +16.9% 34.5 McKinney 131,117 148,559 +6,115 +13.3% 33.0 Allen 84,246 92,020 +7,774 +9.2% 35.1 Fort W orth 741,206 792,727 +8,221 +7.0% 31.5 Carrollton 119,097 126,700 +118,346 +6.4% 36.2 Irving 216,290 228,653 +12,363 +5.7% 31.6 Plano 259,841 274,409 +6,115 +5.6% 37.5 Richardson 99,223 104,475 +5,252 +5.3% 36.5 Dallas 1,197,816 1,257,676 +15,481 +5.0% 32.0 Arlington 365,438 379,577 +30,221 +3.9% 32.0 US 309.3 M 316.1 M +6 .8 M +2 .2 % 3 7 .3
Source: US Census Bureau, Population Estimates Program; 2009-2013 American Community Survey 5-Year Estimates.
FIGURE 38. CIVILIAN LABOR FORCE & UNEMPLOYMENT RATE IRVING HAS A LOW UNEMPLOYMENT RATE AND A RAPIDLY GROWING LABOR FORCE Irving’s labor force grew by 7.4 percent from 2010 to 2014, more than 7 times the US rate during that period.
2010 to 2014 Unemployment City Current* 2010 2014 Net Chg. % Chg. Rate (Feb. 2015) Frisco 216,700 63,017 74,702 +11,685 +18.5% 3.0 McKinney 78,446 68,048 78,040 +9,992 +14.7% 3.5 Allen 614,034 45,446 50,447 +5,001 +11.0% 3.5 Fort W orth 184,477 357,927 390,808 +32,881 +9.2% 4.1 Carrollton 270,044 69,266 75,007 +5,741 +8.3% 3.6 Plano 320,546 142,951 153,708 +10,757 +7.5% 3.8 Irving 1,023,182 115,709 124,307 +8,598 +7.4% 3.9 Richardson 320,546 53,124 56,910 +3,786 +7.1% 3.9 Dallas 843,675 600,009 638,792 +38,783 +6.5% 4.3 Arlington 911,785 193,018 205,170 +12,152 +6.3% 4.1 US 156.2 M 153.9 M 155.4 M +1.5 M +1 .0 % 5 .8
Source: US Census Bureau, Population Estimates Program; 2009-2013 American Community Survey 5-Year Estimates.
ECONOMIC DEVELOPMENT STRATEGIC PLAN PAGE | 80 CITY OF IRVING, TX
FIGURE 39. RACIAL DIVERSITY (WHITE POPULATION AS PERCENT OF TOTAL), 2013 IRVING HAS A MORE DIVERSE POPULATION THAN MOST OF ITS BENCHMARKS Irving’s white population makes up only 30 percent of the city’s total population, making the community much more diverse than most of the benchmark cities.
Source: US Census Bureau, Population Estimates Program; 2009-2013 American Community Survey 5-Year Estimates.
FIGURE 40. FOREIGN-BORN POPULATION (AS PERCENT OF TOTAL), 2013 IRVING HAS A MUCH HIGHER LEVEL OF FOREIGN-BORN RESIDENTS THAN ITS BENCHMARKS CITIES More than one-third (34 percent) of Irving’s residents were born outside the US, making the community far more international than any of the benchmark cities.
Source: US Census Bureau, Population Estimates Program; 2009-2013 American Community Survey 5-Year Estimates.
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FIGURE 41. PERCENT OF POP. (AGE 25+) WITH BACHELOR’S DEGREE OR HIGHER, 2013 MORE THAN ONE-THIRD OF IRVING’S ADULT RESIDENTS HOLD A BACHELOR’S DEGREE OR HIGHER The city has a higher percentage of adults with a bachelor’s degree or higher than Dallas, Arlington, and Fort Worth, but is not as well-educated as most of the benchmark cities.
Source: US Census Bureau, Population Estimates Program; 2009-2013 American Community Survey 5-Year Estimates.
FIGURE 42. PERCENT OF POP. (AGE 25+) WITHOUT HIGH SCHOOL DIPLOMA, 2013 MORE THAN 20 PERCENT OF IRVING’S ADULT RESIDENTS LACK A HIGH SCHOOL EDUCATION Only Dallas and Fort Worth have a higher percentage of adults without a high school diploma than Irving.
Source: US Census Bureau, Population Estimates Program; 2009-2013 American Community Survey 5-Year Estimates.
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FIGURE 43. K-12 STUDENT PERFORMANCE, 2014 IRVING ISD IS THE LOWEST-PERFORMING SCHOOL DISTRICT AMONG THE BENCHMARKS Irving ISD ranks 844th among 965 total school districts in Texas according to its test scores as reported by School Digger. Three of the benchmark districts (Frisco, Allen, and Coppell) rank in the top 10 percent o.
2014 Rank (of 965 N umber of Rank Change School District Districts in Texas) Students 2014 Rank Score (from 2013) Frisco ISD 20 42,707 0.925 -7 Allen ISD 37 19,894 0.894 -15 Coppell ISD 66 10,999 0.853 +2 Plano ISD 152 55,185 0.760 -1 McKinney ISD 259 24,443 0.674 -30 Richardson ISD 312 38,043 0.634 -27 Carrollton-Farmers Branch ISD 375 26,385 0.591 -30 Arlington ISD 665 65,001 0.379 -60 Dallas ISD 689 158,919 0.361 -29 Fort W orth ISD 761 83,419 0.296 -32 Irving ISD 844 3 5 ,0 3 0 0 .2 1 8 -1 5
Source: School Digger
FIGURE 44. HOUSING PERMITS ISSUED PER 1,000 RESIDENTS, 2010-2014 IRVING HAS ADDED NEW HOUSING AT A SLOWER PACE THAN MOST OF THE BENCHMARK CITIES The city added new housing units (including all single-family and multi-family) from 2010-2014 at a faster pace than Dallas, Plano, and Arlington, but slower than most of the benchmark cities.
Source: US Dept. of Housing and Urban Development, Building Permits Database.
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FIGURE 45. WALKABILITY IRVING HAS A HIGHER WALKSCORE (FROM 1 TO 100) THAN MOST OF ITS COMPETITOR CITIES Walk Score is a ranking between 0 and 100 that grades the walkability of cities and neighborhoods across the US using a patented system that analyzes data from a wide range of sources. Irving has a Walk Score of 42, higher than all of the benchmarks cities except Dallas. The southern section of Irving is the most walkable part of the city.
Source: Walk Score
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