City of Economic Profile 2017

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org TABLE OF CONTENTS

Welcome to The City of Dallas Economic Profile 2017. This Profile introduces Dallas to prospective investors, developers, businesses, and residents. Its purpose is to support the development process by informing the private sector so that both public and private returns are maximized. The Profile’s individual pages are designed so that they can be combined in ways to support each client’s specific needs. All components are available on The City of Dallas Office of Economic Development (ECO) website at DallasEcoDev.org, where you can also stay up-to-date on the latest news, events, and more. Overview: City of Dallas & DFW Area 23. Research & Development 44. Commuting and Labor Shed 3. Dallas Competitive Advantages 24. International Trade 45. Catalyst: Uptown/Greater Downtown 4. U.S. & Global Context 25. Logistics Infrastructure 46. Catalyst: Corridor 5. Dallas is North America’s City Center 26. Public Transportation 47. Dallas Film Commission 6. Dallas and the Economy 27. Water Supply 7. Dallas-Fort Worth Metro Area 28. Taxes Quality of Life Comparisons 29. Utility Pricing 48. Quality of Life Overview 8. City of Dallas & Dallas-Fort Worth 30. Office Rents 49. Cost Of Living Overview 31. Industrial Rents 50. Cultural Arts 9. Dallas City and Metro Demographics 51. Sports and Recreation 10. City of Dallas Overview Map Employment in Dallas 52. Shopping and Dining 11. The Largest City in the Top U.S. 32. Career Opportunities 53. Colleges and Universities Metropolitan Economy 33. Workforce 54. Primary and Secondary Education

34. For Employers 55. Health and Wellness Business Environment 35. Workforce Training 56. Climate and Ecology 12. Economic Milestones 57. Environmental Stewardship 13. Major Dallas Industries Economic Development Strategy 14. Fortune 500 Companies 36. 2016 Year In Review / Awards Economic Statistics 15. Dallas-Headquartered Companies 38. Development Policy 58. Unemployment Rate 16. DFW Top Private Employers 39. Business Development Programs 59. Construction Activity 17. Top Recent Relocations / Expansion in 60. Annual Gross Sales Dallas 40. Redevelopment Programs 61. Gross City Product Estimate 21. Small Business Statistics 41. Major Infrastructure Projects 42. Catalyst: 62. Comparative Metro Home Prices 22. Women- & Minority-Owned Business 63. City of Dallas Stock Index Enterprises 43. Downtown Statistics City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 2 DALLAS COMPETITIVE ADVANTAGES

The Talent. Dallas businesses have access to an almost 3.5 million strong workforce, where 33% of regional workers have at least a college degree. There are over 860,000 professionals in management, finance, computing, architecture, engineering and the sciences and over 430,000 professionals in education and health services. A diverse economy offers many opportunities for dual profession families and assures a strong pool of talent for area businesses. The Companies. The Dallas area is home to 22 Fortune 500 companies. The city is home to over 250 corporate headquarters that each employ more than 1,000 people globally. Of Forbes’ largest privately held companies, eight are located in the Dallas area. The Places. The city is home to 131.9 million sq. ft. of office space, along with thousands DART Rail Inland Port of acres of vacant developable land for distribution, office, and retail use. The Lifestyle. With the cost of living equal to the national average and no personal income tax, Dallas offers a wonderful quality of life. A growing transit system includes 64 light rail stations. Area colleges and universities enroll 298,000 students, and Dallas has the largest arts district in the U.S. Thousands of restaurants, 28 libraries, 82.1 million sq. ft. of shopping, 23,000 park acres, 154 miles of trails, plus franchises for all the major professional sports leagues provide endless entertainment. The World. DFW International Airport and put the city less than 3.5 Credit: Kauwuane hours from major North American business centers: New York, , Mexico City, Credit: Kauwuane Burton Photography Burton Photography Toronto, and Atlanta. Five interstate highways put over 35% of the U.S. Southwest Airlines HQ Continental Avenue Bridge population within 48 hours of Dallas by truck, and three class I railroads put 98% within 48 hours by rail. The Future. Dallas is a growing city with a local market of 7.2 million residents. Between 2010 and 2015, The Dallas MSA had the 6th fastest economic growth among the nation’s 100 largest metros, according to the Brookings Institute. The Support. Dallas government is pro-development, maintaining a comprehensive plan and economic development strategy to encourage growth.

Credit: Tim Hursley Winspear Opera House Downtown Dallas

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 3 U.S. AND GLOBAL CONTEXT

Population of Similarly-Sized Global Metropolitan Areas:

Rotterdam-Amsterdam (7,082,700)

Dallas-Fort Worth (6,954,003)

Madrid (6,677,300)

Toronto (6,036,800)

Singapore (5,472,700)

Source: Brookings analysis of data from Oxford Economics, Moody’s Analytics, and U.S. Census Bureau.

Comparative Gross Domestic Product (GDP) of Global Metropolitan Areas ($Millions*)

Source: "Global Metro Monitor 2014: An Uncertain Recovery" (Washington: Brookings Institution, 2014). *Stated in terms of purchasing power parity. City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 4 DALLAS IS NORTH AMERICA’S CITY CENTER

Centrally located within North America. Centrally located within Dallas-Fort Worth.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 5 DALLAS AND THE TEXAS ECONOMY

The Texas economy is strong and diverse. Major industry sectors include:

Transportation

Aerospace and defense

Financial services

High-tech electronics

Energy

Retail and wholesale trade Benefits of Texas as a place to do business:

No personal income tax

Affordable land

Large labor force of 13.3 million and population of 27.9 million

50 Fortune 500 company headquarters (second in the U.S.)

Low unemployment rate (annual 2016 rate was 4.6%, 0.3 percentage points lower than the U.S. rate)

2nd highest real gross state product in the nation ($1.63 trillion in 2015) Dallas-Fort Worth is the largest metro area in Texas and is economically strong:

Has 26.0% of the total state population

Produces nearly 30% of Texas’ total economic output

Has 31% of Texas’ high-tech workforce (Dallas Regional Chamber)

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 6 DALLAS-FORT WORTH METRO AREA COMPARISONS

Dallas-Fort Worth Metro Area Comparisons 2010-2016 Cost of Living Median 2015-2016 Median Unemployment Metro Area Population (2016 Avg: House Price Employment Household Rate Growth Rate U.S. Avg=100) (Q1 2017p) Growth Rate Income (2016 Annual Avg) Atlanta 9.2% 98.7 $182,800 3.9% $60,219 5.8% Chicago 0.4% 118.5 $228,600 0.9% $63,153 6.5% Dallas 12.1% 100.4 $236,500 3.4% $61,644 3.8% Houston 13.9% 98.8 $222,300 0.5% $61,465 5.0% Los Angeles 3.6% 142.3 $485,800 2.1% $62,544 5.6% New York 2.8% 228.2 $386,000 0.7% $68,743 5.2% Phoenix 10.9% 97.0 $237,900 3.5% $55,547 4.0% Source: US Census Bureau, 2016; Cumulative Estimates of Resident Population Change and Rankings: April 1, 2010 to July 1, 2016, Texas Workforce Commission, 2016, C2ER, 2016 Cost of Living, National Association of Realtors, 2016; Bureau of Labor Statistics - Payroll Employment, 2016, U.S. Bureau of Labor Statistics, values not seasonally adjusted.

Ten Most Populous U.S. Metro Areas (Millions) in 2016

Metro Area Population New York 20.15 Los Angeles 13.31 Chicago 9.51 Dallas-Fort Worth 7.23 Houston 6.77 Washington, DC 6.13 Philadelphia 6.07 Miami 6.07 Atlanta 5.79 Boston 4.79 Source: US Census American Community Survey 1-Year Estimates, 2015. Credit: Urban Fabric Photography

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 7 CITY OF DALLAS & DALLAS-FORT WORTH OVERVIEW

DFW Economic Overview DFW Demographic Overview  6th largest economy by output (2015) Profile City of Dallas DFW  5th largest economy by personal income (2014) Residents 1,317,929 7,233,323  $485.7 billion Gross Metro Product (2015) Median Age 32.6 34.7  1.64 billion sq. ft. of commercial space (May 2017) Bachelor's Degree or Higher 31.8% 33.4% Source: U.S. Census Annual Estimates of the Residential Population, 2016; U.S. Census Bureau  100.4% of U.S. average cost of living (2016) American Community Survey 1-Year Estimate, 2015.

 4th largest population in the U.S. (2016)

City of Dallas and DFW Employment by Industry Dallas-Fort Worth MSA Counties

Industry City of Dallas DFW

Trade, Transportation, and Utilities 19.3% 21.4% Professional and Business 17.0% 16.6% Health and Education 17.0% 12.3% Leisure and Hospitality 10.1% 7.6% Financial Activities 9.6% 8.0% Manufacturing 7.4% 7.6% Government 7.1% 12.1% Resources, Mining & Construction 5.0% 5.8% Other Services 4.9% 3.5% Information 2.5% 2.3% Source: Texas Workforce Commission, 2016; Bureau of Labor Statistics, 2016; Bureau of Economic Analysis, 2016; InfoUSA, 2016; Dallas Office of Economic Development, 2017; C2ER, 2017; CoStar.com, 2017.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 8 DALLAS CITY AND METRO DEMOGRAPHICS

Dallas-Fort Worth Demographics City of Dallas Share Share Metro Population 2015 Estimate 2015 Estimate Residents 1,300,082 7,102,165 Median Age 32.6 34.7

Race and Ethnicity 2015 Estimate % 2015 Estimate % Non-Hispanic White 379,630 29.2 3,388,560 47.7 Dallas Arboretum Non-Hispanic Black 304,850 23.4 1,076,803 15.2 Hispanic 549,966 42.3 2,018,562 28.4 Non-Hispanic Other Race 65,636 5.0 618,240 8.7

Foreign Born 326,825 24.3 1,294,009 17.9

English as Second Language 2015 Estimate % 2015 Estimate % Primary Language; Spanish 464,561 35.7 1,515,704 21.3 Credit: Kauwuane Burton Photography Primary Language; Other 59,842 4.6 529,778 7.5 Deep Vellum Books

Households and Income 2015 Estimate 2015 Estimate Total Households 495,362 2,479,995 Median Household Income $45,918 $61,644 Per Capita Income $30,569 $31,379 Source: Texas Workforce Commission; Bureau of Labor Statistics; Bureau of Economic Analysis; InfoUSA; Dallas Office of Economic Development; C2ER; CoStar.com

Carlo’s Bakery

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 9 CITY OF DALLAS OVERVIEW MAP

Disclaimer: This product is for informational purposes and may not have been prepared for or be suitable for legal, engineering, or surveying purposes. It does not represent an on- the-ground survey and represents only the approximate relative location of property boundaries. City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 10 THE LARGEST CITY IN THE TOP U.S. METROPOLITAN ECONOMY

The city of Dallas is the urban core and largest city in the nation’s fastest- growing metropolitan economy and fourth most populous metropolitan area with 7.23 million residents.

If the government of the city of Dallas were a corporation, it would be #785 on the Fortune 1000 list.

Dallas is the hub of business in North Texas. Thirty-eight percent of all businesses headquartered in DFW that employ more than 1,000 people globally are based in the city. Dallas has over 19,000 micro-businesses, and a quarter of all small businesses in DFW are located in Dallas.

Dallas is the center of the tourism and convention industry in Dallas-Fort Worth. Twenty-seven percent of all hotel rooms in DFW are located in the city of Dallas, more than twice as much as any other city. Dallas is a Top 10 convention destination in the U.S., according to Cvent.

Dallas has superior transportation options. With city-owned Dallas Love Field only six miles from Downtown, residents have a short and hassle-free trip to and from the airport. Since October 2014, there has been an 18% increase in flights and 60% increase in passenger traffic. Additionally, Dallas is the hub of the largest transit network in DFW, with 46 passenger rail stations and 19,000 miles of bus routes, including a direct rail link to DFW Airport.

Dallas is North Texas’ urban lifestyle center, and neighborhoods in Dallas are truly diverse. Residents can choose from funky Downtown lofts, sophisticated high rises with concierge services, stately historic mansions, charming bungalows, ranch homes that are perfect for families, modern style, eco-friendly homes, and even homes with lots of over an acre. Dallas has many options for mixed-use living where restaurants, retail stores and good transportation options are just steps away from your front door. High -quality apartments are also plentiful, with many near nightlife, light rail, major employment centers, and transportation corridors.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 11 ECONOMIC MILESTONES

1841 - Founded as trading post on a Republic of Texas military highway and Trinity River crossing

1873 - Secured North Texas’ first railroad crossing

1907 - Luxury retailer founded

1909 - First skyscraper in Dallas and the southwestern U.S. opened

1913 - Awarded the eleventh Federal Reserve district headquarters

1927 - World’s first convenience store opened, now known as 7-Eleven

1928 - Purchased Love Field to become one of the first aviation-savvy cities

1957 - Dallas Market Center opened, eventually playing host to more than 75,000 buyers a year

1958-62 - Invented the integrated circuit (Texas Instruments) and data processing service (Electronic Data Systems), making Dallas a leading technology city

1971 - Southwest Airlines incorporated in Texas and commenced service

1971 - Margarita machine invented

1973 - Collaborated with Fort Worth to build DFW International Airport

1975 - Chili’s opened, pioneering the casual dining industry

1996 - Opened Dallas Area Rapid Transit rail system

2007 & 2008 - Comerica and AT&T relocated their headquarters to Dallas

2009 - Opened AT&T Performing Arts Center in the Arts District, the largest district in the nation

2012 - opened over Freeway, unifying Downtown and Uptown

2014 - End of flight restrictions from Love Field, and Phase 1 of the Love Field modernization project completed Credit: Urban Fabric Photography 2014 & 2015 - New $800M Clements University Hospital and $1.3B Parkland Hospital opened

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 12 MAJOR DALLAS INDUSTRIES

During 2016, the city of Dallas had notably higher employment concentrations than the DFW metro and nation in four industry categories: financial activities; education and health services; professional and business services; and the information sector. The Dallas-Fort Worth MSA had a higher concentration than the nation of construction, financial, trade and logistics jobs, as well as high-end business service and information employment.

Dallas-Fort Worth MSA Employment by Industry Industry Mix 2016 (Annual 2016)

Industry Jobs

Trade, Transportation, & Utilities 749,500 Professional & Business Services 580,800 Education and Health Services 430,900 Government 425,200 Leisure and Hospitality 366,000 Financial Activities 282,400 Manufacturing 264,900 Mining, Logging and Construction 204,900 Other Services 121,600 Information 82,300 Total 3,508,500 Source: Texas Workforce Commission, Bureau of Labor statistics. 2016.

Source: Texas Workforce Commission, Bureau of Labor statistics, City of Dallas estimates (Annual 2016).

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 13 FORTUNE 500 COMPANIES

Dallas is one of the world’s leading corporate headquarters centers. Fortune 500 Companies Headquartered It boasts: in the City of Dallas (2017)  22 Fortune 500 companies and 42 Fortune 1000 companies in DFW

 8 companies on the 2016 Forbes list of America’s Largest Private Companies (DFW)

 711 total headquarters operations that employ at least 1,000 globally (DFW) Dallas’ efficiency as a headquarters city is based on its:

 Quality transportation system with air operations to 148 U.S. and 55 international cities

 Large metro professional services workforce - 580,800 jobs (DFW MSA 2016 average)

 Affordable cost of business with a cost of living equal to the national average (2016)

 Central location and dynamic business culture

Source: Fortune, Forbes, Hoovers, City of Dallas Office of Economic Development, C2ER, and Tex- as Workforce Commission. Other DFW Fortune 500 companies:

 Exxon Mobil  GameStop

 American Airlines Group  Alliance Data Systems

 Fluor Corp.  Yum China Holdings

 Kimberly-Clark  Dr Pepper Snapple Group

 J.C. Penney  Celanese

 D.R. Horton, Inc.  Michaels Cos.

 Vistra Energy City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 14 DALLAS-HEADQUARTERED COMPANIES

The city of Dallas is home to: Largest Publicly-Traded Companies Headquartered in Dallas  221 publicly-traded companies

 3,489 company headquarters

 242 Class A office buildings

 Over 6,500 industrial/flex buildings

Source: Hoovers and CoStar.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 15 DFW TOP PRIVATE EMPLOYERS

Local Zip Company* Description Main Local Address Employment Code Wal-Mart Stores Inc. Retailer 34,000 American Airlines Group Inc. Airline 27,000 4333 Amon Carter Blvd., Fort Worth 76155 Texas Health Resources Hospital and health care 22,296 612 E Lamar Blvd., Arlington 76011 Baylor Scott & White Health Hospital and health care 16,500 4005 Crutcher St., Dallas 75246 Lockheed Martin Aeronautics Aviation and aerospace 13,750 1 Lockheed Blvd. MZ 1224, Fort Worth 76108 Bank of America Financial services 13,500 901 Main St., Dallas 75202 Texas Instruments Semiconductors 13,000 12500 TI Blvd., Dallas 75243 JPMorgan Chase Bank, N.A. Banking 12,676 2200 Ross Ave., Dallas 75201 HCA North Texas Division Hospital and health care 11,722 6565 N. McArthur Blvd., Ste. 350, Irving 75039 Southwest Airlines Airline 9,931 2702 Love Field Dr., Dallas 75235 Raytheon Aviation and aerospace 8,700 2501 W. University Dr., McKinney 75071 Target Retailer 8,253 Methodist Health System Hospital and health care 6,630 1441 N. Beckley Ave., Dallas 75203 Cook Children's Health Care System Hospital and health care 6,026 801 7th Ave., Fort Worth 76104 Fidelity Investments Financial services 6,000 1 Destiny Way, Westlake 76262 Alcon Laboratories Inc. Biotechnology, Medical Devices, Pharmaceuticals 5,714 6201 S. Fwy., Fort Worth 76134 Kroger Cos. Retailer 5,331 1331 E. Airport Fwy, Irving 75062 Wells Fargo Financial services 5,292 201 Main St., Fort Worth 76102 Children's Health System of Texas Hospital and health care 5,200 1935 Medical Center Dr., Dallas 75235 Citi Financial services 4,900 6400 Blvd., Irving 75039 Walgreens Retailer 4,521 8112 Ridgepoint Dr., Irving 75063 Source: Dallas Business Journal Book of Lists, December 23, 2016. *AT&T,Neiman Frito Marcus Lay, JPS andGroup, Verizon Inc. are believed to be Retaileramong the largest employers in DFW, but did not submit information.4,411 1618 Main St., Dallas 75201 Source: Dallas Business Journal Book of Lists, December 23, 2016. *AT&T, Frito Lay, JPS and Verizon are believed to be among the largest employers in DFW, but did not submit information.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 16 TOP RECENT EXPANSIONS & RELOCATIONS IN DALLAS (1/4)

Total Dallas Company Year* Product/Service Address Employment Taxco Produce 2017 Food distribution (HQ) 4202 Dan Morton Dr. Lone Wolf Real Estate Technologies 2017 Software development 717 N. Harwood St. 150 WeWork 2017 Co-working space & regional office 1601 Elm St. Discount Tire 2017 Distribution Center Bonnie View Rd. Zinwave 2017 Information Technology (HQ) 2525 McKinnon Ave. Amazon 2017 Internet retailer, regional office 13155 Noel Rd. Akin Gump 2017 Legal Services (HQ) Field St. at Cedar Springs Rd. 270 Cushman & Wakefield 2017 Real Estate Services 2021 McKinney Ave. 200 Goldman Sachs 2017 Financial Services 2001 Ross Ave. 1,000 Brinker International 2017 Restaurant operator (HQ) Olympus Blvd. 500 Quorum Business Solutions 2017 Information services (HQ) 717 N. Harwood St. Hawkeye 2017 Advertising (HQ) 2828 Routh St. 300 CyrusOne 2017 Data Centers (HQ) 2101 Cedar Springs Rd. HOK 2016 Architecture 717 N. Harwood St. The Perot Group 2016 Financial Services (HQ) Turtle Creek Blvd. 250 Blue Cross Blue Shield of Texas 2016 Insurance 603 Munger Ave. 90 Options Clearing Corp. 2016 Financial Services 9111 Cypress Waters Blvd. Jacobs Engineering Group 2016 Engineering services (HQ) 1999 Bryan St. 450 Chewy 2016 Distribution Center 7243 Grady Niblo Rd. 700 Moore Supply Co. 2016 Plumbing Distribution Mercer Business Park A.H. Corporation 2016 Media (HQ) 1954 Commerce St. 600 Corgan 2016 Architecture (HQ) 401 N. Houston St. Source: City of Dallas Office of Economic Development. *Year relocation or expansion made or announced.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 17 TOP RECENT EXPANSIONS & RELOCATIONS IN DALLAS (2/4)

Total Dallas Company Year* Product/Service Address Employment AT&T 2016 Telecommunications (HQ) 208 S. Akard St. 11,500 Hearts & Science 2016 Advertising 1999 Bryan St. 100 Southwest Airlines 2016 Passenger airline (HQ) 2702 Love Field Dr. 1,400 Zale Corporation 2016 Jewelry Retailer (HQ) Cypress Waters Blvd. 1,100 Revel Systems 2016 Software development 3500 Maple Ave. 60 TGI Friday's 2016 Restaurant operator (HQ) 19111 N. Dallas Pkwy. 200 Team One 2016 Advertising 2021 McKinney Ave. Saatchi & Saatchi 2016 Advertising 2021 McKinney Ave. Ernst & Young 2016 Business services 1201 Elm St. C.A.T. Global 2016 Logistics 1701 N. Market St. 40 Cotton Holdings 2016 Construction 8500 John Carpenter Fwy American Textile 2016 Textile manufacturing 32777 LBJ Freeway Spirit Realty Capital 2016 Financial services (HQ) 2727 N. Harwood St. 75 Sunoco 2015 Oil and gas (HQ) 8020 Park Ln. 400 Hall Financial Group 2015 Financial services (HQ) 2323 Ross Ave. KPMG 2015 Business services 2323 Ross Ave. Wingstop 2015 Restaurant operator (HQ) 5501 LBJ Freeway Pioneer Foods (CH Guenther) 2015 Food manufacturing 4616 Langdon Rd. Southwest Moulding 2015 Building materials manufacturing 9100 Old Hickory Trail 110 Match 2015 Internet sales (HQ) 8750 N. Central Expy. 350 Frito-Lay 2015 Food manufacturing 3548 Duncanville Rd. 230 OneSource Virtual 2015 Business services (HQ) 9001 Cypress Waters Blvd. 1,300 Source: City of Dallas Office of Economic Development. *Year relocation or expansion made or announced.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 18 TOP RECENT EXPANSIONS & RELOCATIONS IN DALLAS (3/4)

Total Dallas Company Year* Product/Service Address Employment JQ 2015 Engineering (HQ) 100 Glass St. 75 Toyota Industries Commercial Finance 2015 Financial services (HQ) 8951 Cypress Waters Blvd. 150 BT Global Services 2015 Information services 8951 Cypress Waters Blvd. Amazon 2015 Distribution center 33333 LBJ Fwy. 400 City Electric Supply 2015 Wholesale Electric (HQ) 400 S. Record St. 200 Comparex USA 2015 Cloud services (HQ) 600 N. Pearl St. CoreLogic 2015 Real estate research 3001 Hackberry Rd. 1,800 Energy Transfer Partners / Sunoco 2015 Energy transportation & retail (HQ) 8111 Westchester Dr. 30 EnLink Midstream Partners 2015 Oil and gas (HQ) 1722 Routh St. 285 Mission Foods 2015 Food manufacturing 1415 N. Cockrell Hill Rd. Neiman Marcus 2015 Department store 1700 Pacific Ave. The Richards Group 2015 Advertising (HQ) 3504 N. Central Expy. 650 Serta Dormae 2015 Mattress manufacturing 9200 Old Hickory Trail 100 2015 Medical facilities (HQ) 1445 Ross Ave. 700 Topgolf 2015 Recreation (HQ) 8750 N. Central Expy. 75+ Ulta 2015 Distribution center 4800 Mountain Creek Pkwy. 450 Active Networks / Lanyon 2014 Computers / data processing (HQ) 717 N. Harwood St. 1,200 Amazon 2014 Internet retailer, regional office 13455 Noel Rd. 1,000 Commemorative Air Force 2014 Museum / nonprofit (HQ) 90 Dealertrack Technologies 2014 On-demand software 13737 Noel Rd. NFI Industries 2014 Logistics services 4040 Pipestone Rd. Omnitracs 2014 Transportation management (HQ) 717 N. Harwood St. 450 Source: City of Dallas Office of Economic Development. *Year relocation or expansion made or announced.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 19 TOP RECENT EXPANSIONS & RELOCATIONS IN DALLAS (4/4)

Total Dallas Company Year* Product/Service Address Employment Santander Consumer USA 2014 Auto lending (HQ) 1601 Elm St. 1,400 Southwest Airlines 2014 Passenger airline (HQ) 2702 Love Field Dr. 4,000 The Trunk Club 2014 Fashion sales 333 1st Ave. Tower Legal Services 2014 Legal services 901 Main St. 150 US Cold Storage 2014 Refrigerated storage 2225 N. Cockrell Hill Rd. 25 White Wave Foods 2014 Food manufacturing 3333 Dan Morton Dr. 85 Fabricated metal product manufacturing Accudyne Industries 2013 2728 N. Harwood St. (HQ) AT&T 2013 Telecommunications (HQ) 208 S. Akard St. 5,600 Borden Dairy 2013 Food manufacturing 5327 S. Lamar St. 100 Breitling Energy Companies 2013 Oil and gas (HQ) 1910 Pacific Ave. Ciao Telecom 2013 Telecommunications (HQ) 8390 LBJ Fwy. 65 Conn's Appliance 2013 Distribution center 4800 Langdon Rd. General Datatech 2013 Electronic components wholesalers 999 Metromedia Place HKS 2013 Architecture 350 N. St. Paul St. 500+ Hotels.com 2013 Internet sales (HQ) 5400 LBJ Fwy. Kohl’s Department Stores 2013 Customer service operation center 17657 Waterview Pkwy. 1,000 Lockton Companies 2013 Insurance 2100 Ross Ave. 105 L'Oreal USA 2013 Cosmetics 2900 Cedardale Rd. 95 Mr. Cooper (Nationstar Mortgage) 2013 Mortgage servicing and origination (HQ) 8950 Cypress Waters Blvd. 1,300 Owens Corning Insulating Systems 2013 Manufacturing 3737 Duncanville Rd. Ozburn-Hessey Logistics 2013 Logistics 3700 Pinnacle Point Dr.

Source: City of Dallas Office of Economic Development. *Year relocation or expansion made or announced.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 20 SMALL BUSINESS ESTIMATES

Almost 90 percent of businesses, nearly 58,000, in Dallas are classified as small. Small businesses account for a significant number of jobs and play a key role in growing real and business personal property tax revenue. Small business is fundamental to workforce development, especially in minority, immigrant, and undereducated population communities. Small businesses generally are defined as having fewer than 500 employees. The U.S. Small Business Administration definition is industry-dependent, based upon an annual average number of employees size standard or a three-year averaged sales volume. These industry-specific definitions are applied to the City’s businesses to calculate shares.

City of Dallas 2016 Small Business Share by Industry Estimate Small businesses tend to have a high failure rate, especially in the first years after startup. In certain industries, the failure rate is as high as 90 percent. Small business success depends upon sound management and administration, access to capital, access to talent, access to markets, and procurement opportunities. The City of Dallas provides an online networking service called the Dallas Business Resource and Information Network (Dallas B.R.A.I.N.). It is a partnership between the City of Dallas’ Office of Economic Development and the that conducts entrepreneurship literacy and local business development. With a network of 80+ resource partners, as well as physical and digital spaces available for use by the small business community, the B.R.A.I.N. acts as a hub to help entrepreneurs access a network of timely, in-depth resources and information. This information is accessible at any of Dallas’ 28 library branches.

Source: U.S. Small Business Administration 2016, InfoUSA 2016. City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 21 WOMEN- AND MINORITY-OWNED BUSINESS ESTIMATES

In 2016, women-owned businesses were most represented in the City of Dallas 2016 Minority-Owned Businesses by Industry education and health services, financial activities, and professional and business services industries.

City of Dallas 2016 Women-Owned Businesses by Industry

Source: InfoUSA 2016, Office of Economic Development.

In 2016, minority firm ownership was most prominent in the edu- cation and health services and the trade, transportation, and utili- Source: InfoUSA 2016, Office of Economic Development. ties industries, comprising over 47 percent of all minority-owned business.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 22 RESEARCH AND DEVELOPMENT

A large concentration of high-tech companies and academic institutions Dallas-Fort Worth Academic Institution R&D Expenditures (2015) make Dallas-Fort Worth a center for research and development in National R&D Expenditure Institution science and technology. Dallas-Fort Worth leads all metropolitan areas in Ranking (thousands) Texas in the total number of utility patents granted since 2000. UT Southwestern Medical Center in Dallas is recognized worldwide as a UT Southwestern Medical Center 50 $438,824 leader in medical research and receives more than $427 million annually The University of Texas at Dallas 144 $98,551 to fund approximately 5,800 research projects per year. Corporations The University of Texas at Arlington 159 $77,798 such as AT&T and Texas Instruments spend millions of dollars annually on research and development in technology fields. The University of North Texas 201 $46,335 UNT Health Science Center 205 $43,628 Source: National Science Foundation, Academic Institution Profiles, 2015. Utility Patents Granted in Texas by Metropolitan Area (2000 - 2015)

Kilby Labs at Texas Instruments, Dallas Texas. Courtesy of Texas Instruments. Dallas-Fort Worth Corporate R&D Activity R&D Spending Patents Granted Company (2010-2015) (2010-2015) Texas Instruments $10.60 B 12,449 AT&T $10.42 B 11,953 ExxonMobil $7.13 B 3,970 Source: U.S. Patent and Trademark Office, Patenting In Technology Classes, 2016. Source: Yahoo! Finance, 2017; U.S. Patent and Trademark Office, 2016.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 23 INTERNATIONAL TRADE

Dallas-Fort Worth is the largest exporting trade district in the not located on an international border or body of water. While total exports from the United States have decreased since 2014 by more than 10 percent, and decreased on average by more than 10 percent in the 10 largest U.S. trade districts, exports from the Dallas-Fort Worth Trade District have increased by 9 percent. In 2016, over 829,000 tons of cargo enplaned and deplaned at DFW Airport alone, a 12.7 percent increase from 2015.

Dallas-Fort Worth District International Trade 2016

Credit: DFW Airport

Total Dallas-Fort Worth Trade District International Trade 2016*

Trade Category Import Export Total

Top 10 Trading Partners 81.0% 66.0% 74.0% Total World Trade USD (Millions) $46,757 $22,534 $69,291 Source: Dallas-Fort Worth Trade District, USA Trade Online, 2016.

USD (Billion) *The Dallas-Fort Worth Trade District is defined by the U.S. Census Bureau. Ports in the DFW District include: Dallas/Fort Worth, TX; Amarillo, TX; Lubbock, TX; Oklahoma City, OK; Tulsa, OK; Source: Dallas-Fort Worth Trade District, USA Trade Online, 2016. Austin, TX; , TX; Midland International Airport; Fort Worth Alliance Airport, and Addison Airport. The Dallas-Fort Worth MSA accounts for 97 percent of the total value of goods traded.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 24 LOGISTICS INFRASTURUCTURE

Credit: Aperture Photography for LBJ Infrastructure Group LLC Distance from Major North American Cities

Destination Distance (mi) Air Travel (hr) Road Travel (hr)

Atlanta 781 2.0 11.8 Chicago 986 2.3 15.0 Denver 882 2.0 13.0 Detroit 1,216 2.5 18.0 Kansas City 554 1.5 8.0 Los Angeles 1,435 3.5 21.0 Memphis 452 1.5 6.8 Dallas is centrally located in North America and connected to the continent and the world by highway, rail, and air. Within 48 hours from Dallas, over 98 Mexico City, DF 940 2.5 18.0 percent of the U.S. population can be reached by truck. By plane, all major Monterrey, NL 540 2.0 8.5 U.S. business centers can be reached in 3.5 hours or less. Montreal, QC 1,785 3.5 27.0 DFW Airport provides non-stop access to 166 U.S. and 53 international cities New York 1,548 3.5 24.0 and is a hub for American Airlines. In 2016 DFW Airport served over 65 million passengers and more than 829,000 tons of cargo. It’s the U.S.’s fourth Seattle 2,200 4.5 32.0 busiest airport and 11th busiest in the world. Toronto 1,454 3.0 22.0 Dallas Love Field offers more than 200 daily nonstop flights, on three Vancouver 2,335 4.5 34.0 runways, serving 15 million passengers annually. It is home to the corporate Washington, DC 1,329 2.8 20.0 headquarters of Southwest Airlines. In October 2014, a new 20-gate terminal Source: Google Map, 2016. opened as flight restrictions were lifted to allow more nonstop destinations. Dallas is a major interstate hub, with five interstate highways (I-20, I-30, I-35, I-635, and I-45) within the city limits, two major loop roads and 19 federal and state highways. Three major rail lines pass through Dallas: Burlington Northern Santa Fe (BNSF), Kansas City Southern, and Union Pacific. Four rail intermodal facilities operate in the region.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 25 PUBLIC TRANSPORTATION

The Hub of DART, the DFW Region’s Only Dallas Supports Transit-Oriented Development Complete Transit Network (TOD) for the City:

The Dallas Area Rapid Transit (DART) system includes  Add sustainable density that can accommodate 64 light rail stations over 93 miles of track. There are expected growth; four light rail lines, the (TRE) to , and 19,000  Provide new retail, employment and entertainment miles of bus routes serving Dallas and 12 surrounding anchors for Dallas’ neighborhoods; cities across a 700-square-mile service area.  Improve mobility; and

The DART rail system has grown steadily over the years.  Improve energy efficiency. An extension to Dallas-Fort Worth International Airport opened in August 2014, and an extension to the The city’s TOD initiatives are being supported by: University of North Texas at Dallas campus opened in  Tax increment financing (TIF) programs, including August 2016. A second Downtown Dallas line is in the TOD TIF District, for the specific purpose of planning stages. The Denton County Transit Authority DART Rail Network & boosting development near rail stations; and (DCTA) operates a separate commuter rail line that Member Cities connects to downtown Denton from the DART Green  Infrastructure investment in multimodal Line in Carrollton. connections around stations. The 46 light rail and commuter rail stations in the city of Dallas are Dallas’ growing network of streetcars is adding transit corridors for attracting dense, mixed-use developments, such as Mockingbird Station, local service. The McKinney Avenue Trolley connects the Cityplace / Cityplace / West Village, Town Center, Lancaster Urban Uptown DART Station to the Dallas Arts District via Klyde Warren Park. Village, and The Shops at Park Lane. The first line of the modern network connects Downtown’s Union Station to the vibrant Bishop Arts District in North .

Credit: DFW Airport Pearl / Arts District DART Station The Shops at Park Lane McKinney Avenue Trolley DFW Airport DART Station

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 26 WATER SUPPLY

Dallas Water Utilities provided over 135 billion gallons of treated water in 2016 for Dallas and 27 surrounding cities. The system has the capacity to supply 900 million gallons of treated water daily and maintains a water supply plan to accommodate the next 50 years of growth for the city. Even as population grows, water use is declining more than projected. Daily water use has decreased by 28.3 percent since 2001 when stricter conservation measures were adopted, such as leak detection, maintenance and repair, and conservation and reuse.

Per Capita Water Use With and Without Conservation Programs Water Conservation Incentive Commercial, Industrial, Business and Institutional

Customers – Free Assessment and Rebate for Upgrades Businesses may apply for a free assessment of water efficiency to review all end uses of water in business operations, identifying opportunities to increase efficiency. The City of Dallas Water Conservation Program offers up to $100,000 in site-specific rebates for the cost of new equipment and processes that conserve water at existing facilities. www.savedallaswater.com/water-efficiency-rebates

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 27 TAXES

Local Property Tax Per $100 of Appraised Texas does not have Dallas Sales Tax* Value for Real & Business Personal Property,  State Personal Income Tax Sales Tax* Rate 2017-2018*  Local Personal Income Tax State 6.25% Dallas City Rate $0.780400  State Property Tax Local 2.00% County Rates:  Local Occupation Tax Total 8.25% Dallas County Combined $0.656738 *Exemptions, such as manufacturing, may apply.  Local Wage Tax Collin County Combined $0.272056 Denton County Combined $0.237812 Franchise/Margin Tax

School District Rates:  Applicable to any legal entity doing business in Texas and that is organized Carrollton-Farmers Branch ISD $1.381000 to have some form of limited liability protection (i.e. corporations, partnerships and business associations). Coppell ISD $1.477700  Does not apply to most sole or general proprietorships; partnerships that Dallas ISD $1.282085 have only individuals as partners; certain passive entities; certain grantor trusts, estates of natural persons and escrows; real estate mortgage Duncanville ISD $1.521480 investment conduits and certain real estate investment trusts; and Garland ISD $1.460000 unincorporated political committees.

Highland Park ISD $1.203200  The tax is based on an entity’s margin, which is the lower of either: total revenue minus the cost of good sold; total revenue minus compensation; Mesquite ISD $1.460000 total revenue times 70 percent; or total revenue minus $1 million.

Plano ISD $1.439000  Qualified wholesalers and retailers pay 0.375%; most entities pay 0.75%. Entities with $20 million or less in total revenue pay 0.331%. Richardson ISD $1.390050 *Total property tax rate is based on the tax rates of the  Contact the Texas Comptroller’s Office for complete rules and regulations. jurisdictions in which a property is located. Homeowner and other http://comptroller.texas.gov/taxinfo/franchise/ exemptions may apply.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 28 UTILITY PRICING

Electricity Water Cost Sewer Cost Dallas Water Utilities - Per 1,000 Per 1,000 Residential1 Most of Texas, including Dallas, is in a deregulated area for electricity choice. Gallons Gallons Business customers may choose from multiple electricity providers and Up to 4,000 Gallons $1.90 $5.31 negotiate best rates based on their individual needs. For more information about Texas electricity providers, visit www.powertochoose.com. 4,001 to 10,000 Gallons $4.25 $5.31 10,001 to 15,000 Gallons $6.03 $5.31 The residential average per kwh in Texas is 11.27 cents, the commercial average is 8.42 cents, and the industrial average is 5.43 cents as of April Above 15,001 Gallons $8.55 $5.31 2017, according to the United States Energy Information Administration.

Water Cost Sewer Cost Dallas Water Utilities - Customer Commodity Charge/ Per 1,000 Per 1,000 Natural Gas2 General Services1 Charge/Mo. CcF or MMBtu Gallons Gallons Up to 10,000 Gallons $3.65 $4.08 Residential $21.25 $0.12862 Above 10,001 Gallons $3.91 $4.08 Commercial (<3,000 avg. McF/Yr) $44.00 $0.08214 Above 10,001 Gallons and Industrial $809.25 $0.0257 to $0.2232 $5.94 $4.08 1.4 Times Annual Average 2Excludes additional charges such as gas cost recovery, weather normalization, taxes, and fees. Rate is current as of July 1, 2017 and is subject to change. Source: http://www.atmosenergy.com/about/tariffs.html?st=mtx#tariffs

Water Cost Sewer Cost Dallas Water Utilities - 2017 Per 1,000 Per 1,000 Telephone3 Optional General Services1 Rate Gallons Gallons 1st Million Gallons or Less Unlimited local & long distance (includes caller ID & $2,192.92 $3.65 Starts at $75 (Minimum) 1 line with 5 more optional - 12 month term) Above 1 Million Gallons Small office with T-1-type facility (about 92 voice $3.03 $3.65 $1,200 to $1,800 (Per 1,000 Gallons) lines with limited data) - 36-month term Sewer Metered Separately $3.73 Higher bandwidth with 100 voice lines and more data $1,800 to $3,000

1Prices reflect property-pay discount and are effective October 1, 2016. 3Estimates. Source: AT&T. Please go to ATT.com for further assistance. Other providers’ prices may vary.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 29 OFFICE RENTAL RATES

Class A Rent Class B Rent Class C Rent Office Submarket Per Sq. Ft. Per Sq. Ft. Per Sq. Ft. Central Expressway $28.19 $24.48 $24.63 Dallas CBD $26.29 $22.30 $18.74 DFW Freeport / Coppell $25.40 $21.43 $18.89 East LBJ Freeway $26.06 $18.75 $18.15 Preston Center $37.85 $30.36 $27.86 Quorum / Bent Tree $27.40 $19.77 $16.67 Richardson $27.16 $19.75 $15.15 Southeast Dallas N/A $16.46 $16.58 Southwest Dallas $21.34 $16.28 $16.90 Stemmons Freeway $16.09 $15.99 $13.26 Uptown / Turtle Creek $39.63 $32.12 $29.35 West LBJ Freeway $19.23 $17.96 $18.13 White Rock $43.56 $18.56 $17.63 Source: CoStar Property Analytics, Q1 2017.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 30 INDUSTRIAL RENTAL RATES

Rent Per Industrial Submarket Sq. Ft. Central $4.75 East Brookhollow $10.17 East Dallas / Mesquite $4.15 East Hines North $5.84 Eastern Lonestar / Turnpike $4.02 Northeast Dallas / Garland $4.15 North Trinity $10.34 Redbird Airport $3.89 Richardson $8.94 Southeast Dallas / I-45 $12.10 Southwest Dallas / US-67 $3.97 West Brookhollow $4.75 West Hines North $5.89 Western Lonestar / Turnpike $5.81 Source: CoStar Property Analytics, Q1 2017.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 31 CAREER OPPORTUNITIES

Dallas’ diverse business environment offers almost any career the Dallas City Payroll opportunity to grow. Over 65,000 businesses call the city of Dallas home, including global leaders such as Texas Instruments, AT&T, Comerica and Industry Share Southwest Airlines. Dallas’ nearly 58,000 small businesses offer numerous Trade, Transportation, and Utilities 19.3% employment opportunities. Education and Health Services 17.0% 22 Fortune 500 companies are based in the Dallas area. Professional and Business Services 17.0%

Dallas’ job growth rate has exceeded the nation since 2003 and is Leisure and Hospitality 10.1% forecasted to grow faster than the nation through 2024. Financial Activities 9.6% Manufacturing 7.4% Dallas’ unemployment rate has been below the nation’s for over nine years. Government 7.1% Mining, Logistics, and Construction 5.0% DFW has 208,293 technology jobs, or one third of all technology jobs in Texas. With the seventh largest concentration of jobs in the U.S., it is the Other Services 4.9% state’s deepest technology labor pool (Dallas Regional Chamber). Information 2.5% Source: Analysis of InfoUSA data by Office of Economic Development, City of Dallas Projected Percentage Job Growth and Job Levels 2016. Selected High Tech Occupations 2014-2024 Dallas Workforce Development Area Percentage Change in Employment for 11 Largest Metro Areas 2015 to 2016

Source: Texas Workforce Commission. Source: U.S. Bureau of Labor Statistics, Payroll Employment. City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 32 WORKFORCE

Local Area Unemployment (Annual 2016) Dallas-Fort Worth Labor Market by Occupation (Annual 2016)

Category City of Dallas DFW Occupation Workers Annual Wages

Total Labor Force 660,881 3,684,673 All 3,410,610 $50,350 Total Employed 634,786 3,542,855 Architecture and Engineering 66,230 $89,860 Unemployment Rate 3.9% 3.8% Arts, Design, Entertainment, Sports, and Media 41,040 $55,240 Source: Texas Workforce Commission, Labor Market & Career Information Department. Building and Grounds Cleaning and Maintenance 91,690 $25,520 Business and Financial Operations 187,760 $79,010 Dallas-Fort Worth Educational Attainment Community and Social Service 27,000 $52,340 (Highest Level Achieved, Population 25 years Computer and Mathematical 139,740 $90,100 and older, 2015) Construction and Extraction 138,440 $40,950

Level Number Percent Education, Training, and Library 186,480 $51,480 Farming, Fishing, and Forestry 2,850 $23,300 With Graduate or Professional Degree 514,434 11.3% Food Preparation and Serving Related 316,080 $23,690 With Bachelor's Degree 1,007,601 22.1% Healthcare Practitioners and Technical 179,070 $78,650 With Some College or an Associates Degree 1,297,384 27.5% Healthcare Support 82,600 $31,370 With High School Diploma 1,027,239 22.6% Source: U.S. Census Bureau - 2015 American Community Survey 1-Year Estimates. Installation, Maintenance, and Repair 141,690 $45,610 Legal 24,750 $114,660 Training and Hiring Assistance: Life, Physical, and Social Science 14,990 $70,160 Management 141,000 $129,390 The Texas Workforce 21.6% Commission can facilitate increase Office and Administrative Support 625,950 $38,330 customized training through in jobs Personal Care and Service 92,340 $24,170 state-funded skills grants. forecast Production 192,870 $35,380 Texas workforce development for 2024 Protective Service 75,360 $43,250 boards offer monetary Source: Texas Labor Market assistance to businesses that Information for Dallas WDA. Sales and Related 374,290 $46,360 hire unemployed Texans. Transportation and Material Moving 268,370 $39,290 Source: U.S. Bureau of Labor Statistics, May 2016. City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 33 FOR EMPLOYERS Unions Texas is a right to work state:

 Mandatory union membership is prohibited.

 No person can be denied employment or otherwise discriminated against in employment decisions based on the status of his or her membership in a union.

2017 Union Members % of Workforce Covered Workers % of Workforce

DFW Total Workforce Organized 152,064 4.3% 199,921 5.7% DFW Private Workforce Organized 80,867 2.6% 113,816 3.7% DFW Public Workforce Organized 71,197 16.4% 86,105 19.8% State of Texas Total Workforce Organized 461,663 4.0% 605,612 5.3% Source: www.unionstats.com

Workers’ Compensation Unemployment Insurance

 In most cases, workers’ compensation is voluntary. 2017 taxable base is up to $9,000 per employee per year.

 Rates that companies pay for coverage vary based on the Unemployment 2017 Rate company and that company’s past history. Existing Employers (after 6 quarters of existence) 0.59% to 8.21% Source: Texas Department of Insurance, Workers’ Compensation Division. http://www.tdi.texas.gov/wc/employee/maxminbens.html New Employers (for first 6 quarters) 2.7% Maximum Weekly Benefit $493 Source: Texas Workforce Commission.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 34 WORKFORCE TRAINING

A skilled and talented workforce is critical for the development and sustainability of growing industries and a vibrant and diversified Dallas economy. Various resources are available, at no cost, to address your business’ workforce development needs.

The Texas Workforce Commission Workforce Solutions Greater Dallas The Texas Workforce Commission (TWC) is a state agency that Workforce Solutions Greater Dallas (WFS Dallas) provides human provides workforce development services to employers and job resource solutions for employers seeking a talented workforce and for seekers. TWC provides grants for customized training: jobseekers seeking competitive employment opportunities in Dallas County. WFS Dallas services include: The Skills Development Fund is Texas' premier job-training program. Applicant screening and recruiting, including specialized recruiting The program assists businesses and trade unions by financing the services; design and implementation of customized job-training projects. This fund successfully merges business needs and local customized training Hiring events for individual employers and groups of employers; opportunities into a winning formula to increase the skills levels and Assessment services; wages of the Texas workforce. Customized training for new and current employees; The Skills for Small Businesses program supports companies with Outplacement services during downsizing; fewer than 100 employees, emphasizing training for new workers though it also may help upgrade the skills of incumbent workers. In Information regarding labor market, applicant pool, and hiring climate. partnership with a public training provider, the program pays up to For more information visit: http://employer.wfsdallas.com/employers or $1,800 for each new employee or $900 for existing employees using call (214) 302-5555. existing curriculum. Dallas County Community College District All TWC programs require employers to pay no less than the prevailing wages in their local market for the trained occupation. Program Dallas County Community College District (DCCCD) is one of the largest parameters are subject to change at any time. For more information on undergraduate institutions in the state of Texas with seven colleges training programs and services visit http://www.twc.state.tx.us/ offering customized training to meet employers’ needs for training, re- businesses/train-your-workforce or call (877) 463-1777. training, industry-specific certifications. Needs assessment / skills training / professional development can be offered at the job site with flexible Federal support is also available through the Work Opportunity Tax scheduling for employees and assistance in client-targeted job placement. Credit. Visit http://www.doleta.gov/wotc for more information. Visit http://www.dcccd.edu/workforcepartners for more program information.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 35 2016 YEAR IN REVIEW & AWARDS (1/2)

2016 Year in Review Award Winning Economic Development

 Private investment committed via the Public / Private Partnership  2016 Dallas Business Journal Award for Most Creative Financing: Aloft / Program: $244,883,000 Element Hotel at Dallas Love Field

 New developments and projects supported by the Public / Private  2016 Dallas Business Journal Award for Reuse or Rehabilitation: Partnership Program: 14 The Drever

 New jobs anticipated to be created or retained by the Public /  2016 D CEO Trendsetter Award: Private Partnership Program: 2,430  2016 D CEO Award for Best Multifamily Project: Alexan Riveredge  Total private investment committed in Tax-Increment Financing (TIF) Districts: $468,206,604  2016 Council of Development Finance Agencies (CDFA) National Development Finance Summit Showcase Project: Lancaster Urban  Total public funds committed to projects in TIF Districts: Village $56,990,934

2016 Major Projects Several major corporations chose Dallas as their new home in 2016. Zale Corporation, a subsidiary of Signet Jewelers, announced the relocation of its corporate headquarters and repair center to the Cypress Waters development. The $39 million Zale office and its 1,100 employees will anchor The Sound, a mixed-use district within Cypress Waters fronting North Lake. Cypress Waters is a $1.5 billion master-planned mixed-use development with 814 residential units and 1.07 million sq. ft. of office space completed and another 539 residential units and 964,000 sq. ft. of office under construction. Zale joins Mr. Cooper (formerly Nationstar Mortgage), Meritage Homes, CoreLogic, OneSource Virtual, and Toyota Industries Commercial Finance as major corporate tenants. Jacobs Engineering, a Fortune 500 global construction and engineering firm, relocated its corporate headquarters from out-of-state to Downtown Dallas. The corporate headquarters joins the regional office at . ProLogis finished construction on a 670,000 sq. ft. online fulfillment center at Mountain Creek Business Park for Ulta, a retailer of cosmetics and other personal care products, adding at least 450 jobs and $18 million in investment. Chewy.com opened its largest distribution center near Ulta. The 663,000 sq. ft. facility will employ 700 people. Several new facilities opened at the International Inland Port of Dallas. Amazon & American Textile opened facilities at the - developed JJ Lemmon Distribution Center. Pioneer Frozen Foods opened a manufacturing facility on Langdon Rd. ThermoFisher Scientific and FedEx Supply Chain leased space at the Hillwood-developed Commerce 20 project. Dermody Properties, VanTrust, and Trammell Crow all began or completed construction on 1 million sq. ft. spec-industrial buildings.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 36 2016 YEAR IN REVIEW & AWARDS (2/2)

Downtown Dallas momentum continued with City Council approval for public-private partnerships on the rehabilitation of several Downtown buildings, including The Drever / Thompson Hotel (348 units, 236 hotel rooms, 44,000 sq. ft. office & 29,000 sq. ft. retail). Downtown continues to add a growing mix of new residential units, hotel rooms and retail space. Construction was completed on several projects, including The Butler Brothers Building (236 units), Mayflower Building (215 units and 13,700 sq. ft. retail), Forty Five Ten (37,000 sq. ft. retail) and / Westin Hotel (326 rooms), while work neared completion on Factory Six03 (215,000 sq. ft. creative office), The Statler Hotel & Residences (219 units & 161 hotel rooms) and Mid-Elm Lofts (25 units & 17,700 sq. ft. retail). Uptown and Victory Park both added new apartment towers and office buildings, including the McKinney & Olive office building (480,000 sq. ft.) and the Camden Victory Park apartments (425 units) adjacent to the . The reinvention of the Valley View-Galleria district began in earnest, with the construction of the Modera Galleria (321 units) and AC Hotel / Residence Inn by Marriott (256 rooms) commencing and the $16M completed renovation of the Galleria office towers.

2016 New Programs The City of Dallas Office of Economic Development launched the Dallas PACE Program in partnership with the Texas PACE Authority. PACE, or Property Assessed Clean Energy, is a state-enabled program that allows owners of older commercial and multifamily buildings to finance upgrades to buildings and systems secured by a lien against the property.

Credit: Urban Fabric Photography Credit: Urban Fabric Photography Lancaster Urban Village Aloft / Element Hotel at Dallas Love Field Butler Brothers Building

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 37 DEVELOPMENT POLICY

City of Dallas Commits to Investing in Its Success forwardDallas! into the Future The $600 million 2012 bond program approved by Dallas voters follows The Dallas City Council adopted comprehensive plan forwardDallas! in the largest in Dallas history, approved in 2006. A proposed 2017 bond 2006. (http://dallascityhall.com/departments/pnv/strategic-planning/ program of $1 billion has been announced, with ten propositions Pages/comprehensive-plan.aspx.) It provides a vision of a former including a focus on streets and transportation. suburban Sunbelt boom town transformed into a thriving 21st century metropolis—a city that offers a balance of urban and suburban living and work opportunities. The vision calls for:

 Quality housing made more attainable;

 Strong and healthy neighborhoods;

 Enhanced transportation systems;

 Environmental sustainability;

 New development patterns; and

Strategic Engagement: Economic Development Plan  An enhanced economy through balanced land use and strategic The 2013 Strategic Engagement Economic Development Plan has three public investments. main objectives for preparing Dallas for the future:

 Grow the economy;

 Increase economic opportunities for residents; and

 Broaden and diversify the tax base. Achieving these will contribute to the fourth objective:

 Assist in the development of sustainable communities. For more information on Strategic Engagement, visit http://www.dallasecodev.org/488/Publications Credit: Urban Fabric Photography

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 38 BUSINESS DEVELOPMENT PROGRAMS

Public / Private Partnership Program The Public / Private Partnership Program (P/PP Program) assists for-profit companies and developers to offset project or operational costs through a number of economic development incentives. As each project is unique, proposals are considered on a case-by-case basis. Tools available include tax abatements, grants, loans, and infrastructure cost-sharing, among others. The P/PP Program is intended to provide city support for development projects that have financial gaps or for projects that otherwise represent a competitive situation for the city against non-Dallas locations. Companies or developers pursuing incentives under the P/PP Program must provide written assurance that “but for” the incentives, the proposed project would not occur, or would otherwise be substantially altered so that the economic returns or other associated public benefits secured by the city’s participation would be reduced. A project must be physically located within the city of Dallas to be eligible. Projects located in a Target Area are given special consideration. Target areas have high poverty and/or city-identified priorities, including the NeighborhoodPlus and NeighborUP programs.

Other Programs The City of Dallas (EB-5) Regional Center (CDRC) is dedicated to assisting individuals and their families through the EB-5 immigration process who are looking to invest in businesses and development projects located within the Dallas city limits. The CDRC offers a variety of qualified investments to foreign investors that meet or exceed program requirements and offers investors features unique to the EB-5 community. New Markets Tax Credits (NMTC) is a federal tax credit program used to attract private investment for business and real estate development in qualified low-income neighborhoods. Investors receive tax credits for qualified investments, which serve as a subsidy to the project. Where designated, Foreign Trade Zones (FTZ) allow duty-free importing of foreign-made components that are assembled, manufactured, processed, or packaged in an FTZ. Products for export are not taxed. DFW Airport’s “Alternative Site Framework” expedites approval of FTZ projects in the city of Dallas. Freeport Tax Exemptions provide ad valorem tax exemptions for goods that are detained in Texas for 175 days or less. The incentive value depends on location. Property Assessed Clean Energy (PACE) is an innovative financing program that allows owners of commercial, industrial, and multi-family residential properties (with five or more dwelling units) to obtain low-cost, long-term loans for water conservation, energy-efficiency improvements, and renewable retrofits.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 39 REDEVELOPMENT PROGRAMS

Opportunities for growth in Dallas range from green-field development to infill redevelopment. Dallas has several programs to facilitate redevelopment: Tax Increment Financing (TIF) districts allow the city to reinvest added tax revenue from new development back into the area where it originated, which further stimulates new private development and increases real estate values. Dallas has eighteen (18) active TIF districts. Public Improvement Districts (PIDs) allow for improvements above and beyond basic city services in neighborhoods that choose to impose a special assessment on themselves. PIDs may provide marketing, security, landscaping, lighting, street cleaning, cultural and recreational improvements, and event planning. Municipal Management Districts (MMD) are state-designated and allow for bond funding and assessments for activities similar to PIDs. Property Assessed Clean Energy (PACE), administered by the Texas PACE Authority for the City of Dallas, assists property owners with obtaining low-cost, long-term loans for water conservation, energy-efficiency improvements, and renewable retrofits. Public / Private Partnership Program (P/PPP) assists for-profit companies and developers with project or operational costs through a number of economic development incentives. Projects located in a Target Area are given special consideration. The New Markets Tax Credit (NMTC) program provides investors a federal tax credit for investment in traditionally underserved neighborhoods that meet specific criteria. The federal EB-5 immigration process through the City of Dallas Regional Center (CDRC) assists individual investors and their families who are looking to invest in businesses and development projects located within the Dallas city limits.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 40 MAJOR INFRASTRUCTURE INVESTMENTS

TxDOT and Cintra US completed the LBJ Express public-private partnership project, a reconstruction of I-635 and I-35E in Dallas and Farmers Branch spanning from I-635 / Greenville Ave. on the east to I- 35E / Loop 12 on the west. In addition to reconstruction of the existing freeway, up to six dynamically-priced managed toll lanes were added, along with new frontage roads and ramps. Construction began on the $2.7 billion design-build project in 2011 and was completed in late 2015. Credit: LBJ Infrastructure Group

Construction began in April 2013 on Project Horseshoe, the reconfiguration of two Downtown area freeways: I-35E and I-30. The TxDOT design-build project features several new bridges over the Trinity River, including the Santiago Calatrava-designed Margaret McDermott Bridge for I-30, adding separated bicycle lanes and pedestrian paths at one of the most heavily trafficked interchanges in Texas. The $798 million project is expected to be completed in late 2017.

A two-phase plan to remove the SM Wright Freeway from / began construction in summer 2016. The first phase of the $151 million TxDOT project connects the US-175 CF Hawn Freeway to I-45 near the Trinity River. The second phase will downgrade the existing US- 175 SM Wright Freeway to a boulevard, eliminating a dangerous curve in the roadway, calming traffic and removing a visual barrier through several single-family neighborhoods.

The Mill Creek Storm Drainage Tunnel will provide flooding relief and improved drainage for a large portion of East Dallas, including the State- Thomas, Deep Ellum, Exposition Park, Fair Park, and Frazier areas. A new five-mile, 30-foot diameter tunnel will be constructed roughly 100 feet underground with ancillary intake and outfall points. The project includes drainage and street improvements to tie into existing systems and to collect overland water flows during major rain events.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 41 CATALYST: DOWNTOWN DALLAS

The City Is the Amenity Major Retailers

Redevelopment is creating vibrant neighborhoods throughout the central business district  AT&T (CBD). The West End, Main Street Core, the Arts District, and the Farmers Market each has a distinct character.  CVS Pharmacy  Forty Five Ten  The Dallas Arts District includes four major museums, four world-class performance venues, a 10-acre park, and mixed-use development for a live-play-work lifestyle;  Koleksiyon

 Main Street Garden, a 1.75-acre park, opened in 2009;  Neiman Marcus

 The 1,001-room Omni Dallas Convention Center Hotel opened in 2011. A new phase  Taschen Library of four additional restaurants opened in summer 2015;  TenOverSix  Belo Garden, a 1.5-acre park, opened in April 2012;  Le Labo  Klyde Warren Park, a 5.2-acre park covering a major highway to connect Downtown to Uptown, opened in October 2012;  Traffic Los Angeles

 The free DART D-Link buses serve popular destinations around Downtown and in surrounding neighborhoods;

 The first segment of the city’s modern streetcar system connects Downtown Dallas and the Bishop Arts District in North Oak Cliff;

 The Dallas Farmers Market, privatized in 2014, is completely renovated including new vendors, restaurants, and residences; and

 The DART Orange Line to Dallas-Fort Worth International Airport opened in August 2014, and a second Downtown subway alignment is in the planning stages. Since 1996, with the creation of three Downtown Dallas tax increment financing (TIF) districts, the central business district has gained:

 8,459 new/renovated housing units (existing or under construction);

 2,734 hotel rooms (completed or under construction); and Credit: Urban Fabric Photography  $2.71 billion total investment (existing or planned) in three Downtown TIF districts. Dallas Farmers Market

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 42 STATISTICS: DOWNTOWN DALLAS

Category Downtown City of Dallas Corporate Headquarters  A. H. Belo Population 11,595 1,260,688 Households 6,164 477,249  AT&T

Family Households 1,361 274,501  Comerica Bank

Families With Related Children Under Age 18 311 136,573  EnLink Midstream Partners Per Capita Income $49,689 $28,693  Hunt Consolidated Average Household Size 1.57 2.60  Jacobs Engineering Average Family Size 2.31 3.48  Neiman Marcus Adults with Bachelor’s Degree or Higher 52.1% 30.2% Foreign Born 12.0% 24.3%  Oncor

Source: U.S. Census, 2011-15 American Community Survey 5-Year Estimates.  Tenet Healthcare Downtown Dallas Is Ideal for Every Business Recent Relocations to Downtown

 Executive offices: Downtown Dallas is home to more corporate and  Active Networks regional headquarters than any other North Texas location and stands alone with its high profile location, transportation access, diversity of  Blue Cross Blue Shield of Texas office opportunities, and live-work-play lifestyle;  Grant Thornton  Young professionals: dynamic Downtown environment provides a  Goldman Sachs recruiting lure for younger talent attracted to the proximity of entertainment, recreation, and transportation options;  HKS

 Startups & Co-working: Downtown is the region’s largest center for co  Invesco -working, with fifteen co-working spaces in operation and a wide network of support for startups and small businesses, including the  Jacobs Engineering Dallas Entrepreneur Center, El Centro College, the Sammons Small  Omnitracs Business Center, the Bill J. Priest Institute for Economic Development, and the Universities Center;  Santander Consumer Financial

 Back-office operations: large B & C class office space and quality mass  WeWork transit access to draw from a diverse labor force.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 43 DOWNTOWN COMMUTING AND LABOR SHED

Dallas Draws from a Regional Workforce: The city of Dallas and its central business district (CBD) are the transportation hub of Dallas-Fort Worth. The regional highway network converges on Downtown Dallas with the intersection of I-35E, I-30 and I-45, along with the termini of the and the North Central Expressway. The average commute time to the CBD is 17 minutes for a resident of the city of Dallas and 33 minutes for a resident of greater Dallas-Fort Worth. Employees who work in the CBD commute from around the metro area, including a high concentration who live just north and east of Downtown. The Downtown Dallas Workforce:

54.4% live in Dallas County

10.3% live in Tarrant County

 10.0% live in Collin County

 6.6% live in Denton County A labor shed is where workers live relative to a user-defined work selection area. It determines 18.8% live in other counties where a labor market draws its commuting workers. This impacts area workforce development, site selection, and transportation decisions.

Source: U.S. Census Bureau Local Employment Dynamics, 2015

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 44 CATALYST: UPTOWN / GREATER DOWNTOWN

Thirty Years of Dynamic Change Corporate Headquarters

Uptown, a collection of neighborhoods north of Downtown, has  Austin Industries boomed over the past three decades. It is the mixed-use lifestyle capital of Dallas-Fort Worth. Four tax-increment financing districts  Balfour Beatty North America have cultivated*:  Crosstex Energy

 13,291 housing units;  Dean Foods

 486 hotel rooms;  HollyFrontier Corp.

 $4.31 billion in total investment;  MoneyGram International

 3.92 million sq. ft. of new office space; and  Texas Capital Bank  1.16 million sq. ft. of new retail space. Major Retailers

*existing, under construction, or planned  Demerara A collection of amenities unique to Texas:  Kendra Scott  The American Airlines Center is in Victory Park, home of the 2000 NHL  L. Bartlett Stanley Cup champion and 2011 NBA champion ;  Q Custom Clothier

 The McKinney Avenue Streetcar in Uptown now extends into the heart  Stanley Korshak of Downtown to the DART Pearl / Arts District Station;  S.I.C Couture  Klyde Warren Park opened in October 2012, capping Woodall Rodgers Freeway to connect Downtown and Uptown;  Soulcycle

 The West Village, a residential, retail, and entertainment destination,  Suitsupply was part of the Cityplace Area TIF District, retired in 2012. Created in  V.O.D. 1992, the district added over 3,300 residential units and 500,000 sq. ft. of commercial space;  Warehaus

 The State-Thomas TIF District was successfully retired in 2008, two  Whole Foods Market years ahead of schedule, following two decades of supporting the development of a mixed-use neighborhood characterized by elegant McKinney Avenue Trolley apartments and townhomes. City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 45 CATALYST: TRINITY RIVER CORRIDOR

The Heart of Natural Dallas Trinity River Corridor Project:

The Trinity River Corridor Project is changing Dallas’ image and redirecting  Provides flood protection; development patterns in North Texas. It is quickly transforming into Dallas’ greatest park.  Manages the corridor in an urban setting, supporting The entire corridor, including commercial and residential opportunity areas mobility goals while outside the park greenbelt, includes over 40,000 acres with recreational enhancing environmental activities within the river’s levees and redevelopment areas outside the and recreational benefits; levees. and

Amenities for enjoying the Dallas Outdoors:  Creates important community and economic  Trinity River Audubon Center opportunities for the  Texas Buckeye Trail, Santa Fe Trestle Trail, Trinity Skyline Trail, AT&T neighborhoods bordering Trail, Trinity Forest Trails, and other paved hike and bike paths the Trinity River, including Downtown.  Margaret Hunt Hill Bridge, Ronald Kirk Pedestrian Bridge, and Felix H. Lozada, Sr. Gateway

 MLK / Cedar Crest Bridge Gateway

 Moore Park Pavilion and Amphitheater

 Trinity Overlook Park

 Lower Chain of Wetlands

 MoneyGram Soccer Park

 Trinity Forest Aerial Adventure Park

 Texas Horse Park and Trails

 Trinity Forest Golf Course, home of the PGA Tour AT&T Byron Nelson Classic

Credit: Cheyne Smith  Big Spring Preserve (Dallas’ first natural Historic Landmark)

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 46 DALLAS FILM COMMISSION

The Dallas Film Commission, a division of the Office of DallasFilmCommission.com Economic Development, is responsible for developing strategies to attract business and to foster the growth of creative media industries. The commission acts as a liaison between the city, community, and industry segments that produce creative content such as motion pictures, television programs and commercials, corporate videos, documentaries, music videos and still photography, as well as other new and emerging forms of media. Dallas’ appearance in the media is a powerful promotional tool that creates public awareness of the city’s attributes and diversity. The commission’s mission includes marketing, informing, promoting, and advocating for local creative media businesses and freelance professionals. The Dallas Film Commission website is an extensive resource for the latest news on local creative media events and current job opportunities, including both crew and casting calls, and it provides advertising for local crew, service providers, and equipment vendors through the online Production Directory. The commission also maintains an online photo library to assist productions in finding and identifying suitable filming locations. In FY 2016, direct spending for creative media projects facilitated by the Dallas Film Commission totaled an estimated $100 million and included 328 projects and 2,046 shoot days.

Project Highlights: Films: A Ghost Story, Kill the Czar, Bomb City, Color Me You, The Harrowing, A Very Sordid Wedding, A Heart That Forgives, Three Days in August, Revenge in Kind, Full Court: The Spencer Haywood Story, LBJ (partial), and Jackie (2nd unit). Television: Queen of the South (USA series), Broken (ABC pilot), Murder Made Me Famous (Reelz), Scandal Made Me Famous (Reelz), Reagan: From Movie Star to President (Reelz), Carter High documentary (ESPN), Fast N’ Loud (Discovery), Misfit Garage (Discovery), Hello Goodbye (Travel), Texas Flip N’ Move (HGTV), Real Housewives of Dallas (Bravo), Cheerleaders: Making the Team (CMT), WWE- Wrestlemania (WWE Network), Monday Night Raw (USA, Spike), and many more.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 47 QUALITY OF LIFE OVERVIEW

Cultural The Dallas Arts District, the largest in the country, is home to museums, performance halls, restaurants, and residences. A recent $338 million expansion greatly enhanced the District with new performing arts venues. Fair Park is a cultural and entertainment center on 277 acres of landscaped grounds two miles from Downtown. This National Historic Landmark has the largest collection of Art Deco architecture in the world and hosts the largest state fair in the country, the . Dallas Festival of Ideas House of Blues Dallas also has numerous cultural centers, independent museums, galleries, arts groups, and festivals. Entertaining Hometown to Neiman Marcus, Dallas is well-known for its abundant shopping opportunities, with 82 million square feet of retail space. The Dallas area has more restaurants per capita than any other U.S. city. The Dallas park system includes 43 community and neighborhood recreation centers, 4 dog parks, 202 playgrounds, 154 miles of hiking and Credit: Kauwuane Burton Photography biking trails, and six 18-hole golf courses. The Great Trinity Forest, with Dallas Trails System 6,000 acres, offers additional natural trail experiences. The Dallas Zoo and the Dallas Arboretum and Botanical Gardens also provide outdoor recreational opportunities. Professional sports teams include the Dallas Cowboys (NFL), Dallas Stars (NHL), Dallas Mavericks (NBA), (MLB), and FC Dallas (MLS). Comfortable Average annual temperature: 67° Credit: Kauwuane Burton Photography Credit: DCVB Average precipitation: rainfall (37.4 in), snowfall (2 in.) Galleria Dallas American Airlines Center Annual number of sunny/partly sunny days is 232. City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 48 COST OF LIVING

The C2ER Cost of Living Index consistently reports that it is comparatively less expensive Dallas Cost of Living to live in Dallas than in many other cities in the U.S. The total cost of living in Dallas is 0.4 percent higher than the U.S. average. Item U.S. Avg=100 Dallas’ Comparative Advantage: Total 100.4 Grocery Items 108.5 No personal or corporate income tax Housing 88.0  Texas is the fifth lowest among states in total state tax burden (Source: Tax Foundation, 2016) Utilities 98.7 Transportation 101.5 Median home sales price:  DFW $207,300 — 7th lowest price of top 20 largest U.S. metro areas (2016p) Health Care 106.3  U.S. $235,500 (National Association of Realtors, 2016p) Misc. Goods & Services 106.6 Source: C2ER 2016 Annual. Cost of Living: Top Ten MSA Core Cities 2016 State Tax Collection Per Capita

Cost of Living Index: Top Ten MSA Core Cities 2016 Area Per Cap Value U.S. (average all states) $2,677 Texas $2,085 Source: Tax Foundation, “Facts & Figures 2016." Location Affordability Index (LAI) (Percentage of Income)

Area Percent of Income

U.S. (metro average) 57% City of Dallas 45% Source: U.S. Department of Housing and Urban Development. The LAI estimates the percentage of a family's income dedicated to the combined cost of housing and transportation, based upon a typical annual income of $58,190, household size of four and two commuters Source: C2ER 2016 Annual. per home (both rent and own). City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 49 CULTURAL ARTS

Cultural The Dallas Arts District is a collection of renowned performance halls and museums, restaurants, and residences. A $338 M expansion culminated in the 2009 grand opening of the Winspear Opera House, the Wyly Theater, Performance Park, and the Artist Square. (formerly known as Dallas City Performance Hall) opened in 2012. These new additions joined the Dallas Museum of Art, the , the Meyerson Symphony Center and the Crow Credit: Dallas Symphony Orchestra Collection of Asian Art. The Bowler Hat by Keith Turman Dallas Symphony Orchestra The largest arts district in the country is just the beginning of the arts offerings Dallas has in abundance. Additionally:

 Over 300 works of public art are showcased in the city. The Love Field Art Collection at Dallas Love Field Airport features 12 new commissions and 5 previous installations.

 Cultural centers—such as the Bath House Cultural Center, the Latino Cultural Center and the South Dallas Cultural Center—provide intimate venues for performing and visual arts.

Credit: Urban Fabric Photography Credit: Kauwuane Burton Photography  The $185 M Perot Museum of Nature and Science opened in 2012. Perot Museum of Nature & Science Dallas Design District  Modern art lovers appreciate the Dallas Center for Contemporary Art, the McKinney Avenue Contemporary and the Museum of Geometric and MADI Art.

 The Meadows Museum at Southern Methodist University holds one of the largest collections of Spanish art outside of Spain.

 Fair Park is home to several museums and gardens, including the African American Museum and the Texas Discovery Gardens.

 The Museum of Biblical Art focuses on biblical art themes. Credit: Iwan Baan  Dallas has dozens of private art galleries that feature works ranging Latino Cultural Center Wyly Theater from 19th century European paintings to 21st century street art.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 50 SPORTS AND RECREATION

The City of Dallas Park and Recreation System includes 13 lakes, 154 miles of hiking and biking trails, 43 recreation centers, 875 sports venues, 202 playgrounds, 17 pools, 11 spraygrounds, 1 family aquatic center, 6 18-hole golf courses, and 4 driving ranges. In total, Dallas parks cover over 23,000 acres. One of the most popular places for jogging, bike riding, and sailing is White Rock Lake. The Dallas Arboretum is on the shores of the lake and hosts numerous annual events. Credit: Glenn James/ NBAE/Getty Images The Santa Fe and Katy Trails connect walkers, runners, and cyclists Mavericks White Rock Lake Credit: DCVB and east of Downtown through in-town neighborhoods, connecting White Rock Lake to Downtown. Off-road biking trails wind through creeks and woods minutes from Downtown at the Oak Cliff Nature Preserve and others. The Trinity River Corridor Project includes the development of numerous trails, athletic fields, lakes, the Trinity River Audubon Center, and the Texas Horse Park along the Trinity River through the heart of the city. In total, the Trinity will create a 10,000-acre park including almost 6,000 acres of forest.

Dallas Fair Park is a cultural and entertainment center on 277 acres of Credit: Edith Alcantar landscaped grounds just two miles from Downtown. This National Trinity River Audubon Center State Fair of Texas Historic Landmark has the largest collection of Art Deco architecture in the world and hosts the largest state fair in the country, the State Fair of Texas. Several museums and performance venues call Fair Park home. The Dallas area is home to teams in all five major professional sports:

 Dallas Cowboys (football)

 Dallas Mavericks (basketball)

 Dallas Stars (hockey)

 FC Dallas (soccer) Credit: Trey Hill Credit: DCVB Dallas Stars Dallas Zoo  Texas Rangers (baseball) City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 51 SHOPPING AND DINING

Major Shopping and Entertainment Districts Galleria Dallas, a unique urban shopping destination with attached hotel and office buildings, has nearly 200 nationally and internationally recognized shops and restaurants surrounding an impressive ice rink. It hosts 19 million visitors annually. NorthPark Center is 2.3 million sq. ft. with over 235 distinctive stores and restaurants. It features museum-quality modern art pieces. Downtown Dallas is home to Neiman Marcus’ flagship store as well as boutiques, restaurants, clubs, and a growing farmers market scene. Nearby West Village, Deep Ellum, the Cedars, and Uptown are popular mixed-use destinations for shops and restaurants. The Asian Trade District along and Royal Lane is known for its Asian flavor and affordable retail and wholesale goods. The Dallas area has more restaurants per capita than any other U.S. city. Clusters of unique restaurants and shops are scattered throughout the city, notably in destinations in Downtown, Uptown, Bishop Arts District, Deep Ellum, Greenville Avenue, Knox-Henderson, and Lakewood. The newest center of dining is Trinity Groves, an evolving 15-acre restaurant, artist and entertainment destination in .

Credit: Kauwuane Burton Photography The Shops at Park Lane Cake Bar at Trinity Groves The Island Spot Knox-Henderson Apple Store

Credit: Urban Fabric Photography Credit: Kauwuane Burton Photography The Kessler Theater Neiman Marcus Alamo Drafthouse Cinema Dallas Ruibal’s Dallas Farmers Market

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 52 COLLEGES AND UNIVERSITIES

Higher There are 26 colleges and universities in Dallas-Fort Worth, including three universities that have received “Tier 1” Carnegie Classification status, a designation reserved for universities with the highest levels of research activity in the country. Eleven universities or colleges are either in or directly border the city of Dallas. Southern Methodist University, the University of Texas at Dallas, the University of North Texas at Dallas, Dallas Baptist University, , , Dallas Theological Seminary, Parker University, , and the provide a diverse set of opportunities for four-year and advanced degrees. The University of Texas Southwestern Medical Center at Dallas boasts five Nobel laureates on its faculty, more than any other university in Texas. The Dallas County Community College District has nine campuses, five of which are in Dallas.

2015 DFW Highest Education Attainment Institution Type Enrollment

 33.4% have earned at least a bachelor’s degree Public Universities 89,341

 11.3% earned a graduate or professional degree Private Universities 18,978 Source: US Census Bureau American Community Survey 5-Year Estimates, Community Colleges 189,582 2015, Population 25 years and older. Total Institutions 297,901 Source: Texas Higher Education Coordinating Board, 2016.

Southern Methodist University The University of Texas at Arlington The University of North Texas City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 53 PRIMARY AND SECONDARY EDUCATION

The city of Dallas is served by nine independent school districts (ISDs). Texas school district boundaries do not follow city boundaries. In 2016, School District Enrollment there were 293 public and public charter school campuses within the city Dallas ISD 157,886 of Dallas designated as having met the standards set by the state of Texas. Garland ISD 57,133 In 2017, Dallas ISD had two of the ten highest-rated public high schools in Plano ISD 54,173 the nation, according to U.S. News and World Report. The School for the Talented & Gifted was ranked the #4 high school in the nation, and the Mesquite ISD 41,038 School of Science and Engineering was ranked #9. Seven other Dallas ISD Richardson SD 39,268 schools also ranked within the top 1,000 in the U.S. Irving ISD 34,792 Sixty-two state-registered charter school campuses operated within the Grand Prairie ISD 29,344 City of Dallas during the 2016-2017 school year. Carrollton-Farmers Branch ISD 25,249 Dallas is also home to over 80 private schools. These include many Duncanville ISD 12,824 religious, Montessori, single-sex, special needs, and dual language immersion schools. In 2017, Niche.com included two Dallas private Source: Texas Education Agency, 2016-2017 School Year. schools, St. Mark’s School and The Hockaday School, on its list of the top 50 best private high schools in the U.S. St. Mark’s ranked first in Texas.

Credit: Brian Birzer Photography Credit: Brian Birzer Photography St. Phillip’s School School for the Talented & Gifted at Woodrow Wilson High School Booker T. Washington High School for Yvonne A. Ewell Townview Center The Performing and Visual Arts

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 54 HEALTH AND WELLNESS

Dallas Health Care Excellence U.S. News & World Report 2016-17 Rankings:

As the city where group health insurance was invented, Dallas is home to recognized  Children’s Medical Center of Dallas ranks 6th in hospitals that are consistently ranked top in the nation. The city’s public hospital, pediatric orthopedics, 7th in pediatric Parkland Hospital, is one of the largest in the country. It opened a new 2.8 million gastroenterology and GI surgery, 11th in pediatric square feet, $1.3 billion hospital in August 2015. nephrology, 12th in pediatric urology, 12th in With more than two dozen hospitals in Dallas-Fort Worth and ten in Dallas, quality pediatric cardiology and heart surgery, 15th in health care and wellness services are easily available. pediatric cancer, 18th in pediatric neurology and neurosurgery, 22nd in pediatric pulmonology, 25th in There are five Nobel Laureates on the faculty at UT Southwestern Medical Center, one pediatric diabetes and endocrinology, and 34th in of three medical schools located in Dallas-Fort Worth. pediatric neonatology.

Parkland Memorial Hospital, Methodist Dallas Medical Center, and Baylor University  Baylor University Medical Center at Dallas was Medical Center at Dallas are Level I trauma centers. recognized for being high performing in eight specialties and ranks in the top 50 in four categories. Children’s Medical Center Dallas is the only Level I pediatric trauma center in Dallas- Fort Worth.  UT Southwestern Medical Center ranks in the top 50 nationally in three categories of care and is high- Staffed / Licensed Annual Facility performing in three specialties. Beds Admissions The top four hospitals in the U.S. News & World Report Baylor University Medical Center at Dallas 1,025 36,241 Dallas-Fort Worth rankings are located in the city of Parkland Health and Hospital System 983 37,515 Dallas. Texas Health Presbyterian Hospital Dallas 898 27,244 VA North Texas Health Care System 875 N/A Medical City Dallas Hospital / Medical City Children's 668 24,555 University of Texas Southwestern Medical Center 610 N/A Methodist Dallas Medical Center 515 18,512 Children's Medical Center of Dallas 487 28,289 Methodist Charlton Medical Center 285 13,155 Source: Dallas Business Journal 2017 Book of Lists.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 55 CLIMATE AND ECOLOGY

Climate The weather in Dallas is moderate, with very warm summers and cool but comfortable winters. Dallas experiences four distinct seasons. Temperatures reach their zenith during July and August when they can reach 100°F (38°C.) Winter in Dallas is usually mild; daytime temperatures can reach up to 66°F (19°C), but temperatures can dip below freezing at times. It is common to have one or two ice storms and snowfalls during the winter. Dallas receives most of its visitors in the spring due to delightful weather. Thunderstorms are common and rainfall comes in heavy bursts in April and May.

 Average rainfall is 40.9 inches per year.

 Average snowfall is 2.6 inches per year. Credit: Sean Fitzgerald

 Annual number of sunny/partly sunny days is 232.

Ecology Dallas lies between the Piney Woods of east Texas and the Great Plains in the Blackland Prairie. Rolling grasslands are laced with bottomland forests along rivers and creeks. The Trinity River runs through the city, and just south of Downtown is the 6,000-acre Great Trinity Forest, home to an estimated 1,300 plant and animal species. Source: World Wildlife Fund, Texas Parks and Wildlife Department, U.S. National Weather Services, City of Dallas.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 56 ENVIRONMENTAL STEWARDSHIP

A City Committed to the Future Sustainability Initiatives

 First U.S. city to adopt the International Green Construction Code as  Complete Streets and Bicycle Advocacy. Complete Streets mandatory for all new commercial construction (2012), and one of the first provide safety for users of all modes of transit, of all ages. major U.S. cities to pass a comprehensive standard for both Through community support and public policy the City has residential and commercial construction (2009); completed two pilot projects with plans for 13 additional Complete Streets pilot projects. The Dallas Bikeway System  First U.S. city to implement the ISO 14001 certified environmental now includes 154 miles of multi-use trails, shared lanes, bike management system (2008); lanes, and buffered bike lanes. An additional 80 miles of on- and off-street infrastructure are funded or under  100 percent of grid-based electricity used by city facilities comes from wind power; construction;  Healthy Food Systems. Farmers markets, community  Nearly 40 percent of City vehicles are alternative-fueled or hybrids; gardens, aquaponics, and farm-to-table restaurants and  Methane gas captured in wastewater treatment produces renewable grocers are creating strong neighborhoods and sustainable energy to offset a percentage of Dallas Water Utilities’ electricity grid new jobs in Dallas. needs;

 Per capita water demand has decreased an average of 7 percent a year between 2011 and 2014 and 5.6% between 2015 and 2016;

 Residential recycling reached 80 percent participation in 2016, increasing waste diversion to over 56,000 tons. To provide greater accessibility, the City has over 90 recycling drop-off sites;

 The Dallas Innovation Alliance is implementing Phase One of its Smart Cities Initiative in the West End. The alliance is testing new technologies that improve infrastructure, mobility and connected living to create a more sustainable and efficient city. Partners include the City of Dallas, Dallas Area Rapid Transit, the Dallas Regional Chamber of Commerce, AT&T, and the Dallas Entrepreneur Center. Accolades

 #7 in number of Energy Star rated buildings among U.S. cities (EPA, 2016);

 #2 top local government purchaser of sustainable energy (EPA, 2017). The LEED-Certified Trinity River Audubon Center

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 57 UNEMPLOYMENT RATE

The city of Dallas has either matched or out-performed the national unemployment rate since 2008. The city’s diverse business and industry mosaic has helped keep its unemployment rate lower than the U.S. average.

Unemployment Rate 2007-2016

Calendar Year 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

City of Dallas 4.6 5.4 8.2 8.5 8.0 7.0 6.4 5.3 4.1 3.9 United States 4.6 5.8 9.3 9.6 8.9 8.1 7.4 6.2 5.3 4.9 Source: Bureau of Labor Statistics and The Labor Market & Career Information Department (LMCI), Texas Workforce Commission.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 58 CONSTRUCTION ACTIVITY

Calendar Year 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Value of Permits ($B) 2.82 3.48 3.28 3.37 2.48 2.75 1.94 2.54 3.54 2.92 3.06 Change vs. Prior Year N/A 23.3% -5.9% 2.8% -26.4% 11.1% -29.6% 30.9% 21.6% -5.2% 4.7% Source: City of Dallas Department of Sustainable Development & Construction, Completed Building Permits, CY 2016.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 59 ANNUAL GROSS SALES

City of Dallas Annual Gross Sales In 2015, annual gross sales in the 2002-2015 city of Dallas was over $133 billion. Annual gross sales are the grand 2007-2009 total of all sale transactions reported Recession during the calendar year. Sales are reported by all North American Industry Classification System (NAICS) sectors and for all-industry totals. The trade sectors represent the largest percentage of annual gross sales with a combined 52 percent of the total. Of this, wholesale trade represents 34.4 percent and retail trade 17.6 percent. Other sectors with substantial representation include manufacturing with 10.2 percent, utilities with 9.4 percent, construction at 6.8 percent, and professional with 4.2 percent of the total. All other industry sectors individually had shares below 4.0 percent.

Source: Texas Comptroller of Public Accounts.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 60 GROSS CITY PRODUCT ESTIMATE

The Gross City Product (GCP) Estimate is produced by the City of Dallas as a comparative measure to the nominal U.S. and Dallas-Fort Worth Metropolitan Statistical Area (MSA) Gross Domestic Products (GDP). The preliminary value of Dallas’ GCP in 2016 is estimated at $138.7 Billion.

Calendar Year CY2007 [r] CY2008 [r] CY2009 [r] CY2010 [r] CY2011 [r] CY2012 [r] CY2013 [r] CY2014 [r] CY2015 [r] CY2016 [p]

Value (in millions) $105,596 $104,521 $96,135 $99,110 $107,835 $111,270 $122,176 $127,979 $133,671 $138,702 Change 1.0% 0.8% -7.1% 2.8% 9.3% 3.4% 7.5% 4.0% 2.6% 2.6% Source: City of Dallas, Office of Economic Development. Estimates revised based upon September 2017 revision for 2001–2015 nominal GDP-by-MSA from the Bureau of Economic Analysis (BEA) [p] - Preliminary estimate, [r] - Revised estimate.

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 61 COMPARATIVE METRO HOME PRICES

The National Association of Realtors Metropolitan Median Area Prices and Affordability Report provides a measure of the median selling prices for existing single-family homes and condos by metropolitan area. A majority of metropolitan areas in the United States experienced strong price growth during 2016 as a result of a decline in housing supply and an uptick in demand fueled by low interest rates and a stronger job market. Median sale prices in the U.S. increased by 5.7 percent during 2016. Median sale prices in the Dallas-Fort Worth metropolitan area increased by 9.6 percent and increased by 2.6 percent during the first quarter of 2017.

Source: National Association of REALTORS® Median Sales Price of Existing Single-Family Homes for Metropolitan Areas, March 2017, preliminary values (in thousands).

City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 62 CITY OF DALLAS STOCK INDEX

The City of Dallas Stock Index is a capitalization-weighted index that tracks the collective total market value of all publicly traded companies headquartered Share of Firms by Industry within the city of Dallas. The index is updated quarterly based on corporate SEC filing data and is indexed to the first quarter of 1996. Total market capitalization for publicly traded companies within the city of Dallas for the 1st quarter of 2017 was $543.9 billion. The 1st quarter of 2017 ended with an index value of 4068.81, meaning that the total market value of all publicly traded companies within the city of Dallas was more than six times the market value during the first quarter of 1996, which has largely mirrored the performance of the S&P 500. The City of Dallas Stock Index is one element of the City of Dallas Office of Economic Development’s efforts to track economic conditions within the city of Dallas. Municipal stock indices are often used as an indicator of near-term local economic performance. City of Dallas Capitalization-weighted Stock Index vs. S&P 500

Source: Yahoo! Finance, 2017.

The above chart shows the share of publicly traded firms headquartered within the city of Dallas by major industry. The total market value of publicly traded companies within the city of Dallas during the first quarter of 2017 was dominated by firms in the Information, Manufacturing, and Trade, Transportation, and Utilities sectors.

Source: Yahoo! Finance, 2017; City of Dallas, 2017. City of Dallas Economic Profile 2017 (214) 670-1685 | www.dallasecodev.org 63