North Texas EB-5 Regional Center

 

 

 Support Letters:

Tennell Atkins (Dallas Councilman)

Barbara Mallory Caraway (Texas State Representative)

Betty Culbreath (DFW Airport Board Member)

R.L. Lemke (Mercer Crossing President of POA)

 

 

Dallas/Fort Worth is one of the most dynamic metropolitan areas in the United States.  Its central location, transportation infrastructure, young and talented labor force, diverse collection of industries, and pro-business atmosphere foster a prosperous economic environment and provide an outstanding base for future growth.  In addition, the Metroplex offers its residents and tourists numerous cultural and recreational opportunities while balancing a well diversified economy, minimizing the market risk of a downturn in any particular industry.  

 

Highlights:

• Key central location and pro-business atmosphere that foster a prosperous and sustainable economic environment

• Consistently one of the fastest growing metropolitan areas in the United States

• The largest metropolitan area in Texas and the fourth largest in the country

• Home to 25 Fortune 500 Headquarters (most in the U.S.)

• Located in a right-to-work state

• DFW International Airport, the sixth busiest airport in the world

• Diverse, deep, and educated labor pool

 

DFW benefits from its central U.S. geographic location, roughly equidistant from the three largest metropolitan areas in North America:  New York, Los Angeles, and Chicago.  In addition, the central time zone, low cost of doing business, highly educated work force, and pro-business environment have contributed to the economic success of the Metroplex.

 

 

Economic Overview:

The local economy consists of a diverse mix of companies and industries with recent increases in service and high-tech industries.  The well-balanced and thriving economy has attracted a wealth of corporate and major regional headquarters to DFW, including American Airlines, AT&T, ExxonMobil, JP Morgan Chase, Citigroup, FedEx Kinko’s, FritoLay, JC Penney, Lockheed-Martin, and Verizon.

 

Population:

The Metroplex has a current population of approximately 6.3 million people and represents approximately 26 percent of the Texas population.  DFW continues to thrive and spawned a 20 percent growth in population from 2000-2012.  The North Central Texas Council of Governments (NCTCOG) has predicted the growth of almost 3 million persons and just over 2 million jobs between 2012 and 2030, resulting in a population of over 9 million people and a workforce of 5.4 million.  As a result of the many advantages offered in the region, population growth is projected to outpace both the state and national averages.

 

 

 

 

 

 

Employment:                                                                                                                                                                                                                                           

The Dallas/Fort Worth Metroplex will continue to outpace the nation in terms of employment growth.  D/FW added approximately 780,000 new jobs since the 1990s and an average of 60,000 new jobs per year over the past 5 years.  The unemployment rate as of February 2012 in the DFW area was 7.1 percent compared to 8.3 percent nationally.  DFW is estimated to add an additional 380,000 new jobs over the next 5 years, the highest forecasted total in the United States.  This immense growth and job creation is attributed to DFW’s diversified economy, along with the region’s proactive business climate.

 

 

 

 

 

Transportation:                                                                                                                                                                                                                                                                                                                        The Metroplex’s success as a world-class leader in transportation is a result of its excellent airports, interstate highway system, and emerging rail routes.  The Metroplex is at the center of the three-nation North American Free Trade Agreement (NAFTA).  Seventy percent of exports to Mexico are routed through the Metroplex, and all of the nation’s largest rail lines serve the Metroplex and coordinate with motor and truck carriers at four intermodal freight centers.

DFW International Airport is the sixth busiest airport in the world and has an aggressive expansion budget to enhance passenger volume growth even further.  In addition, Love Field is home to Southwest Airlines, the nation’s third largest airline.  DFW is also home to Addison Airport and Alliance Airport.

 

A sophisticated highway infrastructure system secures the Metroplex’s position as a major distribution hub in the southwest and in the nation.  Interstates 20 and 30 connect Dallas to Fort Worth and provide east/west access from coast to coast.  Interstates 35 and 45 provide north/south access from Mexico through the northern U.S.  More than 50 million people can be reached from DFW overnight by truck or rail, and 96 percent of the U.S. population can be reached within 48 hours.

 

Dallas Area Rapid Transit (“DART”) serves Dallas and 13 suburban cities with a wide range of public transit services and customer facilities tailored to fast, comfortable, and economical transportations.  The DART system averages over 60,000 passengers daily with 45 miles of light rail and provides convenient access to most of Dallas.  Plans include a total of 93 miles of light rail by 2014, including the new extensions to the Medical Center in Farmers Branch/Carrollton, the Urban Center in Las Colinas, and DFW International Airport.