Why North Texas is the Best Area for Jobs and the Top Neighborhoods That Mean Business
For the second year, Forbes ranked Dallas-Plano-Irving at No. 1 on its Best Cities for Jobs list. According to Forbes, North Texas’ prominence in the top spot is based on consistency.
Despite the lean years during the Great Recession, job growth in the region has soared 25.6 percent since 2006 and 19.6 percent since 2012, fueling steady population gains. In 2017, the metro area census jumped 2.02 percent.
After the 1980s oil, gas, and real estate crash sent the Texas economy spiraling, Dallas area leaders seemed to shift into diversification mode to move the local economy forward, and it paid off mightily. Though oil, gas, and real estate are still power players in today’s hot economy, there’s a more balanced mix of industries ranging from technology and construction to business services and finance.
Consequently, 21 Fortune 500 headquarters now call North Texas home, including giants Exxon-Mobil and AT&T. In recent years, new headquarters for Toyota North America, Jet Suite, Boeing, Pei Wei, and Jamba Juice have been built in the metro area as well as regional campuses for Liberty Mutual, JPMorgan Chase, and State Farm Insurance. The headquarters for Smoothie King and a Payless operation are on the way, and North Texas is on the prestigious short list for Amazon’s HQ2.
Between a pro-business attitude and relocation acumen, North Texas leaders are proficient at strategically packaging and marketing their economic development product. But low taxes and affordable housing give the region a distinct edge, especially when competing against coastal metros.
Downtown Dallas
Despite corporate campuses, business parks, offices, retailers, and hospitality venues dotting vast areas of the city, the Central Business District (CBD) in Downtown is Dallas’ premier neighborhood that means business.
The CBD houses several major corporate employers, including the AT&T, 7-Eleven, Neiman Marcus, Comerica, and Tenet Healthcare headquarters. It’s likewise the epicenter for finance, including domestic and international investments. Given its proximity to the airport, this business center is a hub for foreign investment activity.
With 30 million square feet of office space in the sprawling CBD, expansions and moves are always in the works. While the Downtown workforce exceeds 135,000 employees, the neighborhood is not all work and no play. From a lifestyle standpoint, more than 70,000 residents live in the City Center, and the Downtown Dallas residential population is over 11,000, according to Downtown Dallas, Inc.
As a live, work, and play neighborhood, the area in and around the CBD is an urban blend of restaurants and bars, boutique shops, several lush city parks, the Dallas Arts District, live concerts at Klyde Warren Park, and easy access to the Farmers Market District and The Cedars via bike sharing and DART transit.
Legacy West
The $3.2 billion Legacy West mixed-use development is touted as the next central business district in North Texas. Located in Plano, the 255-acre neighborhood is anchored by massive headquarter campuses for Toyota North America, Boeing, Liberty Mutual Insurance, and JPMorgan Chase.
The walkable boutique community includes the Renaissance Legacy Hotel and four residential buildings: The Grand at Legacy West, The Villas at Legacy West, Windrose Tower, and Palladium USA International. Also, in addition to a bevy of restaurants, bars, and upscale retail, the three-story Legacy Food Hall and outdoor concert area are part of the mix.
Las Colinas
When Las Colinas began taking shape in the 1970s, the 12,000-acre spread was among the first master-planned communities in the United States and the largest mixed-use development in the Southwest. Today, with a daytime population of 130,000 workers, 26.5 million square feet of office space, over 1.3 million square feet of retail, and the largest office park in North Texas, the Las Colinas neighborhood has the makings of a second central business district in Dallas-Plano-Irving.
Hundreds of companies call Las Colinas home, including five Fortune 500 headquarters: Celanese, Commercial Metals Company, Exxon-Mobil, Fluor Corporation, and Kimberly-Clark. Because of the proximity to major employers, Las Colinas is one of the most sought-after neighborhoods to live in North Texas.
Ranked the most diversified zip code in America in 2013 (75038), Las Colinas is an eclectic mix of pet-friendly parks, restaurants, live music at the Toyota Music Factory, and of course, the Mustangs of Las Colinas—the life-size bronze centerpiece at Williams Square.