Commercial Real Estate

CRE Opinion: Dallas’ Secret Sauce

Diversification of industry is key to DFW’s long-term sustainable growth.

For 13 years running, the great state of Texas has been voted the best state to do business by Chief Executive Magazine. This survey is comprised of thousands of CEOs across the country who rank their experience in doing business in each state. Due to Texas’ pro-business environment and low-cost policies, DFW is home to 42 Fortune 1,000 companies. And I have a hunch that Dallas will continue attract businesses to its state—especially if states like California pass the proposed corporate income tax (How does 18 percent sound?) currently being discussed in their state legislature. While Austin currently makes a lot of headlines for various new tech companies gobbling up office space, DFW boasts an economy which is balanced and diverse. DFW is a 0.8 on the economic diversity scale while New York is 0.57 and San Jose is 0.22 (the U.S. is 1.0). This diversification of industry is key to DFW’s long-term sustainable growth, and will help Dallas pass Chicago by 2040 as the third largest metro in America.

Ryan McManigal

But all the accolades, the incredible growth, and the recent success Dallas has achieved is ultimately due to its secret sauce. That’s you. Its people. The fun loving, entrepreneurial, pull-yourself-up-by-your-bootstraps citizens of Dallas. It was you who convinced this Santa Barbara surfer grom (that’s a super technical surfer term) to leave the beaches of California and move to Texas. And it was you who, during a recent family tragedy, took planes, trains, and automobiles to surround me back in California during one of the hardest days of my life. And it is because of you all (I mean y’all) that I now call Dallas home. So, in 2018 while trying to win your next deal, build your next building, or pave your next highway, don’t forget to appreciate the secret sauce of Dallas. Your neighbors. Your friends. Your family. And yourself. That’s what makes Dallas great. And for that, I’d like to raise a strong glass of Blanton’s and cheers the citizens of Dallas to new heights and our home: Dallas.

Ryan McManigal is senior vice president of development at KDC.

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