10 reasons why you should relocate your business to DFW?? Seriously?!? I’m limited to 10?? Listen to today’s podcast to find out what Jan thinks is number 1…..
Truly shocked we were able to narrow this list down to 10 items and Jan’s a bit frosted that her precious Texas Rangers didn’t make the list nor BBQ, I currently don’t think she’s even speaking to me. With that said, let’s dive right in to the 10 reasons:
- Central Time Zone – with the advent of constant shipping/traveling/gotta be there right now, being centrally located in the country is highly desirable. Take our son, for example, while he has sales calls in his job from all over the world, they are primarily in the US and being in the CST it makes it much easier for him to call the East Coast or West Coast, regardless of time. Distribution of goods is faster and cheaper and travel is more convenient.
- DFW Airport – having a huge, international airport that flies practically anywhere is invaluable to business owners. You can fly anywhere in North and Central America within about 3 hours or less. It’s the 4th busiest airport in the world based on passenger travel behind two others, one in China and one in Atlanta. It’s interesting, of the top 15 airports in the world, 9 are in China, 1 in Japan and 5 in the US – Atlanta, DFW, Denver, Chicago and LAX. A great airport like that is a huge economic engine for the region.
- Low Taxes (corporate & individual) – Texas has always prided itself on having no income tax. That said, we do have a higher property tax rate, but the net is still heavily advantaged to us. Corporate tax incentives are normally given away like candy whenever a big company states they wish to move to a city in Texas. If you look at the total tax burden paid by individuals in the US, guess which state is #1 (and not in a good way) – NY. Hawaii, Vermont, Maine and Connecticut or Minnesota (depending on the source) round out the top 5. Texas is #30 according to Wallethub.com and #47 according to TaxFoundation.org. Corporate taxes are a little different. South Dakota & Wyoming tie for 1st, then Missouri, North Carolina and South Carolina are the top 5 according to TaxFoundation.org. Texas is #47.
- Low Cost of Living – housing, food, taxes (again-see above), transportation-just across the board we rate better than most big areas. NYC is the worst in the US followed by SF, Anchorage, Honolulu and Brooklyn. Dallas is #52 according to Numbeo.com.
- Labor Force – we’ve always had a wealth of blue collar workers, financial, and oil & gas workers, etc. While Austin is now called “Silicon Hills” for the tech companies it’s attracting, DFW is one of the top cities in terms of high-quality tech worker availability.
- Weather (not sure about this one after Snovid….) – normally, Texas is a more moderate climate than other locales, but of late, it’s hard to predict the weather anywhere! 120 degrees recently in Seattle?? All said, we still experience more sunshine and less rain, sleet and snow than many metropolitan areas. This translates to more reliable transportation of people and goods and a smoother overall economy.
- Education – while we definitely have our big universities and their panoply of disciplines, I would also point out that there are lots of other educational venues locally from tech to real estate to hospitality to culinary. DFW has it if you want to learn about and/or become accredited in it!
- Cultural Opportunities – Jan’s Texas Rangers aside, the DFW area is the home to many one-of-a-kind culture venues from the Kimball and Amon Carter Museums in Fort Worth to the Nasher Sculpture Center in Downtown Dallas. There are far too many to name. It’s not that DFW is better than other cities in this category, but we definitely hold our own.
- Quality of Life – I really like this one. After the pandemic I think it’s beginning to speak to people more and more. Money is good, don’t get me wrong, but what good is it if you hate your life? DFW is highly liveable with lots of things to do and the weather allows you to do them.
- Pro-Business Attitude of People and Governments – As Jan’s Dad always said, Big D is a great place to do ‘bidness’. He always loved this area and I think the attitude of most people here is one of the big reasons. Government and schools understand that business and the jobs they create are what attracts people to DFW. People move here with no jobs just because of the reputation.
Get ready, after this podcast, even more people are going to be moving here!
Bob Gibbons is a Real Estate Advisor & Tenant Advocate (also known as a tenant rep) with REATA Commercial Realty, Inc. which is a tenant advisory firm based in Plano, Texas. Bob serves companies in Plano, Frisco, McKinney, Allen, Richardson, Addison, Dallas and the surrounding areas and specializes in companies which lease or buy office and warehouse properties.