DFW Economy

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tamtagon
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Re: DFW Economy

Postby tamtagon » 09 Jul 2022 08:10

I wonder what's going to happen to all the data center warehouse buildings when someone figures out a better to store data.

and I wonder if another chip manufacturer will move into Grayson County.

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I45Tex
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Re: DFW Economy

Postby I45Tex » 10 Nov 2023 01:15

I don't know if any of you knows your way around USMayors' website. They seemed to stop publicizing or linking to their annual "Metro Economies" reports when the metro economic growth went belly-up in 2020, but they continued being written. I found a link (below) to the 2021-vintage numbers somewhere else, but the 2022 year numbers should have been published this June and probably were -- if one knows where to find the URL.

https://www.usmayors.org/wp-content/upl ... 6-3-22.pdf

Page 38 using the page numbers (in the PDF itself, page #50/131) estimated that both DFW and Houston would grow GDP at an annualized average rate of 3.2% from 2021 to 2027. Sherman-Denison was estimated at 2.1% but this was prior to all sorts of current events there. I do not think that their MSA would be merging into the Metroplex by then but we can still watch its numbers be revised upwards in future projections.

Tnexster
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Re: DFW Economy

Postby Tnexster » 28 Dec 2023 16:13

Wall Street’s Seismic Shift Propels Dallas Past Chicago, LA

https://finance.yahoo.com/news/wall-str ... 00072.html

Dallas saw three of Wall Street’s largest banks start on new campuses this year, cementing their bets on one of the fastest-growing metros in one of the fastest-growing states. The industry’s rapid Texas expansion since the onset of the pandemic means the area now has more finance workers than Chicago or Los Angeles, trailing only New York.

And it isn’t just the major banks. Asset managers of all sizes have been looking to cash in on the influx of wealth and people moving from the coasts to Dallas for cheaper housing and no state income tax. Fisher Investments relocated to suburban Plano from Washington state earlier this year, joining asset managers including Charles Schwab and Canyon Partners that arrived a few years before.

“Right now, the smart money is on Dallas,” Mayor Eric Johnson said at the groundbreaking ceremony in October for Goldman Sachs Group Inc.’s 5,000-person campus in the trendy Victory Park neighborhood near downtown.

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I45Tex
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Re: DFW Economy

Postby I45Tex » 28 Dec 2023 18:08

Odd that they mentioned Atlanta in the article but never Charlotte. This was a shift though:

"Dallas finance executives say the region is chock full of engineering and technology workers, which is part of the reason they’ve located so many back-office operations there.

Over the coming years, they expect more executive and investment banking positions to be located in Texas...

JPMorgan now has 15 investment bankers based in Dallas, a number that’s more than doubled in just a few years."

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Addison
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Re: DFW Economy

Postby Addison » 28 Dec 2023 20:23

Hopefully, this will eventually translate into more F500 HQ relocations.

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tamtagon
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Re: DFW Economy

Postby tamtagon » 28 Dec 2023 20:57

Exxon leaves a big void to fill.,

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Addison
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Re: DFW Economy

Postby Addison » 28 Dec 2023 22:08

tamtagon wrote:Exxon leaves a big void to fill.,


And they're taking Pioneer with them...

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tamtagon
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Re: DFW Economy

Postby tamtagon » 29 Dec 2023 05:43

Would be nice if The Metroplex could replace the fossil fuels industry going to Houston with renewal industry.

Tnexster
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Re: DFW Economy

Postby Tnexster » 02 Jan 2024 09:35

Wall Street’s love affair with Dallas brings wealth of new investment and jobs
New campus projects by three of the nation’s largest banks are helping solidify the city’s status as the financial mecca of the South.

https://www.dallasnews.com/business/ban ... -and-jobs/

The bank build-outs are helping solidify the city’s status as the financial mecca of the South, overshadowing competitors like Atlanta and Miami. The rapid migration of people and businesses to Texas has led to a virtuous cycle of job creation in construction, restaurants and other industries without direct ties to banking.

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The_Overdog
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Re: DFW Economy

Postby The_Overdog » 25 Jan 2024 12:25

Urban3 did a land value per acre presentation for city of Dallas and Dallas county recently:
Video Presentation here:
https://dallastx.new.swagit.com/videos/295377

Some highlights:
The average WalMart in Dallas county is $600k per acre.

Averages:
Single Family home: $1m per acre
Duplex: $2m
Apartment: $3m
townhome: $4
condos: $5m

Comparing various properties:
NorthPark: $9m
Richardson Sq Mall: .4m
Costco: $1.1m
Preston Village: $5.7m
Las Colinas Lincoln Center: $12m
Las Colinas Chase Tower: $15m
El Rincon: $18m
Hattie B's: $19m
Highland Park Village: $21
2409 Rosedale: $30m
Texas Capital Bank (uptown) $75m
Hall Arts: $200m
1900 Pearl: $200m


It also basically confirms what we all know: The high value land of Dallas moves north between US75 and the DNT all the way up from downtown basically to the county line, not evenly, but close enough.

Everything outside of that needs major investment. Dallas needs to grow not only south but also grow up east and west.

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Matt777
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Re: DFW Economy

Postby Matt777 » 25 Jan 2024 17:53

This graphic was also shared.

I don't think it's a north versus south issue, I think it's a density issue. And a surface parking issue. The less dense and the more surface parking there is, the less taxable value per acre. More of a reason to overhaul or jettison parking requirements and let land owners make that call.

And also more of reason to realize the downtown core's importance to the city and to invest HEAVILY in making it more walkable and pleasant. Almost nothing has been done regarding sidewalks and pedestrian safety since I started following Dallas urban development 15 years ago. It's been good to see the investment in parks but we still have a ways to go there too.

Image

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I45Tex
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Re: DFW Economy

Postby I45Tex » 26 Jan 2024 00:24

Does taxable value per acre include sales tax or not?

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The_Overdog
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Re: DFW Economy

Postby The_Overdog » 26 Jan 2024 09:41

Does taxable value per acre include sales tax or not?


I don't think so - I think it's actually just a chart based on assessed value, not actually tax paid (necessarily) either. But I'm not sure about that part. It may be based on actual tax paid.

The less dense and the more surface parking there is, the less taxable value per acre. More of a reason to overhaul or jettison parking requirements and let land owners make that call.


I mean that's somewhat true (and parking requirements are dumb reguardless), but Garland is more uniformly dense than Dallas is, so theoretically it should have more value per acre if it's a straight density question. It has equally bad parking lots. DT Dallas has plenty of parking lots. I think it's a bit more than that - it's density + valuable business, hence why the Central to DNT corridor is more red than east Dallas, even though the density is relatively similar.