"A job is the best cure for poverty, and that is why
economic development and job creation has been
my principle focus." --- Luther Strange
Regardless of what type of real estate one buys or sells, all buyers and investors need to pay attention to what's going on in terms of growth and prosperity when choosing the right city, state, and location to live independently, raise a family, build and/or grow your business and your net worth. That's why I attended the 2019 MetroTex Forecast Commercial Development Update on Friday, 10/5/2018. Presenter John Terrell, Vice President Commercial Development, Dallas Fort Worth International Airport speaker is not only wise, he is a persuasive speaker, a visionary with a purpose who serves the DFW Community with respect for the people, community, and the environment.
Texas is #1 in Economic Climate
- CNBC - Best State for Business 2018
- Chief Executive Magazine - "Best State for Business" for 2018 14th year in a row 1st in Economic Climate
- $1.7 Trillion Texas economy is second biggest in the U.S.
- 100 of the 1,000 largest public and private companies in the U.S. are based in Texas
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Added 350,000 jobs in the past year, 1 in 7 jobs created in the United States in the past year was created in Texas
- Texas handles roughly $2 trillion worth of commodities per year with Dallas Fort-Worth International Airport playing key roles, the Lone Star State's ability to handle this mass influx of goods makes it the best in the nation for infrastructure
DFW Airport Rankings
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4th in the World for flights
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12th in the World for passengers
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176 domestic destinations
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57 International designations
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Global cargo network
Each international wide-body flight adds an estimated $250 Million annually to the DFW economy. Annual economic impact: $37 Billion. Jobs supported: 228,000. Annual supported payroll: $12.5 Billion. Currently in development is Terminal F (no new runway is needed). Safety and security is high priority with tunnel (fish tank) retina scan.
The DFW Land use plan is updated every five years and refreshed as needed. Commercial development: Over 2,400 acres developed. Over 24 million square feet of buildings. Built at 3rd Party expense. Southgate Plaza: 32 acre mixed use development. PFIC owned 137 room Hyatt Place. Southgate Plaza Hospitality with 137 rooms was opened in January 2016. Home to 154,000 square feet DFW Airport Headquarters Building. Hyatt Hotel - 125 room extended stay, full restaurant, expanded meeting space, construction begins Spring 2019, projected completion 2020.
DFW Airport - Grapevine Site & Amazon HQ2 - Creating a future together.
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