Business News
PureDiscovery founder Dave Copps reinvented search technology to
semantically connect people to relevant information and content. It
goes beyond the typical search of keywords. Currently it’s mainly being
used in the legal field, with one of its largest clients the electronic
archive LexisNexis. The company just raised $10 million in investor
funding to expand the sales force and expand into other markets. Source: Dallas Morning News, Sept 12, 2013.
The old Santiago’s Taco Loco shop at 3014 Main Street in Deep Ellum is
being transformed. Three friends—Andrew Chen, Michelle Midyette, and
Michael Wang—have covered the bright orange paint with wooden slats,
modernizing the building for their soon-to-open Chinese noodle and
dumpling stand, Monkey King. Source: DMagazine SideDish, Sept 13, 2013.
Five Below opened 11 new stores in the Dallas-Fort Worth area on Sept.
12, 2013. The retailer sells a broad range of trend-right, high-quality
merchandise targeted at the teen and pre-teen customer, plus
Texas-themed sports, party, and tailgating gear. All merchandise is
priced at $5 and below.Source: Wall Street Journal, Sept 6, 2013.
Half Price Books is partnering with Lincoln Properties to develop the
property it owns next to its flagship store on Northwest Highway. The
locally-owned bookstore has owned the property for eight years, waiting
for the right opportunity to develop it into a complementary retail
shopping center. Source: Dallas Business Journal, Sept 13, 2013.
The Cooper Institute signed an agreement with the country of Hungary
to bring their FitnessGram program to combat the growing epademic of
childhood obesity in the country. Source: Dallas Business Journal, Sept 10, 2013.
In less than eight years, Softlayers founders took it from a living room
startup to a $500 million global competitor. Sean Charnock and Mike
Jones shared their story at the TeXchange DFW dinner to an audience of
entrepreneurs and startup advocates. Source: Dallas Business Journal, Sept 13, 2013.
Real Estate News
Between Ross Ave and Flora St, the 18-story KPMG Plaza office building will be
under construction shortly. The half-million square foot office tower is
already half full, with the Jackson Walker LP headquarters and KPMG
securing office space. Source: Dallas Morning News, Sept 17, 2013.
Civitas Capital Group just closed on its eighth deal, a $53.5 million
senior loan for construction of The Alexan, a 10-story apartment
community at the prominent Goat Hill just northwest of downtown Dallas.
The asset management and financial services firm specializes in
Alternative Investments, EB-5 Funding, and Wealth Management. Source: PRNewswire, Sept 12, 2013.
The art exhibition known as Deep Ellum Windows produced a series of
weekend pop-up gallery events from February through May. Apophenia
Undergraound and Deep Ellum 42 partnered to fill the vacant storefronts
owned by 42 with curated displays of innovative local artists. Source: D Magazine, June 25, 2013; Dallas Observer, Sept 26, 2013.
Southern Dallas News
Construction is well underway on the Houston Street Viaduct where a
streetcar will soon run from downtown to Oak Cliff. The hundred-year-old
bridge was originally built to accommodate a streetcar and the current
tracks will be placed in the original recessed section. Installation of
the rails has begun with hundreds of 780-ft long strings of steel now in
place. Source: Dallas Morning News, Sept 12, 2013.
 Economic Review
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The City’s unemployment rate decreased by 0.4 percentage points to 6.5 percent.
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The increase in residential employment combined with a minimal decline of the City’s labor force helped to improve the unemployment rate.
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The City outperformed the national unemployment rate by 0.8 percentage points for the second consecutive month.
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