D ECONOMY EXCLUSIVE
The 2017 City of Dallas Economic Profile is now available!
The 2017 City of Dallas Economic Profile is now available, providing a snapshot of demographic and economic statistics as well as the latest on what's happening in the City of Dallas. Looking to relocate your business to Dallas? Need the right workforce? Or find lifestyle options that work for you? Find all that and more in this latest edition of the Profile. Source: www.DallasEcoDev.org,
September 27, 2017.
General News
Icelandair and Wow Air are coming to DFW Airport
Interested in visiting Iceland? Then get ready, as Icelandair service is coming to DFW International Airport. Service to Reykjavik starts next May, with four flights per week. Icelandair joins Wow Air, which recently announced it would also start service from DFW to Iceland in May. Icelandair will be the 17th international carrier to serve the airport.
Source: Dallas Culture Map, September 14, 2017.
Real Estate News
$108M Virgin Hotel Dallas is bringing lace-clad vision to Design District
The
Dallas Design District is getting a Virgin Hotel-branded hotel, only the second
one to be built in the U.S. When Scott Lowe, a principal at project architect
5G Studio Collaborative, described the new hotel, he started with its design,
which includes a lace-clad exterior that will change as the sun, clouds and
lights rotate around the sculpture-like building. “I am convinced we’ll never
see the same building twice; it will constantly change and move.” The new
hotel, located at 1909 Hi Line Drive, is slated for completion in 2019.
Source: Dallas Business Journal, September 7, 2017.
Education services company UWorld is moving HQ to Cypress Waters
Education services company UWorld has signed a lease for 50,000 square feet of office space at 9111 Cypress Waters Boulevard in northwest Dallas. The company, which specializes in preparation for licensing exams, plans to make the move in early 2018. Chandra Pemmasani, UWorld CEO, stated "Cypress Waters is the perfect development for us" and "We needed a space that could accommodate our rapid employee growth." Source: Dallas Morning News, September 11, 2017.
HollyFrontier Corp. is expanding Dallas HQ
Fortune 500 energy firm HollyFrontier Corp. is expanding its corporate headquarters at 2828 North Harwood Street in Dallas' Harwood district. The company is set to occupy 90,000 square feet at the tower, where it will expand to four floors in the mixed-use development. More than $3 billion in office, retail and residential development is planned for the district. Source: Dallas Morning News, August 31, 2017.
Plans for new office tower at The Shops at Park Lane accelerated
Given the success of The Shops at Park Lane, plans for a new 11-story office tower have been accelerated. The 340,000-square foot office tower will be located at 8010 Park Lane and will contain ground-floor retail that opens on to a community park. "We believe interest in 8010 Park Lane will be strong, as it's a highly efficient new building that offers walkabillity to affordable restaurants and retail, better amenities, and DART access" says Trey Smith, executive managing director at Cushman & Wakefield's Dallas office. Source: Dallas Business Journal, September 1, 2017.
Retail real estate: Want to test a concept? Come to Dallas
New and innovative retailers
are taking over retail space. Participants at a recent roundtable
explored current trends and weighed in on the Dallas area as a test
market for development and retail offerings. Read why Alan Shor of
Retail Connection LP said "The bottom line, if you can pick a market to
be in, this would be it." Source: Dallas Innovates, September 20, 2017.
Small Business News
Department of Commerce awards $600,000 grant to fuel Dallas Entrepreneur Center
In the startup world, capital can be hard to come by outside of the coasts. But sometimes, the government steps in and gives you a hefty grant to make your city a more entrepreneurial place. At least, that's what happened in Dallas. The Dallas Entrepreneur Center, known around town as The DEC, received a $600,000 grant to provide technical assistance to Southern Dallas businesses. Three new entrepreneur centers will be created, one which will be created in the old Red Bird Mall, currently undergoing a massive redevelopment. It's been estimated that up to 250 jobs and $1.25 million in private investment could be generated as a result. Source: Tech.co, September 11, 2017.
Southern Dallas News
Dallas Mav Seth Curry helps youth in Southern Dallas become entrepreneurial
Dallas Mav Seth Curry recently met with KIPP Destiny Middle School students at the Venture Entrepreneurial Expedition Program in Southern Dallas, where students are taught to think entrepreneurially about business and life. The program includes case studies, interactive business simulations, and personal development activities to help students reach their full potential. Source: SB Nation, September 13, 2017.
UNT Dallas and Eastfield College form partnership
The University of North Texas Dallas and Eastfield College have formed a new program called Dallas Connect. The aim of the program is to improve the odds that students will complete their four-year degrees. Eastfield College students will be able to complete their associate degrees at Eastfield, then transfer to UNT Dallas to complete four-year degrees in criminal justice, business or education. Source: Dallas Morning News, September 23, 2017.
 Economic Review
Dallas-Fort Worth MSA outpaces U.S. GDP growth
 - The Bureau of Economic Analysis states that the Dallas-Fort Worth MSA real (inflation adjusted) GDP grew 3.0 percent in 2016. This is in comparison to 1.5 percent real GDP for the U.S.
- MSA growth was led by information services; construction; and finance, insurance, real estate, rental, and leasing. U.S. growth was led by professional and business services; information services; and finance, insurance, real estate, rental and leasing.
More Dallas Economics
|
