How could this be? Dallas is not a port city. There are no beautiful beaches. It gets hot during the summer. What on earth makes it so desirable?
According to Mayor Tom Leppert, Dallas has a very favorable business climate. There is no corporate income tax and regulations are nominal. That must be appealing to some of the higher-tax states that are being bamboozled by our federal government.
Let us use LeBron James’ current contract and free agency as an example. His current contract pays him $15 million. Now, if he were to take that contract to Dallas instead of New York, he would save himself $2 million. That’s a good deal of cheddar.
Leppert has honed his efforts in on economic development, and he has produced plenty of evidence since becoming mayor in 2007, as reflected by the revitalization of downtown. According to CNN, today Dallas is officially the fastest growing U.S. city.
The fact that one of our nation’s top ten cities is growing faster than any other, amidst our current economic state, goes to show just how resilient Dallas is. Not that Dallas is immune to an economic downturn, but right now the potential for development is there and people are not standing around with their hands in their pockets.
Thousands of jobs have been created because of the city’s Trinity River Project. The project will do much more than enhance the skyline and provide jobs to people in need. It will give Dallas the second largest urban park in the nation, ball fields, lakes and trails that are all in the heart of downtown.
What you are about to witness, is a public works project transform a city and unite its citizens. While it can be debated that this project is the reason for the city’s growth, it would be hard to argue that the knowledge of what is to come hasn’t played a significant role.
An integral key in helping to drive growth is the area’s main airport, DFW International, which is now the third busiest in the nation. The airport serves as a modern day ‘port,’ if you will.
What the city has been missing in the past is a vibrant downtown, which is now beginning to develop. Some recent improvements include a new arts center, a light rail system, new downtown housing, trolley restoration and the best shopping in the southwest.
With a more energetic feel and more active nightlife, Dallas has the looks of a city with all the right moves. If you’re living in Dallas, buy into the idea that your stock is going up.