Dallas Fort Worth Urban Forum

DFW Economy

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Tivo_Kenevil
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Re: DFW Economy

Postby Tivo_Kenevil » 26 Jun 2017 22:34

More impressed by the saturation in the photo

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DPatel304
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Re: DFW Economy

Postby DPatel304 » 26 Jun 2017 22:35

It's certainly a great time to be living in DFW. Our suburbs are certainly top notch, and I'm looking forward to the incredible progress the urban core will inevitably make in the next decade or so.

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I45Tex
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Re: DFW Economy

Postby I45Tex » 28 Jun 2017 06:21

All sorts of inner and outer causes can slowly or suddenly affect how long a growth wave rises before it plateaus or moves elsewhere. What you are left with then gets you through (if you're lucky and prepared to be agile) until something else gives the curve its next upward kick or nudge.

I hope we have indeed reached several interlocking critical degrees of quality and quantity now.

But since this is not the subforum for merely urban development but things broader than that, I'm less sure about that sentence where it applies to our intangible principles and what they enable to take place in DFW.

I seem to sense that a significant part of the spectrum of our homegrown go-getters still like to appear pretty complacent about having the whole world figured out. When we're riding the curve upward we don't ask many basic philosophical questions about our endeavors' worth or our own.

Energy spent on self-examination would be better spent outwardly acquiring more resources, while we can, since if we risk being our own critics, what if we diminished our momentum?
On top of that all-too-human aggression there are at least two other things to compound the unreflective anxiety.
One is some Texas exceptionalism and one is the Northwest Highway center-of-the-world mentality, and while neither may be our biggest challenges anymore, old norms often become deep obstacles again once you *have* advanced further to a certain level. (In the meantime, everybody loves you as long as your star is rising, but when they see you topping out then they start to quit on you. So momentum can become more tactically concerning than substance: a bubble dangerous for one's grip on reality).

I would passionately like to help North Texas accentuate the good of our cultural habits and start to work on the bad in advance of it coming to restrict us from metropolitan national leadership the way Chicago's has. Where would my people be whom I could help do that?

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tamtagon
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Re: DFW Economy

Postby tamtagon » 28 Jun 2017 08:34

^"Texas means 'Friend' -- I think this vocabulary lesson has been used in ad campaigns in the past, but it's back:

https://www.youtube.com/watch?v=AIrECTjxtyc&feature=youtu.be

I've seen this commercial on TV in the Atlanta area. The visuals are nice and the message is mildly compelling, but they totally missed the mark. "Texas means friend" has nothing to do with the typical tourism visuals in the commercial. Although the miss-matched message & visual is pervasive in state tourism ad campaigns. This Texas commercial is just like one I've seen for California.... same regionally derived folk-message dangled out there as an invitation to enjoy the wellness of the message paired with dramatic clips of nature and city. Only reinforcing the intentions and travel plans of people who've already made up their minds, just not saying it out loud.

But the message and invitation to wellness might actually hint to the essence of what you're saying, I45Tex. Jobs and industry are fleeting over a lifetime, not enough to keep any sub-unit of greater culture intact, thriving, appealing and driving outside motivations. Texas Triangle cities, like many in the Sunbelt, have been growing steadily in the air conditioned, automobile world since the 50s; since the 70s the growth has had the volume to open up in each city a tap to spring of site-specific cultural impact, that is, what was going on around town in Dallas began to matter to people living in Waco... same with Birmingham, Memphis, Austin and so on. That's all natural and normal. Culture and civilization is formed within the greatest concentrations of people, and spreads out. This is shown through New York City: it's the capitol, now Los Angeles is, too. Chicago has faded. Dallas, Atlanta, Houston, Miami, Seattle are rising faster than Detroit, Pittsburg, Cleveland, St Louis, Kansas City, Memphis, are fading....

What propels a population center to the forefront of culture building, makes the happenings of a town important well beyond it's region.

ummmm, so the economy of DFW, well that's not necessarily as big a deal unless the population center begins to churn out culture, society appealing across North America. whew! where's this going?!?! ha

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Tivo_Kenevil
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Re: DFW Economy

Postby Tivo_Kenevil » 28 Jun 2017 15:00

DFW can keep the jobs coming all day long but if the cultural aspect of the region, which is birthed in the core, never becomes transcendent then Dallas will always be a 2nd tier city.

Which it always has been.

Nothing particularly wrong with that; it just won't have the appeal of NYC,LA,Chicago, SF ,DC or even Seattle (Potentially..The Next Great Urban American City).

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Cord1936
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Re: DFW Economy

Postby Cord1936 » 28 Jun 2017 17:28

Data Company Bringing 6,300 Jobs To Plano
CBSDFW, June 28, 2017 3:55 PM

AUSTIN (CBSDFW.COM) – NTT DATA Services is officially moving into its new North American headquarters in Plano according to Governor Greg Abbott’s Office Wednesday.

NTT DATA Services is a division of Japan-based NTT DATA Corporation, a top 10 global business and IT services provider with 110,000+ professionals in more than 50 countries, according to the Governor’s Office.

A Texas Enterprise Fund grant offer of $7,500,000 has been extended to NTT DATA for the creation of 6,377 new jobs and a capital investment of more than $28 million, according to the Governor’s Office news release.

Full article: http://dfw.cbslocal.com/2017/06/28/data-company-jobs-plano/

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Re: DFW Economy

Postby Tnexster » 29 Jun 2017 13:02

D-FW apartment leasing at the highest level in more than a decade

https://www.dallasnews.com/business/rea ... vel-decade

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LuvBigD
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Re: DFW Economy

Postby LuvBigD » 29 Jun 2017 17:12

Hey Tivo,

I'm not sure that Chicago has much appeal anymore. For starters, it has been losing population for more than a few years now, it's crime rate is out of control and it's in a state that's about to declare bankruptcy. I know that Dallas is not perfect but those attributes I just mentioned can't really be said about our fine city.

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tamtagon
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Re: DFW Economy

Postby tamtagon » 29 Jun 2017 17:41

...first Detroit, then Chicago?

Breadbasket agricultural product trade flows through Chicago, that's what needs to relocate to Dallas.

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Tivo_Kenevil
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Re: DFW Economy

Postby Tivo_Kenevil » 29 Jun 2017 18:09

LuvBigD wrote:Hey Tivo,

I'm not sure that Chicago has much appeal anymore. For starters, it has been losing population for more than a few years now, it's crime rate is out of control and it's in a state that's about to declare bankruptcy. I know that Dallas is not perfect but those attributes I just mentioned can't really be said about our fine city.


Perhaps. But the appeal of the city is still there. Go to Chicago and you still see tourists left and right.

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Re: DFW Economy

Postby Tnexster » 29 Jun 2017 23:23

The current decline in Illinois and Chicago is probably not going away anytime soon, will speed up the time it takes DFW to take over Chicagoland's number three ranking.

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texasstar
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Re: DFW Economy

Postby texasstar » 30 Jun 2017 19:35

I spent a week in downtown Chicago a couple of years ago. For a "declining" city, it sure looked impressive to me.

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Cord1936
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Re: DFW Economy

Postby Cord1936 » 07 Jul 2017 15:34

Dallas ranks # 10 in the world in number of Ultra-Rich

When you click through the slideshow in this Houston Chronicle article from today it shows Dallas occupying the Number 10 spot in the world in the number of Ultra-Rich that live here, having increased by 5.4% year-over-year.

Pretty heady showing against some of the top cities in the world!

And Dallas ranks fifth in the U.S. in number of Ultra-Rich (behind Washington DC (#8), Chicago (#7), LA (#4), and New York (#1)).

The article is actually about how # 12 Houston is the only major U.S. city with a shrinking Ultra-Rich population, having dropped a negative 3.4% from the previous year. Very indicative of the economic malaise that Houston is suffering from the continued fallout of the oil implosion starting in November 2014.

Houston is the only major U.S. city with shrinking ultrarich population
By Dylan Baddour, Houston Chronicle, Updated 1:57 pm, Friday, July 7, 2017

Article: http://www.chron.com/business/article/H ... to-9444784

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I45Tex
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Re: DFW Economy

Postby I45Tex » 08 Jul 2017 05:38

I can't resist posting this old excerpt:


"Dallas is the City on the Hill of American business. Businessmen built the city and they have always run it. Of all the neat, middle-aged men in blue wool suits driving boxy American cars to glass office buildings off the Dallas Toll Road, Ross Perot is not only the richest, he is the purest of the breed, reminiscent in bearing and speech of the old wildcatters. He is unembarrassed by the sort of rough edges that the Dallas gentry believes it lost years ago. ... Entrepreneurs make poor Hamlets. ... Perot has a firm idea of the way things should be, and frequently money can set things right." :?

David Remnick
April 12, 1987

https://www.washingtonpost.com/archive/lifestyle/magazine/1987/04/12/our-nation-turns-its-lonely-eyes-to-h-ross-perot/daaa9b6a-6767-4ece-9d4c-8ef75861a1dc/?utm_term=.03ef0757ded3

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Re: DFW Economy

Postby Tnexster » 11 Jul 2017 13:24

Texas drops to No. 4 for first time on CNBC's 'Top States for Business' list

https://www.dallasnews.com/business/eco ... iness-list

CNBC used public data and 66 metrics to rank states in 10 categories. Those categories, with Texas' respective rankings and point totals, are:
No. 1 Workforce: (376/425 points)
No. 1 Infrastructure: (251/400 points)
No. 15 Cost of Doing Business: (219/350 points)
No. 25 Economy: (170/300 points)
No. 37 Quality of Life: (127/300 points)
No. 11 Technology & Innovation: (157/225 points)
No. 34 Education: (82/200 points)
No. 24 Business Friendliness: (82/150 points)
No. 3 Access to Capital: (96/100 points)
No. 9 Cost of Living: (42/50 points)

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Cord1936
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Re: DFW Economy

Postby Cord1936 » 15 Jul 2017 19:24

U.S. 500, 2017
The annual report on America’s most valuable brands, March 2017

Full article/pdf: http://brandfinance.com/images/upload/brand_finance_us_500_2017_report_locked.pdf

This is an interesting annual report produced by "BrandFinance" that details the most valuable brands in the United States. Apple, who has been the number one valued brand not only in the U.S. but the world for five years straight, was toppled by Google in 2017.

Dallas places in the top five with locally based AT&T moving up from sixth most valuable brand in the U.S. in 2016 to fourth in 2017!

In so doing AT&T has supplanted Verizon as the most valuable telecom brand. AT&T is the most valuable brand in Texas and, as mentioned, is now number four in the U.S.

Texas ranks third among the 50 States with companies having greatest brand value in the U.S., behind number one California and number two New York. Top 10 companies:

1. Google
2. Apple
3. Amazon
4. AT&T
5. Microsoft
6. Verizon
7. Walmart
8. Facebook
9. Wells Fargo
10. McDonalds

Quote:

"AT&T saw its brand value grow 45% this year to $97 billion, overtaking Verizon as the most valuable telecoms brand. Its growth in both brand value and market share have been underpinned by acquisitions in South America and Mexico in addition to its 2015 takeover of DirecTV. Brand strategy has played a role too. Following the acquisition of DirecTV, it was quick to create an ‘endorsed brand’, inserting its logo and “Now part of the AT&T family” beneath the DirectTV wordmark. It has since moved a step closer to a unified branding, with the AT&T master logo enlarged and the DirecTV wordmark reduced. In addition to creating marketing efficiencies, this channels revenues to the AT&T brand, enhancing value."

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homeworld1031tx
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Re: DFW Economy

Postby homeworld1031tx » 17 Jul 2017 10:48

Mmmm if Wells Fargo is on that list, their methodology must be realllllly messed up.

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tamtagon
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Re: DFW Economy

Postby tamtagon » 17 Jul 2017 11:01

homeworld1031tx wrote:Mmmm if Wells Fargo is on that list, their methodology must be realllllly messed up.


I know that's right!

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Tivo_Kenevil
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Re: DFW Economy

Postby Tivo_Kenevil » 17 Jul 2017 11:57

Surprisingly Tesla is not here.

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Cord1936
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Re: DFW Economy

Postby Cord1936 » 18 Jul 2017 10:49

Talk about a stark contrast in a tale of two cities! This scenario was unthinkable 3 years ago ...

Houston Worst; Dallas First in National Rankings of Office Space Absorption
July 17, 2017 Realty News Report

HOUSTON and DALLAS – Houston has worst office absorption in the nation while Dallas has the best, according to a midyear report by Cushman & Wakefield.

Houston had 1,565,381 million SF of negative net absorption in the first half of 2017, meaning a lot more office space became vacant as Houston energy companies continued to shrink.

Meanwhile, Dallas/Fort Worth had 3 million SF of positive absorption in the first six months of the year. J.C. Penney, Brinker International and Goldman Sachs occupied huge blocks of space this year.

The Cushman & Wakefield research covered 87 markets around the nation.

Showing steady improvement for several consecutive years, the Dallas market had an overall vacancy rate of 16 percent in the second quarter of 2017, Cushman & Wakefield reported. Six years ago, in the second quarter of 2011, the overall vacancy rate was 22 percent.

“We continue to see companies opting to either relocate or concentrate their growth efforts in North Texas often in lieu of expansion in other markets. Companies continue to take advantage of the business attributes of the region, including our strong labor base and business-oriented policies,” said Craig Wilson, executive managing director of Cushman & Wakefield.

Dallas leasing activity for the first six months of 2017 totals about 6.3 million SF.

“In most circumstances, there is strong leasing activity in newly constructed buildings, particularly in the most active markets such as Uptown and the West Plano/Frisco markets,” Wilson said.

The Houston market struggles against an oversupply of office space. More than 11 million SF of sublease space is on the market, a slight improvement over last year, but much worse than normal. The vacancy rate is above 20 percent.

Article: http://realtynewsreport.com/2017/07/17/houston-worst-dallas-first-in-national-rankings-of-office-space-absorption/

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Re: DFW Economy

Postby cowboyeagle05 » 18 Jul 2017 11:05

What I would also look at here is that all three serve certain parts of the housing market better than the others. So the price points are being hit depending on how far, affordable you want along with good school access if you are a family or how close a social scene is if are a single person.

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DPatel304
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Re: DFW Economy

Postby DPatel304 » 18 Jul 2017 11:36

Not good at all for them. I wonder if this will have any impact on the HSR line, because, when it was proposed, Houston and DFW were both two booming cities with a lot of potential.

Tnexster
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Re: DFW Economy

Postby Tnexster » 18 Jul 2017 12:01

Diversification is paying off big time for DFW. As for the HSR line, one would think they could use the investment and development opportunity, but they need to get it into downtown.

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tamtagon
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Re: DFW Economy

Postby tamtagon » 18 Jul 2017 12:35

Seems like each time this has happened in Houston, that economy has emerge a more diversified. There's at least 20 more years of fossil fuel demand, but renewable sources with far less damaging pollution is on track to lead the energy industry through the second half of the first half of the century (HA), so lets hope Houston can make the transition while remaining the Energy Capital of the World.

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Tivo_Kenevil
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Re: DFW Economy

Postby Tivo_Kenevil » 18 Jul 2017 16:20

tamtagon wrote:Seems like each time this has happened in Houston, that economy has emerge a more diversified. There's at least 20 more years of fossil fuel demand, but renewable sources with far less damaging pollution is on track to lead the energy industry through the second half of the first half of the century (HA), so lets hope Houston can make the transition while remaining the Energy Capital of the World.


Clean renewable energy is the future and that won't be centralized somewhere. What will likely happen is that regions will power themselves. We already see this in Scandanavia and Some parts of Latin America.


In the near future energy will not have a World capital. It only does now since fossil fuels are geographically located in certain areas. Countries / Regions don't want to be dependent on someone else for Energy and quite frankly they won't need to be with the Advent of renewable technology..(just wait till better Batteries come along..people will be able to power their own homes!). Houston can be an Energy Capital for the state or some parts of the country (Southwest). But the overarching influence that a single City/Country has on World Energy will be greatly less than what it is today in the future...Perhaps we are starting to see that now.
Last edited by Tivo_Kenevil on 18 Jul 2017 16:49, edited 1 time in total.

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tamtagon
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Re: DFW Economy

Postby tamtagon » 18 Jul 2017 16:47

^They gotta make those batteries somewhere, and if the lithium comes from Bolivia, well just put it on a ship to Houston....

We'll still need jet fuel.

But I know and I agree Houston will need something to make up the difference in the long term decline of fossil fuel.

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Tivo_Kenevil
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Re: DFW Economy

Postby Tivo_Kenevil » 18 Jul 2017 18:12

tamtagon wrote:^They gotta make those batteries somewhere, and if the lithium comes from Bolivia, well just put it on a ship to Houston....

We'll still need jet fuel.

But I know and I agree Houston will need something to make up the difference in the long term decline of fossil fuel.


True... But on a side note, Scientist just figured out how to teleport particles to space this past week! Who knows, maybe rockets will be a thing of the past in the next 50 yrs. LOL

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Re: DFW Economy

Postby Tnexster » 19 Jul 2017 13:46

Oil is already on its downslide, that is becoming more obvious each day. Even the Saudi's have taken notice and are engaged in a major plan to diversify their economy away from oil.

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tamtagon
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Re: DFW Economy

Postby tamtagon » 20 Jul 2017 10:30

The Texas Miracle of low taxes and low regulation has been a public relations and campaign mantra for quite some time; the reality is the state's vast fossil fuel industry has done all the work, bringing home buckets of cash. A more accurate and self-fulfilling reality will play out over the next decades as third world governance of public education threatens the economy.

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Re: DFW Economy

Postby tamtagon » 21 Jul 2017 10:14

Pollution, Public Education, Infrastructure... these three cover an enormous void in state leadership, an intentional avoidance by the political stewards of the future.

Say what you want about climate change and role of the state's #1 product, the indisputable truth is burning fossil fuels make the air in the cities dangerous. Every summer the upper Gulf Coast suffers through a dead zone. Thousands of gallons of carcinogenic water are pumped deep into the limestone no one really knowing what happens to it after that.

Too many kids start school but do not graduate high school; literacy is below average among HS graduates. Teen pregnancy in Texas occurs as frequently as in undeveloped countries. A strong political movement continues to divert state funds away from public school in order to boast of Low State Taxes!!!! All that does is force up the local tax.... All the while this political movement intends to make state funds available to help pay for private school ---- that's the opposite way to help solve the problems. Bi-lingual public education should be mandatory and the schools with the most at-risk students should get the most of everything. Public education must extend to free evening classes teaching English to adults.

Highways are critical for trade and traveling between cities. The ideal/notion of a Trans-Texas Corridor, tragically proposed by Rick Perry, is a critical need for the future of the state. HSR between Dallas and Houston is a start, but the I-35 corridor from Monterrey to Oklahoma City is a more important route. Port of Houston is a fantastic deal, but could be put out of commission for months by one hurricane.

State leaders are not doing anything substantive to address the three most important roles of government; they are concerned about where people go to the bathroom? whether or not cities can regulate the use of plastic bags, tree cutting?!?! WHAT These politicians are derelict.

While the world is still using fossil fuels, a NEW TAX should be put on fossil fuels coming out of Texas. It wont have to be such a big tax to generate billions, and the money goes to fight pollution, teach children and young adults and build better transportation.

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muncien
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Re: DFW Economy

Postby muncien » 21 Jul 2017 10:40

Fossil Fuels will die a slow death, but not because of shortages (sheesh, remember the 80's?), and not because of the environment scare tactics (most Americans simply don't care about something they can't see obviously). Regulation can work to an extent, but probably isn't the best way.
It's usage will come to an end simply for being an inferior product. The mechanism managing thousands of tiny explosions via hundreds of moving parts rubbing up against each other constantly (the internal combustion engine) is quickly becoming a relic. Performance and maintenance of simple electric motors are hands down a better driving experiences. As costs, electricity storage and charging times improve, there will simply be zero reason to have an ICE. It won't happen over night, but it's taking hold fairly quickly. Much quicker than shaming people with the thought of dying polar bears. At least that's been my observation lately. Works for me...

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Re: DFW Economy

Postby Tnexster » 21 Jul 2017 11:58

Gap between Dallas, Fort Worth widens with varying degrees of real estate performance

https://www.bizjournals.com/dallas/news ... idens.html

Part of the reason behind the widening gap between Dallas and Fort Worth has to do with the growing diversification of industries clustered in the greater Dallas metro. From Toyota North America's new headquarters to J.P. Morgan Chase & Co.'s new regional campus to State Farm Insurance's new hub in Richardson, Dallas is getting to be quite diverse with a Big D.

"Dallas, which was once part of the Texas energy story, has come a long way, which has enabled the economy to grow strongly and avoid the negative impacts the oil industry has had on other parts of Texas," Muoio told me. "Fort Worth, like Houston, isn't as diversified and the economy isn't moving as robustly as the Dallas economy."

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Cord1936
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Re: DFW Economy

Postby Cord1936 » 27 Jul 2017 16:37

Ft. Worth can use some good news on the jobs front!

General Electric to move up to 225 locomotive production jobs to Fort Worth from Erie, Pa.
Tracy M. Cook, Business Reporter, Dallas Morning News, 07-27-17

Article: https://www.dallasnews.com/business/jobs/2017/07/27/general-electric-move-locomotive-production-jobs-fort-worth-erie-pa

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Re: DFW Economy

Postby Tnexster » 28 Jul 2017 18:46

^Many people speculated that this move would eventually take place when this plan was proposed years ago. What's the main difference between Erie and Fort Worth? No union.

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Re: DFW Economy

Postby tamtagon » 30 Jul 2017 09:46

Tnexster wrote:^Many people speculated that this move would eventually take place when this plan was proposed years ago. What's the main difference between Erie and Fort Worth? No union.


Wouldn't it be nice to have union and management work on the same side and toward the same goal. I guess at lease since slavery was abolished, a curious and unfortunate ebb and flow of right and wrong found generations of increasingly coercive, brutal management met, balanced and replaced by generations workers' rights and protections which perverted by the same mutable human nature to inhibit productive management... There's a balance between enriching stockholders and paying workers, but that sweet spot is so elusive, impossible to achieve when it Management Versus Labor. Wondrous things happen sometimes, wouldn't it be nice if some sort of Labor-Management accord emerged in Texas putting in place a longer lasting positive and productive system led by both. Anyway...

Fuel/Energy has been the mainstay of the Texas economy for a hundred years since Spindle top came in. This article indicates affordable electricity is a primary reason North Texas has become a Data Center powerhouse:

https://www.dallasnews.com/business/economic-snapshot/2017/07/28/data-ing-game

One of the reasons North Texas is so attractive for data centers is its relatively low energy costs — and over the last four years, those costs have been declining, according to a 2016 JLL report.


We've heard for no less than a decade about the potential of Texas wind energy, and we've seen some impact already. Pairing the daytime solar potential with the nighttime wind potential could probably provide all the electricity the state needs; on-demand fossil fuel generating potential should maintain the state's influence of the electricity & power potential export industry.

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Re: DFW Economy

Postby Tnexster » 01 Aug 2017 15:40

Dallas-Fort Worth’s technology ‘brain gain’

https://www.bizjournals.com/dallas/news ... -gain.html

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Re: DFW Economy

Postby Tnexster » 10 Aug 2017 16:45

How Downtown Fort Worth’s Office Oversupply Could Help It Lure Big Tenants

https://www.bisnow.com/dallas-ft-worth/ ... ants-76493

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tamtagon
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Re: DFW Economy

Postby tamtagon » 13 Aug 2017 10:54

^That's an oddly optimistic article coming out of Fort Worth, forced optimism if you ask me. Two homegrown companies, made it big, then got moved out of town.

Any economist would say that is a bad thing. But those who know the (8.4M SF) submarket best think the oversupply could help it finally lure some big tenants and corporate relocations that keep choosing the North Dallas suburbs ... Downtown Fort Worth still has around 1M SF to fill. “Availability of space was our first problem. We simply didn’t have the number of contiguous floors. Now we need to remind the world that we’re here,” Taft said.


Well, frankly, the lack of large contiguous floorspace is just the cover for the real reason DTFW office market has barely changed in a generation: those in charge didn't really want it to change. Now, in a huge place like North Texas, there's something totally reassuring about the big neighborhood DTFW changing very little. Predictable, consistent and a nice place to visit.

Instead of building a bigger downtown, Fort Worth built a new airport. The exceptionally successful focus coming out of Alliance Texas brought an amount of growth equivalent to anywhere else. Certainly, though, the cargo airport (made possible by NAFTA) has done little to build a larger downtown scene.

The Fort Worth Forum has thread considering tourism as the growth industry for Downtown Fort Worth, a good exchange over there.

In the meantime relocations and consolidations have started what might actually be a trend of corporate HQ's moving back into Dallas:

Jacobs Engineering (#259 on Fortune 500) moved to the Dallas CBD last year, and through acquisition is getting even bigger.

And then it pops up that there's big industry consolidation creating corporations that own/operate rent houses. This merger puts together a company with $10 billion annual revenue.

How Dallas became the center of the rental home universe in one phone call

Wire Services
https://www.dallasnews.com/business/rea ... phone-call

...The companies announced the $4.3 billion merger Thursday, with the combined company keeping the Invitation Homes name and basing itself out of Dallas. It came after months sorting out the details, creating the largest U.S. single-family landlord with 82,000 homes across the country....


For now, Invitation homes headquarter is a couple blocks from Jacobs Engineering in the Dallas Central Business District.

Biggest of all, ATT continues getting bigger and bigger and bigger. One of the most valuable companies in the world, expanding it's hometown footprint to include the whole continent. Doubling down and building a new downtown plaza.

Downtown Dallas, unlike Downtown Fort Worth is growing a place for corporate global decision makers.

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Cord1936
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Re: DFW Economy

Postby Cord1936 » 13 Aug 2017 15:20

^^^^^^^
Excellent synopsis!

In reality Ft. Worth is basically just another suburb of Dallas ... a larger one that is for sure due to it also functioning as a less expensive quasi-bedroom community to the west of Dallas, but essentially it is just another one of our suburbs that radiates from the central growth engine for the region - Dallas.

Heck, one Downtown Dallas district - Uptown - has more office space than all of Downtown Ft. Worth!

According to the most recent Transwestern office report Uptown has 13,593,997 msf of existing office space + 1,295,323 msf under construction for a total of 14,889,320 msf.

Downtown Ft. Worth has 11,299,975 msf of existing office space + 280,489 msf under construction for a total of 11,580,464 msf.

Downtown Dallas (CBD + Uptown) has 46,524,553 msf of existing office space + 1,648,960 msf under construction for a total of 48,173,513 msf.

Downtown Ft. Worth is not only smaller than Uptown in office space but is less then 1/4th the size of Downtown Dallas (CBD + Uptown).

Another interesting way of looking at it is that Downtown Dallas (CBD + Uptown) is almost as large as the ENTIRE Ft. Worth office market ... Downtown Dallas at 48,173,513 vs. the ENTIRE Ft. Worth office market at 52,945,868.

That pretty much sums up the situation!

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tamtagon
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Re: DFW Economy

Postby tamtagon » 13 Aug 2017 16:53

As far as office employment goes, the greater Fort Worth downtown stasis deserves the suburb-submarket label, however, only downtown Dallas packs a bigger cultural punch.

Arlington and the stadiums, Plano/Frisco easily surpassing Fort Worth office space moving to challenge Las Colinas which also continues to grow... none of the suburbs or satellite cities come close to cultural institutions present in Fort Worth; most don't even have much beyond libraries and city parks.

Kimbell Art Museum, Modern Art Museum, Amon Carter Museum of American Art these three museums exist together on the world stage. Fort Worth Museum of Science and Nature is impressive. The Fort Worth Zoo and Botanical Gardens are major cultural institutions. Stock Yards counts for "a lot" and the Livestock Show is on an upward trend with new arena....

So, even though as an office location, greater Downtown Fort Worth continues to slip down the suburban pecking order, it's position as cultural focal point and destination is unchallenged by other suburbs and satellite cities.

... and yes, compared to Dallas today, Fort Worth is struggling to keep up. If Dallas City Council continues to get it's act together, Fair Park will come into play giving East & South Dallas clout, destination regard along the lines of somewhere found in New York or Chicago or Los Angeles or San Francisco.

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Tucy
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Re: DFW Economy

Postby Tucy » 15 Aug 2017 08:58

tamtagon wrote:^That's an oddly optimistic article coming out of Fort Worth, forced optimism if you ask me. Two homegrown companies, made it big, then got moved out of town.

Any economist would say that is a bad thing. But those who know the (8.4M SF) submarket best think the oversupply could help it finally lure some big tenants and corporate relocations that keep choosing the North Dallas suburbs ... Downtown Fort Worth still has around 1M SF to fill. “Availability of space was our first problem. We simply didn’t have the number of contiguous floors. Now we need to remind the world that we’re here,” Taft said.


Well, frankly, the lack of large contiguous floorspace is just the cover for the real reason DTFW office market has barely changed in a generation: those in charge didn't really want it to change.


Downtown Dallas boosters have made the exact same argument many times over the years. Steve Brown does a reprise today with respect to the overall DFW office market and its projected return to 20%+ vacancy rates. Forced optimism?


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