Environmental and Economic Climate: Dallas / Fort Worth

 

Dallas Newcomer and Relocation guide 2013 winterEnvironmental and Economic Climate DFW

Dallas has a moderate year-round climate that allows residents to freely pursue their favorite activities. The daily minimum temperature averages 55 degrees, while the daily maximum temperature averages around 76 degrees. There are fewer than 37 days a year when the temperature is at or below the freezing point. Snowfall in the Dallas area averages only 2.7 inches per year. There are clear skies in Dallas 135 days a year with partly cloudy skies 97 days and cloudy skies 133 days per year.

While enjoying the weather, Dallas-area residents also benefit from a moderate cost of living. For each dollar earner, Dallas residents can but more groceries, larger homes, more goods and services, and enjoy more leisure activities while spending less on taxes than residents of other parts of the country. Specifically, Dallasites pay 22.2 percent less for housing and 4.2 percent less for groceries. According to 2012 figures from Accra Cost of Living Index, overall Dallas’s cost of living is 3.9 percent below the national average.

The economic climate in the DFW Metroplex fosters a diverse, business friendly environment. The area favors entrepreneurs as well as small, medium and large businesses. The following facts can help new comers get a feel for doing business in DFW:

Texas is one of seven states that do not tax individual wage income. Most of the Lone Star State’s tax revenue come from state sales taxes (6.25 percent and a maximum of 2 percent local rate) as well as taxes on businesses and specific industries. Texas does have a property tax, but it’s collected by cities, counties, and school districts and can be used only for local needs.

There are more than 146,000 business establishments in the DFW area and more than 1,500 regional and corporate headquarters operations.

Eighteen Fortune 500 headquarters called DFW home in 2012.

Four Global 500 companies are head quartered in DFW.

The rapid influx of DFW residents has created a very young and diverse population. In 2010, the median age was 33.5 compared to the U.S. average of 37.2. Moreover, in 2010, 27.5 percent of DFW residents were Hispanic compared to 16.3 percent of the total U.S. population.

DFW Claims 25 percent of the state’s population, 29 percent of the labor force, 29 percent of all wage and salary jobs, and it produces a third of the states total product as measured by Gross Domestic Product (GDP). (www.economy.com)

In 2012, three Dallas area cities made Money magazine’s list of “Best Places to Live”: McKinney (#5), Allen (#16), and Rowlett (#24).

With so many diverse neighborhoods, educational opportunities, entertainment outlets, a moderate climate and business-friendly attributes, it’s no wonder the DFW are remains one of the best places in the country to call home. Its charm and appeal are greater now than ever before. 

 

Dallas Newcomer and Relocation Guide
Winter 2013

Volume 69

www.Dallaschamber.com

www.dallasnewcomerrelocationguide.com

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