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The main cause of Dallas’ huge popularity in both commercial properties and housing is that people are always relocating there over the past few years. It is very much a double edged sword for Dallas, as people move here because of the booming industries and financial opportunities, but in turn they make the city even more prosperous. New businesses, up to dozens on any given day, are looking for offices to set up shop, as well as other commercial properties – there are even fortune 500 companies moving to Dallas right now.
There is a very diverse atmosphere in Dallas for businesses, and one of the leading companies in the fold here is in the technology industry. A recent study taken by the Greater Dallas Chamber of Commerce reported findings that the city was home to 43% of all the high tech employees in the entire state. There are also thirteen companies, all of which are owned privately, that currently have a net worth greater than $1 billion operating within Dallas, including Southwest Airlines, Dean Foods and Exxon Mobil.
There are some people who now refer to Dallas as the “Silicon Prairie” due to it’s large number of employment opportunities in high tech fields, and it should be noted that this nickname is entirely unrelated to plastic surgery, despite what first impressions upon hearing the name might lead one to believe. Alcatel and Ericsson are both good examples of large telecommunications companies that call the city of Dallas home. As a leader of industry for technology, food products and chemicals it is an incredibly popular location among professions in any given highly progressive field of business.??The city of Dallas has one of the best, thriving economies in the entire country. People who relocate to the city can find a higher rate of pay and better employment then in other cities in the United States. This is because there is more competition between employers in Dallas. Dallas homes for sale and new construction projects have increased dramatically as the demand for residential and commercial property has increased triple-fold.
Because the city has one of the most thriving and stable economies within the whole of America, people regularly relocate here to get a larger pay check and find work more easily – the median rate of pay is better here than anywhere else in the country. This is largely due to the fact that there is a lot of competition between companies here when it comes to attracting quality employees. Thanks to the massive influx of new residents housing construction here has boomed.??New Incentive Programs
One of the other big draws of Dallas are the incentives offered by the local government to the cities inhabitants, including an incentive called “Tax Increment Finance Districts”, which is an area made in hopes of making it less costly for developers and investors alike to redevelop and improve certain commercial buildings already in existence.
Another recent incentive to be seen implemented in Dallas is for projects in what is known as the “Enterprise Zone” – projects that qualify receive a much lower state sales tax than usual, as well as possible tax refunds when buying machines, building materials or other work related equipment. There is a program designed for development projects, by the same name, which are going to create roughly 80,000 new jobs over the coming ten years.??Lastly there is the Job Training Program, which is available for people in different fields who wish to retrain for careers in move financially successful industries, of which the local government provides several different options for.
Over the next twenty years it is predicted that the Dallas economy will grow, making now the ideal time to buy up commercial real estate in the city. As far as real estate or relocation options go, Dallas is the best in both worlds – buying now as an investor will guarantee you a solid return, while relocating there while prices are not yet sky high ensures you can buy a reasonable affordable new home.