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Regional Chamber Touts Dallas Economic Growth

Business

A shot of the Dallas skyline | Image by The Dallas Regional Chamber

Local business leaders and entrepreneurs gathered in Dallas to highlight the region’s economic development efforts and discuss the trajectory North Texas needs to maximize people’s ability to live, work, and do business there.

The Dallas Regional Chamber (DRC) is a more than 700-member chamber of commerce that represents businesses and institutions in North Texas.

The DRC held its annual meeting on Tuesday, offering key insights into the success of its 2021-23 strategic plan. The DRC’s strategic plan, called “Building Tomorrow Together,” focuses on four key priorities for the Dallas region, including economic development, education and workforce, public policy, and diversity, equity, and inclusion.

Economic development in North Texas has been robust over the last decade and is projected to continue according to the DRC’s 2023 annual report.

Last year, there were 67 corporate relocations spanning 25 communities in the Dallas region, according to the DRC’s 2023 annual report. A breakdown of the 67 corporate relocations by type shows that 17 were office-related, 16 were industrial, 10 were technology-based, and 24 were headquarters. A breakdown by region shows that 17 companies were foreign-based, with most national talent coming from California, Illinois, Florida, and New York.

According to the DRC, Dallas has added 323,000 jobs over the past three years and was ranked No. 1 in job growth among major metros. Prominent corporate relocations include CBRE in 2020, AECOM in 2021, and Caterpillar in 2022.

The DRC launched several initiatives in 2022 and hosted 11 events as part of its wider focus on education and workforce development.

Building on its “Dallas Thrives” initiative and its “Say Yes To Dallas” brand, the DRC launched a marketing campaign focused on raising awareness of educational programs and high-demand career pathways among students, recent graduates, and local job seekers. One of the goals of the campaign is to increase the number of young adults earning a living wage from 25% to 50% by 2040.

Maintaining Dallas’ business-friendly, low-tax, and low-regulation climate starts and stops with public policy. As part of the DRC’s efforts to promote civic engagement, it created a nonpartisan Voter Engagement Toolkit with informational sources such as “Voting 101” and “Civics 101,” as well as a voting calendar.

Using the 88th Texas Legislative Session Agenda as a guide, the DCR developed its own agenda to drive prosperity and encourage economic success in the Dallas region.

“The DRC leads the region’s economic development efforts, so we have a responsibility to ensure that the students of today are prepared for the jobs of tomorrow,” said Dallas Regional Chamber CEO Dale Petroskey in the annual report. “That’s why we work hard every day to strengthen our education system to help create a pipeline of homegrown talent with the skills and training needed to succeed in the future.”

The DRC’s advocacy in 2023 includes preserving the economic success of Texans, investing in Texas’ workforce, supporting a healthy talent pool, and promoting a high quality of life for everyone.

The next DRC event is the 25th Women’s Business Conference scheduled for March 9 at Gilley’s in Dallas.

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