Doing Business in Dallas
The City of Dallas is known for many things, from the home of the Cowboys, affectionally referred to as America’s team, to Big Tex who welcomes visitors to the Texas State Fair. While it certainly has a lot to offer tourists, even more, is available for companies in the metroplex. Many are surprised to learn that the total workforce is just over 3.7M people. It should come as no surprise that Dallas is home to 22 Fortune 500 companies and over 250 corporate headquarters across various industries. Of Forbes’s largest privately held companies list, 8 companies are in the Dallas area. Despite the popularity of the metroplex, there are many variables to consider. To help business owners and managers, a brief overview of doing business in the city is outlined below.
Dallas Economic Profile
The city’s economy is composed of a diverse mix of small businesses to large Fortune 500 and publicly traded entities. There are more than 65,000 businesses in Dallas featuring a job rate gain of 5.6% (well above the national average of 4.1%). The top industries by employment gains include professional services, transportation, leisure/hospitality, education, health services, and manufacturing. The top 2021 exports produced in Dallas include machines and apparatuses, integrated electrical circuits, aircraft parts, and communication equipment. Top export partners include South Korea, Taiwan, China, Japan, and the Netherlands.
Dallas Business Incentives
Beyond the state incentives, there are also several financing, loan, and tax incentives available to metroplex businesses. Eligibility depends on the industry served, certain hiring practices, or targeted investments. The programs include the Property Assessed Clean Energy, South Dallas Opportunity Fund, Neighborhood Empowerment Zones, and Opportunity Zones. The city also hosts several workforce development programs.
Dallas Business Resources
- Business Registration – City of Dallas
- Cybersecurity Consulting
- Corporate Restructuring
- COVID-19 Guidance for Employers – Dallas County
- Dallas Regional Chamber
- Federal Reserve Bank of Dallas
- Mayor’s Startup Package
- Small Business Administration – Dallas
- Small Business Center – Dallas
- Tax Consulting
Interesting Facts About Dallas
- Both the integrated computer chip and the frozen margarita machine were invented in Dallas.
- Dallas Fort Worth (DFW) is the third largest and third busiest airport in the U.S.
- The Dallas Zoo originally opened with a population of four animals.
- The first convenience store, 7-11, open its first location in Dallas.
There are many advantages to doing business here. If you have questions about a specific issue or simply need assistance with accounting, compliance, or cybersecurity issue, Calvetti Ferguson can help. For additional information, click here to contact us. We look forward to speaking with you soon.