According to Fortune Magazine, the state of Texas is home to the fastest growing Fortune 500 companies in America. In 2014, annual revenue rankings indicated that Texas is the only state that is home to three of the top 10 Fortune 500 companies. In total, there are 52 Fortune 500 companies that are Texas-based, which is second to New York and California, who have 54 each.  Even further, the Dallas Fort Worth area is home to 18 of those 54 companies, and growing.

Forbes Magazine reported that Dallas saw a 2.1% job growth last year and is projected to continue adding jobs at a 2.8% rate through 2019. This means there will be a job/population influx of more than 300,000 on top of the 2.1 million that are already in the DFW area.  Despite popular belief, Dallas boasts some of the highest paying jobs in the country with unionized defense manufacturers through powerhouse companies like Bell Helicopter and Lockheed Martin. Bank of America also has roots in the Dallas area and the city is home to large law and accounting firms as well as professionals who serve the energy industry.

The 18 Fortune 500 Companies based in the DFW area include:  Exxon Mobil, AT&T, Fluor, AMR, Kimberly-Clark, HollyFrontier, Energy Transfer Equality, Southwest Airelines, J.C. Penney, Dean Foods, Texas Instruments, Tenet Healthcare, GameStop, Commercial Metals, Celanese, Dr. Pepper Snapple Group, Energy Future Holdings, and MetroPCS Communications.

At the end of April, Toyota began moving its headquarters from Southern California to neighboring Dallas city, Plano, bringing with it 4,000 employees from sales, marketing, engineering, manufacturing and finance. According to accounting firm Grant Thornton, the automaker’s move will have a $7.2 billion economic impact on the city over the next ten years. From taxes to job creation, the city of Dallas will benefit immensely. The city will likely see similar big companies following in Toyota’s footsteps. It is rumored that key companies such as Charles Schwab and AIG are both considering major moves to the city.

There is no denying that Texas is the place to be for prospective job seekers and businesses looking to achieve tremendous financial growth. The state added 310,000 jobs in the 12 months ending in March, with an unemployment rate of 5.5 percent.  More than 113,000 people moved to the Lone Star State in 2013 alone. When it comes to population expansion, Dallas Fort Worth ranked 4th in the nation last year with a growth rate of about 2%. In the past 30 years, the Dallas Fort Worth population has more than doubled in size, and studies show that by 2020, Dallas will employ and be home to up to 6 million residents.

Dallas is also home to a mobile workforce and many consultants who stay in town for months at a time on professional engagements. If you need Dallas corporate housing for your stay, do contact us today!