There are three particular economic strengths that this region is known for in the global economy: logistics and trade, technology, advanced services These three sectors happen to be the engines of globalizationLogistics and Trade—means and methods of moving people and things around the globeTechnology – in addition to transportation technology, provides information and communication technologies that allow dispersed operationsAdvanced Services—provide management and control of far-flung operations These core strengths get DFW the opportunity to compete in the global economy but the next generation of success requires much more.
A total of 20 benchmark metros were identified for comparison with DFW from Australia, Asia, Europe, North and South AmericaThe selection criteria include national standings, global rankings in advanced services, presence of global airports, ability to attract workers, and existing relationships with DFW.The benchmarks range from Tokyo with 36 million residents, according to UN definitions of urban agglomerations, to Amsterdam with a population of 1 million. DFW is one of the smaller metros on this list with fewer than 5 million residents based upon the UN’s density standards. All of the leading global metros are included: Tokyo, London, New York, Paris, etc. , as well as a wide swath of second-tier all the way to emerging metros worldwide.
The DFW region ranks in the top 10 global metros based upon a composite measure of the five key areas. DFW’s core strength within the US also shines on the global stage: Business Climate. In this one area the region ranks 2nd, tied with Atlanta and outpaced only by Singapore. As shown in the break out data, DFW performs well on all of the indicators for Business Climate but most especially in terms of costs, by any number of measures.The region also scores especially well in Quality of Life. Costs give the region particular advantages here too. But, with a nearly equally high income per capita—the region has a particularly strong case for households.DFW ranks 10th in Access and Resources. Given the critical importance of access to this region’s well-being, we would hope for a better showing here and will likely want to dig a little deeper. One of the interesting facts is that while we celebrate DFW International Airport and all of its importance in this region, we noticed that many of our competitors (especially in the top tier) have two DFW’s!Talent is the only area that DFW falls below the top 10 to take 11th position. DFW does not fall below 12th position on any one indicator, but had a majority of scores of 11th of 12th and none in the top 5. This area warrants further study to identify specific areas for improvement.
The Texas Difference<br />Housing<br />Energy<br />Exports<br />Defense<br />Population<br />& <br />Wealth: <br />Creation v Losses<br />
Key Sectors<br />The outlook for most U.S. regions in 2009 is grim; employment will fall in all 50 states this year, and no area of the country will escape recession. Next year will look better, as much of the South and West see a return to moderate growth. Tech-producing areas will help lead the way. Centers of international trade and regional distribution and logistics should also stabilize as consumer demand and industrial production begin to rebound.<br />Economy.com<br /> 4/15/09<br />
Global DFW<br />Dallas-Fort Worth (DFW) is one of the spikes in the global economy, claiming the 12th largest metro economy in the world. DFW posts a gross metro product exceeding $300 billion, supported by a local workforce of three million and more than six million residents. <br />