It’s good to be in Texas and especially in North Texas, according to Phil Crone, the executive officer of the Dallas Builders Association. He spoke Wednesday during the Women’s Council of Realtors luncheon and laid out some impressive statistics regarding the Texas economy. Here are some of the numbers and slides he shared with us:
While many other states have been struggling, Texas has continued to experience steady job growth during the 2000s. According to a chart from Economy.com, four Texas cities are listed among the top 15 growth metros in the United States. Houston is second, right under New York, and Dallas is third. Austin and San Antonio also made the list. (Crone says the bar for Austin was mistakenly colored blue instead of green.)
Dallas ranked second behind Houston for job growth in 2015, and Dallas ranked No. 1 for job growth in the first quarter of 2016.
Although North Texas did see a dip in job growth in 2008, the rate has been steadily increasing since 2011. There were 108,700 new jobs added this year and the North Texas economy is forecast to add 112,028 new jobs by the end of 2016.
It helps that we have diverse employers in the Dallas-Fort Worth area.
The population in Collin County has skyrocketed since 1975, hitting 940,000 people this year.
The home building industry has been especially active, Crone says, and he backed his claim with statistics from Meyers Research LLC. In the last 12 months, residents applied for more than 52,000 building permits, which is more than double since 2008 and neck and neck with the rate of building permits issued in 2006.