Dallas-Fort Worth kicked off the 21st century in full force. Similar to other major metro areas, most large cities in the US can barely keep up with the growth rate of the DFW area.
Between 2000 and 2014, it achieved a higher population growth compared to many other cities in America. Also, its GDP per-capita growth has outpaced that of other cities by far.
DFW also houses top players in the telecom, manufacturing, and financial services sectors. Here you’ll find the likes of AT&T, Samsung Telecommunications America, Texas Instruments, Ericsson, American Airlines, Nokia, and many others.
The industrial development of Dallas-Fort Worth isn’t just about the numbers. In fact, it is more about the strength of its qualitative growth. The DFW area is one of the top four metropolitan areas in the United States.
The metro area never misses out on the rankings of the most preferred destinations for facilities expansion and corporate relocations. DFW has taken advantage of its efficient transport infrastructure and central location to become a crucial player in the commercial industry.
Dallas-Fort Worth is now among the top 3 destinations for industrial development, taking its place as one of the metro areas with a very dynamic economy in the US. There are lots of reports supporting the economic prowess of DFW. Here’s one from the Walton Family Foundation, a report that ranks Dallas at number 27 on the list of the most dynamic metro areas.
The level of interest for logistics and industrial properties in DFW has grown dramatically. This time, interested investors do not come only from the US but also come from other international locations like Europe, Asia, and the Middle East.
Different sources of capital are continuously being invested into around the Dallas-Fort Worth area for many reasons.
Some of these include:
Dallas-Fort Worth has transformed into an environment that supports asset appreciation in the long-term. Similar to what is obtainable in the whole of Texas, Dallas is recovering faster from the economic troubles in the United States when compared with many other cities.
Even when the overall outlook seemed grim, the metro area continues to grow thanks to the advancements and accomplishments of medicine, business, tech, and energy companies. These sectors ensure that growing industries never lack their needs.
In Texas as a whole, the construction industry continues to experience one of the fastest growth rates. The industry employs hundreds of thousands of people, and the creation of steel buildings in Texas is one of the sub-industries currently driving so much of this growth. The volume of multifamily housing starts and permits already outpace those of single-family. The trend of commercial construction is also positive.
According to local and state authorities, DFW is estimated to reach more than 10 million residents by 2040. All indicators point to DFW as being a candidate for what could likely be the next great US metropolis.
The construction industry will continue to play an important role as the state recovers from the economic recessions that occurred in 2008 and Q1 of 2020. Building activity will trigger economic activity in different industries.
As Dallas-Fort Worth continues its march towards industrial redevelopment, the construction industry will have to draw on some of its best materials to meet the needs of an ever-growing population. Steel is proving to be a top choice again and again.
Structural steel is highly preferred among engineers, architects, and other professionals in the construction industry—and for a good reason. As the demand for steel continues to grow, we at Capital Steel Industries play an active role in meeting those needs. We are a coalition of local steel building dealers and contractors who are trained and certified to deliver steel building kits that consistently exceed expectations.
Get more information about ongoing opportunities for local contractors and construction companies.