By the BF Staff
From the July/August 2018 Issue
Which major city has the most Fortune 1,000 headquarters per capita? Major corporate headquarters looking for talent, access and a desirable cost of living and amenities have found the whole package in a suburban North Texas city.
Irving-Las Colinas, located in the heart of the Dallas/Fort Worth Metroplex, is a true hub for global and North American corporate headquarters. According to the 2018 Fortune magazine listing, six Fortune 500 corporate headquarters and five Fortune 1000 corporate headquarters call Irving home. With a population of 240,000, Irving tops cities including Atlanta, Houston, and Chicago in its concentration of corporate clout. As a result, Irving-Las Colinas is an in-demand location for companies of all sizes looking for the talent and services needed to run their corporate and back office functions.
What’s attracting companies and people to Irving-Las Colinas?
Headquarters location and relocation decisions have their own unique set of site considerations, and Irving-Las Colinas’s advantages are strongly aligned with the today’s key decision drivers.
“After evaluating sites in several locations and states, our executive leadership team felt Irving, TX presented the best location option for many reasons including quality of labor, real estate, logistics and the ability to create a working environment to take advantage of the many attributes found in North Texas,” said J. Hedrick, CEO, Pei Wei.
Here are some of the key attractions:
Talent. Irving-Las Colinas provides access to 3.3 million skilled workers within a 30 minute drive, and benefits from the strength of the Dallas-Fort Worth economy. Texas as a whole has led the U.S. population growth for the last few years, and the Dallas-Fort Worth area has seen the greatest population growth in Texas. In the past 30 years, the Dallas-Fort Worth area has more than doubled. By 2020, the area is predicted to have 1-2 million more residents.
Irving-Las Colinas is particularly proud of its diverse workforce, both in terms of skills sets and population characteristics. Irving’s zip code 75038 is consistently ranked the most diverse code in America. One in three residents was born in another country. This incredible mix of talent is an asset for companies serving an increasingly diverse market in the U.S. and internationally—and makes it easy to recruit millennial and executive talent.
Cost of Doing Business. Irving-Las Colinas is located in one of the most affordable geographic regions in the nation, which employers find is a competitive advantage in keeping labor costs low and recruiting the best workers. Employees enjoy a higher standard of living with lower costs for housing, groceries, transportation and healthcare compared with other major U.S. business centers. Irving housing is more than 24% lower than the national average, and more than 50% lower than many other major metros.
Access to Customers and Suppliers. Irving-Las Colinas offers more than a central location within the U.S., and is strategically located between Dallas Fort Worth International Airport and Dallas Love Field. A quick ten minute drive is all it takes to get from office to terminal. In fact, over a third of DFW Airport—the fourth busiest airport in America—is inside Irving city limits. This proximity allows for same day travel to both coasts, and easy access to direct flights around the globe.
Earlier in this decade, the City launched a major investment in infrastructure improvements, housing, commercial and multi-use development, and built the remarkable Toyota Music Factory entertainment venue with more than a dozen dining amenities along the 125-acre Lake Carolyn and canals with gondolas and Old World charm. These investments ensure that Irving-Las Colinas can deliver the amenities that workers and their families demand.
Irving-Las Colinas’ visionary leadership transformed the City into a 21st century live, work, walk, play, visit community—a masterpiece of planning and design, serviced by buses and light rail transportation. The City is ideal for companies wanting Transit-Oriented Development (TOD) properties that attract and retain skilled workers who want to live and work in a total community with amenities, affordable housing, convenient transportation and educational opportunities.
Learn more about Irving-Las Colinas, Texas at www.irvingchamber.com.