Regional Review: Dallas–Fort Worth maintains momentum across diverse industries
Writer: Andrea Teran
Regional Review is a year-end series from Capital Analytics that looks at key developments throughout the year and sets the stage for what’s to come in the near term.
December 2024 — The Dallas–Fort Worth (DFW) metropolitan area, one of the fastest-growing regions in the United States, remains a powerhouse of economic activity in 2024. Fueled by a diverse set of industries, the region has demonstrated resilience, adaptability, and growth despite national economic headwinds.
The financial services sector cemented DFW’s status as a burgeoning hub, drawing significant corporate investments. Goldman Sachs progressed with its $500 million office tower project, while Charles Schwab and Wells Fargo are also expanding operating space. These developments underscored the metroplex’s competitive advantage: a pro-business environment, affordable living costs compared to coastal cities, and access to a deep talent pool. The financial services workforce in Texas has more than doubled over the last two decades, outpacing national trends.
“Financial services are a big focus for us, with companies like Goldman Sachs and others based in downtown Dallas,” said Linda McMahon, CEO of the Dallas Economic Development Corporation to Invest:. “There’s even talk of Dallas becoming the “capital of capital,” and I think we have a real opportunity to build on that with the presence of major financial firms and the upcoming Texas Stock Exchange.”
The real estate market in Dallas–Fort Worth is also robust, earning its position as the top U.S. metropolitan area for real estate investment, according to the Emerging Trends in Real Estate® report by the Urban Land Institute (ULI) and PwC. The metroplex’s ascent to the top spot underscores its strong fundamentals, including sustained population growth, economic diversification, and high demand across key sectors such as logistics, housing, and commercial space.
“During tough economic times, Dallas doesn’t seem to struggle quite as much as the rest of the country. I believe this is due to its diversity and the business-friendly climate in the surrounding region. If one area isn’t welcoming to a developer, businesses can easily move to neighboring municipalities in the region that will welcome them with open arms. The size and diversity allows for a favorable place to do business,” stated Will Hodges, president of Cadence McShane, during an interview with Invest:.
While migration patterns are moderating, DFW’s exceptional quality of life, coupled with its relatively affordable median home price — currently just below $400,000 — continues to be a significant draw for both residents and investors, especially when compared to coastal markets. “Affordability is becoming a concern. Housing prices are increasing, and what was once considered moderately affordable is now edging into the unaffordable range,” commented Phill Geheb, senior vice president at Matthews Southwest, to Invest:. “This issue will be a key driver over the next decade. Five years ago, we wouldn’t have predicted this challenge, but it’s now something we have to address to ensure people feel comfortable investing their lives here.”
The region is rapidly expanding its footprint in healthcare and biomedical sectors reinforcing its reputation as a critical hub for life sciences and advanced medical care. Highlighting this growth is the $5 billion pediatric campus being developed by Children’s Health and UT Southwestern Medical Center in Dallas’ Medical District. Spanning more than 20 acres, the facility will include two 12-story towers and one eight-story tower, increasing capacity to 552 beds and significantly enhancing emergency, surgical, and specialized pediatric services.
Additionally, DFW’s biomedical sector is emerging as a national force, with the area recognized as a top life sciences market. Pegasus Park in Dallas has become a hub for biotech activity, offering state-of-the-art facilities like the 135,000-square-foot Bridge Labs and the BioLabs incubator. Once completed, the Pegasus Park development is projected to generate $1.9 billion in annual economic output and create over 15,000 jobs. Plano’s $4 billion Texas Research Quarter further boosts the region’s reputation, aiming to create 30,000 high-paying jobs and attract biotech companies from hubs like Boston and San Francisco.
“North Texas offers a unique combination of factors that make it ideal for a thriving biotech ecosystem,” Gabby Everett, site head and director of business operations and strategy of BioLabs, shared with Invest:. “North Texas is home to six Tier 1 research centers producing world-class science and technologies, which naturally fuel the growth of startups. This region also boasts one of the top technical workforces in the country, ensuring a steady pipeline of skilled professionals for the biotech industry. Additionally, while funding in North Texas has traditionally focused on real estate and energy, we are witnessing a shift toward healthcare and biotechnology investment, opening new opportunities for growth.”
Dallas Fort Worth International Airport continues to be a critical gateway, undergoing a $2 billion terminal expansion aimed at adding new gates and enhancing facilities for international travelers. Airlines are capitalizing on rising demand, with carriers such as American Airlines announcing new direct flights from DFW to Venice, Italy, starting in 2025, alongside expanded service to London. These additions restore the airport’s European destinations to pre-pandemic levels, solidifying its position as a leading hub for international travel. Meanwhile, Dallas Love Field is pursuing modernization efforts to accommodate growing passenger volumes while maintaining its 20-gate limit, striking a balance between convenience and increased demand.
On the luxury front, the Metroplex continues to earn acclaim for its high-end accommodations, with six hotels—including the Bowie House in Fort Worth and H´tel Swexan in Dallas— receiving recognition from the Michelin Guide. The PGA of America’s relocation to Frisco has elevated the region’s sports tourism profile, with its headquarters now serving as a venue for world-class golf events. Adding to the region’s appeal are upcoming attractions such as the $220 million Sunset Amphitheater in McKinney and the highly anticipated Universal Kids Resort in Frisco, both set to debut in 2026, which are expected to draw significant crowds. Meanwhile, the area is preparing to host the most FIFA World Cup 2026 matches in North America and aims to secure the International Broadcast Center, further solidifying DFW’s prominence on the global stage heading into 2025 and beyond.
Marla Roe, executive director of Visit Frisco, shared her excitement about upcoming events and developments during an interview with Invest:. “The Academy of Country Music Awards is returning next year, and in 2025, they’ll celebrate their 60th anniversary, bringing extensive media coverage and attention to Frisco. We also have the KPMG Women’s PGA Championship next year, and Universal Kids Resort is set to open in 2026.” Roe added, “The whole metroplex is gearing up for the World Cup, which is going to be massive, it’s like hosting nine Super Bowls in a short timeframe.”
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