Dallas keeps hauling in the accolades, this time being named No. 1 on Forbes’ list of Best Cities for Jobs.
Dallas, it seems, reinvents itself almost daily, according to Forbes, which honored the Dallas-Plano-Irving metropolitan area in the list, not the Dallas-Fort Worth-Arlington metro area. The magazine did mention AT&T Stadium in Arlington and the “burgeoning northern suburbs of the posh art district downtown.”
Forbes said that Dallas is, in many ways, the polar opposite of San Francisco and San Jose, California, the metro areas that had dominated the magazine’s list for the past couple years.
Forbes pointed to the diversity of Dallas’ economy as a reason why it surpassed cities that previously topped its list.
Unlike those cities, Forbes pointed to the diversity of Dallas’ economy that touts aerospace and defense, insurance, life sciences, financial services, data processing, and transportation among its core industries. Technology, health care, and energy also are major players in the area.
Over the past five years employment in Dallas has grown 20.3 percent and a strong 4.2 percent last year. And, Forbes cited Southern Methodist University’s Klaus Desmet and Collin Clark who note Dallas appeals to middle-class workers and the companies and executives who employ them rather than the elite “creative class.”
Plus, housing and life essentials are less expensive in Dallas than they are in places like San Francisco and San Jose.
That economic difference was crucial in attracting such relocations as Toyota, Jacobs Engineering, Liberty Mutual, and State Farm to the region, Forbes said.
Forbes assembled its rankings based on short-, medium-, and long-term job creation, dating back to 2005, and whether job growth is slowing or accelerating in the metro area. The magazine looked at the top 70 metro areas in the nation to make its list.
It’s the second time the magazine has put Dallas at the head of one of its lists.
Earlier this year, Forbes put Dallas at the top of its list of “Best Buy Cities: Where to Invest in Housing in 2017.” That list outlines where you could “get the best bang for your housing buck this year.”