Competition Heats Up

  • 07 Feb 2018

In the previous article, I outlined the Top 5 Tech Talent Trends for 2018. This article digs deeper into the trend #1 – North Texas attracts employers with voracious appetites for IT Talent

Competition Heats Up in North Texas

Among the dozen largest metropolitan areas in the U.S., Dallas had both the highest job growth rate and the most jobs added from November 2016 to November 2017, according to the Dallas Business Journal.

In the Dallas-Fort Worth region, 117,000 jobs (annualized) were created from 2015 to 2016, the second-highest in the country after New York City.

Here’s how Dallas-Fort Worth compares to the other large metropolitan areas measured.

Business-friendly regulations and an increasingly desirable location in the center of the country (Dallas-Fort Worth is arguably one of the best airports with access to anywhere in the world) have enticed companies from Jamba to JP Morgan Chase to stake their claim in the Lone Star State.

“Texas is emerging as a hotspot for businesses. That’s down to many factors, the biggest of which is the cost of homes, construction, labor, and taxes. These are significantly lower in Texas than in other major cities such as Chicago, Los Angeles or New York City,” says Jeff Staubach, JLL President, South Central Region.

The last two years alone have seen FedEx and JP Morgan Chase moving into Plano’s Legacy West, a $3 billion, 250-acre business and lifestyle development, with Liberty Mutual InsuranceState Farm and Toyota nearby. By early 2018, the corporation line-up in Plano will include mortgage giant Fannie Mae.

More Fortune 1000 companies have made the Lone Star state their corporate homes. The largest businesses moving to the North Dallas area over the past few years include, but aren’t limited to:

CityLine in Richardson, Texas

  • State Farm – At the end of 2013 ground was broken on a new regional hub in Richardson, Texas. The large relocation included a move of more than 8,000 current employees from across Texas as well as other states. The brand new campus included 4 buildings accounting for over 500,000 square feet of office space and a 5-story parking garage. The facility was not complete until 2015 and expansion continues even into 2018.
  • Raytheon on CityLine adjacent to the State Farm high rise campus. It is estimated that 1,700 new jobs were brought to the area from Garland, Texas.
  • Geico Insurance – A 233,000-square-foot, two-building office redevelopment was undertaken on Greenville Avenue in Richardson. The insurance company converted a former warehouse and office building into a regional campus for 1,600 workers to move into.

Legacy – 121 Corridor, Plano

  • In early 2017 Toyota consolidated its California, New York, and Kentucky offices into a new North American headquarters after a $1 billion relocation to Plano, twenty miles northeast of downtown Dallas. The 2 million square foot campus brought roughly 4,000 jobs and $350 million in investments.
  • Liberty Mutual – The insurer is building a 1M SF campus at Legacy off 121 with an estimated cost of $325M designed to accommodate 4,000 employees.
  • Creston Electronics – Hundreds of new employees will be moving into the 121 Legacy area when the new Legacy Tower building is completed by Trammell Crow and Principal Financial Group. The company plans to expand its workforce and signed a new 85k SF lease in anticipation.
  • Capital One – The seventh building in Capital One’s Plano regional campus is under construction. The 205,000-square-foot building on Dominion Parkway will house 1,000 to 1,200 employees when it opens in 2017.

Allen, TX

  • MonkeySports, Inc – The California-based online retailer of hockey and lacrosse equipment relocated its headquarters and warehouse distribution to Allen, Texas which is also considered to be in the North Dallas area off Highway 75.
  • CVE Technology Group, Inc., an after-market service provider for cellular handsets and consumer electronics, recently relocated its New Jersey headquarters to Allen, Texas.
  • CyrusOne Data company recently purchased 66 acres of land to support an expected $1 billion data campus in Allen in the coming years.

McKinney Area

  • China-based Hisun Motors – The maker of utility-terrain vehicles and all-terrain vehicles opened it’s new North American headquarters in McKinney, where it will ultimately employ 80 new corporate workers.
  • Emerson Process Management opened a new Regulator Technologies global headquarters off U.S. Highway 75 in McKinney, Texas.
  • Raytheon in 2013 moved its Space and Airborne Systems national headquarters from California to a McKinney facility off U.S. Highway 380

As a result of these very large concentrations of jobs moving into the North Dallas area, many other companies are moving here to service the needs of the huge influx of people.

Other large businesses moving their offices or expanding in the Dallas area, not specifically in North Dallas include the following:

  • Santander Consumer USA Inc. – The auto finance company moved and expanded their previous Dallas location to downtown Dallas occupying 14 floors of Thanksgiving Tower.
  • 7-Eleven Inc, which moved to the downtown area in 2005 recently built a new campus in Irving, conveniently located to DFW Airport.

These are just a few of the businesses which have moved to the North Dallas areas. There are negotiations in place for other businesses to move here over the next few years.

Dallas is emerging as a hotspot for businesses

“The BLS report for November further demonstrates that if you’re a company looking to expand, or a worker looking to start or continue your career, there is no better place to be than the Dallas region,” said Darren Grubb of the Dallas Regional Chamber.

“While we expect this positive trend to continue, we never take anything for granted,” he added. “The DRC will remain vigilant in supporting pro-growth public policies to ensure that our business climate continues to thrive as a beacon of opportunity for companies that are here – or considering a move here.”

The government agency splits the metroplex into Dallas-Plano-Irving on the east and Fort Worth-Arlington on the west.

The east side accounted for 71 percent of the overall job growth, because of its higher population. The job growth rate for the two sides of the metroplex was about the same, with the east side reporting a rate of 2.9 percent and the west side reporting a 2.7 percent increase in the workforce.

The average salary you’ll want to pay to stay competitive

As for income, Technology workers in the Dallas metropolitan area make 10 percent more than the national average, according to the professional services and staffing company Robert Half International Inc.

The midpoint salary for a chief information officer in the Dallas area is about $223,000, ranging from $188,000 to $316,000. Chief technology officers earn salaries that range from $160,000 to $273,000, with a midpoint of $193,000.

The midpoint salary for a chief information officer is $221,000 in Fort Worth, $219,000 in Austin, $217,000 in Houston, and $205,000 in San Antonio.

A lot will impact a company’s starting salary, including competition, location, corporate culture, and budgets, however, there are certain things you can look for to make sure you land the top talent. Here are the seven jobs expected to be in-demand for 2018, the skills and experience you should look for and the average salary you’ll want to pay to stay competitive.

Sources for this article:

Dallas tech workers make well over national average salary – DBJ

The 7 Most in Demand Tech Jobs for 2018 – CIO

New Data Shows DFWs job market is the best in the country – DBJ

http://sayyestodallas.com/jobs/fortune-1000/

About the Author

Rob McIntosh is founder of McIntosh Search, a leading talent acquisition firm serving the DFW area, helping Technology Leaders build strong IT Teams.

At McIntosh Search, we fully understand the correlation between profitability and employee retention and how performers drive organizational success. Learn creative ways hiring the right talent can lead to sustained and impactful growth. We are here to speak with you and discuss how our approach produces long-term measurable results.

Interested in learning more about building and sustaining leaders and the impact of improved communication on your team?

Contact Rob McIntosh, at ☎ 214-521-2900, or email Rob@mcintoshsearch.com