Originally relying largely on agriculture and on the Stockyards of neighboring Fort Worth, Dallas was developed largely due to being a hub for railroad lines in the region. However, it is now a large and thriving city in its own right, and has grown to be home to ten Fortune 500 companies, tying it with Atlanta for the title of US city with the third most Fortune 500 companies.
The discovery of oil in Dallas in the 1930s helped to stimulate its economy. The city also continues to be a transport hub, with nearby transportation facilities including the Dallas/Fort Worth International Airport, which is the largest airport in the United States and one of the busiest airports in the entire world.
- Number 2 job creating city in 2013, according to the US Bureau of Labor Statistics.
- Joint-third most Fortune 500 companies of any city in the US, as of 2011.
- Number 6 on newgeography's 2013 list of "Best Cities for Job Growth".
- Number 8 on Forbes' 2013 list of "Best Places For Job Growth".
- Number 13 on NerdWallet's 2014 list of "Best Cities for Job Seekers".
- Number 21 for "Job Growth" on Forbes' 2013 "Best Places For Business and Careers" list.
Major Industries and Employers
The city's largest industries are trade, transportation, and utilities; professional and business services; government; manufacturing; educational and health services; leisure and hospitality; and financial activities. Banking, tech, transportation, and petroleum companies have a particularly strong presence in the area.
Dallas is also a prominent hub for the telecommunications industry, being host to the head offices of multinational corporations such as Texas Instruments and AT&T, as well as to branches of many other companies.
The city is a very popular destination for business travel, with the Kay Bailey Hutchison Convention Center in downtown Dallas being one of the largest and busiest convention centers in the entire US. Additionally, Dallas has the most shopping centers per capita of any US city. These factors contribute to the significance of the city's service, hospitality, and retail industries. Top employers include American Airlines, Bank of America, AT&T, and Texas Instruments.
The city's 2012 population was 1,241,162 people, of which 296,149 were foreign-born and 49,735 were veterans. The median age is 31.8, and 17.8% of the population is between 20 and 29 years old.
Of Dallas residents over 25 years of age, 73.8% graduated high school (significantly below the national rate, 85.7%), and 29.0% have attained a bachelor's degree or higher (somewhat above the national rate, 25.9%).
The city's mean per capita yearly income is $27,011 and its unemployment rate is 5.5%. The homeownership rate is 44.4%, and 23.6% of the city's residents live below the poverty level.
Dallas' high school completion, homeownership, and poverty rates may be lower than those of the US as a whole, but its unemployment rate is promisingly low and its record for job growth is encouraging. Additionally, the presence of the head offices of so many huge corporations in the city bodes well for job seekers.