SWOT Economic Assessment - CITY OF IRVING, TX

CITY OF IRVING, TX

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ACKNOWLEDGEMENTS

TIP Strategies would like to thank the many individuals who contributed to the creation of the Irving Economic

Development Strategic Plan. Dozens of business and community leaders participated in this project and contributed

to our understanding of the challenges and opportunities facing Irving. We are especially grateful to the leadership

and staff of the City of Irving for their valuable support and guidance throughout the planning process. We also want

to thank partner organizations who generously gave their time and input, particularly the Greater Irving-Las Colinas

Chamber of Commerce, the Irving Convention & Visitors Bureau, the Irving Hispanic Chamber of Commerce, and

the Las Colinas Association.

CITY OF IRVING MAYOR AND CITY COUNCIL

Beth Van Duyne Mayor (at-large)

John C. Danish Place 1

Allan E. Meagher Place 2 (at-large)

Dennis Webb Mayor Pro Tem, Place 3

Phil Riddle Place 4

Oscar Ward Place 5

Brad M. LaMorgese Deputy Mayor Pro Tem, Place 6

Kyle Taylor Place 7

Wm. David Palmer Place 8 (at-large)

CITY OF IRVING STAFF

Chris Hillman City Manager

Michael Morrison Deputy City Manager

Ryan Adams Assistant to the City Manager

Scott Connell Director of Economic Development

Doug Janeway Chief Development Officer

Maura Gast, FCDME Executive Director, Irving Convention & Visitors Bureau

IRVING PROJECT TEAM PARTNERS

Beth Bowman President & CEO, Greater Irving-Las Colinas Chamber of Commerce

Don Williams Vice President of Economic Development & Operations, Greater Irving-Las Colinas Chamber of Commerce

Joey Grisham Director of Business Recruitment, Greater Irving-Las Colinas Chamber of Commerce

Joe Chapa Executive Director, Irving Sister Cities / International Trade & Development Assistance Center, Greater Irving-Las Colinas Chamber of Commerce

TIP STRATEGIES CONSULTING TEAM

Jon Roberts Managing Principal

John Karras Senior Consultant

CITY OF IRVING, TX

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CONTENTS

Introduction ................................................................................................................................................................. 1

The Framework ...................................................................................................................................................... 1

The Approach ......................................................................................................................................................... 1

SWOT Analysis ...................................................................................................................................................... 2

The Opportunity ...................................................................................................................................................... 3

The Challenge ........................................................................................................................................................ 3

Strategic Plan ............................................................................................................................................................. 4

Vision ...................................................................................................................................................................... 4

Priority Initiatives .................................................................................................................................................... 4

Initiative 1. International Business Development ................................................................................................ 5

Initiative 2. Entrepreneurship & Innovation ......................................................................................................... 9

Initiative 3. Higher Education Research & Development .................................................................................. 12

Initiative 4. Business Retention & Expansion .................................................................................................... 13

Initiative 5. Domestic Business Recruitment ..................................................................................................... 16

Initiative 6. Economic Development Tools & Resources .................................................................................. 18

Initiative 7. Events & Conferences .................................................................................................................... 22

Initiative 8. Community Brand & Image ............................................................................................................. 24

Organizational Framework ................................................................................................................................... 26

Irving Economic Development Advisory Council (EDAC) ................................................................................. 26

Performance Metrics ............................................................................................................................................ 27

Appendix A: Support Structures ............................................................................................................................... 30

Support Structure 1: Sites & Infrastructure .......................................................................................................... 31

Support Structure 2: Talent & Workforce Development ....................................................................................... 33

Support Structure 3: Quality of Place & Amenities .............................................................................................. 35

Appendix B: Peer Organizational Comparison ......................................................................................................... 39

Appendix C: Incentive Program Evaluation .............................................................................................................. 43

Incentive Recommendations for Irving .............................................................................................................. 43

Local Incentives Use ......................................................................................................................................... 45

Best Practices ................................................................................................................................................... 47

Appendix D: SWOT & Economic Assessment ......................................................................................................... 50

Introduction ........................................................................................................................................................... 50

Key Findings ...................................................................................................................................................... 51

SWOT Analysis ................................................................................................................................................. 54

Economic Assessment ......................................................................................................................................... 57

Location Advantages ......................................................................................................................................... 57

Economic Trends .............................................................................................................................................. 60

Commuting Patterns .......................................................................................................................................... 66

Industry Analysis ............................................................................................................................................... 70

Workforce and Occupational Analysis .............................................................................................................. 74

Benchmark Comparisons ..................................................................................................................................... 78

Appendix E: Target Industry Analysis ....................................................................................................................... 85

Recommended Target Industries for Irving .......................................................................................................... 86

Quantitative Analysis ............................................................................................................................................ 86

Qualitative Analysis .............................................................................................................................................. 89

CITY OF IRVING, TX

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Strategic Considerations ...................................................................................................................................... 89

Target Industry Recommendations ...................................................................................................................... 90

Corporate Headquarters .................................................................................................................................... 90

Corporate Training ............................................................................................................................................ 91

Foreign-Based Corporations ............................................................................................................................. 91

Software & Information Technology .................................................................................................................. 92

Telecommunications ......................................................................................................................................... 92

Finance & Insurance ......................................................................................................................................... 93

Health Care Specialties & Laboratories ............................................................................................................ 93

Professional Services ........................................................................................................................................ 94

Industrial Technology ........................................................................................................................................ 95

National Associations ........................................................................................................................................ 96

Appendix F: Strategic Marketing Initiatives .............................................................................................................. 97

Introduction ........................................................................................................................................................... 97

Create a unified brand and marketing strategy for the Partnership ................................... 98

Build new relationships and strengthen existing relationships with key audiences. ........ 101

Marketing Strategies Implementation Table....................................................................................................... 103

Target Industry Intelligence ................................................................................................................................ 105

Appendix G: Prioritized Site Listing ........................................................................................................................ 115

Vacant & Redevelopable Land ........................................................................................................................... 116

Vacant Commercial & Industrial Land ................................................................................................................ 117

Redevelopable Commercial & Industrial Land ................................................................................................... 118

Prioritized Site Evaluation .................................................................................................................................. 119

Former Texas Stadium Site District ................................................................................................................ 120

Irving Convention Center Station .................................................................................................................... 121

Heritage Crossing District ................................................................................................................................ 122

North Lake College Station ............................................................................................................................. 123

Irving Mall ........................................................................................................................................................ 124

Plymouth Park ................................................................................................................................................. 125

Carpenter Ranch ............................................................................................................................................. 126

Valley View ...................................................................................................................................................... 127

Appendix H: Implementation matrix ........................................................................................................................ 128

Implementation Plan - Years 1-5 ..................................................................................................................... 128

CITY OF IRVING, TX

ECONOMIC DEVELOPMENT STRATEGIC PLAN PAGE | 50

APPENDIX D: SWOT & ECONOMIC ASSESSMENT

INTRODUCTION

To provide a foundation for the planning process, TIP conducted an assessment of demographic and economic

characteristics that influence the city’s competitiveness. To maximize the value of this quantitative analysis, data

are shown for the City of Irving, the Dallas-Fort Worth metro area, the State of Texas, and the US as a whole. In

addition, we compare Irving to a selection of competitor cities on a number of demographic and economic factors.

Finally, a review of strengths, weaknesses, opportunities, and threats identified during the planning process

(commonly referred to as a SWOT analysis) is presented as well.

The data in this section should be updated annually by the new City of Irving senior research staff position

recommended in this strategic plan.

Source: US Census Bureau, TIP Strategies.

CITY OF IRVING, TX


KEY FINDINGS

Highlights from the economic assessment are outlined below.

Irving has experienced rapid population growth in recent years, growing by 20 percent in the 8-year period

from 2005 (190,404 residents) to 2013 (228,653 residents).

The city’s job growth has accelerated in recent years, with a total of 27,000 net new jobs added from 2009

to 2014, an increase of more than 14 percent.

Irving is the second most important employment center in the Dallas-Fort Worth metro area, with more

than 94,000 net inbound commuters on a daily basis, second only to the City of Dallas.

Key industries that drive Irving’s economy include professional services, finance & insurance, and

corporate & regional HQs, each of which accounts for a much higher percentage of jobs in Irving than the

Dallas-Fort Worth metro area, Texas, or the US as a whole.

The city has a well-educated workforce at the upper end (34 percent of adults age 25+ hold a bachelor’s

degree or higher, compared to 29 percent nationally), but an under-educated workforce at the lower end

(20 percent of adults lack a high school diploma, compared to 14 percent nationally).

The city has a youthful population, with a median age (31.6) that is 6 years younger than the US average

(37.3).

Irving has a diverse population, including a higher percentage of foreign-born residents (34%) than any other

large city in the Dallas-Fort Worth metro area.

The city has a high concentration of well-paying professional jobs, with a much higher proportion of workers

in the occupational groups of computer & math, business & finance, and architecture & engineering.

Irving has a wealth of assets and opportunities that can be leveraged for economic development. Some of the

city’s most valuable assets are highlighted below.

Irving’s strongest competitive advantage is its central location in the Dallas-Fort Worth metro area. In fact,

Irving is the most centrally located city based on the region’s mean center of population. This gives the city easy

access to the region’s business community and the large pool of skilled workers living in surrounding communities.

Irving is also uniquely positioned between DFW International Airport and Dallas Love Field. Moreover, the Dallas-

Fort Worth metro area is the most centrally located large urban area in the US.

The city offers unparalleled access and connectivity to the surrounding Dallas-Fort Worth region and the

entire US for businesses, workers, residents, and visitors. Irving’s location adjacent to DFW International Airport

(the fourth busiest airport in the US behind Atlanta Hartsfield-Jackson, Chicago-O’Hare, and LAX) places the

city less than four hours from every major business center in the US. Irving also has a robust transportation

network connecting the city to the surrounding region via several major highways, the DART Orange Line, and

the TRE commuter rail line.

Irving is home to many of the world’s most successful corporations including Fortune 500 headquarters

(ExxonMobil, Fluor, Kimberly-Clark, Commercial Metals, Celanese, and Pioneer Natural Resources), Fortune

1000 headquarters (Flowserve, Michaels Stores, and Darling Ingredients), North American headquarters of

foreign-based firms (NEC, Nokia, Siemens, Hilti, among others), and other major corporate operations of firms

based elsewhere in the US. In fact, Irving’s largest private sector employer is CITI, which is headquartered in

New York, NY, but has a major presence in Irving with 6,000 jobs and two cyber command centers. Other major

CITY OF IRVING, TX


corporations not based in Irving but with a substantial local presence include Verizon, AT&T, Sprint-Nextel,

Microsoft, Allstate Insurance, Abbott Labs, and Oracle.

The Las Colinas brand is well-recognized and the area is highly regarded as one of the leading business

centers within the Dallas-Fort Worth metro area and within the State of Texas. With dozens of major corporate

offices and more than 25 million square feet of office space, Las Colinas is second only to the downtown Dallas

CBD (Central Business District) as a regional center of business and employment.

The city benefits from established higher education institutions, thanks to the presence of the University

of Dallas and North Lake College. The University of Dallas is a top-tier private, Catholic, liberal arts university,

with a 50/50 split of undergraduate and graduate students and a highly regarded MBA program in the

University’s Satish & Yasmin Gupta College of Business. North Lake College is one of the premier colleges

within the Dallas County Community College District, providing a wide range of high-quality academic and

technical training programs. The potential exists to better connect these two institutions with the city’s major

employers to support the community’s business retention and expansion efforts. Lastly, Irving’s central location

within the region provides easy access to the entire region’s higher education assets including UT-Dallas, UT-

Arlington, University of North Texas, Southern Methodist University, and Texas Christian University.

There are many available sites for development and redevelopment within Irving, including hundreds of

acres situated adjacent to rail transit stations along the DART Orange Line (the Irving Convention Center

station, the Carpenter Ranch station, the Las Colinas Urban Center station, and the University of Dallas station)

and the TRE commuter rail line. The former Texas Stadium site and its surroundings represent what is perhaps

the premier regional redevelopment opportunity. It contains approximately 400 acres of highly visible land with

superb highway and light rail access. There are also undeveloped properties within Las Colinas suitable for

urban mixed-use (residential, office, retail/restaurant, hotel) development. Additionally, there are many vacant

and underutilized properties available for more dense development in the Heritage Crossing District and

surrounding neighborhoods. Lastly, there are several large properties which are not “on the market” (the

ExxonMobil headquarters, the Verizon campus, the Signet headquarters, among others) but are nonetheless

potential sites for future development.

Irving also has significant challenges that could limit its potential if left unaddressed. Some of these challenges

can be translated into opportunities while others require a more immediate and more aggressive response. The

city’s most substantial barriers to growth are detailed below.

Irving is surrounded by aggressive neighboring cities that have successfully competed for new investment

and job growth and continue to do so. By some measures, the Dallas-Fort Worth metro area is the most

competitive environment in the US for economic development. And many of Irving’s biggest competitors have

large pools of funds available to finance their economic development programs. The good news is that Irving is

well-positioned to elevate and accelerate its commitment to growing the local economy with a more focused

approach to business retention, expansion, and recruitment.

There is a disconnect between Las Colinas and the rest of Irving, leading to a lack of connectivity within

the city. The absence of high-quality physical connectivity can be seen in the fact that it can take just as long to

drive from the Heritage Crossing District to Las Colinas as it can take to travel from downtown Dallas to Las

Colinas. Perhaps even more apparent is the deficiency of cultural and business ties between the Heritage

Crossing District and Las Colinas. In their present state, these two sections of Irving feel more like two different

cities than two districts within the same city. This represents missed opportunities for businesses as well as

residents in both areas. Fortunately, there is untapped potential to better connect these two sections of the city,

both by linking residents throughout Irving to employment opportunities in Las Colinas and by promoting

CITY OF IRVING, TX


potential business expansion and real estate development opportunities in the Heritage Crossing District among

businesses in Las Colinas.

The city has a low-performing public K-12 school system, especially in comparison to some of the

surrounding school districts. In fact, Irving ISD is ranked 844th out of 965 total districts in Texas by School

Digger, a service that bases rankings on test-score data from the state’s Department of Education. This is a

lower ranking than the school districts in all of Irving’s benchmark cities (see list, page 78) in the Dallas-Fort

Worth metro area. Nonetheless, Irving ISD does have strong programs and has recently been recognized for

its progress with a National AP award. Irving is also home to multiple top-notch private (Cistercian and The

Highlands School) and charter schools (Uplift North Hills Prep, Great Hearts, and Uplift Infinity). It is also

important to point out that portions of Irving’s city limits fall within Coppell ISD, which is ranked in the top 10

percent of school districts statewide (ranked 66 out of 965), and Carrollton-Farmers Branch ISD, which is in the

top 40 percent of school districts in Texas (ranked 375 out of 965).

Irving has struggled to achieve a high level of urban vitality, which is a major barrier to attracting young

professionals and creative industry workers. The city does not currently have a signature urban, mixed-use

district (like Dallas’s Uptown neighborhood, Southlake Town Square, or Addison Circle) that provides a wide

range of amenities in a dense, walkable setting. However, the city does have solid building blocks for enhanced

urban districts, including the Las Colinas Urban Center, the upcoming Music Factory project, and the Heritage

Crossing District. Irving also has unique infrastructure assets (DART Orange Line and TRE commuter rail line)

and major redevelopment opportunities (the former Texas Stadium site and surrounding properties) that can

also provide a major boost to the city’s urban vitality.

CITY OF IRVING, TX


SWOT ANALYSIS

In addition to our review of economic and demographic data, our understanding of Irving was informed by roundtable

discussions and interviews with local leaders in the public and private sector, as well as our experience working

with communities across the country. Based on this work, we have developed an analysis of the city’s strengths,

weaknesses, opportunities, and threats, commonly referred to as a SWOT analysis. The results of the analysis are

outlined below.

STRENGTHS

WalletHub named Irving 2015’s “Best City to Start a Career” in the US (#1 out of the 150 largest cities)

The DFW metro area is currently one of the hottest markets in the US for business expansion

Irving’s locational advantages are unparalleled:

Irving is the most centrally located city in DFW Metroplex

The city is located between DFW International Airport and Dallas Love Field

DFW Metroplex is the most centrally located major metro area in the US

Irving’s proximity to DFW International Airport, and the strong relationship between the airport and the city,

are perhaps the city’s strongest assets for business attraction and investment

Irving’s economic base is strong and diverse, with high concentrations of jobs in finance/accounting,

information technology, and engineering thanks to the presence of many corporate HQs and other major

business operations

Diversity in the city’s population and workforce is an advantage, especially for multi-national corporations

(including most diverse zip code in the US, 75038, based on analysis by Trulia)

Strong business and cultural ties to several foreign countries (India, Japan, Mexico, Finland, Saudi Arabia,

among others), including sister city relationships

Robust transportation access and connectivity within the DFW region (DART, TRE, highway system)

Well-known Las Colinas brand as a top destination for businesses

Irving is generally regarded (within the Metroplex and Texas as a whole) as having a strong business

climate

Las Colinas infrastructure and amenities (canals, water features, etc.)

Many recent economic development “wins” (relocations of corporations to Irving, expansions of existing

Irving-based companies, and re-investment of existing firms in existing facilities)

Large, diverse base of corporations including:

Several Fortune 500 HQs and Fortune 1000 HQs

North American HQs of foreign-owned firms

Divisional/regional HQs of major corporations

Irving ISD has recently received a national AP award and is a leader in implementing HB-5 career paths in

aviation, culinary, and robotics fields

Uplift North Hills Prep, Uplift Infinity Prep, and Cistercian Preparatory School are regarded as top-tier

schools in the region

Strong broadband and electric utility infrastructure

City’s development review/permitting process is generally considered to be timely and dependable

Access to a large pool of talented workers in Irving and surrounding DFW cities

Easy for Irving corporations to find skilled workers for their operations

Strong city/chamber partnership approach for economic development with a chamber which is well-

regarded by the corporate community in DFW

CITY OF IRVING, TX


Irving’s smaller size (relative to the City of Dallas) offers greater visibility to the international companies

with operations in the community

Annual InnoTech conference in Las Colinas

Texas Musician’s Museum

Heritage Crossing District with unique local character and strong redevelopment potential

Many neighborhoods in the southern section of Irving are walkable (highest Walk Scores in city and higher

than surrounding suburban communities)

WEAKNESSES

Irving ISD does not perform well compared to many school districts in surrounding communities (Coppell,

Farmers Branch, Lewisville, Plano, etc.)

Lack of “cool old buildings” (warehouses, etc.) that are attractive to young tech companies and startups

Aging Irving Mall

Perceptions of blight/crime in portions of Irving

Restrictions on use/sale/consumption of alcohol in parks (for events/festivals)

Irving lacks the “new and shiny” image and consumer amenities (upscale shopping, fine dining, and

nightlife) available in some competitor communities (Frisco, Plano, Southlake, Grapevine, etc.)

Perception/reality of absentee landlords as a barrier in portions of Irving

DCURD’s infrastructure requirements in Las Colinas add a significant amount of cost to new development,

especially for new office space

Irving does not have the “Triple Freeport” tax exemptions that other cities bordering DFW International

Airport have, but does offer these exemptions from the city case-by-case

OPPORTUNITIES

Wide range of sites with thousands of combined acres available for large-scale real estate development

for new office space, mixed-use districts, and urban residential zones (University of Dallas land, former

Texas Stadium site and surroundings, underutilized properties including ExxonMobil and Verizon

campuses, and many other sites)

Several sites with potential for transit-oriented development adjacent to DART Orange Line and TRE

station

Ongoing development of Music Factory (live music venue, restaurants, Alamo Drafthouse theater) will

provide a major boost to Irving’s quality of place

Recent/ongoing/planned urban residential development in Las Colinas is enhancing the district’s urban

vitality

Potential for development of more housing and space for businesses in Heritage Crossing District

Investments and expansion of Highway 183

Expand education training partnerships between local employers and Irving ISD and North Lake College

Expand aviation training collaboration between Aviation Institute, Irving ISD, and local employers

Involve North Lake College and the University of Dallas more actively in business attraction efforts

Attraction of growing companies from startup hotbeds (like Austin) when these companies are “ready to grow

up”

Connect the city’s efforts to create an incubator/accelerator with the innovation efforts taking place within

major corporations, as well as startups

CITY OF IRVING, TX


Potential development of large floodplain area along Trinity River in southern section of city (adjacent to

Grand Prairie) for recreational uses

$20 million donation to University of Dallas business program from prominent Indian business family

Potential for city to partner with NEC on a “smart cities” program.

Expand partnerships with the business attraction efforts of the Dallas Regional Chamber’s DFW Marketing

Team, the Governor’s Office, and TexasOne for economic development in Irving

Potential for more sports tournaments to support local hospitality industry, especially on weekends

(assuming facilities can be made available for these purposes)

Leverage Las Colinas water features for events, development, and other purposes

Large untapped potential for international business development from two sides: 1) the attraction of

foreign-based firms into Irving; and 2) the expansion of Irving-based corporations into international

markets

DFW International Airport has plenty of land available for development, including hundreds of acres within

the Irving city limits, many of which are prime sites for attracting aviation-related businesses and

“business-on-demand” firms (management consulting, corporate training, IT)

The southern section of DFW International Airport is experiencing high levels of interest for industrial

development

There is a large untapped opportunity for additional air cargo activity at DFW International Airport

(currently, DFW International Airport has only a 2% market share of perishable products from Latin

America while Miami International Airport has 70% of this market, but DFW is a more cost-effective option)

Re-imagine Irving Mall to incorporate mixed-use development (residential, office, academic, research

uses)

THREATS

Alcohol use/sale/consumption restrictions in park spaces limit the potential to establish a vibrant urban

experience through the creation of festivals/events/live music in the Heritage Crossing District and other parts of

the community

Fierce competitive environment in Metroplex for business attraction. Many cities in the metro area have

well-funded, successful economic development programs

Competition for commercial real estate development between DFW International Airport and other

properties in Irving

Some of the city’s development regulations are unfavorable to dense urban, mixed-use development and

to the adaptive re-use of old structures

Negative perceptions of city due to recent minor earthquakes

Relatively low achievement levels of Irving ISD (compared to surrounding districts such as Coppell ISD

and Carrollton-Farmers Branch ISD) is a barrier to attracting high-wage professionals and business

executives into the residential community and, in some cases, can impact the corporate site location

decisions as well

Some of Irving’s major employers (AT&T, TXU, and others) face increased competition from other

companies seeking to disrupt traditional industries like telecommunications (Google) and electric utilities

(Tesla)

“Start and stop” nature of major developments (Water Street and Entertainment Center) in the high-growth

DFW marketplace could cause Irving to miss out on current and short-term business attraction

opportunities

Perception of Irving and Las Colinas as two different cities

CITY OF IRVING, TX


ECONOMIC ASSESSMENT

LOCATION ADVANTAGES

FIGURE 8. REGIONAL MEAN CENTER OF POPULATION, 2010 THE DALLAS-FORT WORTH METRO AREA’S MEAN CENTER OF POPULATION IS IN IRVING

The Dallas-Fort Worth metro area’s regional center of gravity sits within the municipal boundaries of Irving, making

it the most centrally located city within the entire metro area (the mean center of population in more formal

terminology). The regional center of gravity shifted 1 mile north from Highway 183 at Wingren Road in 2000 to near

the intersection of O’Connor Boulevard and East Northgate Drive in 2010. In other words, from central Irving there

are an equal number of Metroplex residents living in every direction. And as the region continues to grow, Irving will

remain the most centrally located city for at least a few more decades, perhaps even longer. This centrality has

huge implications for Irving’s economic development potential, especially in combination with the city’s many

transportation assets (DFW International Airport, DART Orange Line, TRE, and several major highways). Irving’s

locational advantages are the most commonly cited asset by the city’s businesses. And the results can be seen in

the city’s impressive list of major employers (see Figure 15 on page 61) that call Irving home, thanks in large part

to the city’s central location.


CITY OF IRVING, TX


FIGURE 9. TOP 10 BUSIEST AIRPORTS BY DOMESTIC PASSENGERS, 2014 DFW IS THE 3RD BUSIEST AIRPORT IN THE US FOR DOMESTIC PASSENGERS

More than 27 million domestic passengers flew through DFW International Airport in 2014. If 2010-2014 growth

rates continue, DFW will surpass Chicago O’Hare in 2018 as the 2nd busiest airport for domestic passengers.

NO. CODE AIRPORT DOMESTIC

PASSENGERS (2014) AVG. ANNUAL %

CHANGE (2010-2014)

1 ATL Hartsfield-Jackson Atlanta International

41,331,492 1.8%

2 ORD Chicago O'Hare International 28,098,448 1.6%

3 DFW Dallas/Fort Worth International 27,309,768 2.4%

4 LAX Los Angeles International 25,125,274 4.5%

5 DIA Denver International 24,877,202 1.6%

6 CLT Charlotte Douglass International 19,987,477 4.6%

7 PHX Phoenix Sky Harbor International 19,224,449 1.8%

8 LAS McCarran International (Las Vegas) 18,712,331 0.7%

9 SFO San Francisco International 17,744,960 4.1%

10 SEA Seattle/Tacoma International 15,996,552 2.8%

Source: US Bureau of Transportation Statistics

FIGURE 10. GROWTH OF DOMESTIC AIR TRAVEL PASSENGERS, 2010-2014 DOMESTIC AIR TRAVEL AT DFW GREW BY AN AVERAGE ANNUAL RATE OF 2.4% FROM 2010-2014

DFW’s domestic air travel grew faster than 5 of the 10 busiest airports from 2010-2014.


CITY OF IRVING, TX


FIGURE 11. TOP 10 BUSIEST AIRPORTS BY INTERNATIONAL PASSENGERS, 2014 DFW IS THE 10TH BUSIEST AIRPORT IN THE US FOR INTERNATIONAL PASSENGERS

More than 3 million international passengers traveled through DFW in 2014.

NO. CODE AIRPORT INTERNATIONAL

PASSENGERS (2014*) AVG. ANNUAL %

CHANGE (2010-2014)

1 JFK John F. Kennedy International (New York)

12,438,236 4.9%

2 MIA Miami International 8,801,714 4.8%

3 LAX Los Angeles International 8,338,162 4.4%

4 EWR Newark Liberty International 5,233,797 1.4%

5 ORD Chicago O'Hare International 4,999,478 1.3%

6 ATL Hartsfield-Jackson Atlanta International 4,788,272 4.0%

7 SFO San Francisco International 4,565,231 4.7%

8 IAH George Bush Intercontinental (Houston) 4,277,424 4.5%

9 IAD Washington Dulles International 3,160,720 3.3%

10 DFW Dallas/Fort Worth International 3,094,068 8.0%

Source: US Bureau of Transportation Statistics. *Through Nov. 2014.

FIGURE 12. GROWTH OF INTERNATIONAL AIR TRAVEL PASSENGERS, 2010-2014 INTERNATIONAL TRAVEL IS GROWING FASTER AT DFW THAN THE OTHER 10 BUSIEST AIRPORTS

DFW’s international passenger traffic grew at an average annual rate of 8% from 2010-2014, much faster than any

of the other 10 busiest international airports.


CITY OF IRVING, TX


ECONOMIC TRENDS

FIGURE 13. TOTAL POPULATION IRVING’S POPULATION HAS GROWN RAPIDLY SINCE 2005

Irving’s population did not grow from 2000 to 2005, but it has grown by more than 38,000 residents from 2005 to

2013, a gain of 20%.

Source: US Census Bureau, Annual Population Estimates

FIGURE 14. TOTAL EMPLOYMENT IRVING’S ECONOMY HAS ADDED JOBS IN EACH OF THE LAST 5 YEARS

The city’s job base has grown rapidly in recent years, finally surpassing the 2001 peak in 2014.

Source: EMSI, 2014.4 – QCEW Employees, Non-QCEW Employees, and Self-Employed.

CITY OF IRVING, TX


FIGURE 15. MAJOR EMPLOYERS IN IRVING, 2016 (IRVING HQs HIGHLIGHTED) THE CITY’S ECONOMIC BASE IS MADE UP OF DOZENS OF MAJOR EMPLOYERS IN A DIVERSE RANGE OF INDUSTRIES

NO. EMPLOYER INDUSTRY/ PRODUCT TYPE

HQ LOCATION (FOREIGN IN ITALICS) JOBS

1 CITI Banking & Financial Services New York, NY 6,500

2 Irving ISD Education Irving, TX 4,044

3 Verizon Communications Telecommunications New York, NY 3,260

4 Irving Mall (WP Glimcher) Retail Columbus, OH 2,100

5 Allstate Insurance Co Insurance Northbrook, IL 2,000

6 YRC Freight Logistics & Distribution Overland Park, KS 1,941

7 City of Irving Government Irving, TX 1,846

8 DFW International Airport Transportation Irving, TX 1,700

9 Nokia Telecommunications Espoo, Finland 1,500

10 Quest Diagnostics Clinical Laboratory Services Madison, NJ 1,500

11 Michaels Stores Inc. Retail Irving, TX 1,388

12 Microsoft Corp IT Services & Products Redmond, WA 1,350

13 Neiman Marcus Direct Retail Dallas, TX 1,339

14 Health Management Systems (HMS) Health Care Irving, TX 1,299

15 7-Eleven Retail Dallas, TX 1,250

16 Signet Retail Irving, TX 1,250

17 Baylor Medical Center Health Care Dallas, TX 1,124

18 Pioneer Natural Resources USA Oil & Gas Production Irving, TX 1,090

19 North Lake College Education Irving, TX 1033

20 Archon Group Real Estate Services Irving, TX 1001

21 Four Seasons Resort and Club Hotels Toronto, Canada 960

22 TXU Energy Electric Utilities Dallas, TX 900

23 VHA Inc. Health Care Irving, TX 773

24 ACE Cash Express Inc. Payday Loans Irving, TX 729

25 Nissan North America Inc. Automotive Yokohama, Japan 715

26 Fed Ex Freight Logistics & Distribution Memphis, TN 700

27 Dr Pepper Snapple Group Soft Drinks Plano, TX 696

28 Computer Sciences Corporation IT Services Falls Church, VA 650

29 Fluor Corporation Engineering Irving, TX 650

30 AT&T Inc. Telecommunications Dallas, TX 644

31 Oracle Corp IT Services & Products Redwood City, CA 612

32 Liberty Mutual Insurance Insurance Boston, MA 600

33 NCH Corporation Maintenance Products Irving, TX 600

34 NEC Corporation of America IT Services & Products Tokyo, Japan 600

35 HCA Health Care Nashville, TN 550

36 Holt Cat Construction Equipment San Antonio, TX 550

37 ADT Security (previously Brink's) Security Systems Boca Raton, FL 535

38 Commercial Metals Company Steel & Metal Manufacturing Irving, TX 508

CITY OF IRVING, TX


NO. EMPLOYER INDUSTRY/ PRODUCT TYPE

HQ LOCATION (FOREIGN IN ITALICS) JOBS

39 University of Dallas Education Irving, TX 507

40 Aviall Inc. Aerospace & Defense Irving, TX 500

41 Caris Diagnostics Biotechnology Irving, TX 500

42 Boy Scouts of America Nonprofit Organization Irving, TX 450

43 ExxonMobil Corporation Oil & Gas Production Irving, TX 403

44 Kimberly-Clark Corporation Consumer Goods Irving, TX 400

45 CEC Entertainment Restaurants Irving, TX 350

46 Flowserve Corporation Industrial/Environmental Machinery Irving, TX 350

47 Celanese Corporation Chemicals & Advanced Materials Irving, TX 324

48 Siemens Engineering Munich, Germany 300

49 Trend Micro Security Software Tokyo, Japan 245

Source: Greater Irving-Las Colinas Chamber of Commerce, Feb. 2016

FIGURE 16. FORTUNE 500 AND FORTUNE 1000 HEADQUARTERS IN IRVING, 2015 IRVING IS A SIGNIFICANT CENTER OF MAJOR CORPORATE HEADQUARTERS

NO. COMPANY INDUSTRY/PRODUCT TYPE REVENUE (TRAILING 12 MONTHS

ENDING DEC. 31 2015)

2 ExxonMobil Oil & Gas Production $236.81B

136 Fluor Corporation Engineering $18.11B

140 Kimberly-Clark Corporation Consumer Goods $18.59B

388 Commercial Metals Company Steel & Metal Manufacturing $5.46B

395 Celanese Corporation Chemicals & Advanced Materials $5.67B

496 Pioneer Natural Resources Company

Oil & Gas Production $3.14B

528 Flowserve Corporation Industrial/Environmental Machinery $4.56B

544 Michaels Stores, Inc. Retail $4.84B

622 Darling Ingredients Food Production $3.59B

Source: Fortune, Yahoo! Finance

CITY OF IRVING, TX


FIGURE 17. IRVING NET JOB CHANGE BY INDUSTRY, 2010-2014 IRVING’S RECENT JOB GROWTH HAS PRIMARILY COME FROM ADMINISTRATIVE SERVICES, PROFESSIONAL SERVICES, AND FINANCE & INSURANCE

Irving has experienced rapid job growth in administrative services, professional services, and finance & insurance

since 2010. In fact, those three sectors account for 59 percent of the city’s job growth from 2010-2014. The only

significant declines in employment occurred in the wholesale trade and construction sectors in 2010 and 2011, but

these sectors have recovered with solid job growth in 2013 and 2014. The following six sectors experienced net job

growth in each of the last five years: oil, gas, & mining; information & media; healthcare; transportation &

warehousing; professional services; and administrative services.


CITY OF IRVING, TX


FIGURE 18. IRVING NET JOB CHANGE BY OCCUPATION, 2010-2014 PROFESSIONAL OCCUPATIONS MAKE UP A LARGE PORTION OF IRVING’S RECENT JOB GROWTH

Irving has experienced solid job growth across a wide range of occupational groups, with net job growth in each of

the last 5 years in 17 of the city’s 23 occupational categories. A large portion of the city’s recent job growth has

taken place in professional office-related occupations, with the following five groups accounting for 53% of the city’s

net job growth from 2010-2014: office & administrative support; computer & math science; business & financial

operations; sales; and management.


CITY OF IRVING, TX


FIGURE 19. UNEMPLOYMENT RATES (12-MONTH ROLLING AVG.), JAN. 2000-DEC. 2014 IRVING’S UNEMPLOYMENT RATE HAS REMAINED CONSISTENTLY BELOW US, TEXAS, AND REGIONAL RATES FOR MOST OF THE LAST 15 YEARS

Irving’s end-of-year unemployment rate (Dec. 2014) of 3.6% was lower than the Dallas-Fort Worth MSA rate (4%),

the Texas rate (4.1%), and the US rate (5.4%) for the same time period.

Source: US Bureau of Labor Statistics, Local Area Unemployment Statistics (state and local)

FIGURE 20. AVERAGE ANNUAL WAGES, 2001-2014 IRVING’S WAGES ARE SIGNIFICANTLY HIGHER THAN US, TEXAS, AND REGIONAL WAGE RATES

Irving’s average annual wages grew from $47,350 in 2001 to $63,732 in 2014, an increase of nearly 35%. Wages

in the city remain significantly higher than wages in the surrounding region, state, and US thanks to the high

concentration of major corporate operations and professional jobs.


CITY OF IRVING, TX


COMMUTING PATTERNS

FIGURE 21. NET DAILY COMMUTER TRAFFIC FOR IRVING, 2002-2011 THE CITY IS A MAJOR EMPLOYMENT CENTER WITHIN THE DALLAS-FORT WORTH METRO AREA

The number of commuters that live and work in Irving is relatively small (about 22,000 workers, less than 12 percent

of Irving’s total jobs) and has not changed significantly over the last decade. The number of inbound commuters

(people that work in Irving and live outside the city) has grown from 149,000 in 2002 to 166,000 in 2011, reflecting

the city’s increasingly important role as a major business center within the Dallas-Fort Worth metro area. The

number of outbound commuters has also increased significantly over the last decade, from 57,000 in 2002 to 71,000

in 2011, but remains much lower than the number of inbound commuters.

Source: US Census Bureau, Local Employment Dynamics (LED) database

CITY OF IRVING, TX


FIGURE 22. DAILY NET INFLOW/OUTFLOW OF WORKERS BY SECTOR FOR IRVING, 2011 THE CITY IMPORTS A LARGE AMOUNT OF WORKERS IN MOST INDUSTRY SECTORS

Thanks to its role as one of the most important business and employment centers in the DFW Metroplex, Irving

experiences a large net daily inflow of commuters. The industries drawing the highest levels of inbound commuters

are: finance & insurance (18,233 net inbound commuters); administrative/support services (14,919); and

professional, scientific, and technical services (11,802).


CITY OF IRVING, TX


FIGURE 23. IRVING’S LABOR SHED CITIES WHERE IRVING WORKERS LIVE, 2011

Source: US Census Bureau, Local Employment Dynamics (LED) database, TIP Strategies.

IRVING LABOR SHED, 2011

CITIES WHERE IRVING WORKERS LIVE INBOUND COMMUTERS PERCENT OF TOTAL

Dallas 26,045 13.9%

Irving 22,215 11.8%

Fort Worth 11,892 6.3%

Arlington 9,312 5.0%

Grand Prairie 6,523 3.5%

Plano 5,775 3.1%

Carrollton 4,386 2.3%

Lewisville 4,282 2.3%

Flower Mound 3,952 2.1%

Frisco 3,352 1.8%

All Other Locations 90,075 48.0%


CITY OF IRVING, TX


FIGURE 24. IRVING’S COMMUTE SHED, 2011 CITIES WHERE IRVING’S RESIDENTS WORK


IRVING COMMUTE SHED, 2011

CITIES WHERE IRVING RESIDENTS WORK OUTBOUND COMMUTERS PERCENT OF TOTAL

Dallas 26,295 28.1%

Irving 22,215 23.7%

Fort Worth 4,253 4.5%

Grapevine 3,458 3.7%

Arlington 3,097 3.3%

Plano 2,539 2.7%

Carrollton 2,521 2.7%

Farmers Branch 2,427 2.6%

Grand Prairie 2,285 2.4%

Richardson 1,729 1.8%

All Other Locations 22,851 24.4%


CITY OF IRVING, TX


INDUSTRY ANALYSIS

FIGURE 25. DISTRIBUTION OF EMPLOYMENT BY INDUSTRY, 2014 SHARE OF TOTAL EMPLOYMENT BY MAJOR INDUSTRY SECTOR

Irving’s employment is highly concentrated in three sectors: administrative & support services (14.7 percent of total

employment); professional services (11.9 percent); and finance & insurance (11.8 percent). Together, these three

sectors account for more than 38 percent of Irving’s total employment, compared to less than 15 percent of US

employment. The city has a much lower percentage of jobs than the Dallas-Fort Worth metro area, Texas and the

US in the following three sectors: retail trade (6.6 percent); private educational services (6.3%); and healthcare &

social assistance (5.6%).


N AICS Code & Description

56 Administrative & support services 1 4 .7 % 8.4% 6.6% 6.3%

54 Professional services 1 1 .9 % 7.0% 6.1% 6.3%

52 Finance & insurance 1 1 .8 % 6.1% 4.3% 4.1%

42 W holesale trade 7.0% 5.3% 4.6% 3.9%

72 Lodging, restaurants, & bars 6.7% 8.3% 8.4% 8.3%

44-45 Retail trade 6.6% 9 .9 % 1 0 .3 % 1 0 .4 %

51 Information 6.4% 2.4% 1.7% 1.9%

61 Educational services (private) 6.3% 8 .5 % 9 .7 % 9 .3 %

62 Healthcare & social assistance 5.6% 1 0 .4 % 1 1 .6 % 1 3 .1 %

23 Construction 4.7% 5.9% 6.6% 5.2%

48-49 Transportation & warehousing 3.7% 4.9% 4.0% 3.7%

81 Personal & other services 3.5% 5.0% 4.8% 4.8%

31-33 Manufacturing 3.5% 7.5% 7.0% 8.1%

55 Corporate & regional offices 2.7% 1.0% 0.7% 1.4%

53 Property sales & leasing 2.5% 2.1% 1.8% 1.6%

71 Arts, entertainment, & recreation 0.8% 1.4% 1.1% 1.6%

9011 Federal govt., civilian 0.6% 0.9% 1.2% 1.5%

21 Mining (incl. oil & gas) 0.4% 1.0% 2.5% 0.6%

22 Utilities 0.4% 0.3% 0.4% 0.4%

9012 Federal govt., military 0.3% 0.5% 1.4% 1.3%

903 Local govt. (incl. pub. ed. & hospitals) 0.0% 2.6% 2.9% 3.6%

11 Agriculture & forestry 0.0% 0.2% 0.8% 1.2%

902 State govt. (incl. higher ed./ hospitals) 0.0% 0.4% 1.1% 1.5%

Irving

Da lla s-Fort

W orth MSA Tex a s US

CITY OF IRVING, TX


FIGURE 26. CONCENTRATION OF EMPLOYMENT BY INDUSTRY, 2014 LOCATION QUOTIENT (LQ) ANALYSIS BY MAJOR INDUSTRY SECTOR, US=1.00

Location quotient (LQ) analysis can provide an understanding of

an area’s relative strengths. A review of LQs reveals a number of

differences between Irving and the surrounding regional, state, and

national economy. Employment levels are much higher in Irving

than in the Dallas-Fort Worth MSA for the following sectors:

information (LQ of 3.41); finance & insurance (2.92); administrative

& support services (2.36); corporate & regional offices (1.91); and

professional services (1.88). Irving has lower concentrations of

employment than the MSA in the following sectors: retail trade

(0.63); arts, entertainment, & recreation (0.47); manufacturing

(0.43); and healthcare & social assistance (0.43).



51 Information 3 .4 1 1 .2 6 0.89 1.00

52 Finance & insurance 2 .9 2 1 .5 1 1.07 1.00

56 Administrative & support services 2 .3 6 1 .3 4 1.06 1.00

55 Corporate & regional offices 1 .9 1 0.73 0.51 1.00

54 Professional services 1 .8 8 1.11 0.97 1.00

42 W holesale trade 1 .7 8 1 .3 5 1.18 1.00

53 Property sales & leasing 1 .5 3 1 .2 7 1.11 1.00

22 Utilities 1.06 0.74 1.08 1.00

48-49 Transportation & warehousing 1.02 1 .3 5 1.11 1.00

23 Construction 0.91 1.13 1 .2 7 1.00

72 Lodging, restaurants, & bars 0.81 1.00 1.02 1.00

81 Personal & other services 0.74 1.05 1.01 1.00

61 Educational services (private) 0.67 0.91 1.04 1.00

21 Mining (incl. oil & gas) 0.67 1 .6 7 4 .3 6 1.00

44-45 Retail trade 0.63 0.95 0.99 1.00

71 Arts, entertainment, & recreation 0.47 0.87 0.70 1.00

31-33 Manufacturing 0.43 0.93 0.87 1.00

62 Healthcare & social assistance 0.43 0.79 0.88 1.00

9011 Federal govt., civilian 0.37 0.62 0.83 1.00

9012 Federal govt., military 0.19 0.36 1.05 1.00

11 Agriculture & forestry 0.01 0.15 0.65 1.00

903 Local govt. (incl. pub. ed. & hospitals) 0.01 0.73 0.81 1.00

902 State govt. (incl. higher ed./ hospitals) 0.00 0.26 0.77 1.00

Irving

Da lla s-Fort


LOCATION QUOTIENT (LQ) ANALYSIS is a

statistical technique used to suggest areas of

relative advantage based on a region’s employment

base. LQs are calculated as an industry’s share of

total local employment divided by the same

industry’s share of employment at the national level.

If the local industry and national industry are

perfectly proportional, the LQ will be 1.00. LQs

greater than 1.25 are presumed to indicate a

comparative advantage; those below 0.75 suggest

an under-developed sector but may also point to

opportunities for expansion/attraction.

CITY OF IRVING, TX


FIGURE 27. TOP 30 INDUSTRIES IN IRVING RANKED BY LOCATION QUOTIENT, 2014 IRVING HAS A HIGH LEVEL OF EMPLOYMENT IN MANY HIGH-PAYING SECTORS

Irving has a high concentration of jobs in sectors tied to finance & insurance, information, and professional services.

Of the top 30 sectors ranked by LQ, 10 sectors have average annual earnings per worker above $100,000, and 19

sectors have average annual earnings per worker above $75,000. And the majority (21 of 30) of these sectors are

projected to add jobs from 2014 to 2019.

Source: EMSI, 2014.4 – QCEW Employees, Non-QCEW Employees, and Self-Employed. Figures exclude industries with fewer than 100 jobs in 2014. *Directional trend of EMSI employment projections through 2019. **Earnings per worker (EPW) = Total annual earnings of a regional industry (wages, salaries, profits, benefits, and other compensation) divided by the number of jobs in the industry. It is intended to provide an indication of the industry’s impact and is not equivalent to wages paid to individual workers.

Jobs

2 0 1 0

Jobs

2 0 1 4

N et Chg.,

2 0 1 0 -1 4

Projected

Chg.* EPW **

LQ

2 0 1 4

5222 Nondepository Credit Intermediation 8,942 9,843 +901 p $88,588 11.62

5179 Other Telecommunications 1,412 1,215 -197 q $111,402 9.81

5331

Lessors of Nonfinancial Intangible Assets (except Copyrighted

W orks) 169 298 +128 p $130,810 9.12

4882 Support Activities for Rail Transportation 223 363 +139 p $40,572 8.35

5152 Cable and Other Subscription Programming 515 710 +194 q $87,919 6.80

5112 Software Publishers 2,363 2,805 +442 p $151,315 6.54

4236

Household Appliances and Electrical and Electronic Goods

Merchant W holesalers 3,182 2,950 -232 q $147,793 6.33

5171 W ired Telecommunications Carriers 4,733 5,313 +580 q $135,551 6.07

5172 W ireless Telecommunications Carriers (except Satellite) 973 1,284 +311 q $107,843 5.71

4246 Chemical and Allied Products Merchant W holesalers 873 964 +91 p $91,968 5.18

5619 Other Support Services 1,308 2,104 +796 p $53,312 4.71

5616 Investigation and Security Services 4,815 5,718 +903 p $46,480 4.51

5415 Computer Systems Design and Related Services 9,255 11,576 +2,321 p $110,618 4.24

4541 Electronic Shopping and Mail-Order Houses 1,984 2,133 +149 p $71,428 4.19

5614 Business Support Services 5,278 5,312 +34 q $46,802 3.97

6215 Medical and Diagnostic Laboratories 1,376 1,491 +115 p $75,659 3.90

3119 Other Food Manufacturing 790 935 +145 p $86,903 3.63

5182 Data Processing, Hosting, and Related Services 1,521 1,415 -105 p $118,346 3.60

4855 Charter Bus Industry 68 150 +82 q $23,024 3.36

3121 Beverage Manufacturing 694 847 +153 p $78,671 3.10

5323 General Rental Centers 157 187 +31 q $66,582 3.09

4881 Support Activities for Air Transportation 322 777 +456 q $40,436 3.08

5613 Employment Services 9,390 14,089 +4,699 p $38,166 2.78

5416 Management, Scientific, and Technical Consulting Services 4,820 5,911 +1,091 p $111,047 2.73

5611 Office Administrative Services 1,685 1,802 +117 p $113,343 2.68

5241 Insurance Carriers 3,985 4,678 +693 p $94,657 2.51

5615 Travel Arrangement and Reservation Services 480 745 +265 p $53,881 2.46

5242 Agencies, Brokerages, and Other Insurance Related Activities 2,991 4,169 +1,178 p $88,886 2.22

5313 Activities Related to Real Estate 2,123 2,351 +228 p $66,183 2.22


CITY OF IRVING, TX


FIGURE 28. TOP 30 INDUSTRIES IN IRVING RANKED BY NET JOB CHANGE, 2010-2014 A LARGE PORTION OF IRVING’S JOB GROWTH HAS TAKEN PLACE IN HIGH-PAYING INDUSTRIES

Thanks to Irving’s large base of corporate headquarters and other major corporate operations, a large portion of

the city’s recent job growth has taken place in sectors related to professional services and finance & insurance,

many of which are high-paying jobs. Of the top 30 sectors ranked by net job growth from 2010-2014, 9 sectors have

average annual earnings per worker of more than $100,000.

Source: EMSI, 2014.4 – QCEW Employees, Non-QCEW Employees, and Self-Employed. *Directional trend of EMSI employment projections through 2019. **Earnings per worker (EPW) = Total annual earnings of a regional industry (wages, salaries, profits, benefits, and other compensation) divided by the number of jobs in the industry. It is intended to provide an indication of the industry’s impact and is not equivalent to wages paid to individual workers.

Jobs

2 0 1 0

Jobs

2 0 1 4

N et Chg.,

2 0 1 0 -1 4

Projected

Chg.* EPW **

LQ

2 0 1 4

5613 Employment Services 9,390 14,089 +4,699 p $38,166 2 .7 8

5415 Computer Systems Design and Related Services 9,255 11,576 +2,321 p $110,618 4 .2 4

7225 Restaurants and Other Eating Places 7,771 9,024 +1,254 p $22,519 0.65

5242 Agencies, Brokerages, and Other Insurance Related Activities 2,991 4,169 +1,178 p $88,886 2 .2 2

5416 Management, Scientific, and Technical Consulting Services 4,820 5,911 +1,091 p $111,047 2 .7 3

5616 Investigation and Security Services 4,815 5,718 +903 p $46,480 4 .5 1

5222 Nondepository Credit Intermediation 8,942 9,843 +901 p $88,588 1 1 .6 2

5511 Management of Companies and Enterprises 4,979 5,801 +821 p $120,100 1 .9 1

5619 Other Support Services 1,308 2,104 +796 p $53,312 4 .7 1

5241 Insurance Carriers 3,985 4,678 +693 p $94,657 2 .5 1

5171 W ired Telecommunications Carriers 4,733 5,313 +580 q $135,551 6 .0 7

9036 Education and Hospitals (Local Government) 6,104 6,641 +537 p $54,183 0.55

2382 Building Equipment Contractors 2,878 3,369 +492 p $64,304 1.14

5221 Depository Credit Intermediation 4,441 4,930 +490 p $102,222 2 .0 3

4841 General Freight Trucking 3,057 3,525 +468 p $65,391 2 .1 5

4881 Support Activities for Air Transportation 322 777 +456 q $40,436 3 .0 8

5112 Software Publishers 2,363 2,805 +442 p $151,315 6 .5 4

4249 Miscellaneous Nondurable Goods Merchant W holesalers 536 951 +415 p $61,410 1 .9 3

4411 Automobile Dealers 1,428 1,813 +385 p $64,743 1.05

6216 Home Health Care Services 1,424 1,740 +315 p $25,747 0.91

5172 W ireless Telecommunications Carriers (except Satellite) 973 1,284 +311 q $107,843 5 .7 1

6111 Elementary and Secondary Schools 1,256 1,561 +305 p $48,376 1.08

4529 Other General Merchandise Stores 855 1,138 +283 p $27,753 0.44

2373 Highway, Street, and Bridge Construction 430 702 +273 p $62,693 1 .6 0

5413 Architectural, Engineering, and Related Services 3,283 3,550 +267 q $105,817 1 .6 6

5615 Travel Arrangement and Reservation Services 480 745 +265 p $53,881 2 .4 6

5223 Activities Related to Credit Intermediation 617 874 +257 p $79,038 2 .1 0

5239 Other Financial Investment Activities 756 988 +232 p $176,616 1 .3 9

5313 Activities Related to Real Estate 2,123 2,351 +228 p $66,183 2 .2 2


CITY OF IRVING, TX


WORKFORCE AND OCCUPATIONAL ANALYSIS

FIGURE 29. AGE STRUCTURE IRVING HAS A RELATIVELY HIGH PROPORTION OF WORKING AGE ADULTS

Irving has a much higher percentage of young adults (age 20 to 34) than regional, state, and US averages.

Source: US Census Bureau, Population Estimates Program; 2009-2013 American Community Survey 5-Year Estimates.

FIGURE 30. EDUCATIONAL ATTAINMENT IRVING HAS A WELL-EDUCATED POPULATION AT THE UPPER END OF THE SPECTRUM

The city has a higher percentage of residents with bachelor’s degrees or higher than regional, state, and national

rates. However, Irving also has a relatively high percentage of residents without a high school education.


CITY OF IRVING, TX


FIGURE 31. DISTRIBUTION OF EMPLOYMENT BY OCCUPATION, 2014 SHARE OF TOTAL EMPLOYMENT BY MAJOR OCCUPATIONAL GROUP

Irving has a substantially higher percentage of jobs in office and professional occupations than the Dallas-Fort

Worth metro area, Texas and the US. The city a relatively large share of workers in these occupations: office &

administrative support (21.5 percent of all jobs); business & financial operations (8.7%); computer & mathematical

(7.9%); and management (5.8%). Irving has a relatively low percentage of workers in these occupations: healthcare

practitioners & technical (3.2%); education, training, & library (3.1%); and healthcare support (1.3%).


SOC Code & Description

43-0000 Office & Administrative Support 2 1 .5 % 1 7 .3 % 1 5 .9 % 1 5 .3 %

41-0000 Sales & Related 1 1 .3 % 1 1 .1 % 1 0 .6 % 1 0 .4 %

13-0000 Business & Financial Operations 8 .7 % 5.7% 4.5% 4.9%

15-0000 Computer & Mathematical 7.9% 3.7% 2.7% 2.6%

53-0000 Transportation & Material Moving 7.0% 7.0% 6.7% 6.4%

11-0000 Management 5.8% 5.0% 4.9% 5.3%

35-0000 Food Prep. & Serving Related 5.2% 8 .0 % 8 .2 % 8 .2 %

49-0000 Installation, Maintenance, & Repair 4.7% 4.1% 4.3% 3.8%

51-0000 Production 4.0% 5.5% 5.6% 6.0%

47-0000 Construction & Extraction 3.8% 4.8% 5.9% 4.4%

29-0000 Healthcare Practitioners & Technical 3.2% 4.8% 4.8% 5.4%

25-0000 Education, Training, & Library 3.1% 5.1% 5.7% 5.8%

37-0000 Building/ Grounds Cleaning & Maint. 2.8% 3.6% 3.6% 3.8%

33-0000 Protective Service 2.2% 2.2% 2.3% 2.2%

39-0000 Personal Care & Service 2.2% 3.5% 4.2% 3.9%

17-0000 Architecture & Engineering 2.1% 1.9% 2.0% 1.7%

27-0000 Arts, Entertainment, & Media 1.4% 1.5% 1.3% 1.7%

31-0000 Healthcare Support 1.3% 2.2% 2.4% 2.8%

19-0000 Life, Physical, & Social Science 0.7% 0.5% 0.7% 0.8%

21-0000 Community & Social Service 0.5% 1.1% 1.2% 1.6%

23-0000 Legal 0.4% 0.8% 0.7% 0.8%

55-0000 Military 0.3% 0.5% 1.4% 1.3%

45-0000 Farming, Fishing, & Forestry 0.1% 0.1% 0.5% 0.7%

Irving

Da lla s-Fort


CITY OF IRVING, TX


FIGURE 32. CONCENTRATION OF EMPLOYMENT BY OCCUPATION, 2014 LOCATION QUOTIENT (LQ) ANALYSIS BY MAJOR OCCUPATIONAL GROUP, US=1.00

Irving’s most highly concentrated occupational category is computer & mathematical workers (an LQ of 3.01) thank

to the city’s large presence of major technology companies (Microsoft, NEC, Oracle, and others). This is a major

area of strength that can be leveraged to support the expansion of existing technology firms and the attraction of

new technology companies. The city also has occupational strengths in business & financial operations (1.78);

architecture & engineering (1.40); and office & administrative support (1.28).


SOC Code & Description

15-0000 Computer & Mathematical 3 .0 1 1 .3 9 1.01 1.00

13-0000 Business & Financial Operations 1 .7 8 1.17 0.93 1.00

17-0000 Architecture & Engineering 1 .4 0 1.13 1.04 1.00

43-0000 Office & Administrative Support 1 .2 8 1.17 1.19 1.00

53-0000 Transportation & Material Moving 1.24 1.09 1.12 1.00

49-0000 Installation, Maintenance, & Repair 1.10 0.95 0.93 1.00

47-0000 Construction & Extraction 1.09 1.09 1.04 1.00

41-0000 Sales & Related 1.08 1.06 1.02 1.00

35-0000 Food Prep. & Serving Related 0.97 0.97 1.04 1.00

33-0000 Protective Service 0.86 1.08 1 .3 4 1.00

23-0000 Legal 0.81 0.87 0.76 1.00

11-0000 Management 0.80 0.67 0.86 1.00

37-0000 Building/ Grounds Cleaning & Maint. 0.73 0.93 0.95 1.00

51-0000 Production 0.67 0.92 0.92 1.00

29-0000 Healthcare Practitioners & Technical 0.64 0.98 1.00 1.00

39-0000 Personal Care & Service 0.60 0.90 0.90 1.00

25-0000 Education, Training, & Library 0.56 0.89 1.07 1.00

27-0000 Arts, Entertainment, & Media 0.53 0.89 0.99 1.00

31-0000 Healthcare Support 0.47 0.97 0.86 1.00

21-0000 Community & Social Service 0.45 0.77 0.86 1.00

19-0000 Life, Physical, & Social Science 0.29 0.67 0.72 1.00

55-0000 Military 0.19 0.36 1.05 1.00

45-0000 Farming, Fishing, & Forestry 0.07 0.17 0.61 1.00

Irving

Da lla s-Fort


CITY OF IRVING, TX


FIGURE 33. IRVING RELATIVE MEDIAN HOURLY WAGE RATES OCCUPATION, 2014 IRVING WAGES PRESENTED IN THE CONTEXT OF US WAGE RANGE

Line = US wage range from 10th to 90th percentile; Markers = median hourly wage rates for US (x) and Irving (dot)

Irving’s wages are generally higher than the US median wage, but there are several differences across occupational

categories. The city has significantly higher wages than the US average in the following categories: management;

architecture & engineering; business & financial operations; community & social service; and sales & related

occupations. Irving has significantly lower wages than the US average for the following groups: protective service

(e.g., police and fire); production; and construction & extraction.


CITY OF IRVING, TX


BENCHMARK COMPARISONS

The Dallas-Fort Worth metro area is one of the most competitive environments in the US for economic development.

Irving competes with Dallas, Fort Worth, and dozens of suburbs to capture job growth, capital investment, and tax

base. This section provides comparisons between Irving and a number of other cities in the surrounding metro area

to provide a baseline understanding of how the city’s economy stacks up against competitor communities. The

following cities are included in this benchmark comparison to Irving based two factors: 1) their role as major centers

of employment and population in the Dallas-Fort Worth region; and 2) their status as competitors to Irving.

FIGURE 34. BENCHMARK CITIES IN THE DALLAS-FORT WORTH METRO AREA


BENCHMARK CITY POPULATION (2010) POPULATION (2013) GROWTH RATE (2010-2013)

Allen 84,246 92,020 9.2%

Arlington 365,438 379,577 3.9%

Carrollton 119,097 126,700 6.4%

Dallas 1,197,816 1,257,676 5.0%

Fort Worth 741,206 792,727 7.0%

Frisco 116,989 136,791 16.9%

Irving 216,290 228,653 5.7%

McKinney 131,117 148,559 13.3%

Plano 259,841 274,409 5.6%

Richardson 99,223 104,475 5.3%

CITY OF IRVING, TX


FIGURE 35. NUMBER OF INBOUND/OUTBOUND COMMUTERS, 2011 IRVING HAS THE 2ND HIGHEST AMOUNT OF INBOUND COMMUTERS

Irving has a higher number of inbound commuters than any city besides Dallas, emphasizing its role as a premier

employment center within the metro area.


FIGURE 36. INBOUND/OUTBOUND COMMUTING RATIO*, 2011 IRVING HAS THE 2ND HIGHEST RATIO OF JOBS TO EMPLOYED RESIDENTS

Irving has a higher jobs/employed residents ratio than any city besides Richardson, highlighting the city’s

importance as a major business center.


*A ratio of 1.0 represents an equal number of jobs and employed residents within the city. Cities with inbound/outbound commuting ratios

significantly above 1.0 are centers of employment. Cities with ratios significantly below 1.0 are “bedroom communities” dominated by housing.

CITY OF IRVING, TX


FIGURE 37. POPULATION & MEDIAN AGE IRVING IS A RELATIVELY YOUNG CITY AND IS GROWING MUCH FASTER THAN THE US AVERAGE

Irving’s population grew by 5.7 percent from 2010 to 2013, more than twice the US growth rate of 2.2 percent for

the same period. However, several benchmark cities (especially Frisco, McKinney, and Allen) grew much faster.


FIGURE 38. CIVILIAN LABOR FORCE & UNEMPLOYMENT RATE IRVING HAS A LOW UNEMPLOYMENT RATE AND A RAPIDLY GROWING LABOR FORCE

Irving’s labor force grew by 7.4 percent from 2010 to 2014, more than 7 times the US rate during that period.


City 2 0 1 0 2 0 1 3 N et Chg. % Chg.

Frisco 116,989 136,791 +87,022 +16.9% 34.5

McKinney 131,117 148,559 +6,115 +13.3% 33.0

Allen 84,246 92,020 +7,774 +9.2% 35.1

Fort W orth 741,206 792,727 +8,221 +7.0% 31.5

Carrollton 119,097 126,700 +118,346 +6.4% 36.2

Irving 216,290 228,653 +12,363 +5.7% 31.6

Plano 259,841 274,409 +6,115 +5.6% 37.5

Richardson 99,223 104,475 +5,252 +5.3% 36.5

Dallas 1,197,816 1,257,676 +15,481 +5.0% 32.0

Arlington 365,438 379,577 +30,221 +3.9% 32.0

US 3 0 9 .3 M 3 1 6 .1 M +6 .8 M +2 .2 % 3 7 .3

2 0 1 0 to 2 0 1 3 Media n

Age

City N et Chg. % Chg.

Frisco 216,700 63,017 74,702 +11,685 +18.5% 3.0

McKinney 78,446 68,048 78,040 +9,992 +14.7% 3.5

Allen 614,034 45,446 50,447 +5,001 +11.0% 3.5

Fort W orth 184,477 357,927 390,808 +32,881 +9.2% 4.1

Carrollton 270,044 69,266 75,007 +5,741 +8.3% 3.6

Plano 320,546 142,951 153,708 +10,757 +7.5% 3.8

Irving 1,023,182 115,709 124,307 +8,598 +7.4% 3.9

Richardson 320,546 53,124 56,910 +3,786 +7.1% 3.9

Dallas 843,675 600,009 638,792 +38,783 +6.5% 4.3

Arlington 911,785 193,018 205,170 +12,152 +6.3% 4.1

US 1 5 6 .2 M 1 5 3 .9 M 1 5 5 .4 M +1 .5 M +1 .0 % 5 .8

Current* 2 0 1 0 2 0 1 4

2 0 1 0 to 2 0 1 4 Unemployment

Ra te (Feb. 2 0 1 5 )

CITY OF IRVING, TX


FIGURE 39. RACIAL DIVERSITY (WHITE POPULATION AS PERCENT OF TOTAL), 2013 IRVING HAS A MORE DIVERSE POPULATION THAN MOST OF ITS BENCHMARKS

Irving’s white population makes up only 30 percent of the city’s total population, making the community much more

diverse than most of the benchmark cities.


FIGURE 40. FOREIGN-BORN POPULATION (AS PERCENT OF TOTAL), 2013 IRVING HAS A MUCH HIGHER LEVEL OF FOREIGN-BORN RESIDENTS THAN ITS BENCHMARKS CITIES

More than one-third (34 percent) of Irving’s residents were born outside the US, making the community far more

international than any of the benchmark cities.


CITY OF IRVING, TX


FIGURE 41. PERCENT OF POP. (AGE 25+) WITH BACHELOR’S DEGREE OR HIGHER, 2013 MORE THAN ONE-THIRD OF IRVING’S ADULT RESIDENTS HOLD A BACHELOR’S DEGREE OR HIGHER

The city has a higher percentage of adults with a bachelor’s degree or higher than Dallas, Arlington, and Fort Worth,

but is not as well-educated as most of the benchmark cities.


FIGURE 42. PERCENT OF POP. (AGE 25+) WITHOUT HIGH SCHOOL DIPLOMA, 2013 MORE THAN 20 PERCENT OF IRVING’S ADULT RESIDENTS LACK A HIGH SCHOOL EDUCATION

Only Dallas and Fort Worth have a higher percentage of adults without a high school diploma than Irving.


CITY OF IRVING, TX


FIGURE 43. K-12 STUDENT PERFORMANCE, 2014 IRVING ISD IS THE LOWEST-PERFORMING SCHOOL DISTRICT AMONG THE BENCHMARKS

Irving ISD ranks 844th among 965 total school districts in Texas according to its test scores as reported by School

Digger. Three of the benchmark districts (Frisco, Allen, and Coppell) rank in the top 10 percent o.

Source: School Digger

FIGURE 44. HOUSING PERMITS ISSUED PER 1,000 RESIDENTS, 2010-2014 IRVING HAS ADDED NEW HOUSING AT A SLOWER PACE THAN MOST OF THE BENCHMARK CITIES

The city added new housing units (including all single-family and multi-family) from 2010-2014 at a faster pace than

Dallas, Plano, and Arlington, but slower than most of the benchmark cities.

Source: US Dept. of Housing and Urban Development, Building Permits Database.

School District

2 0 1 4 Ra nk (of 9 6 5

Districts in Tex a s)

N umber of

Students 2 0 1 4 Ra nk Score

Ra nk Cha nge

(from 2 0 1 3 )

Frisco ISD 20 42,707 0.925 -7

Allen ISD 37 19,894 0.894 -15

Coppell ISD 66 10,999 0.853 +2

Plano ISD 152 55,185 0.760 -1

McKinney ISD 259 24,443 0.674 -30

Richardson ISD 312 38,043 0.634 -27

Carrollton-Farmers Branch ISD 375 26,385 0.591 -30

Arlington ISD 665 65,001 0.379 -60

Dallas ISD 689 158,919 0.361 -29

Fort W orth ISD 761 83,419 0.296 -32

Irving ISD 8 4 4 3 5 ,0 3 0 0 .2 1 8 -1 5

CITY OF IRVING, TX


FIGURE 45. WALKABILITY IRVING HAS A HIGHER WALKSCORE (FROM 1 TO 100) THAN MOST OF ITS COMPETITOR CITIES

Walk Score is a ranking between 0 and 100 that grades the walkability of cities and neighborhoods across the US

using a patented system that analyzes data from a wide range of sources. Irving has a Walk Score of 42, higher

than all of the benchmarks cities except Dallas. The southern section of Irving is the most walkable part of the city.

Source: Walk Score

Documents

SWOT Economic Assessment - CITY OF IRVING, TX