Read verified reviews from business owners, find state/local incentives, and understand key decision data.

Target Industries

Advanced Manufacturing

A fit for Advanced Manufacturing based on resources, affordability, and strong transportation networks.

BioTech and Life Sciences

Dallas's appeal for biotech and life sciences is bolstered by institutions like the University of Texas Southwestern Medical Center and programs like the Cancer Prevention and Research Institute of Texas (CPRIT).

Information Technology

Dallas attracts IT companies with its robust tech ecosystem, featuring renowned institutions like the University of Texas at Dallas and a thriving business environment supported by initiatives like the Texas Emerging Technology Fund.

Tax Rates

Sales Tax: The sales tax rate is 8.25%, equating to $8.25 per $100 spent.

 

Corporate Income Tax: Texas does not impose a corporate income tax, resulting in a 0% rate and $0 per $100 of income.

 

Property Tax: The property tax rate varies, but a common rate is approximately 2.18%, which translates to $2.18 per $100 of assessed property value.

Reviews

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Business Incentives

City of Dallas Business Incentives

  • Focus: Enhances Dallas's economic strategies and competitiveness.
  • New Tools: Introduces a living wage standard, simplifies processes for small developers, creates a fund for infrastructure, and targets specific regions for investment.
  • Target Areas: Directs programs and incentives to state-designated Enterprise Zones, identified as economically distressed census block groups.

Infrastructure Investment Fund

  • Purpose: Addresses infrastructure needs, focusing on under-served areas, especially in southern Dallas.
  • Funding Method: Utilizes Tax Increment Financing (TIF) program; allocates annual increment value from a TIF district's final year to the IIF for 10 years post-expiration.
  • Projected Funds: Estimated to generate about $200 million over the next decade.

Dallas Development Fund (DDF) and New Markets Tax Credits (NMTC):

  • Oversight: Managed by the City of Dallas Office of Economic Development.
  • Function: Allocates NMTC from the US Department of the Treasury for community development.
  • Establishment: Formed in 2009 as a nonprofit affiliated with the Office of Economic Development.
  • Purpose: Provides equity funding for projects in historically underserved communities, focusing on real estate, corporate expansion, and social services.
  • Investment Model: Investors buy federal income tax credits from CDEs, equivalent to 39% of their investment, spread over seven years, to support NMTC-qualified projects.

Business Climate Overview

Dallas, Texas, is a vibrant city located in the northern part of the state. It is strategically positioned with easy access to major highways, including Interstate 35E, which runs north-south through the city, and Interstate 20, which runs east-west. Dallas is also in close proximity to Fort Worth, with the two cities forming the bustling Dallas-Fort Worth metroplex, one of the largest and most dynamic metropolitan areas in the United States.

Demographics: Dallas boasts a diverse and growing population, with a significant workforce that contributes to its thriving economy. The city's workforce is well-educated and diverse, reflecting the multicultural character of Dallas. This diversity is a key strength, providing a rich cultural fabric and a wide range of skills and talents to the local economy.

Wages: The median household income in Dallas is competitive, reflecting the city's strong economy and the presence of high-paying industries. Meanwhile, the median rent in Dallas offers a range of living options, from luxury apartments to more affordable housing, catering to the diverse needs of its residents.

Key Industries: Dallas is known for its robust economy with key industries including technology, financial services, defense, telecommunications, and transportation. The city is also a major hub for corporate headquarters, with a significant number of Fortune 500 companies choosing Dallas as their home base. This diverse industrial base contributes to the city's economic resilience and growth.

Quality of Life: Dallas offers an exceptional quality of life, with a wide array of recreational and outdoor activities. The city boasts beautiful parks, such as the Klyde Warren Park and the Dallas Arboretum and Botanical Garden, offering residents and visitors alike a place to enjoy the outdoors. Additionally, Dallas is known for its vibrant arts scene, world-class museums, and a wide variety of dining and shopping options, making it a great place to live and work.

Education: The city is home to several top universities and community colleges, including Southern Methodist University (SMU) and the University of Texas at Dallas (UTD), both of which are renowned for their research programs and academic excellence. Dallas County Community College District also offers a wide range of programs and courses, providing valuable education and training resources to the community.

Businesses: Dallas is home to a number of top corporations and companies, including AT&T, Texas Instruments, and Southwest Airlines. The presence of these major companies, along with a supportive ecosystem for startups and small businesses, contributes to the city's dynamic and innovative business environment.

Economic Development Organizations: Several organizations are at the forefront of local economic development in Dallas. The Dallas Regional Chamber and the Dallas Economic Development Corporation play key roles in promoting the city as a prime location for business and investment. These organizations work tirelessly to attract new businesses to the city, support the growth of existing companies, and enhance the overall economic prosperity of the Dallas region.

Map

Dallas, TX image

Our Team

Robin Bentley photo
Robin Bentley

Director, Office of Economic Development at City of Dallas

Kevin Shatley photo
Kevin Shatley

Vice President of Economic Development at Dallas Regional Chamber

Media

  • City of Dallas Economic Development Incentive Policy
  • City of Dallas - Fiscal Year 2023-24 Budget

FAQ

Dallas, a hub for innovation, offers a thriving tech sector supported by institutions like the University of Texas at Dallas. Its strategic location with access to major highways and Dallas/Fort Worth International Airport further enhances its appeal for tech firms.
Dallas provides a supportive environment for startups with its diverse economy and initiatives like the Dallas Entrepreneur Center. The city's network of universities and a strong talent pool create an ideal ecosystem for emerging businesses.
Dallas's economy is diversified with strengths in sectors like technology (home to companies like Texas Instruments), financial services (boasting firms like Comerica Bank), healthcare (supported by renowned institutions like Baylor University Medical Center), defense, and telecommunications (with major players like AT&T).
Dallas, home to major companies like Comerica Bank, benefits from a robust financial sector, enhanced by a strong regulatory framework and a diverse talent pool from institutions like SMU's Cox School of Business.
Healthcare innovation in Dallas is driven by facilities like the Texas Medical Center and initiatives such as the Texas Emerging Technology Fund, attracting cutting-edge healthcare companies and startups.
Dallas supports these sectors through a combination of strategic location, presence of companies like AT&T, and partnerships with universities like UT Dallas for research and development.
Businesses in Dallas benefit from tax incentives like the Texas Franchise Tax, which offers favorable rates for various business activities, and specific property tax rates for commercial and industrial development.
Dallas's workforce, marked by high education levels and a significant percentage in STEM fields, provides a competitive edge to businesses across various sectors.