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Fort Worth, Texas Quietly Racking Up Corporate Relocations

Oct 5, 2023

Maybe its the fact that cities including San Francisco, Chicago and others have seen spikes in crime and homelessness, to that the television show Yellowstone has shined an appealing light on the culture of the American west, but Fort Worth, Texas is quietly becoming a new hot spot for corporate relocations, as reported in the Financial Post

"In recent years, Charles Schwab Corp. moved its headquarters to suburban Westlake, where Fidelity Investments has also been expanding. Caterpillar Inc. announced a move to Irving, 25 miles (40 kilometers) east of Fort Worth, last year,” according to the report. "And then there’s the transportation industry, which has long been a driver of the economy. American Airlines Group Inc. is headquartered in Fort Worth along with Bell Textron Inc., a manufacturer of helicopters, and BNSF Railway. Lockheed Martin Corp. produces its F-35 fighter jets in Fort Worth. Ross Perot Jr.’s Fort Worth logistics development, AllianceTexas, contributes billions of dollars to the North Texas economy. The project includes an industrial airport and hubs for FedEx Corp. and Inc."

While Fort Worth had in the past lost out on companies who chose Dallas or other suburbs, now the city has a lower office vacancy rate than it did before the pandemic, according to the article. 

The article cited the city’s mayor’s focus on crime, homelessness and infrastructure as driving factors. But culture may be a key piece, too: 

"In Fort Worth, it’s common to see cowboy hats and boots paired with a tailored suit. Unlike nearby Dallas, which mostly feels like any other major metropolis, Fort Worth embraces its sense of place. There’s plenty of live country music, two-step dancing and Tex-Mex cuisine.”

David Harrison