According to the Dallas Business Journal, Dallas-Fort Worth is one of the fastest-growing construction markets in the country, and for a good reason: it’s a booming market with a strong economy, lots of construction projects, and many job opportunities for construction professionals.
But what makes it so attractive for people looking to start a construction LLC in Texas? What makes this area such a booming construction and construction job market?
We’re not just talking about the raw numbers—we’re talking about the fact that Dallas-Fort Worth is a region primed for success in the construction industry. The area has many construction projects across the board: from commercial buildings to homes to highways.
If you’re curious about why the Dallas-Fort Worth area is quickly becoming one of the fastest-growing construction jobs markets, keep reading to learn about some core factors that could be driving this growth now and into the future:
1. Increased demand for housing
According to data from the US Census Bureau, the Dallas-Fort Worth area is one of only three metropolitan areas in the US to record as many as 1.2 million residents over the last ten years. This consistent population growth means more people are moving into this area from other parts of the country and overseas.
This influx of new residents has increased demand for housing, commercial real estate, and development projects requiring skilled construction workers. The demand for housing is so high that a report from the Dallas Observer shows that the Dallas-Fort Worth area needs 19,000 apartment units annually to meet this demand.
In addition to increased residential construction jobs to meet this demand, more opportunities are available for nonresidential projects such as office buildings or shopping centers. All these factors increase opportunities for skilled laborers who have experience working on various construction projects.
2. Road and Infrastructure development
Texas is a large state with a growing population and a high demand for infrastructure.
According to the Texas Department of Transportation, the state has several interstate highways that need updating, roads that need improving, and bridges that need building. In addition, the state needs to expand and update many airports and seaports and keep investing in infrastructure, like the intended hyperloop transportation system.
Because of the population growth experienced in the Dallas-Fort Worth area, demand for better infrastructure has increased, further increasing the availability of opportunities in construction. The area’s infrastructural development has further facilitated the movement of people and goods across and within state lines.
All these changes are creating more job opportunities across the board, but construction workers who can handle heavy equipment, such as bulldozers and backhoes, are in high demand.
3. Low cost of living
The Dallas-Fort Worth area is also home to some of the largest cities in Texas: Dallas and Houston. Over the years, these cities have consistently attracted new residents and businesses because they offer many benefits, including lower living costs, great weather, and top-notch schools.
With an estimated total cost of living of $1,544 and ranked at number 48—out of 74— on Move’s list of most populous cities with the lowest cost of living, Dallas-Fort Worth has a lower cost of living than most other US cities.
This lower or medium-level cost of living allows residents to have a good lifestyle while still managing to pay their bills. And because the area has low unemployment rates and rising demand for construction workers, more and more people are moving to Fort Worth, driving growth in the process.
The low cost of living in this region means that it is an attractive place for businesses to locate and operate because there are no requirements for expensive office space or equipment, which leads to job opportunities for the residents.
4. A boom in oil and gas production
The oil and gas industry is a significant contributor to the economic growth of the Dallas-Fort Worth Area. The energy sector accounts for a large portion of the economic activity in the area, and oil and gas production has increased construction jobs.
Construction workers are often essential during oil and gas drilling, pipeline laying, or building refineries. Because Dallas-Fort Worth is a leading player in this industry, the need for qualified construction workers will always be high.
These are some of the leading factors why Dallas-Fort Worth has such a favorable market for construction workers.