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  • 8/7/2018

    DFW’s Regional Workforce: One of Our Most Valuable Assets

    Here in thriving Collin County, Texas, we are fortunate to be a part of one of the strongest job markets and workforce regions in the country. Yes, in North Texas we view our large, well-educated workforce as a regional asset — one regional labor market rather than a number of individual cities whose employees are based primarily within their respective borders. This approach is as beneficial to employers as it is to employees.

    To support our valuable regional asset, Workforce Solutions of North Central Texas oversees business-driven talent development strategies that promote economic growth, opportunity and a quality workforce in a 14-county area. In addition, the Dallas-Fort Worth Regional Workforce Leadership Council (RWLC) was organized in 2002 as the driving force for a collaborative approach to providing workforce solutions across the region. The RWLC brings together local business, workforce, chamber and academic leaders to create and maintain a borderless, seamless and accessible workforce system. The award-winning organization and its members have been recognized for their innovative programs and have received more than $50 million in grants for training and educational initiatives.
     
    This commitment to a regional workforce is clearly paying off in DFW, which, according to the U.S. Census, added 146,000 new residents in 2017, with about half of them moving here from other areas of the U.S. Our area has gained nearly a million new residents since 2010, including a 9 percent expansion of the millennial population.
     
    Fairview itself draws from a workforce pool of more than 353,000 employees within a 20-minute radius. And the population of Collin County alone is expected to increase by more than 780,000 by 2040.
     
    Employers as well as employees flock to this region for a number of reasons, beginning with our ample, economical real estate and lower taxes. In fact, Texas is one of only four states that do not have a corporate income tax and one of only seven without an individual state income tax.
     
    Productive and Educated Talent
    Texas recently claimed the top spot in CNBC’s 2018 America’s Top States for Business rankings, making our state the first four-time winner in the study’s 12-year history.
    With workforce being the most heavily weighted category in the study, the Lone Star State also ranked in the top 10 for “winning the war for talent,” noted for being home to America’s most productive workers.
     
    But they’re not just productive; we reap the rewards of an educated workforce, too, with some 30 colleges and universities located within a 60-mile radius of Fairview. Of the residents in our area, 34.08% hold bachelor’s degrees (compared to 19.26% nationally) and 18.86% have earned advanced degrees (compared to 11.76% nationally) in a wide range of sought-after disciplines.
     
    Many Roads Lead to Fairview, Texas
    I’m not going to claim that all roads lead to Fairview, but — both figuratively and literally — many roads certainly do. Our location at U.S. Highway 75 (North Central Expressway) and Texas State Highway 121 makes it convenient for workers to get to and from Fairview. Employers here have the advantage of drawing from a workforce coming from both rural and urban areas.
     
    Access to a large, diversified and educated workforce is not the only thing Fairview has going for it, but it’s such an important asset in our local and regional economy that we want to tell you more about it in future posts.
     
    —Ray Dunlap, Fairview Economic Development Corporation
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