Page 84 - Southlake FY22 Budget

CITY PrOFILE

Southlake, Texas: At-A-Glance

The City of Southlake, Texas Labor Force & Economic Base
Websites: Labor pool ages 20-64:
--CityofSouthlake.com --Within 5 miles of Southlake: 70,471
--MySouthlakeNews.com --Within 10 miles of Southlake: 292,298
--VisitSouthlakeTexas.com --Within 20 miles of Southlake: 1,423,533
--TheMarqSouthlake.com Employment by occupation:
22.5 square miles -- 62.9% Managerial/Professional
Located in the heart of the DFW Metroplex -- 25.8% Sales & Office
Centrally located between DFW International Airport (5 -- 5.0% Service Occupations
miles east) and Fort Worth Alliance Airport (8 miles west) -- 1.8% Construction/Maintenance
-- 4.4% Production/Transportation
Demographics Approx. 2,600 businesses and non-profit organizations
Current Population projection: 31,199 Over 15 million square feet of commercial space
Projected build-out population: 34,188 Texas is a “Right-to-Work” state
Population by age: Texas has no state personal income tax
--Under 24 years - 35%
--25-64 years - 54%
--65 years and older - 11% Transportation
2020 median age: 42.6 Major highways are SH 114, FM 1938, and FM 1709
2020 average persons per household: 3.34 SH 114 connects to I-35W and I-35E
2020 average household income: $232,533 Airports:
2020 average home sales price: $962,285 DFW International - DFWAirport.com
69% of residents 25 years and older have a bachelor’s --Fourth busiest passenger airport in the world, over
degree or higher 39.4M passengers in 2020 (47.5% lower than prior year
due to the pandemic)
Financial Status --Generates $37B annually for North Texas economy
City Bond Ratings --Provides over 228,00 area jobs
--“AAA” from Standard and Poor’s --First carbon neutral airport in North America, largest in
--“AAA” from Fitch IBCA the world
8.25% total sales tax rate - includes 0.5% for parks, --Every major city in the continental United States
0.375% for economic development and 0.125% for crime can be accessed within four hours
control district --Home to American Airlines hub
--Access to Dallas Area Rapid Transit (DART) mass transit
Top Employers system
Sabre Holdings - 2,550 Employees --Access to TEXRail commuter rail system
TD Ameritrade - 2,230 Employees --Air Transport World’s 2019 Global Airport of the Year
Carroll ISD - 1,176 Employees
Verizon Wireless - 685 Employees Fort Worth Alliance Airport - AllianceAirport.com
Keller Williams - 650 Employees --The nation’s first industrial airport
Gateway Church - 600 Employees --Provides over 63,000 area jobs
--Part of an 27,000-acre mixed-use, master planned
Top Non-Residential Taxpayers development
Town Square Ventures LP --Houses more than 530 companies
Verizon Wireless
TD Ameritrade
Sabre Headquarters LLC
Wyndam Properties Ltd BUDGET BOOK | FY 2022 City of Southlake 83
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