Page 78 - Southlake FY23 Budget

CITY PROFILE

Southlake, Texas: At-A-Glance

The City of Southlake, Texas
Websites: Labor Force & Economic Base
--CityofSouthlake.com Labor pool ages 20-64:
--MySouthlakeNews.com --Within 5 miles of Southlake: 78,201
--VisitSouthlakeTexas.com --Within 10 miles of Southlake: 307,390
--TheMarqSouthlake.com --Within 20 miles of Southlake: 1,580,078
22.5 square miles Employment by occupation:
Located in the heart of the DFW Metroplex -- 38.9% Managerial/Professional
Centrally located between DFW International Airport (5 -- 22.7% Sales & Office
miles east) and Fort Worth Alliance Airport (8 miles west) -- 4.2% Service Occupations
-- 1.6% Construction/Maintenance
Demographics -- 4.7% Production/Transportation
Current Population projection: 31,684 Approx. 2,793 businesses and non-profit organizations
Projected build-out population: 34,188 Over 15 million square feet of commercial space
Population by age: Texas is a “Right-to-Work” state
--Under 24 years - 37.2% Texas has no state personal income tax
--25-64 years - 51.8%
--65 years and older - 16.6%
2022 median age: 43.0 Transportation
2022 average persons per household: 3.25 Major highways are SH 114, FM 1938, and FM 1709
2022 average household income: $265,839 SH 114 connects to I-35W and I-35E
2022 average home sales price: $1,482,182 Airports:
74% of residents 25 years and older have a bachelor’s DFW International - DFWAirport.com
degree or higher --Fourth busiest passenger airport in the world, over
62.5M passengers in 2021 (58.7% higher than prior year)
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
--”AAA” from Moody’s --Every major city in the continental United States
8.25% total sales tax rate - includes 0.5% for parks, can be accessed within four hours
0.375% for economic development and 0.125% for crime --Home to American Airlines hub
control district --Access to Dallas Area Rapid Transit (DART) mass transit
system
Top Employers --Access to TEXRail commuter rail system
Sabre Holdings - 2,200 Employees --Air Transport World’s 2019 Global Airport of the Year
TD Ameritrade - 2,867 Employees
Carroll ISD - 1,176 Employees Fort Worth Alliance Airport - AllianceAirport.com
Gateway Church - 706 Employees --The nation’s first industrial airport
Keller Williams - 650 Employees --Provides over 63,000 area jobs
Verizon Wireless - 650 Employees --Part of an 27,000-acre mixed-use, master planned
development
Top Non-Residential Taxpayers --Houses more than 530 companies
Town Square Ventures LP
Verizon Wireless
TD Ameritrade
Wyndam Properties LTD
Carroll/1709 LTD

BUDGET BOOK | FY 2023 City of Southlake 77
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