Economy
10:48 am
Tue December 11, 2012

Four Takeaways From Mayor Rawlings' Economy Speak

Dallas Mayor Mike Rawlings says the city’s diverse economy and easy access to both coasts help explain why the Brookings Institution lists Dallas as one of just three cities to fully emerge from the recession.

In an interview with John Hockenberry on The Takeaway, Rawlings cites Dallas’ other key elements and economic engines.

Energy, technology: "We are not just an energy city. Obviously energy is part of it, being in Texas. But we’re the largest technology employer in Texas. AT&T moved here. We’ve got Texas Instruments. Samsung’s got their North American headquarters here. Microsoft. A lot of  start-ups. What’s happening with everybody’s cell phone, and what it’s turning into, we see that as big growth opportunity for us."

Logistics, medical services: "Logistics is a big part. We’re centrally located in the United States. So we just got L’Oreal – it put a new logistics hub in. It (Dallas) is an easy place to do business. We’ve got two great airports with Dallas/Fort Worth and Love Field. You can get to either coast and back in the same day.  Medical services are a big part of our economy as well. So when you have that much going for you – all those are growth industries in the United States and we want to lead in those areas."

Tax policy: "A lot of people come to Dallas because there’s no state income tax. In short, you can work a month for yourself and not for the state. And that’s helped us a lot."

Life in the city:  "We’ve invested over a billion dollars in an arts complex. We’ve got the largest contiguous arts complex in the United States. Parks, a beautiful bridge, making sure that lifestyle is good, that we can do both business and the quality of life."

The Brookings Institution reports that Pittsburgh, Penn., and Knoxville, Tenn., are the other cities now out of the recession. The Takeaway is interviewing the mayors of each city this week.