DFW’s consistent industrial job gains have transformed the sector over the last decade
DFW has always been an important logistics hub given its central US location and superior multimodal access.
January 15, 2020
- DFW has always been an important logistics hub given its central US location and superior multimodal access.
- Over the last 20 years, the character of the market has changed considerably. During the tech | telecom boom of the late 1990s, DFW added 10,000 industrial jobs annually, or about 10% of the total new jobs.
- Those modest additions turned negative in 2001. The economic expansion in the mid-2000s also resulted in limited real job growth for the industrial sector despite 50 million square feet of net absorption over the period.
- Since 2011, we’ve added 163,000 new jobs in manufacturing, wholesale trade, and transportation & warehousing.
- That averages out to 18,000 jobs annually – twice the level of gains we saw during the “best” years of the last cycle.
- This industrial job growth has also been consistent, averaging 18% of total new DFW jobs over the period, but also hitting as much as 25% of total job gains.
Source: BLS (jobs through November 2019); JLL Research