The Last Word: Dallas Tops Site Selection’s Metro Rankings, ‘Double Shot’ of Life Sciences Investment Adds to Momentum

“Dallas is welcoming a double shot of life sciences investment …”

… via Site Selection Magazine. And that’s just a taste of the region’s success in the publication’s most recent “Top Metros” rankings.

The Dallas-Fort Worth-Arlington metro area claimed the No. 1 spot in Site Selection Magazine’s 2023 Top Metros ranking as the per capita leader, tallying 452 corporate facility location and expansion projects across industries. By total projects, the Dallas region was No. 2 nationally, narrowly edged out only by Chicago with its 485 projects. 

The publication’s annual Top Metros ranking assesses the economic development success of “Tier 1” metro areas with populations over 1 million, based on the number of corporate facility projects secured. The ranking provides a measure of a region’s appeal to expanding or relocating businesses.

The Dallas region is well-known as the home to two dozen Fortune 500 headquarters and 42 in the Fortune 1000. But the publication noted that “Dallas is making a name in biosciences.” Two major developments illustrate this burgeoning life sciences strength: The newly announced ARPA-H (Advanced Research Projects Agency for Health) hub at Pegasus Park, set to focus on customer experience and diversifying clinical trials; and the landmark $5 billion pediatric campus being developed by Children’s Health and UT Southwestern Medical Center in the city’s Southwestern Medical District.

The developments point to the growth propelling Dallas into the top tier of U.S. life sciences hubs. Site Selection noted that the ARPA-H announcement came just seven months after the Dallas Regional Chamber launched a campaign to attract more biotech and life sciences companies to the region.

In the publication, DRC President and CEO Dale Petroskey said the news confirmed “what the Dallas Regional Chamber has known and worked toward for some time now — the Dallas Region is becoming a powerhouse for life sciences and biotechnology innovation.”

Dallas’ strong showing in the Top Metros ranking was part of a Texas trend, as we reported yesterday. The Lone Star State as a whole dominated Site Selection’s 2023 rankings, winning the prestigious Governor’s Cup for a record 12th consecutive year and 20 altogether. The Governor’s Cup recognizes the top-performing state for job-creating business relocations and expansions, with Texas securing 1,254 such projects in 2023—more than double the second-place state.

For more of who said what about all things North Texas, check out Every Last Word.

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