A diverse economic base is represented by manufacturing, high-tech, health care, financial, industrial and service-oriented businesses. Five of Irving’s approximately 50 Fortune 500 companies have chosen Irving for their global headquarters: Celanese, Commercial Metals, ExxonMobil, Fluor and Kimberly-Clark. Irving is home to more of the DFW Metroplex’s largest private and public companies than any other city except Dallas, including Citi, Microsoft, Verizon, NEC Corporation, Allstate Insurance Company, Time Warner Cable, RIM (BlackBerry), Aviall, Michaels Stores, Pioneer Natural Resources, CEC Entertainment and TXU Energy.
More than 65 foreign-owned companies operate subsidiaries here, giving Irving the distinction of being the third-leading city in Texas for foreign business investment. The presence of so many notable companies means a low unemployment rate — 5.9 percent compared to 6.9 percent statewide and 8.1 percent nationwide (May 2012) — and an enviable debt ratio. In fact, Irving is one of only a small number of cities in the United States that has earned a double AAA bond rating from both Standard and Poor’s and Moody’s Investors’ Services.
The city provides employment to more than 230,000 business professionals, making it the third-largest employment center in North Texas.
The U.S. Chamber of Commerce recognized five Irving businesses with Blue Ribbon Small Business Awards in 2012: Big State Drug Store, Car Concepts Inc./Rick’s Independent Car Kare, FastSigns, Glory House Catering Company and Larsen Dye Associations. All five are multiple Blue Ribbon award winners. The award recognizes excellent business practices in several areas, including business strategy, employee development, community involvement and customer service.
The Chamber continues to promote its small businesses through creative programs such as the Shop In Irving campaign, a government contract referral program and its Business Resource Center partnership with North Lake College to provide training and programs to businesses at reduced costs.
Travel & Tourism
According to a report by the Irving Convention & Visitors Bureau, 2.66 million visitors came to Irving in 2010, spending $1.24 billion and supporting 12,142 jobs. Hotel revenues in Irving were up about
19 percent in 1Q2011 over the same period in 2010, due in large part to the influx of football fans for Super Bowl XLV in February (both Packers and Steelers personnel also lodged in Irving during Super Bowl week).
Tourism generated nearly $38.1 million in tax revenue for the City of Irving in 2010 — or $461 per Irving household. With $3.4 million in visitor spending on an average day, the annual visitor spending per Irving resident totaled $5,703. If these tourism dollars were not coming into the Irving economy, those monies would have to be made up through resident taxes, so the tourism industry translates into substantial tax savings for Irving families each year.
Irving particularly shines as a destination for business travelers, who made up 85 percent of 2010 visitors. The opening of the Irving Convention Center at Las Colinas has brought even more business travel to the city.
A host of recreational and cultural attractions also reinforce Irving as a popular destination for leisure travelers. The Irving Arts Center, a Smithsonian Affiliate; the revitalized downtown Heritage District; four championship golf courses; abundant dining; and an expansive parks system — and, of course all the attractions of Dallas and Fort Worth, just minutes away — make Irving a visitor’s delight.
Commercial Office Space
Irving-Las Colinas offers an abundance of commercial office space in a variety of settings designed for flexibility and with a host of professional amenities. Irving offers 34.8 million square-feet of office space, 15 million square-feet of retail space and 36.8 million square-feet of light industrial space. The Las Colinas development, home to more than 2,000 companies, offers 24.1 million square-feet of office space, 9.0 million square feet of light industrial space and 1.6 million square feet of retail space.
Located within D/FW International Airport are both a global distribution center featuring 56 cargo carriers in 2.6 million square-feet of space and Foreign Trade Zone No. 39, a Class A business park with direct highway access to SH 114 and a convenient location near I-635. Future development includes a business district along SH 161 south of DFW Airport.
2011 Population Estimate (City of Irving) ………………………………… 216,915
2010 Population (Census) ………………………………………………….. 216,290
Growth: 2000–2010 (Census) ……………………………………………… 12.9%
2010 Dallas County Population (Census) …………………………………. 2,368,139
Dallas/Fort Worth Metro (CMSA) Population (Census) ………………….. 6,371,773
Cost of Living
The ACCRA Cost of Living Index measures relative price levels for consumer goods and services in participating areas. The average for all participating places, both metropolitan and nonmetropolitan, equals 100, and each participant’s index is read as a percentage of the average for all places.
Irving’s Largest Employers
- Aegis Communications Group Inc.
- Microsoft Corp.
- Allstate Insurance Co.
- NEC Corporation of America
- Neiman Marcus Direct
- City of Irving
- DFW International Airport
- Roadway Express Inc.
- Health Management Systems (HMS)
- Verizon Communications
- Irving ISD
- Zale Corporation
- Irving Mall