The forecast for Dallas has not changed significantly since our last report.
It is set to be steady and reliable for at least the next three years. Commercial projects are, however, on the decline. The commercial sector will likely shrink by just over 7% this year, although this is expected to be offset by growth in the infrastructure sector. Healthcare, manufacturing, education, and infrastructure are all expected to grow through 2024 and provide about half of all volume.
The city of Dallas is hoping to bring in business travelers and convention-goers by investing in a new convention center downtown. The project, which will break ground in 2024 and open in 2028, will be attached to the existing Kay Bailey Hutchinson Convention Center Dallas. Once complete, it will attract even larger trade shows and events – and their attendees – to the Dallas-Fort Worth area and add to the local economy.