Grand Prairie, TX Economic Overview
Located in the center of the Dallas-Fort Worth Metroplex, Grand Prairie is home to over 183,000 people and a daily workforce of nearly 91,000 employees. This 81-square-mile city is also one of the most business friendly in the region, proactively seeking commercial capital investments of all types. Due to its central location between Dallas and Fort Worth and with easy access to air and highway transportation infrastructure, the growth of commercial real estate in Grand Prairie is driven by its reputation as one of the most well-established distribution centers in North Texas.
The Grand Prairie Economic Development Department aggressively seeks out new development and new opportunities for business, and has a proven track record of success. Job growth in Grand Prairie was nearly 3% last year, with a 41% increase in employment projected over the next 10 years.
With a median household income of over $56,000 and an unemployment rate of just 4%, workers are attracted to the myriad of job opportunities created by the warehouse, distribution and manufacturing businesses that are located in Grand Prairie. The I-30 and I-20 Interstate corridors have become magnets for corporate locations and have seen significant retail and entertainment development.
Grand Prairie, TX Commercial Real Estate Market
The City is dedicated to commercial real estate development, providing a place to start or expand a business and also offering a pleasant way of life for its residents. The City offers numerous development incentives, including an Industrial Incentive Program, Real Property and Business Personal Property Tax Abatements, County Tax Abatements, Triple Freeport Tax Exemptions, Accelerated Permit Review and Streamlining, Tax Increment Financial Districts and access to numerous State of Texas development and economic programs.
Grand Prairie is a well-established distribution center, due to its centralized Metroplex location and access to a highly integrated transportation infrastructure. The 80 million-square-foot Great Southwest Industrial District lies mainly in the city and provides commercial and industrial tenants in Grand Prairie quick and easy access to the Dallas-Fort Worth International Airport, the sprawling local marketplaces of both Dallas and Fort Worth, as well as access to railroad and highway transportation.
Because of the City's balanced approach to business and residential population, recent industrial, hotel and multi-family residential projects in Grand Prairie have absorbed large tracts of land near the Great Southwest Industrial District, while the hill country at the southernmost end of the City has attracted high-end residential housing and resort development.
The growth of the industrial market in the Metroplex where Grand Prairie is located is driven by numerous factors, including the proximity to major U.S., Canadian and Mexican markets, both short- and long-haul trucking, warehousing and logistics. The world's first industrial airport, transporting cargo only, is located in Dallas, and along with two intermodal rail yards and links to highways add to the transportation infrastructure. The Great Southwest Industrial District, located primarily in Grand Prairie, and the Alliance Texas Industrial Park in North Dallas have a combined 110 million square feet of industrial space.
There is over 230 million square feet of office product in the area, ranging from large multi-tenant buildings to smaller space in the numerous suburban office parks. Main users of office space in Grand Prairie and the Metroplex include both traditional and green energy firms, banking & financial services, aerospace and telecommunications firms.
Dynamic retail development continues in the area, driven by the demand from residential and business needs and the availability of land near Grand Prairie and the surrounding suburbs. There are several shopping centers that boast more than 1 million square feet each, all with very low vacancies, and almost all major national and international brands can be found in the shopping centers, malls and storefronts here.
Grand Prairie, TX Commercial Inventory Breakdown
Office Spaces
Total: 1,165,102 SF
By square footage range:
- 50k to 100k SF: 663,421 SF / 56.94% of total office
- 100k to 500k SF: 501,681 SF / 43.06% of total office
By class:
- Class B: 624,950 SF / 53.64% of total office
- Class C: 390,152 SF / 33.49% of total office
Industrial
Total: 62,225,783 SF
By square footage range:
- 50k to 100k SF: 5,242,915 SF / 8.43% of total industrial
- 100k to 500k SF: 38,116,983 SF / 61.26% of total industrial
- 500k to 1M SF: 10,270,302 SF / 16.5% of total industrial
- > 1M SF: 8,595,583 SF / 13.81% of total industrial
By class:
- Class A: 32,767,167 SF / 52.66% of total industrial
- Class B: 24,579,257 SF / 39.5% of total industrial
- Class C: 1,052,639 SF / 1.69% of total industrial
Office Spaces with Retail
Total: 4,581,378 SF
By square footage range:
- 50k to 100k SF: 1,080,598 SF / 23.59% of total office with retail
- 100k to 500k SF: 3,500,780 SF / 76.41% of total office with retail
Employment in Grand Prairie, TX
Grand Prairie's focus on balancing the needs of its corporate citizens with the lifestyle of its residents has paid off handsomely, with employment expected to increase over 40% during the next 10 years. The labor force in Grand Prairie boast an average salary of nearly $64,000 per year, higher than the national average, as well as the State of Texas and Dallas County, and nearly as high as the residents of the entire Metroplex of Dallas-Fort Worth-Arlington.
Major private employers in Grand Prairie include Lockheed Martin Missiles & Fire Control, Poly-America, Bell Helicopter-Textron, Long Star Park at Grand Prairie, Triumph Aerostructures - Vought Aircraft Division, Republic National Distributing, Walmart, Airbus Helicopter, Forterra Pipe & Products, Siemens Energy & Automation, Pitney Bowes Presort Services, Arnold Transportation Services, and SAIA Motor Freight Line Inc.
Of the over 90,000 workers in Grand Prairie, nearly 13% work in manufacturing, 12% in the retail trades, 10% in healthcare and social services, nearly 8% in construction, over 7% in transportation and warehousing, and over 6% in finance and insurance.
Education in Grand Prairie, TX
The Grand Prairie Independent School District operates 24 elementary schools, seven middle schools and five senior high schools, along with three 6th-through-12th grade schools and one school dedicated to alternative education.
There are numerous colleges and universities within a 50-mile drive of Grand Prairie, offering programs in general business, engineering, business management and medical doctorates. In addition, these schools, along with technical colleges provide business consulting, company-specific employee training, community health care services, computer & information service training, and economic & land development research programs.
Public and private universities near Grand Prairie include the University of Texas at Arlington and at Dallas, Texas Woman's University, University of North Texas, Texas Christian University, Texas Wesleyan University, and Southern Methodist University.
Commuting Time in Grand Prairie, TX
Commuters in Grand Prairie spend a little less than 25 minutes each way driving to and from work, while almost 2% have a 'super commute' of 90 minutes or more. The City offers public transportation for the elderly or disabled members of its community, and over 82% of the labor force commutes to work by automobile.
- The Great Southwest Industrial Park provides infrastructure and industrial transportation in both the Industrial Parks of Grand Prairie and Arlington.
- Grand Prairie is located just 12 miles west of the Dallas central business district and 15 miles east of central Fort Worth.
- Interstate 30 and Interstate 20 both pass through Grand Prairie, running east and west.
- Grand Prairie is located just 10 minutes from the Dallas/Fort Worth International Airport which is situated between Dallas and Fort Worth and is the third-busiest airport in the U.S. for operations. Four feeder or cargo airports surround the Fort Worth-area: Fort Worth Alliance Airport, Fort Worth Meacham International Airport, Fort Worth Spinks Airport and the Naval Air Station Joint Reserve Base.
Grand Prairie Demographics
Population
- Total Population192,565
- Male Population(48.8 %) 93,912
- Female Population(51.2 %) 98,653
- Median Age33.40
Income/Financial
- Average Household Income$81,240
- Median Household Income$67,388
- Median Income Under 25$34,987
- Median Income 25-44$68,349
- Median Income 45-64$77,384
- Median Income Over 65$48,970
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