North Texans Optimistic About Area's Future as a Leading Tech HUB
New Capital One Future Edge DFW Research Suggests Residents Are Preparing for the Surge with Increased Emphasis on Gaining Tech-Related Skills
PLANO, Texas, Oct. 3, 2018 — North Texans are increasingly optimistic about the region growing as a tech hub, and believe this has spurred greater economic opportunity for the area over the past five years – expecting it will only get better, according to the results of a new Capital One Future Edge DFW survey released today at the company's Reimagine Communities Symposium .
The survey revealed a growing perception among DFW residents that North Texas is an attractive, emerging tech hot spot – with 65% believing that major tech companies will grow or increase their presence in DFW over the next decade, a 30% increase from a similar study Capital One released in October 2016. In line with these findings, more than seven-in-ten (71%) DFW millennials, and the majority (53%) of residents overall, are anticipating they will pursue a technology-related career in the next two years, whether it be in the technology sector or a role that uses technology skills in another field. This is substantially higher than national trends (millennials: 64%; entire population 43%).
The purpose of the Capital One Future Edge DFW survey is to better understand residents' views on the future of technological innovation in their community and the evolution of the area's workforce, as well as how DFW area residents' views compared with a national pool of respondents. The results shed light on how both DFW residents and Americans more broadly perceive the intersection of technology and the workforce now and in the decade to come.
Highlights from Capital One's Future Edge DFW survey follow.
Local tech and learning opportunities spike higher than the national average.
DFW residents are positive about the Metroplex's potential to become a thriving technology and innovation hub.
" DFW is well-positioned to become one of the next major U.S. tech hubs, and it is clearly already well on its way ," said Sanjiv Yajnik, President, Financial Services, Capital One."Residents are excited about how tech is transforming the region, which already enjoys great infrastructure to support learning and innovation. We're thrilled to contribute to the region's evolution through our Future Edge DFW initiative, where we are working hand-in-hand with avariety of community partners to support the area's continued growth, innovation and economic vitality."
These survey findings are part of the larger Future Edge DFW effort, focused on helping DFW get ready for tomorrow, today. The new opinion survey is a successor to Capital One's 2016-17 collaboration with independent, not-for-profit research group, Institute for the Future (IFTF) to explore the trends shaping the future of DFW on three dimensions – technology innovations,financial innovations and expectations, and the workforce of tomorrow. A comprehensive study,DFW 2026: Igniting Economic and Cultural Prosperity in North Texas, combining both an initial, quantitative public survey and qualitative IFTF research, was published in early 2017. Nationally, Capital One has made a $150 million commitment over five years to help prepare more Americans with the skills, tools and resources they need to succeed in an ever-changing digitally-driven economy. For more information on what Capital One is doing across the country,join the conversation on Twitter and Facebook. #InvestedInTech
The Capital One Dallas Survey was conducted by Wakefield Research (www.wakefieldresearch.com) among 1,000 nationally representative U.S. adults ages 18+ and500 adults ages 18+ in the Dallas-Ft. Worth DMA, between August 30 and September 6, 2018, using an email invitation and an online survey. Quotas have been set to ensure reliable and accurate representation of the U.S. adult population 18 and older. Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results. For the interviews conducted in this particular study, the chances are 95 in 100 that a survey result doesnot vary, plus or minus, by more than 4.4 percentage points in the Dallas-Ft. Worth sample and 3.1 percentage points in the nationally representative sample from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the samples.
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $248.2billion in deposits and $364.0 billion in total assets as of June 30, 2018. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services toconsumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.