Report Highlights Dramatic Increases and
Diversification in DFW Population, Middle-Skill Jobs, and Investments in
PLANO, Texas, Jan. 23, 2017 – A report released today by Capital
One – one of DFW's largest employers – and The Institute for the Future (IFTF)
2026: Igniting Economic and Cultural Prosperity in North Texas"
identifies significant trends that will shape the Dallas-Fort Worth (DFW)
metroplex over the next decade. The report documents that while the 16 counties
surrounding Dallas and Fort Worth are home to more than seven million people,
steady population growth is expected to continue into the next decade,
dramatically enhancing the area's cultural, educational and skills diversity.
The North Texas region will also experience some of the fastest growth in
middle-skill jobs – work that requires some postsecondary education – and 80%
of these jobs will require digital skills. At the same time, heavy investments
in digital infrastructure indicate that DFW will rapidly embrace smart city
services and urban innovation.
Released at Capital One's Reimagine Communities symposium, and commissioned as
part of the company's Future Edge DFW initiative, the report provides insights
that could help prepare the DFW community to think creatively about the future
of North Texas and to take deliberate actions today to build a future of
inclusive economic and cultural prosperity. Broken down into drivers of change,
forecasts of change, and countervailing forces the community will need to
address over the next decade, the findings are based on insights collected from
in-depth interviews with a diverse group of DFW business and economic
development leaders, experts from academia, nonprofits and the arts, as well as
a quantitative survey of local residents aimed to gauge attitudes on,
assumptions about, and sense of preparedness for the next decade.
"As a company and a community we need to be grounded in the trends
that will help us determine the best ways to get ready for tomorrow, today,"
said Sanjiv Yajnik, President, Financial Services, Capital One. "Through
Capital One's Future Edge DFW initiative, we're working with a variety of
partners to grow the area's innovation and technology ecosystem that will fuel
our economy and help communities succeed in this rapidly-changing world.
Insights from the report will help us focus these efforts."
the findings from the report:
- Steady DFW population growth
is expected to continue, with community diversity increasing. In Frisco,
one of the fastest-growing cities in the U.S., for example, future growth
is expected to exceed past growth.
- The North Texas region will soon experience some of the fastest
growth in middle-skill jobs, and nearly 8 in 10 of these jobs will require
digital skills. Training
initiatives will focus on helping individuals build the skills to fill
in-demand middle-skill jobs and build meaningful careers.
- North Texas has several
acknowledged neighborhood inequality challenges – and the report
highlights the importance of breaking down barriers and increasing access
to quality education and employment opportunities.
- Cities and suburbs in North
Texas will leverage ubiquitous connectivity, real-time and big data, and
algorithmic analytics to enable smart city services.
- By 2030:
- Residents will be empowered
through new and emerging AI technologies.
- Continuous learning will be
the new norm as more learning resources are distributed across platforms
– like peer-to-peer networks – to help people master in-demand skills
- The sharing economy will
grow, with more people finding ways to earn a living by using personal
- The creative economy of
artists, gamers, entertainers, reporters, and innovators will support the
economic health and drive the overall well-being of Dallas-Fort Worth
over the next decade.
Additionally, the report explores some of the countervailing
forces that DFW will need to address in order to realize a future of economic
and cultural prosperity. These forces include: digital security breaches, job
displacement by automation, and community amnesia.
"There are a number of factors at
play in shaping the future landscape of DFW, and the potential for a shift in
the way people work, live, learn, and build is certainly there," said Rachel
Maguire, Research Director at IFTF. "Residents of the area are really going to
be accountable for leveraging existing and emerging technologies and guiding
the growth – not only in number – but in diversity to further establish the
community's collaborative and successful future."
Click here to access the full report.
In 2015, Capital One pledged $150
million 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. As part of this initiative, Future Edge DFW symbolizes Capital One's
commitment to make Dallas-Fort Worth a destination for top talent, spur growth
as a world-renowned technology hub, and nurture leaders of tomorrow. For more
information on what Capital One is doing across the country, join the
conversation on Twitter and
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 $226.0 billion in deposits and $345.1
billion in total assets as of September 30, 2016. Headquartered
in McLean, Virginia, Capital One offers a broad spectrum of financial
products and services to consumers, 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.
About Institute for the Future
The Institute for the Future (IFTF) is an independent, non-profit research
organization based in Silicon Valley, California. Our mission is to help
organizations, communities, and individuals think systematically about the
future. IFTF has a 47-year track record of pioneering tools and methods for
building foresight, and we are the world's first and oldest organization
dedicated to bringing the skills and benefits of future forecasting to the
In its study of the future of North Texas, the independent, not
for profit Institute for the Future (IFTF) did in-depth interviews with
business, and economic development leaders in the DFW area; facilitated a
half-day expert workshop on October 5, 2016 that included a diverse mix of
academic, industry, nonprofit, and arts leaders; and moderated panel
discussions at the Workforce of the Future Leadership Summit produced by the
Collin County Business Alliance on October 11, 2016, and at Techweek Dallas,
November 2-6, 2016. The study, DFW: Igniting Economic and
Cultural Prosperity in North Texas, was released at Capital One Future Edge and
the Urban Institute's Reimagine Communities symposium on January 23, 2017 in
Plano, Texas. The qualitative research was supported by quantitative survey
work conducted by Wakefield Research. The researchers surveyed 500 adults in
the DFW DMA (designated market area) and 1,000 nationally representative U.S.
adults ages 18+ during the period September 22–30, 2016, using an email
invitation and an online survey. The margin of error was +/- 4.4 percentage
points for the DFW study and +/- 3.1 percentage points for the nationally
representative study. The findings offer revealing insight into the public's
attitudes on, assumptions about, and sense of preparedness for the next decade.
This quantitative research is referenced throughout DFW: Igniting Economic and
Cultural Prosperity in North Texas as the Capital One Future Edge DFW Survey.