Colombia native Liliana Gil Valletta left a global corporate post in NYC to achieve her entrepreneurial dreams.
CEO
HEYCO's George Yates steps up to help Europe
PLUS: How sports betting in Texas could become a $14.9 billion market
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13
NEED
Joe Walsh, Thryv Holdings
16 MEET THE 500
Tamila Fathi, Finastra
16 LOCALLY SOURCED
Melissa Mehall and Melissa Blue, Meli’s Cookies
18 HOSPITALITY
Jonathan Song and Stuart Vella, Plaza Premium Group
20 ON THE TABLE
Nathan Loftice, EarthX
39
Edwin Tatum, TatumTek
BUSINESS
40
If legalized in the 2023 legislative session, the Texas sports betting market has the potential to reach $14.9 billion.
42 ON TOPIC
Thomas Hartland-Mackie of City Electric Supply Co., Kelly Roberts of Ricochet Fuel Distributors, and Allen Nye of Oncor Electric Delivery share their most significant recent successes.
44 THOUGHT LEADER
The Power Group’s Amy Power on what to do when a business crisis strikes.
Tyler Cooper, Cooper Aerobics
Cobb, Flea Style
Yakunin, Amazon
Blackman,
TYLER COOPER; OF ON THE COVER: Liliana Gil Valletta of Cien+ and Culturintel, photographed by Sean Berry.And virtual calls. And remote work. And the next five years. We’re bringing clarity to confusion with data and insights generated from 7 billion square feet of real estate. Talk to us about new ways to think about how you work. Challenge everything, so you can realize anything.
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my twin sister and i recently had a milestone birthday. (We turned 60.) Rather than taking a trip to a spa or visiting a winery, we decided to celebrate by spending a week in the Boundary Waters Canoe Area, a 1.1 million-acre region in the Superior National Forest of Minnesota where it borders Canada. We had vacationed there when we both lived in Minneapolis in our 20s and returned with our kids in our 30s, but we had not been back since. We wanted to prove to ourselves that we were still badasses who could handle the canoeing and hiking and generally being in the wilderness. (Don’t be too impressed; we stayed in a nice waterside cabin, complete with a
One of the things I wanted to do while there wa s find a big rock my son had leaped off ore than 20 years ago. I snapped a photo of him jumping into the water; the joy on his face makes it one of my all-time favorite pics. On our third day, my sister and I miraculously found it. “You should recreate the photo,” my sister said. The rock was about 15 feet above the water. Despite my fear of heights, I decided to do it. I stood at the top for a long time, psyching myself up, then finally just went for it. The exhilaration I felt after leaping and then coming back up to the water’s surface was a complete rush. I was practically giddy.
The experience made me think about fear and how it can prevent us from experiencing some of life’s greatest moments. It also can be limiting when it comes to career pursuits. Self-help guru Tony Robbins wrote a terrific column about fear and 10 steps to overcome it. He says it starts with identifying your fears, then reflecting on them, recognizing excuses, and setting and visualizing goals. It’s also important, he says, to realize that fear can sometimes work to your advantage and to accept that we all, at times, will fail. (The whole post is worth a read.)
One of the best things about getting older is that we tend to become less fearful; at least that has been my experience, and I’ve got a fun photo of me leaping off rock to prove it.
Christine Perez Editor
The chairman and CEO of Thryv Holdings transformed a telephone directory business into a fl ourishing software-asa-service enterprise.
story by BEN SWANGER photography by JONATHAN ZIZZO
joe walsh has bought more than 100 companies in his career, but arguably his biggest success originated from a 2014 consulting gig for the struggling telephone directory company Dex Media. “The consensus about the company was ‘stale, old, and been around a long time,’” Walsh says. So, he turned it into Thryv Holdings, and now, the repositioned SaaS and market ing company serves more than 400,000 small and midsize businesses worldwide and trades on the NASDAQ. Within the decade, Walsh expects to reach $4 billion in SaaS revenue.
As a kid coming of age in Maryland, Walsh desired to become one thing: rich. “The driver was I wanted to provide for my parents by the time they retired,” Walsh says. “And for me, the byproduct of helping people is cashflow.”
So, while he was a freshman in college, he launched directory company IYP Publishing, hoping to compete with local phone companies.
“I made more money offof a single sale than my professors would in two or three weeks,” he says. Walsh left school and by 1985, revenue peaked in the “multimillions,” he says. When he tried to raise more capital, a buyer emerged instead; Walsh sold the 45-person company to DataNa tional, where he spent two years as VP of sales.
He then joined Yellowbook as the 183rd em ployee, where he stayed for 24 years, eventually rising to become CEO in 1993. When Walsh left in 2011, global revenue ballooned to $4 billion— up from $38 million when he became CEO—and employee headcount reached 16,500. “Before
there was Silicon Valley, we were the disruptors,” Walsh says.
Following the financial crisis in 2008, though, Yellowbook’s stock plummeted and Walsh moved on. A few years later, Dex Media, a publisher of white and yellow pages directories, recruited Walsh as a consultant to help the company scale.
After studying the company’s strategy, Walsh walked into Dex’s boardroom and pulled his phone out of his pocket. “This little thing right here is screwing up your old strategy,” he said. “But this little thing right here is also your new strate gy. Small businesses are following the big business computing strategy onto the cloud.” Dex’s board trusted Walsh to change the company’s approach himself. They handed the keys to Walsh and his hand-selected group of eight execs.
Walsh and company started with a balance sheet that was “a mess—essentially insolvent,” he says. He refocused the company’s mission of connecting buyers and sellers through printed phone directories, rebuilding it into a marketing and SaaS company. He also took it private. In 2019, Yellowbook officially rebranded as Thryv Holdings, and by 2020, it found its way back to the NASDAQ through an IPO.
Thryv’s signature product is a small business management platform that integrates a compa ny’s customer resource management, automated marketing, payments, document management, and more onto one app. In 2021, SaaS revenue for Thryv reached $170.5 million. Still, its an chor in 2021 was its online marketing and direc tory businesses, which pulled in $797.5 million.
In the next decade, however, Walsh expects the company’s SaaS arm to far outweigh the di rectory business, projecting that revenue from the segment will reach $4 billion. Shorter term, he forecasts SaaS hitting the $1 billion revenue marker in three years. “We’re building a sky scraper with this company,” Walsh says. “We have a roadmap of additional offerings we will be bolting out soon; I have a high sense of urgen cy for success.”
DEALMAKERThryv, which employs more than 1,500 people in Dallas and 2,700 globally, prioritizes market share growth through acquisitions. This past March, it acquired Dayton, Ohio-based Vivial for $21 million, which added 25,000 customers to Thryv’s database. Last year, it entered Australia when it acquired the continent’s largest directory business Sensis for $257 million.
“We think acquisitions are a core competency of this business,” says Joe Walsh, chairman and CEO. “And we think there’s an opportunity for more.”
As part of Walsh’s scaling blueprint, he forecasts the company’s SaaS client base to skyrocket from 46,000 to 500,000 in the next decade.
Thryv’s SaaS revenue will reach $4 billion, up more than 23x compared to 2021.
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THE 500
in her role as chief information officer, tamila helps lead global fintech company, Finastra, which generates $1.85 billion in revenue and serves 90 of the world’s top 100 banks. As a woman in the male-dominated tech industry, she says she has experienced her share of discrimination. “If I could change one thing about the industry, it would be to make it easier for diverse talent to climb the ladder in technology,” Fathi says. “Although we have come a long way, we still have much farther to go before we make executive suites not just accessible to, but inclusive of, diverse talent and diverse thought leadership.”
EDUCATION: Southern Methodist University (BBAOrganizational Behavior and Business Policy)
“Early in my career, I was reminded I would always be different because I was one of the few women in tech. More than once, I was told that my greatest successes would only happen after I fully accepted my differences and stopped waiting for others to accept me.”
KEY STRATEGIES:
“Be human, be vulnerable, be transparent, and be honest. Mistakes are how we grow. As a leader, I strive to create space for others to fail fast and fail forward.”
PIVOTAL MOMENT:
“It was not an easy decision to file or divorce when my daughters were only 2 and 5. But looking back, it was what I needed to do, and it shows my daughters that hardships are part of building character, strength, and ambition.”
“My daughters and I love to travel together. Our favorite trip so far was to Europe, visiting Harry Potter Studios in London and seeing the beautiful landmarks in Paris.”
“I love to use the artistic and creative side of my brain. I’ve been a makeup artist as a hobby for more than 25 years. I enjoy teaching others how to do their makeup and look forward to doing the same for my girls when it’s time.”
LOCAL FARE:
“My new but old favorite is Sadelle’s in Highland Park. I used to travel to New York often, and on every trip, I would go to Sadelle’s. Now that it’s here, I’m excited to get a Salmon Tower with a gluten-free everything bagel for brunch.”
FUN FACT:
“People might be surprised that I’m a real estate agent in my ‘spare’ time because I enjoy helping others fin their dream homes.”
This Q&A is extended content from Dallas 500, a special edition produced by D CEO that profiles the egion’s most influentia business leaders. Visit www.dallas500.com for details.
FIRST CAR: “It was a Honda Civic Si Hatchback.”
WALK-UP SONG: “Katy Perry’s song, ‘Rise.’ When I hear it, I can feel every single word.”
BOOK CLUB: “Anything by Brené Brown is a must. The sooner we embrace being vulnerable leaders, the sooner we accept diverse talent and diverse thought.”
ANIMAL SPIRIT: “An elephant. Many have said I have the memory of one while others have seen my loyalty and strength shine through.”
ALTERNATE REALITY: “Before my technology career, I thought I would be a pediatrician.”
LOOKING AHEAD:
“I’m excited about learning more about life, cybersecurity, and technology. Life is about living, learning, and growing. I can’t wait for the next new challenge and experience!”
Melissa Mehall and Melissa Blue are growing their presence in national grocery chains with oat-based Meli’s Cookies.
former gemologist melissa blue received a Monster cookie recipe and a Bosch mixer as a wedding gift from her mother-in-law. While mixing it up, she realized it didn’t contain wheat or flour: it was oat-based “That was kind of the aha light!” she says. “This is a great cookie, and it is gluten-free.” Blue knew there was demand as her niece struggled to find foods she could enjoy with gluten intolerance, so she called her friend, Melissa Mehall, who was an attorney at Holland & Knight. In 2013, Blue left her job and launched Meli’s Cookies—a line of frozen, pre-mixed treats—alongside Me hall, who came on full-time in 2019. Now, Meli’s has grown to include five baking mixes and four kind of ready-made mini cookies sold in more than 8,000 Kroger, Central Market, Target, and Walmart stores. Earlier this year, it expanded into Al bertson’s nationwide. Next up? “Our goal is to lean into brick and mortar stores we are already in nationwide and their online platforms,” Blue says. —Kelsey J. Vanderschoot
BY JAKEpeople desire certainty, solutions , and per manence. This desire is even greater when people face uncertainty, questions, and problems. Effectiv persuasion includes informing and highlighting un certainty to your audience and providing a conclusive solution. A number of studies have verified the us of uncertainty and certainty as effectivepersuasion techniques. One of the best is by Zakary Tormala and Garrett Rucker who analyzed empirical data of the phenomenon “of how certainty transforms persua sion.” Harvard Business Review (Sept. 2015). They spent more than 10 years studying this phenome non. In their studies, they concluded that “certainty profoundly shapes our behavior.” They learned that providing a pathway to certainty is not enough to persuade; the saliency with which people hold that certainty is paramount.
They give an example of consumers rating a prod uct or service a nine on a scale of 10. One customer rating the service may be a firsttime buyer giving a Yelp review and the other person scoring a nine out of 10 may be a regular, repeat user. They concluded that customers’ “behavior[s] often depend less on their stated opinion than on how firmlythey hold it.”
Convincing your audience to act decisively on the product or service you are selling, or posi tion you are proposing, necessitates developing strong reasoning so they are quite confidnt in reaching certainty.
I’ve found that when you highlight uncertain
ty and raise concerns, it increases people’s inter est, and desire to finda solution in which they are confidnt/certain. A study found that marriages entered into by males who were of draft age in Russia increased significantlyduring the Ukrainian war. Given how long Russia’s war against Ukraine has dragged on with numerous dead and wounded Russian troops, Russian males believed they might be drafted. This uncertainty of whether they would have to go to war led an inordinate number to be come married to create certainty in their lives at a time of great uncertainty in Russia.
How can you create certainty? One way is to make the person you are trying to persuade feel empow ered because they are the decision maker. Research by Tormala and Rucker and their colleagues found that people are more confidnt in their beliefs “when they feel they are in a position of power.”
Another way to build certainty is providing con sensus data illustrating your audience is not alone and empirical data and experiences by others con firmthat a particular choice is reliable. For years, companies have recognized this consensus princi ple and highlighted customers’ endorsements, sat isfaction surveys, online reviews, and ratings from Consumer Reports, Yelp, and Google.
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The Takeaway: Highlight that your audience faces uncertain, and un predictable times and troubling issues and problems. Then provide them with a persuasive path to a dependable solution, which they will be inclined to embrace with a strong saliency.
In 2021 and 2022 Dunn was included in D CEO Magazine’s Dallas 500 list, which recog nizes the most influential busi ness leaders in North Texas.
He has been honored as a Texas Super Lawyer every year that award has been giv en and recognized as one of the top 100 attorneys in Texas by Texas Monthly (a Thomson Reuters service) and a D Mag azine Best Lawyer 12 times.
when jonathan song’s father left his role as a senior vice president at a hong Kong investment bank 31 years ago, he realized he had given up the benefits that came with flying business class. “Then he had a eureka moment,” says Song, global director for business development at Plaza Premium Group.
His father realized there was a market for airport lounges that were open to anyone. “Regard less of your airline, or cabin of travel, you could pay a fee to access the lounges,” Song explains. His father launched Plaza Premium Group to meet the need. The company develops and oper ates airport lounges both independently and for airline and financial services partners. It now has lounges in more than 70 international airports and serves 20 million customers a year. Having conquered the world, Plaza Premium is now focused on expanding across the United States and North America—with DFW International Airport as its national head quarters. “Being an iconic airport globally, it is the right place for us; it meets our demo graphic and our culture,” says Stuart Vella, an Australian native who, as vice president of commercial development and operations, is driving Plaza Premium’s American expansion. DFW’s desig nation as the world’s second-busiest airport was also a key factor in the decision.
Plaza Premium entered the U.S. market in 2020 with the construction of an independent lounge in Terminal E. It has since built a Capital One Lounge in Terminal D. The company operates its facilities entirely in-house. Last year, Plaza Premium announced a partnership with Virgin Atlantic to operate five U.S. lounges, and this year, it aligned with Capital One to offer certain cardholders access to Plaza Premium lounges. It also recently opened an independent lounge in Orlando and is expanding their hospitality services into Denver.
Plaza Premium Lounges provide a space to refuel, and all offer house-made food and various beverages. DFW’s lounges includes showers and prayer and exercise areas.
Plaza Premium lounges give travelers a quiet place to refresh and refuel. The DFW venues also include showers.
Within two or three years, Plaza Premium hopes to double its international presence, growing from 250 lo cations to 500. In America, it aims to have thousands of employees in the next couple of years. It it currently has roughly 80 workers in North Texas and hundreds more on the country’s coasts. “Ultimate ly, we want to be a household name within the USA,” Vella says.
The organization’s new CEO, a longtime environmental adviser to Trammell S. Crow, sees endless opportunities.
as we settle into a booth at al bier nat’s in Uptown, Nathan Loftice shares that he has known EarthX’s founder, Trammell S. Crow, for nearly 20 years. “I was with Trammell when we first formed it as Earth Day Dallas,” Loftice says. Since then, Crow has asked Loftice to join EarthX at least five times as it cycled through eight organization heads. As he orders one of the daily steak specials, Loftice explains why he final ly decided to take the helm this past September.
sustainable development for BNSF and its parent, Berkshire Hathaway, the holding company run by Warren Buffett. He answered inquiries about environmental concerns and led planning, per mitting, and projects. “I worked all over—32,500 miles, 28 states, three Canadian provinces, about 1 million acres,” Loftice says. Buffett has become a huge source of leadership inspiration for him.
All the while, he was volunteering with what is now EarthX, sharing reading material and data with Crow, providing the expo with hundreds of its first contacts. He decided that now was the time to lead; it’s his passion, Loftice says, but it also goes back to one of his worst moments, 17 years ago.
story by KELSEY J. VANDERSCHOOT illustration by JAKE MEYERSHe grew up on the East Fork of the Trinity River on a fifth-generation ranch. “My whole existence was on that river,” he says. He remembers the first time he saw a glass bottle float past, the quail that used to run on the land, and bountiful stars before urban light pollution dimmed the skies. “I always wondered, ‘Who’s going to be the voice of the envi ronment?’” he says. “The environment can’t com municate with us in a way we can understand it, but those birds, the river, the soil, the vegetation, all of that—somebody has to speak up.”
After graduating from The University of Texas at Austin, Loftice decided to be that voice. He worked as an environmental specialist on several key civil and criminal investigations for the State of Texas, including the prosecution of the owner of the larg est illegal landfill in Texas, which was situated near where Trinity River Audubon Center is now. He was also a first responder to the largest inland gas spill at the time—approximately 1 million gallons of gas leaked from a pipeline rupture near Lake Tawa koni east of Dallas. “I never lost a case,” Loftice says.
He went on to lead supply chain optimization management for FedEx for many years before accepting a post as director of sustainability and
Loftice’s dad was injured in a farming accident and passed away weeks later. A few months after that, Loftice’s son was born gravely ill; his bone marrow shut down production of red blood cells, and he went into complete heart block. While his infant son was in surgery, Crow called Loftice to check in. “He was the only person—out of all my friends—who called me or came to see me, outside of my family,” Loftice says.
That relationship, trust, and respect are what Loftice feels will help him as CEO. “I’m at a point now where I’m wanting to give back,” he says. “Point blank with Trammell: I don’t need his money. I don’t really want his money. It’s almost like I’m per fect for the job because I can be direct and honest.” Among his main tenets? People, planet, and profit.
Already, Loftice has developed fiscal plans for EarthX through 2023, reinstated Crow to the chairman role, and hired two new executives. He’s also prepping the company for its April 2023 expo, which he hopes will match 2019 attendance. “I’m pleased and excited to say that we will be back at Fair Park,” Loftice says. Finally, he’s leaning into EarthX’s entrance into television and hopes even tually to branch into other media markets. “The opportunities are endless for where it could go,” Loftice says.
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A frequent guest commentator on Fox Business and CNN en Español, Lili Gil Valletta has built two thriving companies.
Liliana Gil Valletta left Colombia for Texas to pursue the American dream. After rising to a global post in NYC, she’s back in the Lone Star State. Here’s why.
A 17-YEAR-OLD LILIANA GIL VALLETTA EXITED A PLANE AT Dallas-Fort Worth International Airport after a six-hour flightwith only a student visa, a suitcase, and a dream. Some 2,500 miles from home, Valletta stepped onto the scorching Texas pavement. As a young girl, Valletta dreamed of attending college at Harvard University. Her parents—both engineers in the oil and gas industry in Valletta’s native Barrancabermeja, Colombia—couldn’t affordthe tuition of the pric ey Ivy League school. Instead, they scrimped and saved to send their precocious and outspoken daughter to a one-year English as a Second Language program at Southwestern Adventist University.
Because I was from Colombia, people automatically assumed I must be related to Pablo Escobar. But I always saw my differencesas an opportunity to help others understand who I was.”
Valletta would learn English through the ESL program. She’d throw herself into her studies and extracurriculars, and, she says, work her ass offuntil graduating suma cum laude from the small Christian school. Ever the overachiever, Valletta wasn’t finished there; she’d go on to obtain an MBA from the University of Colorado and work her way up the corporate ladder to lead global marketing for a giant pharmaceutical company. She’d then leave the safety net of her cushy corporate job to ignite the entrepreneurial firethat burned inside her and build not just one but two successful businesses. Along the way, she’d move to New York City, fall in love, get married (to Plano High School grad, Texas A&M University football star, former NFL player, and The Apprentice contestant Chris Valletta), have two beautiful children, be named a prestigious World Economic Forum Young Global Leader, advise U.S. presidents, and not only achieve her childhood dream of attending Harvard but also teach as a guest lecturer there. Last year, after a nudge from the pandemic, she moved her companies and family back to where it all began.
“Texas was always home from the get-go for me in the United States,” Valletta says. “It wasn’t until much later in life that I real ized y’all wasn’t something everyone said. Like many people chas ing their dreams, I felt like I had to be in New York for career, op portunity, and business. It’s interesting because there are so many transplants in NYC, and everyone you talk to says they’re only there for a little bit. That little bit became 15 years for me, but I always dreamed about coming home.”
At the helm of global marketing services at Johnson & Johnson, Val letta was responsible for billion-dollar promotional initiatives and agency contracts. To help the healthcare giant gain even more mar ket share and grow revenue, she developed a strategy that leaned into her background as a Hispanic female. Called MMx, it was J&J’s firt multicultural marketing plan for the pharmaceutical sector.
“I realized no one was truly looking at the numbers, shifting de mographics in the market, and the size of the collective economy and what it would look like in three, five,and 10 years through an inclu sive and cultural lens,” Valletta says.
A short 45-minute drive from DFW Airport, Keene, Texas (pop ulation: 6,500), would be where Valletta would begin chasing her childhood dreams. “I was probably oblivious to so much back then,” she says today. “There was very little diversity in small-town Texas at the time. So, here was this little brown girl from another country who didn’t look like anyone else or know a single word of English.
The business-savvy leader seized an opportunity and founded in clusive marketing agency CIEN+ in 2010. Today, the woman- and minority-owned company provides business consulting and market ing services to Fortune 500 companies such as CVS/Aetna, Google, and PepsiCo. Although Valletta declined to provide revenue figures for the privately held firm,she says it employs 80 (or more than 100 when including part-time employees) and boasts officein New York, Miami, Los Angeles, Denver, Bogotá, Medellín—and, as of last year, its brand-new headquarters in Irving.
Valletta’s second venture, CulturIntel, was founded in 2016 and uses artificialintelligence to provide data-driven market research to tap into diverse and high-growth markets. Valletta says her compa nies are differentthan most DEI-focused consulting groups in that
We live in a multicultural world. Anyone in business who wants to win and capture the market’s full potential must be inclusive in how they understand their customers.
she focuses on consumer products, technology, and healthcare—not human resources or advocacy work. “I am firmlyin the business lane,” Valletta says. “The reality is that we live in a multicultural world. Anyone in business who wants to win and capture the market’s full potential must be inclusive in how they understand their customers.”
According to the latest U.S. Census Bureau population estimates, nearly four of 10 Americans identify with a race or ethnicity other than White. In addition, 2010 to 2020 saw the overall percentage of the country’s White population as a proportion of the total U.S. population decline. Most demographers agree that by 2050, the United States will see a minority-majority population shift, with growth predominately driven by younger individuals who identify as multicultural.
“We can keep telling ourselves that what I do is some niche mar keting,” Valletta says. “We can continue to debate labels and segment our society. But if we’re doing that and not focusing on how much we need to invest in our business plans, product development, and market strategies to change with the times, I think we’re putting our energy in the wrong places.”
Education, Valletta says, is one of the greatest equalizers. It’s what she credits for many of her early successes and how she built her busi ness empire into what it is today. It’s also why she decided to accept an invitation delivered via LinkedIn from Ana Patterson, a classmate at Southwestern Adventist University who was teaching business classes at their alma mater. “Next thing you know, Lili was dropping everything and hopping on a flightfrom New York to Texas to speak to our class,” Patterson says. “That’s just the kind of person she is.”
Southwestern Adventist University has an average enrollment between 900 and 1,000 students. It is also a federally designated Hispanic-serving institution whose student population is between 40 percent and 45 percent Hispanic. “Our school closely mirrors the demographics of our state,” says Patterson, who was named the uni versity’s firt female and Hispanic president in 2021.
Through the guest lecture, Patterson connected Valletta with the school’s administration, and Valletta eventually joined the school’s Board of Trustees in 2019. Soon afterward, Valletta created the Au rora Hispanic Leadership Endowment Scholarship in memory of her mother to support firt-generation Hispanic students.
Valletta says her mother was her guiding light and a trailblazer for women in Colombia when she graduated with a degree in chemistry to pursue a STEM career in the 1960s. Challenging cultural and societal norms of the time, she showed Valletta the definitionof hard work, discipline, and a commitment to excellence. She passed away in 2011 after a 10-year battle with cancer, never seeing her daughter fulfillher dream of attending Harvard University in 2012. “But I know she was right there with me, every step of the way,” Valletta says.
In 2017, Valletta was asked to join a group of 11 other women business owners at the White House to meet with former President Donald Trump and advise on matters affeting small business owners. De
As she has climbed the corporate ladder and built her own thriving enterprises, Lili Gil Valletta says she has learned important lessons along the way.
ONE Chase your purpose. No amount of money can replace loving what you do.
TWO Preparation creates excellence. Results always speak louder than anything else.
THREE Surround yourself with people who are smarter than you. That includes mentors who will champion you.
FOUR Prioritize work-life balance and family, emphasizing the three F’s: faith, family, and fun.
spite harsh criticisms and even some death threats on social media, Valletta joined the non-partisan group. “We have been bitching for so long for a seat at the table in business and boardrooms,” Valletta says of the experience. “If all of the sudden I’m invited, you can bet I’m going to show up and be very intentional in my role.”
During the meeting, Valletta says she clicked with Claudia Mirza, a fellow Co lombian and CEO of Plano-based Akorbi. Along with Valletta, Mirza was among the four Latinas selected to participate in the fo rum. The two called each other nightly and formed a support system that remains today.
“Our companies are similar in that my firmprovides multi-lingual translation and staffinservices, complimenting her company’s diverse and data-driven analyt ics and marketing offerings” Mirza says. “It was the start of several business proj ects together—and it was also the begin ning of a remarkable friendship.”
On the event’s last day, Valletta said the highlight was touring the oval officwith the president. Valletta says she’d happily accept the call if asked to participate in a similar program again. “It had nothing to do with politics and everything to do with purpose and responsibility,” she says. “One thing I kept repeating in the press after ward was, ‘I’d rather influencefrom the inside than complain from the outside if given a seat at the table.’”
Grow and give back by inspiring and unleashing possibilities in others.
Valletta hung a poster in her officto serve as a daily reminder of her life’s pur pose. It reads: “Inspire and unleash pos sibilities in others.” She says we all have a responsibility to give back to the world equally or more than what we’ve received from it. “Especially for me, as a woman, minority, and immigrant to this country, I’m called to continually give back to my communities,” she says. “I hold myself accountable and always to try to remind myself to unleash and inspire the possibil ities in others.” Valletta also believes strongly in the power of unity. “Today’s notion of DEI shouldn’t always be about looking for injus tices,” she says. “If you look at any community, you can findthose. The uniqueness of you, if you choose to dive into it, can give you an edge instead of being a disadvantage.
“I tell people of all backgrounds to take your unique upbringing and cultural context and use it as your superpower—not as a handi cap. My career path and life story are proof.”
With so much at stake both here in Texas and around the globe, the innovation and leadership of DFW energy players has never been more important.
DEMAND FOR RELIABLE ENERGY WORLDWIDE HAS NEVER BEEN greater. This summer, ERCOT broke the record for Texas power demand 11 times, reaching 80,000 megawatts in July. Meanwhile, the cost for energy is spiking in Europe; the United Kingdom is experiencing the worst of it, where natural gas prices were up a stunning 96 percent in July 2022 compared to July 2021, and electricity costs increased by 54 percent. The need for solutions both here and abroad, and the work North Texas energy leaders are doing to advance the industry and help our country and our allies, is vital. “You have to think big,” says George Yates, CEO of HEYCO Energy Group. Fortunately, that has never been a problem for industry innovators in the Lone Star State. Read more about how DFW companies are leading the way (p. 28), celebrate D CEO’s 2022 Energy Awards honorees (p. 31), and see how Yates is coming to Europe’s aid (p. 32).
As the demand for reliable and clean energy continues to spike, DFW industry leaders say they need technology, infrastructure, and improved supply chains to evolve.
Recent natural disasters and geopolitcal tensions have spotlighted the need for reliable power sourc es, lower emissions, increased market stability, improved supply chains, a solution to European shortages, and more. It’s a very tall order. Energy leaders play key roles in determining how challeng es will be overcome—and how long any given reso lutions will take.
The U.S. Energy Information Administration predicts a staggering 47 percent rise in global en ergy demand by 2050. More immediately, conflit in Ukraine has led to an energy crisis in Europe,
story by KELSEY J. VANDERSCHOOT photography by LUIS CERDEIRAThe energy revolution that’s underway is bringing renewables into the mainstream.
where electricity rates have skyrocketed by rough ly 300 percent due to Russia cutting offsupplies to the continent. (For more on the topic, and to learn how HEYCO’s George Yates is jumping in to help, see story on page 32.)
Stateside, electricity rates are anticipated to tick up 2.5 percent in 2023. Fuel prices were averaging $4.09 per gallon in August 2022, up 20.5 percent over $3.26 in August 2021, but down 19 percent from a June spike that hit $5.03.
“We have a worldwide energy shortage,” says Jay Allison, CEO of Frisco-based upstream gas com pany Comstock Resources. But many proposed solutions to meeting global energy demand cleanly and reliably have hit dead ends, as leaders wait for technology, supply chains, legislation, and infra structure to evolve. It’s not just a matter of ramping up drilling, a move that would have been a go-to in the past. In the last several years, fuel companies have shifted away from previous growth models to focus on efficiey and investor returns, rather than increasing production and rig counts. “Every time you add a rig, you’re adding more capital ex penditure, and that means you’re taking away the dividends from the investors,” says Bryan Sheffiel partner at energy-focused PE firmFormentera Partners in Austin and founder of Permian Basin giant Parsley Energy, which was acquired by Pio neer Natural Resources in 2020.
Sheffieladds that many rigs are available and idle—recently as many as 30 percent at a given company. And even if leaders wanted to firethem up again, labor and supply shortages would prove challenging. “We just bought pipe nine months out,” Sheffielsays. “I’ve never bought pipe that far out, and I don’t know how bad it’s going to be in six to 12 months—and that’s without adding rigs.”
Allison points out that steel, chemicals, and com pletion crews are also in short supply. “Our service costs has probably gone up 25 to 30 percent in the last 12 months,” he says. Deferred maintenance also
plays a role. “The problem with materially increas ing production is that you almost can’t do it right now because of the supply chain shortage,” Allison says. Sheffielsums up the situation in four words: “We are boxed in.”
Another option is investing more heavily into re newables. John Billingsley, leader of Dallas-based Tri Global Energy, the largest developer of wind energy in Texas and third largest in the nation, says the movement to bring renewables into the mainstream has been percolating for the last 10 to 15 years. “It’s becoming more prevalent because renewable, alternative energy—wind and solar— has gotten less expensive,” he says.
In Texas, wind provides roughly 25 percent of the state’s energy and solar accounts for 3 percent, but both continue to trend upward. Allison notes that for the firt time in 130 years, U.S. energy con sumption of renewables has passed coal. “We have made some progress there,” he says. Recent legisla tion such as the Infltion Reduction Act (see side bar) has also heavily incentivized renewables and environmental governance effots.
“Ten years ago, you never saw an ad with Exxon that had wind turbines in it—I mean, not a one,” Billingsley laughs. “Now, they’re nearly every where you look. They are evolving into that be cause it’s just obvious that it’s going to be the prev alent mix of the energy.” He’s quick to add that it will be quite some time before renewables become the majority energy source, and even then, fossil fuels will most likely never cease to have a role. “I’m 82 years old, so I’ll never see the end of it, but in my opinion, our whole world is not going to go off fossil fuel” he says.
This is partially because every time a wind tur bine starts, it needs a fossil fuel—usually natural gas—to provide the electricity that turns it on, at
Passed in August, the federal Infltion Reduction Act provides new incentives and funding for clean energy, but its impact is still unclear. “It will have major effects that it was not anticipated to have,” says John Billingsley, CEO of Tri Global Energy. He points to a clause that allows consumers and businesses to apply for a direct pay credit after 45 days of production using solar or wind power, rather than waiting a year for a typical tax credit. This, Billingsley says, could disrupt major tax equity institutions. He adds that the new incentives of nearly 30 percent mirror incentives oil companies had in the ’50s and ’60s. Energy Transfer Co-CEO Mackie McCrea points to an ironic incentive in the bill—rewarding fossil fuel producers for capturing carbon.
“It’s going to encourage people to create as much CO2 as they can, because now it’s profitable o capture it,” McCrea says.
Bryan Sheffield o Formentera Partners says the bill provides a good middle ground.
“I was worried about this bill, but I looked at it, and it seems like a compromise to everything,” he says.
“Ten years ago, you never saw an ad with Exxon that had wind turbines in it—I mean, not a one.”
JOHN BILLINGSLEY, Tri Global Energy
least until better battery storage can be developed.
“One has to play offof the other,” Billingsley says. There is a lot of research around bettering bat tery storage—projects involving zinc batteries and more—so wind energy can be less dependent on natural gas. But even as that develops, the biggest challenge facing renewables is around permit ting, Billingsley says. Texas’ two power regulators, ERCOT and Southwest Power Pool, each have distinct, complex, and costly processes leaders must follow to secure the necessary permissions to build wind and solar farms.
With each permitting step, companies must provide more project specificsand pay hefty fees. “It’s expensive just to get the permit,” Billings ley says. “It used to take about a year-and-a-half to get that. I’ve had projects submitted that are just now getting cleared, that have been there for seven years.” Because of the time and money involved, a relatively low proportion of proposed wind projects come to fruition. “Renewables are working, but it’s going to take time,” Allison says. “You can’t just snap your finers and be a totally renewables-fueled society.”
A third option offerswhat some consider a bridge: increasing natural gas production and exports. “It has the cleanest possible footprint of any other fos sil fuel, and it very much is needed for transition over into the renewables,” Allison says. He is among the many leaders who see liquid natural gas as a solution to both the immediate crisis in Europe and the long-term push for electrifiction. Sheffielis another. “LNG is the answer,” he says.
Last year, Europe imported roughly 5.47 trillion cubic feet (155 billion cubic meters) of natural gas from Russia. According to Allison, the U.S. could
produce 100 billion cubic feet per day, providing ample supply for both domestic and international needs. In Texas, natural gas already provides about 42 percent of the state’s energy. And should the U.S. choose to shift to fully electric vehicles in the next 30 years, it could help provide the power needed to supply the extra electricity required. “I believe natural gas is that bridge to the better place for us before we go fully to solar or wind,” Sheffield ys.
A focus on natural gas has the potential to sup port sustainability effots faster than a nationwide shift to electric vehicles, according to some. “If we could just snap our finers and replace every coal-firingplant in the world with natural gasfiredplants, it would reduce our emissions way ahead of the 2050 goal of reducing the carbon emissions, and it would have a much bigger im pact than converting every vehicle in the world to E.V.,” says Mackie McCrea, co-CEO of Dal las-based midstream company Energy Transfer.
When it comes to providing aid to European countries and others around the globe, though, the U.S. is not set up to export the volume of gas needed. “You have to have more export terminals,” Allison says. Means of building those terminals are already underway: Louisiana-based Venture Global LNG is building a terminal on the Gulf Coast after securing $13.2 billion in financing. “That’s the single-largest financingin the world,” Allison says. This should help get more gas to Asia and Europe by 2025 or 2026, he adds. Permitting and negotiating export contracts will add to the timeline, Sheffielnotes. “It’s going to take a few years. It takes a while to get the permits in these LNG terminals and put in place and build them and secure the contracts with each country.”
For now, the sector remains optimistic as re search, legislation, time, technology, and fina cial backing evolve. “It seems like the market is digesting all the news with what the feds are do ing,” Allison says. The threat of crisis outside of Europe doesn’t appear immediate; the U.S. En ergy Information Administration forecasts global supply will closely align with demand in 2023. Energy players are benefiting from strong pricing and demand, and incentives toward investing in renewables and environmental governance have never been greater in the United States.
Sheffielsays energy M&A activity is bubbling up, too, although securing financingcan be a chal
“I am a big believer in ESG. I think it makes all companies better across the board.”
lenge. “Deal volume is sky high because sellers are all trying to sell, but the buyers aren’t really there,” he says. “Buyers aren’t really there because the eq uity dollars aren’t there, because the endowment space left, and then also we have lending issues.”
In the midst of all of this, fossil fuel leaders con tinue to play their part in achieving sustainability gains, spurred by investor and regulatory pushes. McCrea says one of Energy Transfer’s subsidiar ies, Dual Drive Technologies, has patented a com pressor that switches between operating on an electric-driven motor and a natural gas-powered engine, reducing emissions without decreasing reliability. “That tech has reduced CO2 emissions by hundreds of thousands of tons over the years, so we continue to build those and put those in our systems as well as a lot of third-party systems,” he says. The company will also focus more on CO2 sequestration and capture in the coming years.
Sheffielechoes the importance of environmen tal stewardship for fossil fuel providers going for ward. “I am a big believer in ESG,” he says. “I think it makes all companies better across the board. In the Parsley days, we did wake up, in a sense, and become the best operator to the environment that we could.” Non-industry players could stand to evolve beyond black-and-white thinking, too, and realize that fossil fuels are not the enemy—they should just be used responsibly. “There needs to be re-education of the consumers within the U.S. that these natural resources we have are very im portant,” he says. “But we need to become better operators and good stewards to the environment.”
Most leaders feel a closer relationship between fossil fuel and renewable companies will be key to progress, although determining how much ef fective communication is happening between the two sides is difficult to discern. “I feel like we’re at a deadlock,” Sheffielsays, “Maybe the Russia and Ukraine crisis will help unlock this, and then may be, eventually, we can have an adult conversation on how to collaborate.”
Billingsley, on the other hand, says energy play ers have made strides and there may be incentives for ongoing relationship-building. “There will be collaboration,” he says. “We’re all businessmen, and we do what’s necessary to make a profit”
George Yates, HEYCO Energy Group
Barry Davis, EnLink Midstream
M. Jay Allison, Comstock Resources
Finalists: Todd Flott, Scout Energy Partners Terry Gottberg, Merit Energy Co. Jordan Jayson, U.S. Energy Development Corp.
RENEWABLE ENERGY IMPACT
John Billingsley, Tri Global Energy
Maher Maymoun, Solar PiezoClean Finalists: Sano Blocker, Vistra Corp.
Travis Wildeman, The Solar Co.
David Coker, Energy Transfer Finalists: Bill Lantz, JGL Solutions James Purvis, GreenPath Logistics Johnny Tai, Kandi America
PRIVATE EQUITY FIRM
Bryan Sheffield,ormentera Partners Finalists: Albert Huddleston, Aethon Energy Management Kyle D. Miller, Silver Hill Energy Partners Eddie Rhea, Foundation Energy Management
Troy Vaughn, Principle Services Finalists: John Bick, Priority Power Ronald Bordelon, Core Energy
Jason Wilcox, Wilcox Investment Bankers Finalists: Adam Powell, Valor Aaron Sizemore, East West Bank CJ Tibbs, Peregrine Energy Partners
Matt Autry, Valor Finalists: Joe Loner, Priority Power Jordan Mullins, Oil & Gas Asset Clearinghouse Tara Sharma, RedOaks Energy Advisors
At a time when the world needs him most, third-generation oilman GEORGE YATES comes off the sidelines o bring industry innovations across the pond.
story by JENNIFER WARREN portrait by JONATHAN ZIZZO 2022 ENERGY 2022 LEGACY AWARDHe invoked Winston Churchill’s famous speech during World War II, saying, “We will fight for our land, whatever the costs. We will fight in the for ests, in the fields, on the shores, in the streets.”
Zelensky’s address asking for additional aid in battling Russia was preceded by a presentation to Parliament from George Yates, CEO of Dal las-based HEYCO Energy. He was part of a group of U.K. shale gas industry leaders who were there to convince lawmakers to give them access to un tapped shale gas on the island nation.
Yates believes the timing was a turning point. Many forces are coalescing to illustrate how he—a typically under-the-radar, third-generation indus try veteran with experience in the Permian Basin, Spain, and the Bowland Shale in the U.K.—is the right man to play a constructive, practical role in Europe’s much-needed energy continuity. “The dominoes are falling,” he says.
The world is awakening to the realities of an energy transition that is driven by numerous competing factions. In an era where social media creates quick visceral reactions and narratives spin, piercing the veil of truth is a challenge. Yates brings a measured and balanced perspective. “We have to outline our objectives clearly: What is an energy system supposed to do?” he says. “You have to think big. Energy systems are fundamental to human lives.”
A fundamental need that’s ever-increasing. Globally, energy needs are expected increase 50 percent by 2050. “Net zero—as an absolute—will not deliver; you have to be flexible,” says Yates, an entrepreneur with a deep vein of geology inform ing his perspectives and actions. Climate science is complex and not perfectly understood. Low carbon cannot exist in isolation without energy security, he suggests. “Adequate supplies that are a ffordable and reliable are key,” he says.
The energy crisis in Europe began before the Russian invasion of Ukraine, revealing its bite in the winter of 2021. Yates notes that in Spain, as of late July, gas was selling for $50 mmbtu (a measurement that represents 1 million British thermal units). Dutch gas futures, called “TTF,” in mid-September for year-end delivery are approxi mately $64 mmbtu.
In Europe, electricity prices are high owing to its deregulated market; effectively, the most ex pensive and least efficient megawatt influences the direction of price—usually upward—when there are energy shortfalls. “At the margin, natural gas prices all electricity, which is why Europe’s natural gas prices are six to 10 times that of the U.S.’s,” says Jay Hat field, CEO and founder of New York-based InfraCap Ltd., a firm that focuses on energy infra structure investment funds. He expects upward pressure on prices through the winter with some convergence in the future. Large-scale infrastruc ture projects are a form of capital stock lock-in. As such, Hat field believes that natural gas has a 30-to 40-year run, oil slightly less, even while address ing decarbonization.
Human necessity and welfare are the com pounding factors, more so than any other time in the energy industry’s cyclical history. It’s not driv en by boom and busts, shortages and surpluses—as is typical of oil and gas markets—but the necessity of what energy does, including lifting people out
A 1930s shot of the four sons of energy pioneer Martin Yates Jr. (from left): Harvey, John, S.P., and Frank (Bitsy).
On March 8, Ukraine President Volodymyr Zelensky addressed the United Kingdom Parliament from his bunker in Kyiv, just two weeks after Russia had invaded his country.
of poverty, Yates says. As a top global powerhouse, the United States is being called to action for a role in Europe’s energy security. “We are entering a cycle like no other in a cyclical business because of such different characteristics, underpinned by geopolitics and undercapitalization,” says Yates, whose impact and lifelong achievements in the industry are being recognized by D CEO with the top honor in its 2022 Energy Awards program.
Yates’ European ventures have their roots in the innovation of America’s shale revolution. In 2013, the Permian Basin, one of the most prolificoil fieldsin the world, achieved more recognition than its initial discovery, a sort of 21st-century oil fieldbreakout. It began to change the dynamics of oil markets that had been at the mercy of OPEC since the 1970s. The Permian continues to give the world more than just oil.
Within the Permian’s borders sits the Delaware Basin, where George’s grandfather, Martin Yates Jr., discovered the firt commercial oil well on state lands in southeastern New Mexico in 1924. He had moved to Artesia, New Mexico, from Missouri in 1907, looking for adventure and believing that oil would be found in the Pecos Valley, where many ar tesian water wells had traces of oil. Today, he’s con sidered the “father of the New Mexico oil business.”
In 1969, George’s father, pioneer oilman and wildcatter Harvey Yates, founded Harvey E. Yates Co., the predecessor of HEYCO Energy Group. Today, building on work by his grandfather and father, George Yates is driving significantdevelop ments globally and redrawing energy lines.
HEYCO had lease positions in all the headline horizontal plays and pioneered the Bone Springs Sands as a conventional play in the 1980s. (The Bone Springs intervals correspond in Texas to the resource-rich Spraberry of Midland.) HEYCO de veloped the sand as a vertical play before multistage hydraulic fracturing. “We worked with some brilliant scientists from Sandia Labs to better un derstand the reservoir and drilled the firt horizon tal well in the second sand with their help,” Yates says. “It has, of course, grown into one of the best horizontal plays in the best basin in the country.” In the U.S., HEYCO has focused on non-operat ed projects in New Mexico, Louisiana, Wyoming,
On Sept. 8, Britain’s new Prime Minister Liz Truss lifted the moratorium for large-scale hydraulic fracturing, with the goal of easing the energy crisis in the short term and for the future. The ban had been in place since 2019. Truss said she expects more than 100 licenses to be awarded for tapping into the country’s “huge reserves,” which “could get gas flwing in as soon as six months.” Showing the U.K. their path to self-sufficiey is what Yates pushed for when presenting to the U.K.’s parliament this past March. Lifting the ban is the firt step toward energy independence, he says. HEYCO and its British partner stand ready, with a substantial footprint in England’s Bowland Shale. “The only way the U.K. attains self-sufficicy is through the development of shale resources,” he says.
and East Texas’ Haynesville Shale. (Some hold ings were sold in 2015 to Dallas-based Matador Resources in a cash-and-stock deal.) In 1987, HEYCO went global, with subsidiaries involved in exploration in England, Spain, and Morocco. In 1995, HEYCO and partners were granted permits in Spain; in 2007, they discovered the Avington Field in southern England. Yates’ international activity has been more of a non-operated nature— until now. While pushing against the headwinds in Europe opposing oil and gas development, Pu tin’s invasion of Ukraine reversed the tide.
Some 15 years ago, Yates, along with partners, the Basque National Oil Co. and True Oil, obtained li censes over what they named the Gran Enara Field in Basque Country—a community in northern Spain. Third-party estimates of gas in place are some 200 trillion cubic feet. In comparison, the Texas Railroad Commission says the Delaware Basin in the Permian has the potential to produce 281 trillion cubic feet of natural gas, based on a 2018 survey.
Earlier this year, Yates bought a majority inter est in a producing gas fieldwith substantial prov en undeveloped reserves in a conventional reser voir located in Spain’s Rioja wine country. Several years ago, he also helped engineer the passage of a bill that gave surface owners a royalty interest.
“It’s the firt fieldin Spain where surface owners have an economic interest in production,” Yates said. The fieldis very popular locally, particular ly among landowners. When asked why HEYCO was chosen to operate, Yates modestly offers,“You go to your friends. It’s a relationship business.”
Yates in the Permian Basin, flaned by Richard Redmayne and Mark Abbott of Egdon Resources.Based out of a new officin Madrid, HEYCO’s Iberia team now operates the field.This required Spanish government approval, which finallyhap pened in mid-July. “We are running 3 million cubic feet (cf) a day through our gas plant, but the plant is capable of 30 million cf per day,” Yates says. “Incred ibly, we now produce 85 percent of the indigenous gas in Spain from one well.”
He and his team hope to build capacity after drilling up to three development wells next spring. Spain currently relies almost exclusively on im ports—roughly 1 trillion cf per year.
The opportunity in Spain compelled Yates to come offthe sidelines: “Maybe it’s the old dog and old tricks,” he says. “We will have conventional and unconventional operational capabilities in Europe that no other independent has. We are in the technology transfer business.”
The same reversal of fortunes is happening now in the U.K. HEYCO has a very large footprint in the Bowland Shale, specificallyin the Gaines borough Trough of the East Midlands. The Bow land Shale is just north of Birmingham; it edges to Britain’s West Coast include Liverpool and Blackpool, and to its east, north of York into the Moors. Yates enthusiastically explains that the in-place reserves there “have wonderful looking rock, full of gas.” The IP reserves are 650 billion cf per section, which is more than the Marcellus and Haynesville, and all above 10,000 feet.
According to a report in Britain’s national dai ly, The Telegraph, if 10 percent of the estimated in-place resource were recovered, the U.K. would be self-sufficienin natural gas for 50 years. For mer Prime Minister Boris Johnson imposed a moratorium on large-scale drilling and hydraulic fracturing in 2019. But, due to the European en ergy crisis, it was lifted on Sept. 8 by new Prime Minister Liz Truss. (See sidebar on p. 39.)
At a December 2021 conference in Washington, D.C., Yates discussed Europe’s energy crisis, as de finedby supply shortfalls and record-high prices. He said that Russia was using its “swing producer dominance in Europe to maximum economic and geopolitical advance, missed by planners in Brussels and London.” He added that Europe, an industrial bloc, needs resources if its economies are to grow.
Natural gas prices were already escalating last winter—before Russia’s invasion of Ukraine.
Estimated gas in place per square mile in the U.K.’s Bowland Shale, where Dallasbased HEYCO and its British partner have a significant take, exceeds the most successful U.S. natural gas shale plays.
Here’s a look at how estimates break down per section by billion cubic feet (bcf).
InfraCap’s Jay Hatfieldattributes this to the fail ure to procure a secure supply. “The U.K. even shut down a 3 billion cf storage facility owing to their energy transition plans,” he says. In addition, the German government has begun to bail out firm impacted by the energy crisis post-invasion. “Eu rope doesn’t need any speeches from the United States about failed policies now,” Hatfieldsays. “They’re living them.”
The U.K. sits atop world-class resources, as does Spain. At the D.C. conference, Yates warned that energy was of national security importance and said NATO members should develop their re sources. As an example, he said natural gas status was hotly debated in Brussels but is now accepted as a cleaner fuel. The U.K.’s dependency on Rus sian gas and imports had grown well north of 50 percent. According to shale industry experts, 100 new wells could cut that to 10 percent.
80 bcf
Spans Northern Louisiana and Eastern Texas
150 bcf
A natural gas advocate, Yates offersfacts about the impact of developing indigenous resources: surface use is very limited, carbon is a fraction compared to importing it, and no rare earth min erals from China or child labor are involved.
What’s happening in Europe is reminiscent of America’s experience about 15 years ago, when green ambitions and fossil fuel use collided. Then came the Great Recession. Things changed. Shale gas was taking off, then oil.
Spans 25 Counties in North Texas (tier 1)
300 bcf
Spans Parts of Five States in the Appalachian Basin
We’re here again. This time, we aren’t faced with Putin’s direct war machine but remnants of his longtime and well-documented anti-shale dis information campaign.
Given the backdrop of the energy transition and Europe’s energy crisis, Yates calls the decision coun tries face between importing gas from Russia or developing their own “truly a binary choice.” Putin’s regime has been playing geopolitical chess for many years, and Yates says the Russian president under stands energy systems better than most policymakers in Europe. “They assumed Russian gas was reliable and that renewables would work, but intermittency issues have revealed shortcomings,” he says.
650 bcf
Spans Coast to Coast in Central Britain
In the past decade or so, seven European coun tries banned fracking, pressed to do so by envi ronmental organizations. But an energy crisis has stunned Europe. The situation was exacerbated by an unprecedented summer heatwave—and winter looms large. And the war waged by Putin is in Eu rope’s backyard. “It’s the equivalent of tanks roll ing into West Texas,” says Yates. While Europe was
focused on going green, Putin dreamed of taking advantage of the moment through land coups.
A vast fissureis opening between the use of fos sil fuels as a majority fuel source and electrific tion. The reality is that approximately 80 per cent of global energy is sourced from fossil fuels, including coal. The electrifiction of advanced economies has many headwinds—critical miner als’ supply chains for electric vehicles, issues sur rounding grid capacity, renewables intermittency, major transmission gaps, and NIMBY (not in my backyard). Many energy experts say natural gas and nuclear are the way forward, given the need to burn less carbon and continue reliable power generation. Natural gas with carbon sequestration helps. In choosing a country’s optimal energy mix, leaning on its own resources firt is Yates’ answer.
U.S. oil and gas firmsare decarbonizing, and few er imports also mean less carbon. Then there’s the net-zero quest and the influenceof environmental, social, and governance factors. They are two very different but overlapping drivers of capital flow
According to Yates, net zero is a pseudo-scientifi approach to reducing carbon emissions. “We have to recognize our place in geologic time,” he says. “We
are in an interglacial period, which gets warmer.”
In the quest to combat climate change, “there are at least 16 differentvariables that go into climate, and we have focused on one, without knowing their relative weightings. It is the one variable with the connection to man’s burning of fossil fuels.”
It may be that decarbonization is an insurance policy for now. Yates says the U.S. will continue to build oil supply this year and next but in the context of being short oil around the world. OPEC doesn’t have the additional barrels. “They cut down invest ment in 2020 and are sufferingthe same problems as the world market,” he assesses. “The only excess capacity is in the UAE and Saudi Arabia, and it’s marginal from what I understand.” I ask if we’re calling their bluff. “Yes, we’re calling their bluff;the market is calling their bluff,” Yates says. “We’ve not been in a situation where we’ve run out of oil phys ically—it has never happened.” The market needs 2 percent excess capacity to function well, about 2 million barrels per day at minimum, he adds.
Until more oil is developed, we’re operating on the edge of supply and demand. “Price signals are there for development but think how long it’s going to take us to return to a 2018–2019 market set up with the right capacity, sand, pipe people—every thing,” Yates warns. “When you lack capacity, how do you make up for a spike in demand, an outage, or a pipeline problem? In a few months, we may be drain ing inventories worldwide.”
Yates has lived through deregulation, price controls, profound technological ad vancements, and many em bargoes. “When I started in the industry, continental drift was not a universally-accept ed theory,” he recalls. The two most momentous events in his career—the U.S. unconven tional revolution and the glo balization of the gas market— are happening right now and are complementary. “I knew it would happen, but I did not know we would be so com pressed in time,” Yates says. “Russia was the catalyst?” I ask. “Yes, Russia was the cat alyst,” he says.
1924 Martin Yates Jr. and his partners complete the firt commercial oil well on state lands in New Mexico.
1969 One of Martin’s four sons, Harvey, forms the Harvey E. Yates Co., which goes on to become a cornerstone of HEYCO Energy Group.
1980 s HEYCO pioneers the Delaware Basin’s Bone Springs as a conventional play.
1987 Led by Harvey’s son, George, HEYCO expands to Europe.
2001
HEYCO opens a HQ office in Dallas.
2007
HEYCO is part of a group that discovers the Avington Field in southern England.
2015
HEYCO subsidiary, Harvey E. Yates Co., is acquired by Matador Resources in a cashand-stock deal.
2022 CEO George Yates joins other industry leaders in successfully pushing the U.K. to lift its fracking ban.
EU
BY DON SMITH
Edwin D. Tatum TATUMTEK TOUGHEST CHALLENGE
“the idea for tatumtek was an iterative process spanning a decade. after a stint playing professional basketball in Latin America, I began investing in residential construction proj ects. During this time, I became frustrated with the change orders, inspection process, and delays. Thinking there had to be a better way, I obsessed over alternative construction methods. After study ing international markets, I found that modular construction had been proven to be a better option in property types ranging from homes to high-rises. I wanted to disrupt the industry to provide better value to customers. These events led me to get my MBA from SMU, where I focused on two things: creating a business plan around my idea and cultivating the skillset to lead my firm through phases of growth. The biggest challenge facing entrepreneurs is often a lack of capital to execute a vi sion and the associated sacrifices it takes. There is also a spiritual, emotional, and mental tax I wasn’t prepared for. Entrepreneurship is not for the faint of heart, and there is a high cost to see a vision through. Fortunately, we have amazing partners who have undergirded our mission with deferred payments and a passion to see our vison come to fruition.” — as told to Ben Swanger
gambling is already happening in texas under lawmakers’ noses. The catch? The state is not profiting a dime. Brandon DuBreuil, sports betting expert for online betting resource Covers, estimates that the volume of illegal, offshore, and unregulated sports betting within Texas ranges from $5.4 billion to $21.6 billion per year. The revenue from those bets trickles into the nations operating the betting platforms, such as the Isle of Man, Curaçao, and Costa Rica.
The same theme ran through New York be fore online sports betting went live at the start of 2022. In August, the state estimated that year-to-date legal sports wagers came in at $9.7 billion. Total take home for New York in tax rev enue, on a steep 51 percent tax rate, was nearly $370 million—with 100 percent of that going toward education aid, youth sports leagues, and responsible gambling programs.
If legalized in the 2023 legislative session, the Texas sports betting market has the potential to reach $14.9 billion.
SPORTS BUSINESS
story by BEN SWANGER
The blueprint is out. But why is Texas—known for attracting global corporations, creating abundant opportunities for entrepreneurs, and a $91.8 billion sports tourism industry—so gunshy on this legislation?
“If you just put common sense on it, Texas is the most aggressive state in the country trying to lure businesses to relocate here,” says Brad Alberts, the Dallas Stars CEO. “We have all these great tax in centives and benefits to grow our state economy, and now sports betting needs to be directed to helping Texas businesses and citizens.”
With the state seeing its worst inflation rate in 40 years—the Consumer Price Index has jumped 9.4 percent in DFW in 2022—Texas legislators, who will meet to discuss legalizing sports betting in 2023, could push it through to combat the re cord spike. “From listening to Texans from across the state … I think it would help address some of the challenges we have in reducing inflation and property taxes in the state,” Democratic guber natorial candidate Beto O’Rourke said at a Dal las press conference in April.
Nationwide, the sports betting market in 2021 was an estimated $76.75 billion. By 2029, Data Bridge Market Research believes that fig ure will balloon to $167.66 billion—accounting for sweeping legalization across the remaining 20 states that still outlaw the practice. With Texas responsible for around 8.9 percent of the country’s population, sports betting in the Lone Star State could potentially be a $14.9 billion market. In 2021, the last time legislation met to discuss the potential legalization, Rep. Dan Huberty proposed a bill that placed a 7 percent hold and 10 percent tax on sports wagers, mean ing take home for the state, once the market is mature, could be approximately $106.5 million.
The Texas Rangers, Dallas Mavericks, Dallas Cowboys, and Dallas Stars are all part of the Sports Betting Alliance, alongside other teams in Houston, Austin, and San Antonio. The alli ance, which boasts betting partners BetMGM, DraftKings, and FanDuel, gathers every three or four months to discuss the strategy for a ffecting sports betting legalization. Alberts believes all the teams are at a disadvantage due to the inabil ity to bring in revenue from sports betting part nerships and brick-and-mortar sportsbooks.
“Every year, the salary cap goes up, and part of
that is due to the increased revenue in sports bet ting,” Alberts says. “If the Stars can’t bring in that revenue, then we can’t keep pace with the cap and our ability to fund a competitive team suffers.”
The same holds true for the Dallas Wings—who posted an 18-18 record in 2022—says Greg Bibb, president and CEO. “If you look at the Phoenix Mercury, who have a very lucrative sports betting partnership, revenue for their business is signifi cantly enhanced, and that creates competitive advantages for their athletes,” he says.
Gambling companies are already claiming territory in Texas. In 2021, Choctaw Casinos & Resorts purchased the naming rights to the Tex as Rangers’ former stadium. In 2022, it inked a four-year presenting sponsorship with the In vited Celebrity Classic golf tournament. In May of 2022, BetMGM—which is on pace to report $1.3 billion in revenue in 2022—was named the exclusive sports betting partner of the Houston Astros. In addition, Las Vegas Sands, which re ported $12.1 billion in revenue before the pan demic in 2019, spent $6.3 million lobbying for legalized gambling at the Texas capitol in 2021. This past February, it launched a $2.3 million political action committee in preparation for the 2023 sessions with more spending on the horizon. Finally, WinStar World Casino and Re sort is a partner with the Dallas Cowboys as the casino boasts a Dallas Cowboys Bar & Grill in its Thackerville, Oklahoma-based casino.
Kelly Pracht, co-founder and CEO of Dal las-based micro-betting pioneer nVenue (see sidebar), a predictive analytics startup that has partnerships with the MLB and Apple TV, believes this momentum is the pressure Texas legislators need. “Texas will have a lot to think about if they are one of the fi nal holdouts on this matter,” she says. “But looking at the data and the precedent New York just set, we could see some movement in the upcoming po litical meetings.”
For Alberts, he is not just expecting movement; he is expecting the tides to change. “I’m optimis tic it’ll get through the House and the Senate,” he says. And if it does, in November of 2023, Texans will have the opportunity to vote it through or down—with the potential that it could go live as early as 2024. “Everyone’s eyes are finally start ing to open on this,” Alberts says.
TRENDS TO WATCHDallas-based nVenue is one of a handful of micro-betting companies in the United States. But what exactly is micro-betting? Simply put, it’s betting on individual moments in a game not related to the final sore. Micro-bets happen in real-time as the game progresses. This past September, the company’s seed round hit $4.5 million following a $1 million investment from the Eastern Band of Cherokee Indians. “I am certain that micro-bets are going to be the way Americans bet in the next fie years,” says co-founder and CEO Kelly Pracht.
“Seventy-fie percent of bets in Europe are micro, and our numbers show that is where we are trending, too.”
President and CEO CITY ELECTRIC SUPPLY CO.
“Despite the challenges of the pandemic and supply-chain issues, we finished our bigest fiscal yea ever in April 2022. In the past fiv years, our business has doubled. We’ve committed to providing our customers access to renewable energy, acquiring Soligent, the largest pure-play solar distributor in the Americas. We’re thinking ahead to the future and recently added several global positions to integrate our effots worldwide.”
CEO RICOCHET FUEL DISTRIBUTORS
“I am gradually passing the baton to my daughter, Cass, who will take over running Ricochet Fuel Distributors in a few years. Being able to share my knowledge while allowing her to bring in new ways to be successful and set a vision for the company has been a delight. I’m having to learn how to step aside and be quiet, but watching her lead and design our future strategy is what excites me most about the future.”
ALLEN NYE CEO ONCOR ELECTRIC DELIVERY“Oncor is coming offone of the best years in the history of our company. From our $770 million in earnings to the more than $2.5 billion in capital we deployed across our system, we’re seeing unprecedented growth across our service territory. We connected 70,000 new homes and businesses to the grid last year, one of the highest organic premise growth rates in recent company history; it is a clear sign of our state’s continued strength.”
ON TOPIC
Client relationships, combined with a passion for what we do, power our steadfast commitment to the energy industry. Our team tailors financial solutions to help upstream and midstream clients succeed, both in the boardroom and the field.
Give us a call and experience our shared entrepreneurial drive.
469.801.7360 | energy@eastwestbank.com eastwestbank.com/energy
Public relations guru Amy Power says a catastrophe can hit any company. Smart leaders will make sure they’re prepared.
PREPARE FOR THE WORST-CASE SCENARIO. It’s not fun to think about travel disasters, fie, theft, cybersecurity, sexual misconduct, product tampering or recalls, illegal activities, and plenty more. But the reality is, your business is vulnerable to any number of these issues. Take the
Iin early 1993, i secured a spot as a member of the public relations team for PepsiCo. Working on one of the largest beverage brands was exciting, but most of the time it was business as usual—until one day when it wasn’t. On June 10, 1993, the media began reporting multiple cases of syringes and other foreign objects being found in cans of Diet Pepsi. One incident on the West Coast quickly became national news. Reporters were hungry for facts, and consumers were frightened. As a junior PR executive, I watched from the sidelines with fascination, marveling at the focus, speed, and measured steps of the PR crisis team that successfully beat back one of the most bizarre, brand-threatening crises of the time. This event piqued my passion for digging into crisis management because I realized that solving business problems is nev er boring. What’s at risk? Reputation. Sales. Trust. Stock price. The future. And although most PR crises can be painful to navigate, I’ve learned that in every crisis, there is an opportunity. Here are four things you can do as a leader to minimize risk and be ready for the unknown:
time to evaluate possible scenarios that could derail your business.
2.IT’S NOT IF; IT’S WHEN. Some types of business es—restaurants, commer cial real estate, childcare facilities, and hospitals, just to name a few—may be more vulnerable than others. One CEO balked when I encouraged him to prepare a crisis plan, but six months later, we were responding to an inves tigative journalist in one of the top media markets on the Eastern seaboard. The lesson: a crisis can happen to any company, anywhere, anytime.
TIME IS OF THE ESSENCE.
The firt minutes of your response to a crisis can influene years of impact. Social media has sped up the timeline, and it steers leaders to worry more about what they are going to say rather than thinking about the issue at hand and how to solve it. While a timely response is critical— especially when the news media needs facts—leaders must respond quickly with a sincere voice and tone and transparency as to what the company is doing to handle the crisis.
WORK THE PLAN. Roughly one-third of com panies don’t have a crisis response plan. And it won’t do any good if the plan is sitting on your computer desktop. When you take the time to practice and run a drill, you will be more calm and more logical when the real thing occurs.
Amy Power is the founder and president of The Power Group, a Dallas-based public relations agency.
PHOTOGRAPHY BY CLINT BREWER
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Cooper Aerobics President and CEO
Dr. Tyler Cooper has defied death while summiting the world’s tallest peaks.
story by WILL MADDOX
PURSUITS
THE PERSONAL SIDE of DFW BUSINESS LEADERS
earlier this summer, dr. tyler cooper was hanging offthe face of a 1,800-foot ver tical wall on the side of Mount Whitney in California, the tallest mountain in the con tiguous United States. It is one of the 74 peaks in the lower 48 that are at least 14,000 feet high. Over the last 25 years, Cooper has completed his mission to climb them all.
They weren’t all as harrowing as Mount Whit ney, but plenty of the summits involved technical climbing with ropes, harnesses, and certain death below. Cooper is a former Baylor University track athlete who is now president and CEO of Cooper Aerobics, which includes seven different health and wellness entities. In short, he comes by his pursuit of physical achievements honestly.
A formative moment was as a child with his father, Dr. Kenneth Cooper (found er of the Cooper Clinic), as they climbed a smaller peak in Europe. Tyler remembers wanting a cam era to capture the view. His father had another way of appreciating the mountains. “Just put it in your mind, and it’ll be there the rest of your life,” he told his son. Ever since that moment, the younger Cooper says, “there’s always been a special bond with the mountains.”
When he graduated high school,
Ehe climbed Africa’s highest mountain, Kiliman jaro, back when it still had signi ficant amounts of snow at its summit. He has already climbed the highest mountain in both North America (Denali) and Australia (Mount Kosciuszko). The climb in South America, however, proved to have a di fferent result.
In 1998, he attempted to get to the top of Aconcagua in the Argentinian Andes moun tains when a blizzard slammed his group. They were stranded in the storm for three days, stuck at 17,000 feet elevation. Cooper ended up with cerebral edema, where fluid develops in the brain and causes it to swell; the group ultimate ly descended, and he recovered.
“That was harrowing and the closest I’ve come to having a death event in the mountains, but it didn’t scare me away,” Cooper says. “It made me appreciate the magnitude of how seriously you have to take them.”
Over the years, he has been involved in rock slides, fallen into crevices, and come face to face with a bear. He says he remains alert and cautious, makes sure to stay in the top physical condition, and hires guides for more challeng ing climbs. At times, he has had to turn around and give up on a climb for which he has pre pared for months. “The summit is halfway. If you don’t come down alive, you didn’t make it,” he says. “It’s a humbling experience.”
THE GRAND TETON: Climbed in 2008, this 13,775-foot mountain was an enjoyable technical climb on a classic mountain in Wyoming.
MOUNT FUJI: Summitted in 1985, the 12,388-foot peak was an easier climb that Cooper hiked with his dad when he was just 14 years old.
SHACKLETON TRAVERSE: Marking the 100th anniversary of Shackleton’s crossing of Antarctica in 2016, the four-day boat ride to South Georgia Island was an adventure in itself.
PEAK: Cooper’s firt ski mountaineering trip with his eldest son (hiking up and skiing down) was on this 13,209-foot peak in central Colorado in 2020.
CALI CLIMB A harnessed Cooper ascends Mount Whitney’s east face.
WHAT I DO:
“I’m the founder and CEO of Flea Style, which has fie retail stores in DFW selling women’s clothing, accessories, and hats. I also own Wide Brim, a specialty boutique inside Hotel Drover in Fort Worth, and Heirloom Haul, a restaurant and tearoom housed inside our Flea Style store in Frisco.”
STYLE ICONS:
“I am influened by so many stylish women and take bits and pieces from them to create my own look. I especially adore Coco Chanel, Diane Keaton, and Rachel Zoe. I am drawn to women who are rooted in the classics but are not afraid to break the style rules—and wear a hat!”
ON THE JOB:
“On some days, I’m running meetings, while on others, I’m running the dishwasher in our restaurant. Every day I need to be dressed for a board meeting but also be comfortable enough to roll up my sleeves and help the kitchen or our distribution team. If it’s a day in Fort
Worth, boots are a must to handle the historic cobblestone streets leading up to our stores.”
FASHION INSPIRATION:
“I’m inspired by my California roots, fle markets, mom life (comfort is always key), and my love of hats. I adore things that tell a story—a chunky amber necklace scored in Morocco, vintage Chanel blazer scored at the Paris flea—and ceate one-of-akind style.”
STYLE DEFINED:
“I’ve always loved the art of mixing styles, whether it be by era, price, or vibes. Overall, I would say my style is boho-chic and heavily influened by my California/Western roots.”
FASHION ESSENTIALS:
“I never leave home without my phone, vintage ’70s Rolex, Stetson hat, oversized sunglasses, ChapStick, and Orbit sweet mint gum.”
GO-TO LOOK: “Jeans, a blouse, vintage belt, wide brim hat, 2-inch hoop earrings, and heels.”
HOW I ACCESSORIZE:
“I am a maximalist and love to layer. You’ll always find me with mix of metal necklaces, a decorated hat, and a worn vintage belt with whatever I’m wearing that day. I never leave the house without an oldschool watch, too.”
“I trade my wide-brimmed hat in for a trucker hat.”
FAVORITE STORES: “Outside of Flea Style, I love Anthropologie and Target for everyday items and Chanel, Gucci, and The RealReal for splurges.”
ART OF STYLE BOHO CHIC Retail exec Brittany Cobb’s personal style is influened by her California roots. COURTESY OF FLEA STYLE
The wine country northeast of San Francisco is an ideal place to eat, drink, and be merry, says Amazon executive Vickie Yakunin.
story by HAMILTON HEDRICK
my knowledge of wine is limited at best.
One mention of tannins, and you’ve lost me. Much to my surprise, on a recent trip to Napa Valley, I discovered wine to be not so intimidating, even for a novice like me.
I began my journey in historic town Calistoga, home to the Four Seasons Resort and Residenc es Napa Valley. Located within a vineyard and host to the onsite Elusa Winery, the resort offers a luxe spa, two pools, several dining options, and off-site excursion opportunities.
After settling into one of the well-appointed guest suites, I headed to dinner at Truss Restau rant + Bar. With its indoor-outdoor approach to design, the space offered spectacular views of surrounding vineyards and the Palisades peaks. Led by Chef Rogelio Garcia, Truss dazzles with its wide array of selections. I opted for a simple little gem lettuce salad, followed by the Austra lian Wagyu with confit garlic and herb butter. For good measure, I added the heirloom carrots and truffle parmesan fries. It was a good call.
If you are like me and sometimes prefer the company of animals to people, a visit to Tamber Bey Vineyards is a must. A former horse ranch turned sanctuary (ask about the miniature horses) and winery, features handcrafted wines by vintner Derek Flegal. While visiting, opt for the delightful savory cookie paring in the gar den courtyard.
For another exceptional dining experience, I visited Acacia House in nearby St. Helena. Led by Top Chef Masters winner Chris Cosentino, it provides an elevated take on American cuisine with a locally sourced, seasonal menu. I started
Mwith one of the signature cocktails (standouts are the Vesper Martini and Mexico City Margar ita), then moved onto the heirloom tomatoes and stone fruit, followed by expertly pan-seared scal lops. The Iberico Pork Schnitzel and Spice Prime Striploin also impressed.
Rounding out my time in Napa, I headed south toward Stanly Ranch. The new Auberge proper ty, nestled into a 712-acre ranch, boasts 78 pri vate bungalows and suites, an extensive list of amenities, and endless vineyard views. Be sure to make time for a Swedish massage or other treat ments at its onsite spa, Halehouse, and explore its various hot and cold steam rooms, salt therapy area, private pool, and, if you’re up for it, a hyper baric oxygen chamber.
Known for its rich culinary program and grown-onsite ingredients, Stanly Ranch’s signa ture restaurant, Bear, is led by Executive Chef Garrison Price and Farm Director Nick Runkle. I recommend the fresh tagliatelle, and for the main, the peppercorn-roasted short rib. Both were delicious.
While in the valley, stop by Thomas Keller’s icon ic Bouchon Bistro, just offMain Street in Yountville, for a decadently Parisian lunch. The French bistro offers an extensive raw bar, plus several seasonal classics. Don’t let the extensive wine menu scare you; the knowledgeable staffis there to offer plen ty of suggestions. Highlights include the Soupe à l’Oignon (French onion soup), Steak Frites, and Poulet Rôti (French-style roast chicken).
After lunch, schedule an afternoon visit to the Silver Trident Winery. Located within a Ralph Lauren showroom, the unique experience is highlighted by its gourmet potato chip and wine paring. Yes, please.
As part of your wining and dining tour, visit Torc in downtown Napa, owned by husband-and-wife team Sean and Cynthia O’Toole. The lively restau rant offers an extensive selection of wines—some that can’t typically be found by the glass—and farm-to-ta ble treats that show offthe region’s renowned produce. I’m still dreaming about the tempura squash blossom and house-made radiatori pasta.
After five days in Napa, I managed to leave a few pounds heavier, with a suitcase full of wine and a blind con fidence in deciphering wine menus when I dine out in the future. Just don’t ask me about tannins.
Apart from sparkling wine classic Schramsburg, Amazon executive Vickie Yakunin avoids the tourist traps of California’s Napa and Sonoma valleys. “If there is a tour bus in front of the winery, you will not find us thee,” she says. Yakunin and two friends often take girls’ trips to California’s wine country, staying at Hotel Yountville to enjoy its peaceful pool and proximity to Bouchon Bakery—a must-visit breakfast spot in the small town just north of Napa. She also recommends Piña Napa Valley, a small cabernet winery on the region’s Silverado Trail, and Von Strasser. “Sitting by ourselves in a peaceful forest setting, with no one else but the server who is bringing us flights of wine—tht is what I want to experience,” she says.
Kelsey J. Vanderschoot
TRAVEL TIPS
SIP AND SEE Dine al fresco on the wrapping porch at Acacia House.
On some days, Blackman and his sister, Angela, had to rely on school lunches to avoid going hungry.
ASSIMILATING Blackman (left), with his sister and cousins, says he understands what it takes to succeed as an immigrant.
Although he moved to the U.S. as a child, Blackman wasn’t granted citizenship until 1986.
former dallas mavericks shooting guard Rolando Blackman—whose No. 22 jersey hangs in the rafters at American Airlines Center—grew up in Panama until the age of 8. In 1967, he moved to Brooklyn to live with his grandmother, before college at Kansas State University and a 13-year NBA career. He’s now vice president of corporate relations and a DEI ambassador for the Mavs. Here, he shares how he tapped into the passion and intensity that has fueled his success:
“In Panama, my father and mother fought ver bally and physically on a regular basis from the time I turned 5. I would get between them and leave with a busted lip. When I arrived in Brook lyn, it wasn’t much different. Between the Civil Rights Movement and Vietnam War protests, it
was a jungle. Everywhere I went, I had to think ‘Where do I run to if I hear gun shots?’ I’ve car ried that intensity with me in the form of two people living within me; there’s the nice Rolando most people know, then there’s the assassin Ro that comes out in action. I was cut from my sev enth, eighth, and ninth grade basketball teams, and I fell into a deep depression. It wasn’t until the 10th grade that I finally made the junior var sity team, and my samurai was able to come out. That gave me direction; it gave me the gumption to go take success. I have a deep understanding of what it takes to succeed as an immigrant here in America—especially if you have color on your skin. The rules are not fair at all, but my upbring ing helped me play basketball at a high level.”
as told to BEN SWANGER illustration by JAKE MEYERS
The Real Estate Council (TREC) and TREC Community Investors would like to extend a special thank you to all our 2022 FightNight sponsors. Through your generous support, we have been “Breaking Ground” in our region with incredible developments and breaking down barriers for communities overlooked for decades. We recognize that we are all Community Investors, and we also celebrate our hundreds of members who have given their expertise and time to rebuild our community.
TREC Community Investors joins forces with underserved communities to invest in the disinvested, energize neighborhoods, and change lives. As the only commercial real estate organization of our kind with access to flexible capital and real estate expertise, we make an unwavering commitment to build a lasting impact in the communities we serve. This unique approach ensures each investment, including every dollar invested through FightNight sponsorships, is leveraged at least four times to maximize the impact with nonprofit organizations we serve. We strive to continue elevating neighborhoods, addressing systemic issues, and paving the way for strategic growth that provides more services, more jobs, and more opportunities.
Be a Community Investor and help Build the City We Imagine. Learn more at TRECcommunityinvestors.org.
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SUPER KNOCKOUTSUPER IN THE RINGSUPER HEAVYWEIGHT
STATE
As Dallas continues to attract more businesses and people, surrounding cities are also benefitting fom its growth. CEOs and their employees who crave a small-town feel, as well as businesses looking for tax advantages and other perks, are quickly claiming space in Dallas and its suburbs. Here, local economic development experts reveal why their cities are in demand for corporate and residential development.
Town of Addison Economic Development & Tourism Department AddisonED.com
EDC Contact: Orlando Campos 972.450.7034 ocampos@addisontx.gov
Population: 16,263
County: Dallas
Major Businesses: Mary Kay Cosmetics, Hitachi Consulting, Concentra, Bottle Rocket Studios, Wingstop, Cinepolis USA, Supreme Lending, Occidental Chemicals, Projekt202, ExponentHR, Systemware, Gehan Homes
How has Addison’s EDC sustained interest as an attractive option for companies seeking new alternatives and locations, given the challenges of the past few years on the economy and daily work life?
In a post-pandemic environment, companies are searching for a location that can promote a live/ work balanced environment.
Addison is a community that focuses not only on promoting an environment that is business friendly, but also creating a community that has quality greenspaces and is filled with amenitis, such as diverse quality restaurants and entertainment venues.
Mixed-use developments, such as Addison Circle Park and Vitruvian Park, promote walkability with
lush greenspaces and wide sidewalks and offer quality neighborhood services all within a 4.4-squaremile area. Our world-class special events, such as Taste Addison, Kaboom Town, and Oktoberfest, add to the cultural appeal of the community. It is often said that there is always something to do in Addison.
How does your city differentiate itself from others in the region? Addison is an urban oasis that has the look and feel of a large city but maintains a relatively small population. Within our 4.4-square-mile area exists more than 200 restaurants, 20 hotels, over 1,800 businesses, and one of the state’s busiest general aviation airports with more than 700 private planes based here. Our community offers businesses all the ancillary support services to be successful in an aesthetically pleasing environment that is strategically located in the growing North Texas region. Because of Addison’s location,
businesses can tap into a higher-quality labor force.
What kind of new developments are in the pipeline?
Addison currently has more than $1.2 billion worth of new developments in the pipeline that have been approved and will soon break ground in the community. These projects include new residential, office, and corporate hangar developments. One such project is the Addison Circle Transit Oriented development, which is valued at close to half-billion dollars. This new development will include two luxury multi-family projects, two Class A office buildings, and an entertainment venue. Residents and businesses located at Addison Circle will be able to take advantage of the new DART Silver Line in 2024 which will connect Addison to DFW Airport, UT Dallas, and downtown Plano. This new development will also be located across the street from the 12-acre Addison Circle Park.
City of Anna Economic Development Corporation opportunityannatx.com
EDC Contact: Joey Grisham 214.831.5394
joey@opportunityannatx.com
Population: 21,014
County: Collin
Major Businesses: Branco Manufacturing Omnimax USA
What type of new-build activity are homebuilders experiencing, and what’s next for the sector in the coming months?
Anna’s pro-density approach is attracting a range of builders, who are mixing single-fam ily homes with affordable multi-family, townhome, and build-for-rent offerings to en sure Anna’s labor force can live and work in the city. Megatel’s 2.3-acre crystal lagoon project, AnaCapri Laguna Azure, will bring 2,000 single-family homes and 600 multi-family units to Anna. Bloomfiel Homes’ Crystal Park mixed-use development along U.S. High way 75 will add single-family homes, a professional campus, multi-family, and commercial space. We estimate the devel opment of over 14,000 new single-family households and more than 2,500 multi-fam ily units in Anna’s trade area during the next fie years.
How has the Dallas-Fort Worth region’s market growth impacted development and
offerings in Anna over the past three years?
Our prime location in northern Collin County along U.S. Highway 75 offers a home where businesses can flourish and neighbors can enjoy an exceptional quality of life. In the past three years, we added 70-plus new businesses and finalied agreements for commercial and residential projects representing investments of more than $3 billion.
Much of this growth stems from projects landing in Collin County and Sherman, which provide new opportunities for Anna. Along with national retailers and restaurants, we have available industrial land with infrastructure on the Collin County Outer Loop, which includes a planned extension to connect Anna to the Dallas North Tollway, State Highway
5, and State Highway 121. The Anna 2050 Downtown Master Plan focuses on downtown revitalization and includes our new 37,000-square-foot municipal complex, home to our city hall, and police and fie stations.
How does Anna differentiate itself from others in the region?
When you visit Anna, you’ll find a ommunity that starts with ‘yes,’ offering a strategic plan focused on economic development and a permitting process that averages two days. With 61 square miles of land and a premier location in northern Collin County, Anna provides its neighbors with a vibrant, thriving community and offers businesses an opportunity for expansion or a place to call home.
OF ANNA
The City of Anna’s new Municipal Complex opened for business this year and is home to city offices as well as the city’s new police and fire stations.
Anna’s historic water tower overlooks Sherley Heritage Park and is adjacent to the city’s downtown area.
The Colony Economic Development Corporation TheColonyEDC.org
EDC Contact: Keri Samford, AICP Executive Director of Development 972.624.3127 edc@thecolonytx.org
Population: 44,000
County: Denton
Major Businesses: Nebraska Furniture Mart Rave Restaurant Group
Sanyo Energy U.S.A. Corp. Scheels All Sports Quest Resource Management Group
How has The Colony sustained interest as an attractive option for companies seeking new alternatives and locations, given the challenges of the past few years on the economy and daily work life?
When it comes to the factors companies evaluate for expan sion or relocation, The Colony continues to rank high in all areas including low taxes, an educated workforce, diverse housing choices, a convenient and central location within Dallas-Fort Worth, excellent schools, and a unique quality of life that encompasses both exciting amenities for shop ping, dining, and entertain ment as well as the natural assets of Lewisville Lake and a parks and trails system that offers connectivity throughout the city and beyond.
How does The Colony differentiate itself from others in the region?
The Colony is a Texas Desti nation with unique, fist-tomarket concepts in the retail,
restaurant, and entertainment sectors, including the 433-acre Grandscape development, recently named the “Most Innovative Development in the World” at the Global RLI Awards held in London. Grandscape topped four other properties, all located in Asia, to receive this global distinction! The opening of the Grandscape Lifestyle Center in 2020 and Grandscape Live in 2021 further confirms our di tinction as a Texas Destination, not only for commercial de velopment but new residents and visitors. Grandscape Live offers 345 luxury apartments surrounded by the Grandscape amenities. Other residential communities in The Colony, like Austin Ranch, ensure that a fabulous lifestyle is literally steps from your front door. And thanks to our technology infrastructure, residents don’t have to choose between living in a cool place or living near their workplace.
What product and/or development does The Colony have coming online that fills need in the market today?
The Colony continues to work together as a community to
offer diversity and strike the balance between an enviable lifestyle and an environment that fosters business success. We currently have the Live Oak Logistics Park underway, which will offer more than 1 million square feet of industrial space with incoming phases to meet the high demand in this market segment. We also continue to have strong interest for entertainment, retail/restaurant, and high-end fl x office space. On the fli side, a great example includes a new trail that connects The Cascades development to Grandscape. The trail runs under State Highway 121 along the railroad Right of Way. This is a unique design not replicated in many other cities and is a part of a Trail Master Plan that connects the entire city and answers today’s desire for a community that is bikeable and pedestrian friendly. When a business fis our culture, and brings value to the community in terms of quality of life, employment opportunities, and a return on investment, we can be very creative and aggressive in terms of incentives and assistance.
The Live Oaks Logistics Park will offer more than 1 million square feet of industrial space with incoming phases to meet the high demand in this market segment.
City of Dallas
Office of Economic Development dallasecodev.org
EDC Contact: Robin Bentley 214.670.1685 robin.bentley@dallas.gov
Population: 1,288,457
County: Dallas
Major Businesses: AT&T, Energy Transfer, CBRE Group, Tenet Healthcare, Texas Instruments, Jacobs Engineering Group, HollyFrontier, Southwest Airlines, Builders FirstSource, EnLink Midstream, Primoris Services, Comerica, Brinker International, Atmos Energy, AMN Healthcare Services, Match Group, Hilltop Holdings, Copart, Trinity Industries, Arcosa, Valhi
How has Dallas sustained interest as an attractive option for companies seeking new alternatives and locations, given the challenges of the past few years on the economy and daily work life?
Dallas has long been focused on sustainability and livability through smart city innovation, public transportation, increasing mixed-use development, and cultural and recreational opportunities, including our great parks system.
As businesses have changed their work models, maintaining Dallas as a great place to live and work ensures we have the talent for existing and future companies. We have seen this approach pay off over the past year with three major corporate expansion projects, including CBRE, Goldman Sachs, and Revantage—all companies that want to be in Dallas for the urban experience.
How does Dallas differentiate itself from others in the region?
Dallas is the only urban choice in North Texas—the place where density, diversity, and innovation intersect. Dallas has 340 square miles of new and historic neighborhoods; 150 million square feet of office space; 1.29 million residents; a comprehensive transportation network, including fie interstates, three airports and DART; world-class arts, museums and parks, and a diverse economy. During the past fical year, the City of Dallas has committed almost $200 million for incentives, which leveraged commitments for $1.4 billion in new capital investment and will lead to the creation or retention of 8,184 jobs.
What financial tax incentives, or other programs have been created to help Dallas attract businesses?
Dallas has a variety of tools and incentive programs, including tax increment financing ditricts, Property Assessment Clean Energy financing New Markets Tax Credits, Foreign Trade Zones, tax abatements, Chapter 380 grants and loans, general obligation bond program, freeport tax exemption, and Opportunity Zones. We are excited to be unveiling a new economic development incentive policy later this year to make our tools more applicable to more Dallas
projects, which we anticipate will spur additional develop ment in Southern Dallas and other areas that historically have experienced under-in vestment. Finally, the City of Dallas recently created a new Dallas Economic Develop ment Corporation, which will also help us market and attract businesses to Dallas.
In a post-pandemic environment, how is Dallas reimagining where residents live, work, and play and evolving in an unpredictable climate?
The pandemic has showed us how vital it is to have usable, walkable outdoor spaces.
Dallas has been focused on enhancing our downtown parks for more than 20 years, and we are thrilled that we have over 20 acres of beautiful green space, including Klyde Warren, Belo Gardens, Main Street Garden Park, and our most recent addition, Carpenter Park which opened earlier in 2022. Providing outdoor community meeting spaces, public access, and outdoor dining have really enhanced our downtown areas as people returned to in-person activities. Many of our local and neighborhood retail and hospitality businesses have increased their outdoor seating and updated technology with curbside and to-go becoming much more common. Maintaining these neighborhood businesses are vital to keeping our community strong and livable.
Downtown from the Trinity River basin
STATE OF
City of Farmers Branch farmersbranchtx.gov
EDC Contact: Allison Cook, Director of Economic Development 972.919.2507
allison.cook@farmersbranchtx.gov
Population: 48,000
County: Dallas
Major Businesses:
Tenet Healthcare Interstate Batteries
Trinity Industries Freeman Companies TD Industries Scout & Cellar
What type of new-build activity are homebuilders experiencing, and what’s next for the sector in the coming months? Considering most of Farmers Branch is completely built out with homes over 50 years old, the tear and rebuild activity remains strong in our central area. The Demo Rebuild Program provides a cash grant and property tax rebate for new construction.
What are the fie most important needs of businesses when choosing a site location, especially now? First, the specific eal estate always has to work for the business. Each business has varying needs, ranging from desire to lease, or own, proximity to certain highways, proximity to existing employees’ homes, local retail amenities, and low response time for police. Depending upon the business, they will each answer the question differently based on their needs. But, the available real estate space is the most
important and the other needs follow.
How has the Dallas-Fort Worth region’s market growth impacted development and offerings in Farmers Branch over the past three years? The region’s market growth has increased the pattern of redevelopment in Farmers Branch. As a tier two city, we have the location and real estate needed in a growth market. As tier three cities continue to develop large neighborhoods, employers closer to downtown or the Dallas North Tollway corridor continue to look for favorable commute times, giving Farmers Branch an advantage.
What financial tax incentives, or other programs have been created to help Farmers Branch attract businesses? We have a custom approach to incentive requests. Historically, we have
approved tax rebates and cash grants for large employers that prove a return on investment for the tax payers. For companies that also have an inventory tax, we approved the Freeport Exemption years ago, allowing a large reduction on business personal property tax.
How is the health of the commercial real estate sector in Farmers Branch post COVID-19? The Class A office sector has strong occupancy rates per Costar. Our tollway corridor has seen reinvest ment in amenity space and almost full occupancy such as International Plaza I,II and III. The industrial sector main tains over 90% occupancy and projections show fie-year occupancy rates stabilizing. For our flx spaces primarily on the east side of town, we have seen retrofit f older industrial buildings for new creative uses.
Fort Worth Economic Development
Contact: Robert Sturns
Population: 958,692
County: Tarrant
Major Businesses: Alcon
American Airlines Ben E. Keith BNSF
Bell Flight Eosera
Linear Labs
Lockheed Martin SmartAction TimelyMD
How does Fort Worth differentiate itself from others in the region?
Despite being one of the fast est-growing large cities in the country, Fort Worth still prides itself on being a community where relationships are a pri ority and collaboration is the key to success. Its strengths lie in its diversity—not only of people and neighborhoods, but of its overall economy. Its key industries work together to support each other, driving further growth, success, and innovation.
Which industries are demonstrating the most interest in your area today?
Fort Worth continues to see a lot of interest from businesses in the city’s established indus tries, including aerospace/ defense and advanced manu facturing. Companies, like MP Materials and Linear Labs, are leading the charge in technol ogy-driven “Energy 2.0” appli cations. There are also exciting opportunities developing in
several of Fort Worth’s newer emerging industries, like mo bility innovation, biotech, and life sciences.
What type of opportunities exist for businesses looking to relocate or expand into Fort Worth?
Fort Worth’s Mobility Inno vation Zone (MIZ) in the AllianceTexas corridor has been the staging ground for innovations in last-mile delivery through TuSimple’s autonomous trucking and Wing’s drone delivery service.
The city’s growing Medical District offers opportunities for collaboration and will serve as the site of TCU’s new Burnett School of Medicine. Downtown Fort Worth is also evolving to incorporate Texas A&M Law School’s expanding footprint and other development oppor tunities coming online in the Panther Island area.
What financial tax incentives, or other programs have been created to help Fort Worth attract businesses?
Fort Worth has several tools to attract businesses, including Chapter 380 grants and tax abatements, opportunity zones, foreign trade zones, property assessment clean energy financing neighborhood empowerment zones, and en terprise zones. Fort Worth also utilizes tax increment finane districts and public improve ment districts, and offers local tax credits for ongoing research and development projects that take place within the city. Fort Worth has also established an economic development fund to close the competitive gap with nearby 4A and 4B communities.
In fact, Fort Worth’s economic development incentives have leveraged a total of $5.5 billion in private investment, resulting in almost 22,000 jobs.
Wing’s drone delivery system, tested at the Mobility Innovation Zone Downtown Fort Worth STATE
Valoris Healthpark Garland valorishealthpark.com
ECD Contact: Ayako Schuster 972.205.3800 aschuster@garlandtx.gov
Population: 242,035
County: Dallas
Located in the heart of Garland, Texas, Valoris Healthpark Garland is a stateof-the-art Medical District on the way to becoming a premier medical destination in North Texas. Located next to the Garland VA Medical Center, Valoris Healthpark offers completely renovated medical spaces for all types of medical practitioners.
What does Valoris mean? Based on community input, the City of Garland and its development partners at Pre varian Companies and Harri son Street named Garland’s TIF No. 3 Valoris HealthPark Garland. The name Valo ris—adapted from the word “valor”—pays homage to the courageous individuals who bravely served our country in the armed forces. Likewise, it nods to our cultural diversity by translating to ‘courage, bravery, and value’ in Spanish.
What kind of opportunities exist for medical providers
looking to expand or relocate to Garland?
Valoris Healthpark Garland comprises more than 140,000 square feet of leasable space and boasts one of, if not the, most competitive tenant incentive programs in Dallas-Fort Worth. While each project and every tenant has unique needs, the City of Gar land and Valoris Healthpark Garland leasing partner JLL are positioned to collabora tively help medical providers attain their goals. More than that, relocating ensures a pro vider has continued support and resources after a deal is made.
What type of investment is the City of Garland making into the medical district?
The City of Garland has engaged urban design fir Studio Outside to reimage the public streetscapes, wayfinding and walkability in and around Valoris Healthpark. Working in closely with the VA, DART, Garland Power & Light, and the surrounding neigh
borhoods, city staff is makin a considerable infrastructure investment to improve the quality of life for citizens of Garland and to make the HealthPark a favorable busi ness environment.
Who will Valoris Healthpark Garland serve?
As the sixth-largest city in Dallas-Fort Worth, one of the fastest-growing regions in the country, Garland is home to more than 240,000 residents, and Dallas-Fort Worth is home to over 7.5 million people.
Currently, within just fie miles of Valoris Healthpark, there is an urban population of nearly 375,000. Likewise, the VA is projected to serve more than 184,000–nearly half–of the veterans living in North Texas.
Dr. Marina Vengalil, MD
Hashim Majeed, MD Jamie Callahan, PA
Anthony Nguyen,
HARDWORKING. RESILIENT. EMPATHETIC. Our providers have a passion for putting patients first, making Valoris HealthPark Garland the heart of health care in a community that cares.
Mansfield Economic Development Corporation Mansfield-Texas.com
ECD Contact: Jason Moore 817.728.3651
jason.moore@mansfield-texas.com
Population: 75,000
Counties: Tarrant, Johnson, and Ellis
Major Businesses: Mouser Electronics
Hoffman Cabinets Sellmark
Has the Dallas-Fort Worth region’s market growth impacted development and offerings in Mansfield ver the past three years?
We have such a strong health care industry in Dallas-Fort Worth, and Mansfield benfis greatly from this. Our largest growth sector for commercial development has been in the healthcare industry, thanks to our hospital systems— Methodist Mansfield Texas Health Mansfield and Baylor Emergency Hospital. We are attracting specialists throughout Dallas-Fort Worth and beyond to be near this growth. It is impressive to see the velocity and pipeline of future development coming to Mansfield
What does your EDC evaluate when looking to attract a new business? Our EDC is looking to attract businesses that will enhance our economic vitality. We want to attract companies that seek innovation and
unique opportunities to differ entiate themselves and who are looking to partner with community leaders.
What are some predictions for Dallas-Fort Worth’s economic outlook that may change during the next three years? We believe housing starts will slow steadily but to normal levels, which will feel worse than it is because the last several years have been so far above average. Job creation and unemployment levels will continue their respective positive trends. We believe our region will experience more business expansions than company relocations from out of state. We all need to do our part to retain these businesses that have moved here and to help them grow. Because of these concerted regional efforts, Texas will remain No. 1 in economic development in the country and, more specifially, Dallas-Fort Worth will lead the state’s major metros in business expansion, job creation, and housing starts.
Methodist Mansfield Medical Center Texas Mansfield Julian at Southpoint
EDC Contact: Larry Holt 817.410.3105
How does Grapevine differentiate itself from others in the region?
Grapevine is all about access. A convergence of highways, rail service to Dallas and Fort Worth, and one of the nation’s busiest airports put this city at the center of everything from entertainment to the global supply chain.
Which industries are demonstrating the most interest in your area today?
Destination attractions, con sumer brands, and corporate relocations choose Grapevine for its business-friendly culture and center-stage location.
What financial tax incentives, or other programs have been created to help Grapevine attract businesses?
Grapevine Economic Develop ment offers 4B grant funding, impact/inspection fee exemp tions, tax-increment financing tax deferrals, and local sales tax refunds in order to attract thriv ing businesses and startups for our mutual success.
What are some of your predic tions for how the Dallas-Fort Worth region’s economic
outlook may change over the next three years?
Dallas-Fort Worth continues to expand its world-class workforce and employer base, making in frastructure critically important in the years ahead. Ongoing improvements to our roads and expansions of public transpor tation, such as the DART Silver Line, will keep talented Texans close to prolific ompanies, so that communities like ours can offer 1.7 million people a commute time of 23 minutes or less by 2026.
Grapevine Main Street StationSachse Economic Development Corporation SachseEDC.org
EDC Contact: Jerod Potts 469.429.4764
EDC@CityofSachse.com
Population: 29,030 Counties: Collin and Dallas
How does Sachse differentiate itself from others in the region?
The City of Sachse is as unique as our name. Our proximity to major thoroughfares gives us dynamic access to airports, post-secondary educational centers, and key economic clusters. With a primary trade area of more than 330,000 people and unmet demand for office, commercial, and light-industrial, the time is now to sak [see] yourself here.
What financial tax incentives, or other programs have been created to help Sachse attract businesses?
Sachse boasts a streamlined entitlement and permitting process. The Sachse develop ment team is agile—going to exceptional lengths to ensure developers, site selectors, residents, and contractors have the answers they need. City Council established the vision years ago by adopting a robust, market-based com prehensive plan. This desired direction for the built and natural environment provides adjacency predictability.
There are numerous tools in our economic development toolbelt, such as property and sales tax abatements, grants, fee waivers, and more.
What does Sachse evaluate when looking to attract a new business?
Sachse thinks futuristically about the ever-changing economic development landscape, striving to ensure local economy resilience.
STATE
The Station is a mixed-use development in Sachse located along the PGBT between Miles and Merritt Roads.
Saginaw, Texas SaginawTx.org SaginawEcoDev.org
EDC Contact: Keith C. Rinehart 817.230.0331 krinehart@saginawtx.org
Population:
24,150
Major Businesses:
Wholly Guacamole, Trinity Rail, CTI Foods, Miller Milling, Troxell Trailer Mfg., Gavilon Grain, Ardent Mills, Ventura Foods, Bana Box
How does Saginaw differentiate itself from others in the region?
Saginaw, Texas is a thriving, diverse, and emerging community of just under 25,000 residents located in northwestern Tarrant County, one of the fastest-growing locations in the United States.
Saginaw’s strategic location, low tax rate of $.508042, excellent school system, and quality of life continue to garner national recognition and highlight the community as a premier business destination.
How has Saginaw sustained interest as an attractive option
for companies seeking new al ternatives and locations, given recent economic challenges?
The City of Saginaw ranks high in lower taxes, an educated workforce, affordable and diverse housing choices, a convenient location within Dal las-Fort Worth, an outstanding school system, and a unique quality of life that encompass es both exciting amenities for shopping, dining, and entertainment.
What financial ax incentives or other programs have been created to help Saginaw attract businesses?
Saginaw has a variety of incen tive programs, including Tax Increment Financing Districts (TIF), property tax abatements, Public Improvement Districts (PIDs), fee waivers, Chapter 380 Economic Development Agreements, Tax Increment Reinvestment Zones (TIRZ), and sales tax rebate/sharing.
Sunnyvale Economic Development Corporation SunnyvaleEDC.org
EDC Contact: Burton K. Barr 972.203.4154 burton.barr@townofsunnyvale.org
Population:
How has Sunnyvale’s EDC sus tained interest as an attractive option for companies seeking new alternatives and locations, given the challenges of the economy and daily work life?
Sunnyvale’s proximity to downtown Dallas and U.S. 80 makes it a desirable choice for entertainment, hospitality, corporate headquarters, destination retail, grocery stores, and industrial development.
County:
Major Businesses: Daniel Steel Industries, Associated Truss & Lumber, Dal-Tile, Vince Hagan Company
How does Sunnyvale differentiate itself from others in the region?
The Town of Sunnyvale is a quiet and family-oriented community a short 15-minute
drive from downtown Dallas. Sunnyvale ISD is consistently rated as one of the top school districts in Texas. Sunnyvale residents enjoy the benefis of small-town living combined with access to the thriving business, cultural, and social districts of Dallas-Fort Worth.
Which industries are demonstrating the most interest in your area today? Retail, entertainment, sports tourism, and industrial.
What does your EDC evaluate when looking to attract a new business?
Capital investment, sales tax generation, job creation, and targeted industry align ment with Sunnyvale’s strategic plan.
How has Dallas-Fort Worth’s market growth impacted com mercial development?
We are seeing tremendous growth as developers look to move east of downtown Dallas.
City of Wilmer/ Dallas County Inland Port
EDC Contact: Rona Stringfellow 972.441.6373
rstringfellow@cityofwilmer.net
Population: 6,690 County: Dallas
Major Businesses: Ace, Makita, Proctor and Gamble, Whirlpool, Unilever, Yokohama, Smuckers, Amazon, Sprouts, CarMaxx, TriColor, Stream Data Center
How has Wilmer sustained interest as an attractive option for companies seeking new alternatives and locations, given the challenges of the past few years on the economy and daily work life?
The City of Wilmer is one of the last cities in southern Dallas County with available land area. Wilmer is currently 11.5 square miles with the ability to grow up to 22 square miles. Wilmer is affordable, with a staff that undestands the speed of business. Although there is a large amount of development, the staff is till able to get reviews done in a timely fashion.
How does Wilmer differentiate itself from others in the region? Location to the major inter states with proximity to an Intermodal facility. Available talent and labor with multiple transportation networks. It is still relatively rural but within 15 minutes of down town Dallas.
they weren’t looking for a few years ago?
6,690 • Available
Connectivity of fiber as ell as redundancy; ability to work with a knowledgeable staff; electric reliability; water and sewer availability; rural proximity as well as proximity to the arts and culture of Dallas, Fort Worth, and Arlington; a willingness to explore creative financing opportunitis, and the ability to adjust to changes in the development climate.
Nestled within four major highways, the City of Wilmer is an ideal location for related industries. The City envisions attracting advanced manufacturing health technology to compliment current health sector companies. open for business! Come grow with us!
Only 15 minutes from Dallas
What are businesses looking for in a site location today that
www.wilmeredc.net
Nestled within four major highways, the City of Wilmer is an ideal location for transpor˜ation related industries. The City envisions attracting advanced manufacturing and health technology to compliment current health sector companies. Our doors are open for business! Just landed a deal with Crate and Barrel and Nike. Come grow with us!
Rona Stringfellow, ICMA-CM Economic Development Director 972-441-6373 (office)
Vistra is proud to congratulate Sano Blocker on her well-deserved recognition at this year’s D CEO Energy Awards for her contributions to the company and our industry.
SANO BLOCKER
ost north texans have spent more time than they may like on Stemmons Freeway, a section of Interstate 35-E that runs north of downtown Dallas. But newcomers to the region may not know for whom the roadway is named. For generations, the Stemmons family had a dramatic impact on Dallas’ development. The land for the highway was donated by one of the city’s foremost leaders, John Stemmons. But the highway is named for his father, Leslie, who was born in Dallas and studied law at the University of Chicago. After school, he and Scott Miller formed a real estate and insurance business. In 1908, the two developed the Stemmons family farm in Oak Cliff, which included East Kessler Park, Winnetka Heights, and areas around Sunset High School. After a record floo that same year, Stemmons served as chairman of a levee improvement district, which planned to move the river channel one mile west and build a series of levees. In 1928, Dallas gave landowners in the corridor a charter to develop the former river bottoms property. Among them was Stemmons, who, with his sons, helped create the industrial district on the north side of downtown—now the Dallas Design District. In addition to Stemmons Freeway, Leslie Street and a DISD elementary school bear his name. The Stemmons Service Award, considered the highest honor in DFW commercial real estate circles, recognizes the impact the Stemmons family has had on the region.
ON THE LEVEE Leslie Stemmons and his sons helped pioneer what’s now known as the Dallas Design District.
LESLIE
TEXAS BASED. GLOBAL REACH.
Celebrating the shared progress of the Texas energy industry
Willie Hornberger NYU Tax LL.M.
Byron Egan UT Law
Garrett Lessman BU Tax LL.M.
Brady Cox NYU Tax LL.M.
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