Axios Dallas

August 16, 2024
Happy Friday! You hurt where you care.
👹 Today's weather: Hotter than a guilty person in church. High of 103.
🎵 Sounds like: "Monitor"
💊 Situational awareness: The White House has negotiated with drug companies to significantly lower the prices of 10 popular Medicare drugs, including blood thinners and diabetes medication.
Today's newsletter is 945 Google-able words — a 3.5-minute read.
1 big thing: Google adds data centers in Dallas area
Google is investing an additional $1 billion into data centers to support searches and AI as part of its expansion into Texas, the company announced yesterday.
Why it matters: Dallas-Fort Worth is the new Silicon Valley. Major companies like Google, Amazon, Facebook and Verizon have all expanded data centers in the region in the past five years.
- D-FW has nearly 70,000 jobs in information services, including data housing, per a Dallas Regional Chamber of Commerce estimate.
The big picture: Google already has a sprawling campus in Midlothian and has broken ground on a 285,000-square-foot data center in Red Oak, about 20 miles south of Dallas.
- The new spending brings the California-based company's Texas investment to $2.7 billion.
Zoom in: Google established the Dallas cloud region in 2022 after building its first data center on a 375-acre site in Midlothian in 2019. The company has since added 165 acres to the sprawling industrial complex.
- A new 170,600-square-foot data center building is under construction at the Midlothian site, per a Texas Department of Licensing and Regulation filing.
- Google officials did not detail where the additional $1 billion investment is going.
State of play: Texas political leaders cite the state's friendly regulatory environment for drawing data companies to the region.
- A 2013 state law exempts data centers of a certain size from paying state sales tax.
What they're saying: Google joins other companies moving to or expanding in Texas, like Caterpillar, Tesla and Toyota. Sen. Ted Cruz called the state "an oasis for jobs."
- "There's a reason people are coming to Texas and that's because Texas is where the jobs are," Cruz said during an event at the Midlothian Google campus yesterday.
2. 🤠 Welcome to Y'all Street


Dallas-Fort Worth is growing into a major financial hub, rivaling New York City — and catching the attention of the Wall Street Journal.
Why it matters: Texas has steadily been adding finance and insurance jobs since 1990, surpassing the number of employees in the industries in New York, according to Bureau of Labor Statistics data.
- The Texas Stock Exchange is launching in Dallas, and thousands of locals already work for Bank of America, Goldman Sachs, JPMorgan Chase and Wells Fargo.
State of play: Goldman Sachs is building a massive office complex near downtown as part of its expansion plans beyond New York City. The hub is expected to bring 5,000 jobs to Dallas.
- JPMorgan Chase has more employees in Texas than in New York. Nearly 13,000 people work at its campus in Plano, which has doubled its employees since it opened in 2017, per the Wall Street Journal.
- Also expanding in the Dallas area: Wells Fargo, Deloitte and Charles Schwab, which moved its headquarters from California to Westlake five years ago.
By the numbers: In January 1990, there were 324,600 Texans employed in finance and insurance. By June of this year, that number had grown to 658,600.
- Meanwhile, 624,200 New Yorkers were employed in finance in January 1990, compared to 544,900 now — less than in the Lone Star State.
What they're saying: "Wall Street remains the center of the investment universe, but Y'all Street is gaining rapidly," Waco-based economist Ray Perryman told the Journal.
3. 🏀 Mavericks snubbed in NBA opening night
The Mavs were passed over for the marquee matchups that will tip off the 2024-25 NBA season.
Why it matters: The Mavericks made it to the NBA Finals last season — the closest they got to the championship trophy in 13 years.
- That's why the opening day snub is surprising.
State of play: The season begins Oct. 22 with a doubleheader on TNT.
- The NBA champs, the Boston Celtics, will host the New York Knicks. The Los Angeles Lakers will host the Minnesota Timberwolves.
- The Mavericks don't play until Oct. 24, when they host the San Antonio Spurs.
The intrigue: The Lakers lost in the first round of the playoffs, but it's possible LeBron James' massive following made the case for an opener.
- The Knicks didn't even make it to their conference finals. The Mavericks beat the Timberwolves to win the Western Conference Finals.
Yes, but: The Mavs host the Timberwolves on Christmas. In last year's Christmas game, Luka Dončić became the first player in NBA history to tally 50 points, 15 assists, six rebounds, four steals and three blocks in a game.
- They play Houston on Jan. 1.
Be smart: You can add the game schedule to your calendar.
4. 🗞 Burnt ends: Bite-sized news bits
💰 Dallas will start fining people up to $500 if their parked car has expired registration or an invalid license plate. (DMN)
📦 DFW Airport now has the country's first airside customs and border patrol examination station, which will expedite cargo inspections. (WFAA)
⛪ The executive pastor at Cross Timbers Church in Argyle resigned, two weeks after the lead pastor was found to have had inappropriate communications with women at the church. (Star-Telegram)
📚McKinney is hosting its first literary festival this weekend, with events and workshops tomorrow and Sunday at the Roy and Helen Hall Memorial Library. (KERA)
5. 🥒 One cocktail to go: The Bearded Lady
Our latest cocktail adventure takes us to a Fort Worth gastropub with a great patio and refreshing cocktails.
Vibe check: The larger outdoor space is a perfect place to gather friends and drink one of the two dozen beers on draft. Plus, the food — especially the burgers — are delicious.
The intrigue: Texans love pickles, a fact even noted by Southern Living. So, it should be no surprise that the canned cucumber shows up in so many cocktails throughout town.
What to order: Pickle Bearded Marg — a traditional tequila margarita with pickle juice added.
Where: The Bearded Lady, 300 S. Main St. in Fort Worth.
Cost: $12
Six-word review: Tart, tangy concoction for dehydrating days.
📭 Know a drink we should try? Hit reply and tell us.
This newsletter was edited by Bob Gee and copy edited by Chris Speckhard.
Our picks:
🧑🏭 Tasha is wearing shorts to the Bath House Cultural Center this weekend.
🏥 Naheed is reading about Forney's first full-service hospital.
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