Texas ranks as 5th best state for women entrepreneurs in new survey

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Texas is among the best states for women-led startups in 2023, a new report says.

The Lone Star State landed at No. 5 in Merchant Maverick’s annual ranking of the top 10 states for female business owners, thanks in part to its robust venture capital environment for entrepreneurs.

Texas actually dropped three spots from last year's ranking of No. 2, but climbed up from its No. 6 showing in 2021.

Merchant Maverick, a product comparison site for small businesses, says Texas “boasts the strongest venture capital scene” for women entrepreneurs outside California and the Northeast. The state ranked fourth in that category, with $6.5 billion invested in the past five years.

Other factors favoring Texas include:

Women solely lead 22 percent of all employees working for a business in Texas (No. 4).
Texas lacks a state income tax (tied for No. 1).

However, Texas didn’t fare well in terms of the unemployment rate (No. 36) and the rate of business ownership by women (No. 29). Other Texas data includes:

Average income for women business owners, $52,059 (No. 19).
Early startup survival rate, 81.9 percent (No. 18).

Appearing ahead of Texas in the 2023 ranking are No. 1 Colorado, No. 2 Washington, No. 3 California, and No. 4 Arizona.

Another recent ranking, this one from NorthOne, an online bank catering to small businesses, puts Texas at No. 7 among the 10 best states for women entrepreneurs.

NorthOne says Texas provides “a ton of opportunities” for woman entrepreneurs. For instance, it notches one of the highest numbers of women-owned businesses in the country at 1.4 million, 2.1 percent of which have at least 500 employees.

In this study, Texas is preceded by Colorado at No. 1, Nevada at No. 2, Virginia at No. 3, Maryland at No. 4, Florida at No. 5, and New Mexico at No. 6. The rankings are based on eight metrics, including the percentage of woman-owned businesses and the percentage of women-owned businesses with at least 500 employees.

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This story originally appeared on our sister site InnovationMap.

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Dallas-Fort Worth booms as Texas' biggest market for $10 million homes sold in 2022

MOVE OVER, MCMANSION

As a market for homes for the ultra-rich, Dallas-Fort Worth is strong and growing, according to a new report.

The $10M+ National Luxury Report for 2022 from real estate brokerage Compass cites 11 local sales of over $10 million homes in 2022; the previous year, there had been 10 such big sales.

The report is for all sales in the area and based on MLS data.

Affluent areas in Dallas-Fort Worth have landed in several wealth reports lately, from the richest cities in Texas to the wealthiest cities in America.

In the Compass report, DFW holds the top spot in Texas for the $10 million-plus category of home sales, with $145.79 million in sales volume. Austin posted five sales worth a total of $55.95 million, and in Houston, just one home in this category sold last year.

So, how much did those uber-expensive homes go for? In Dallas-Fort Worth, the top listing-represented Compass Regional Sale was $20 million and the highest buyer-represented sale was $14.65 million. The average price of a sale in this category was $13.25 million in Dallas-Fort Worth and $11.19 million in Austin.

For a nationwide comparison, the top selling price was $56 million in Manhattan, $44.5 million in Greater Los Angeles, and $48.5 million in Palm Beach County, Florida.

Dallas-Fort Worth, Houston and Austin were the only areas included from Texas, and DFW easily bests its neighbors down south.

Two current high-profile listings over $10 million include a$20 million estate in Southlake that has gone viral on social media; and a magnificent White Rock Lake mansion next to Dallas' famed "Mount Vernon," on the market for nearly $12 million.

"Despite the weakening global economy, we expect the [Dallas-Fort Worth] luxury market to remain strong in 2023," says a representative of Compass brokers Amy Detwiler & Michelle Wood. "Overall activity will likely normalize after the brisk volume seen during the previous two years, but limited inventory will keep the market in balance."

Is a strong luxury market a good thing for buyers or sellers? Inquiring minds can always consult with the 1 percent for the answer, but it's definitely good news for real estate brokers.

Photo by Austin Distel on Unsplash

Here's the income it takes to live among the top 1 percent in Texas

ISN'T THAT RICH

Wondering how "the other half lives" is so outdated, especially when we we can easily peek into what life is like for the "one percent." A new report from SmartAsset reveals how much money you'll need to be considered the top one percent in Texas.

With Southlake now the richest city in Texas in one study and Frisco named the third wealthiest in America in another report, it's obvious that the North Texas landscape is dotted with pockets of wealth. But how much do you actually need in your pocket to have a top one percent income?

In Texas, an annual income of $641,400 will land you at the top, while $258,400 only gets you to the top five percent.

To come up with those numbers, SmartAsset analyzed 2019 data from IRS tax units and adjusted the figures to 2022 dollars using the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the Bureau of Labor Statistics.

For comparison, "the average American household earns a median income of under $70,000," according to the study. And per the latest figures from the U. S. Census Bureau, the median household income in Texas (in 2021 dollars) is $67,321. That leaves plenty of us with a long way to go in our financial striving.

So now we know how we compare to our neighbors, but where does that put the affluent population of Texas in comparison with other states?

For starters, Texas claimed the 10th highest income required to reach top income levels.

The one percent income threshold is hardest to meet in Connecticut ($955,000), Massachusetts ($900,000), New Jersey ($825,965), New York ($817,796), and California ($805,519). Only these five states have thresholds that exceed $800,00, and it's a pretty steep drop down to Texas ($641,400) in 10th place.

The five states where it's easiest to attain one percent status (even though that doesn't seem like good news) are Kentucky ($447,300), Arkansas ($446,276), New Mexico ($418,970), Mississippi ($383,128), and West Virginia ($374,712).

The SmartAsset report also included average tax rates for top earners in each state. There was surprisingly little variance in the top 10 states, with Washington state having the lowest rate (25.02%) and Connecticut collecting the highest tax rate (27.77%).

Texas was in the middle of the pack with a tax rate of 25.71% levied on top one percent incomes.

The 10 states with the highest earnings required to be a one-percenter and their tax rates are:

Connecticut ($955.3K, Tax rate 27.77%)
Massachusetts ($896.9K, Tax rate 26.4%)
New Jersey ($826K, Tax rate 27.36%)
New York ($817.8K, Tax rate 27.48%)
California ($805.5K, Tax rate 26.78%)
Washington ($736.1K, Tax rate 25.02%)
Colorado ($682.9K, Tax rate 25.24%)
Florida ($678.8K, Tax rate 25.23%)
Illinois ($666.2K, Tax rate 26.23%)
Texas ($641.4K, Tax rate 25.71%)

If you're on your way to being a top earner and want to do a deeper dive on those numbers, you can view the full report on the SmartAsset website.

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Brooks & Dunn boot-scoot into this week's 5 hottest Fort Worth headlines

This week's hot headlines

Editor's note: A lot happened this week, so here's your chance to get caught up. Read on for the week's most popular headlines. Looking for the best things to do this weekend? Find that list here.

1. Brooks & Dunn kick up 'Reboot Tour' with 2023 stop in Fort Worth. Brooks & Dunn, the best-selling duo of all time, are continuing their "Reboot Tour" in 2023, including a stop at Dickies Arena on Saturday, May 6. Fort Worth is the only Texas city on their list, and tickets went on sale Friday, January 27.

2. Much anticipated Italian restaurant from top Fort Worth team has a date. A new restaurant from one of Fort Worth's top food & beverage teams has an opening date: 61 Osteria, the much-anticipated restaurant from restaurateur Adam Jones and acclaimed chef Blaine Staniford, will open in downtown Fort Worth on January 31. Ta-da.

3. Wealthy Fort Worth neighbor cashes in as the richest city in Texas for 2023. North Texans wanting a glimpse into the lives of the 1 percent won't have to travel far to get a peek. Southlake has been named the richest city in Texas for 2023 in a recent study.

4. Quite the bounty of bites in this roundup of Fort Worth restaurant news. This roundup of restaurant news around Fort Worth includes restaurants newly opened, restaurants coming soon, new menus, new tacos, new pizzas, and more. So much more. Here's the latest batch of Fort Worth restaurant news.

5. The best Fort Worth restaurants to celebrate Valentine's Day 2023. For restaurants, Valentine’s Day is the Super Bowl of dining events, which is ironic this year since the actual Super Bowl takes place just two days prior, on February 12. This is not stopping some restaurateurs from hosting special Valentine’s dinners all weekend long, although some are cautiously opting out of Sunday and Monday. Here are the best options around town.

Photo courtesy of Main St. Fort Worth Arts Festival

Fort Worth ranks 10th least expensive U.S. city to raise a family, says report

Family-friendly Fort Worth

It can be costly to raise a family, especially these days, but parents living in Fort Worth can welcome some good news: the city ranks as one of the least expensive American cities to raise a family.

A recent report from Harmony Healthcare IT, a data management firm that works with health data, deemed Fort Worth the 10th most economical city in the U.S. to raise a family. Also making the top 10 are DFW neighbors Plano (No. 3), Irving (No. 4), and Garland (No. 6).

No other Texas cities made it onto the list of most or least expensive.

The cheapest city to raise a family is Gilbert, Arizona, and the most expensive is San Diego, California, according to the report.

To determine the most and least family-friendly cities, Harmony Healthcare IT evaluated the 100 most populous cities in the U.S. They compared a variety of data including the cost of living, education, childcare, crime, healthcare and housing.

No. 10-ranked Fort Worth is known for warm greetings and hospitality, inviting neighborhoods, and a vibrant and rich culture. While offering a “small-town feel,” the city offers “big-city perks,” touts the Fort Worth Chamber of Commerce. Residents know some of those perks include a top-ranked zoo, botanical garden, science museum, and more. Annual family-friendly events include the Fort Worth Stock Show & Rodeo, Main St. Fort Worth Arts Festival, and Mayfest.

Similarly, the Irving-Las Colinas Chamber of Commerce describes Irving, the No. 4 least expensive city to raise a family, as a “great place to live, work, play and raise a family.” It boasts a wide variety of housing, from contemporary affordability to high-end luxury. The chamber also notes the city’s 190 acres of parks and greenbelts, 17 miles of canal waterways, 10 miles of riverside hiking and biking trails and four libraries.

Garland, ranked No. 6, has the 10th largest school district in Texas and remains dedicated to quality teaching and interaction for every individual student, according to the Garland Chamber of Commerce. One of Garland ISD’s most popular advantages is that parents are able to choose the campus they wish to have their child attend.

So, what helped Plano score the top ranking in Texas?

The Plano Chamber of Commerce touts Plano as “the best city to live in Texas,” thanks to an exceptional academic environment, diverse population, residential neighborhoods, and outstanding city amenities, according to the chamber website. Its diverse population “comes together to create a connected community with a distinctive friendly nature and independent spirit,” the chamber website states.

The Plano ISD plays a vital role in Plano’s economic success and lures both families and companies to the city, according to the Plano Chamber of Commerce. With enrollment of 52,629 students, PISD boasts one of the highest performances on college entrance exams in the nation.

To view Harmony Healthcare IT’s full report, click here.

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Texas ranks No. 3 best state to start a business in U.S., report says

Calling all entrepreneurs

For years, Texas has been lauded for its business climate being welcoming to new businesses and startups. A new study shows that the Lone Star State has yet again made the list.

Texas ranked third in personal finance website WalletHub's recent report, 2023's Best & Worst States to Start a Business, with a score of 56.85 points. Texas ranked behind Utah, No. 1, and Florida, No. 2, and just ahead of Colorado. Idaho, Georgia, Arizona, Nevada, Oklahoma, and California make up the rest of the top 10, respectively.

The study looked at 27 key indicators of startup success across all 50 states. Texas was recognized for these factors in particular:

No. 10 – average growth in number of small businesses
No. 30 – labor costs
No. 10 – availability of human capital
No. 4 – average length of work week (in hours)
No. 14 – cost of living
No. 13 – industry variety
No. 31 – percentage of residents who are fully vaccinated against COVID-19

Source: WalletHub

Richard Ryffel, professor of finance practice at Washington University in St. Louis, noted the importance of policy in making a state a good place to start a business.

"Established businesses looking to expand might expand or relocate entirely based on the relative favorability of the local business climate," Ryffel says. "Recently, Texas, for example, has been the beneficiary of some significant business relocations based on its business-friendly policies."

The methodology of the study focused on three key dimensions — business environment, access to resources, and business costs — and 27 relevant metrics. Each metric was graded on a 100-point scale, and then each state’s average across all metrics was used to calculate its overall score.

In 2022, WalletHub named Farmers Branch one of the best small cities in Texas for starting a business. It appeared at No. 102 on the list overall, and No. 2 in Texas. Other DFW cities in the survey included Haltom City (No. 406), The Colony (No. 436), Grapevine (No. 457), and Flower Mound (No. 733).

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This article originally appeared on our sister site InnovationMap.

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'Yellowstone' stars to greet fans at Fort Worth Stock Show & Rodeo

Yellowstone news

Yellowstone fans, get your comfy shoes ready - there'll be a long line for this one. Cole Hauser a.k.a. "Rip Wheeler" on Yellowstone, and Taylor Sheridan, the show's co-creator, executive producer, and director of the series, will meet fans and sign autographs at the Fort Worth Stock Show & Rodeo.

The event will take place from 4:30-6:30 pm only on Friday, February 3. Location is the 6666 Ranch booth near the south end of Aisle 700 in the Amon G. Carter, Jr. Exhibits Hall.

According to a February 2 announcement from FWSSR, "fans will have the opportunity to snag an autograph as well as purchase some distinctive Yellowstone and 6666 Ranch merchandise while also enjoying all the features the Stock Show offers."

The event is free to attend (with paid Stock Show admission) and open to the public.

It's the second year in a row for Hauser to appear at FWSSR; in 2022, he and fellow cast mates drew huge crowds.

Sheridan, a Paschal High School graduate, is no stranger to Fort Worth; he lives in a ranch near Weatherford and filmed 1883, the prequel to Yellowstone, in and around Fort Worth. Currently, another spinoff, 1883: The Bass Reeves Story, is filming in North Texas.

The Fort Worth Stock Show & Rodeo is winding up its 2023 run on Saturday, February 4.

Coffee chain 7 Brew to open new drive-thru in north Fort Worth

Coffee News

A drive-thru coffee chain is opening a shop in Fort Worth: 7 Brew, a chain founded in Arkansas in 2016, is opening its first location in Fort Worth at 5001 N. Tarrant Pkwy., where it will serve coffee and espresso drinks, teas, infused energy drinks, sodas, and smoothies.

This will be the chain’s third location in Dallas-Fort Worth, following their 2022 debut in Grand Prairie and second outlet in Mansfield.

This location is from husband-and-wife Jonathan and Hannah Schalk, who moved from Arkansas in order to expand the brand in Fort Worth.

"Northwest Arkansas is knit together and comprised of very small communities, and the same thing happens in Fort Worth," Jonathan says.

They're targeting early April for their opening date.

7 Brew is one of a host of chains that have sprung up in recent years focused on drive-thru: Scooter's, Bad Ass Coffee, PJ's, Dutch Bros., Black Rock, Black Rifle, not to mention non-coffee beverage chains like Swig. They all share one thing in common: Their business model relies on the use of disposable plastic containers.

7 Brew sets itself apart by emphasizing how friendly it is, thanks to its modular, prefabricated buildings that come with multiple drive-thru lanes protected by canopies. This allows employees to dash out and deliver the orders to customers in their cars.

Most locations have two drive-thru lanes, but this location will have three, plus one walk-up window for the rare customer not inside a vehicle.

They do standard coffee drinks but are better known for ultra-sweet dessert-inspired beverages such as the Blondie with caramel and vanilla, and a drink called the Cinnamon Roll with white chocolate and brown sugar cinnamon.

Outside of coffee, they also do an in-house energy drink in varied flavors and flavored sparkling water.

The company was acquired in 2021 by Drink House Holdings, a company created by Jamie Coulter, founder of Lone Star Steak House and a Pizza Hut franchisee; and sandwich chain founder Jimmy John Liautaud.

Where to eat: Best Fort Worth restaurants for Easter 2023 dining

Holiday News

Brunch has become a big trend, but it has always been a thing on Easter Sunday, when it's a tradition to hit up a brunch as a reward for attending Mass. It's such a thing that some restaurants in Fort Worth that are usually closed on Sundays open for special hours on this one holy day.

Here's than where to get brunch (and dinner) on Easter Sunday in Fort Worth:

Blue Mesa Grill. Brunch award-winner will add extra items for Easter including ginger chipotle glazed ham, on top of signatures like street tacos, omelets, Belgian waffles, churros, biscuits & gravy, blue corn cheese enchiladas, potato chile tarts, Chimayo corn, Adobe Pie, and dessert bar with chocolate-dipped strawberries, banana pudding, fruit cobbler, raspberry-cajeta bread pudding, cookies, and bars. $35, includes Mimosas, or $10 for 11 and under. 8 am-4 pm. 817-332-6372.

Bonnell's. Chef Jon Bonnell has a dozen to-go options for Easter, including rack of lamb, beef tenderloin, prime rib, turkey breast, and sides for 4 or 8 people, plus cake, cheesecake, and pies. $35 to $300. Order online by March 31 at 12 noon for pickup on April 8 from 11 am-6 pm. 817-738-5489.

Capital Grille. Opening early with full dinner menu, as well as four special brunch features: lobster frittata with asparagus, NY strip steak & eggs, filet mignon with white cheddar hash browns, and smoked salmon and caviar. 10 am-2 pm. 817-348-9200.

Eddie V's. 3-course brunch includes cinnamon rolls with cream cheese frosting, choice of salad, lobster bisque, smoked salmon, steak & eggs with red-eye gravy, lobster quiche Florentine with Fuji apple salad, avocado and crab on brioche toast, seasonal berries, or bananas Foster cake. Kids menu includes fruit, scrambled eggs, chicken fingers, Mac & cheese, sorbet, or ice cream. Full menu also available. $52, or $16 for 12 and under. 10 am-2 pm. 817-336-8000.

Fort Brewery and Pizza. Regular brunch menu with signatures like their "Panther Bones" extra-large extra-garlicky breadsticks, avocado toast, biscuits & gravy, the hangover burger, pizzas, cinnamon roll, waffle on a stick, do we need to go on. 10 am-10 pm. 817-923-8000.

Fuzzy's Taco Shop. Easter to-go for parties of 10 or more with Build Your Own Taco bar ($120), Fajita bar ($140), and Nacho bar ($100). Order online by April 7.

Hotel Vin Autograph Collection. Brunch in the Bordeaux and Tuscany ballrooms with chef Juan Pablo Silva's bountiful menu includes flambee crepe and Belgian waffle station, seafood station, raw bar, prime rib carving station, omelet station, and kids buffet. Reservations include entry into an Easter egg hunt plus Easter bunny photo op. 11 am-3 pm. $90, or $45 for 12 and under. 817-796-9696.

Malai Kitchen. Brunch includes banh mi French toast, Thai eggs benedict, fried rice “over easy”, spicy bloody Marys, and mimosas. Price varies. 11 am-3 pm. Southlake 682-707-3959.

97 West. Brunch at Hotel Drover includes taco board, giant cinnamon roll, apple churro pancakes, avocado & toast, hot chicken & biscuits, chicken Caesar, egg white frittata, Stockyards hash, crab cake benedict, chicken-fried steak & eggs. 8 am-2 pm. 682-255-6497.

Omni Fort Worth. Brunch includes charcuterie, deviled eggs, ceviche, cheese & herb soft scrambled eggs, Belgian waffles, spice-rubbed chicken, bourbon-honey smoked brisket, honey-baked ham, cakes, tarts, cookies, cupcakes, rocky road bread pudding, dark chocolate pot de creme, green matcha tiramisu, profiteroles, and an Easter Boulangerie with poblano corn loaf, beer bread, Parmesan lavash, hot cross buns, lemon meringue muffins, bagels, pumpernickel, focaccia, and cinnamon-raisin toast. Plus egg hunt and Easter bunny. $76 or $40 for 12 and under. 11 am-3 pm. Seatings every 45 minutes. 817-535-6664.

Perry's Steakhouse. Holiday specials include choice og glazed ham ($49) or prime rib ($69) accompanied by whipped potatoes and green beans almondine, with choice of starter from salad or carrot-ginger soup. Regular menu is also available. 11 am-9 pm. 214-855-5151.

Pinstripes. Brunch buffet includes waffle station, carving station, sweets table, bottomless mimosas, and Aperol spritzes. The Easter Bunny will hand out treats and take pictures with the kids. $32, or $15 for 12 and under. 10 am-3 pm. Reserve online or call 682-352-0905.

Reata. Brunch with pecan biscuits & elk sausage gravy, fried quail & waffles, hues rancheros, stuffed French toast, chicken chilaquiles, shrimp & grits, crab eggs Benedict, and scrambled eggs with ham or chicken-fried steak. $13-$17.11 am-2 pm. 817-336-1009.

Silver Fox. Full menu plus an Easter special: Roasted Beef Tenderloin Benedict, with poached egg, hollandaise, asparagus, and fingerling potatoes, for $60. Drink specials include a Bloody Mary with Tito’s Handmade Vodka for $18, and a Mimosa for $12. 11 am-4 pm. 817-332-9060.

61 Osteria. Brunch includes scrambled egg bruschetta, granola, semolina Dutch baby, and mozzarella in carrozza. Prices a la carte. 10 am-2 pm. 817-953-3271.

SusieCakes. SusieChick luscious lemon cake, Easter cupcakes (with carrots, bunnies, and Happy Easter decorations), Peeps sugar cookies, cookie decorating kits, and cakes with bunny and cross decorations. 817-813-2253.

Taste Project. Special pay-what-you-can brunch prepared by chef Jeff and team of volunteers. 9 am-2 pm. Reservations required, online only. 817-759-9045.

Toro Toro. Signature brunch at Worthington Renaissance Hotel with unlimited shrimp cocktail, grilled corn, arepas, steak & eggs, Belgian waffle, plus bloody Mary bar and a la carte options. $49. 11 am-3 pm. 817-975-9895.

Truluck's. Easter special favorites including miso-glazed sea bass with crab fried rice, tuna, King crab, lobster tail, and a spring fling cocktail with vodka, ramazotti rosato, and cava. 11 am-8 pm. Southlake, 817-912-0500.

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