Watching Texas pitching legend Nolan Ryan talking shop with Texas Rangers owner Tom Hicks (recently profiled in CL’s brother mag Dealmaker) at the beautiful ballpark in Arlington symbolizes the Metroplex magic of the moment.

Call it “Success in the City”—the Dallas-Ft. Worth area has the fastest-growing millionaire population in the U.S. A recent Merrill Lynch wealth report counts 69,710 million-plus households—with another 43,638 projected in the next five years.

The wealthy are in a giving mood. Due to open in 2009, the $338 million Dallas Center for the Performing Arts—slated to be the world’s largest continuous urban arts complex—was 99% funded by citizen donors. Set to rival Lincoln Center, the development enriches a cultural product already distinguished by the world-class Dallas Museum of Art and the Nasher Sculpture Center.

Art? Dallas? That’s right—and it’s time to put all the stereotypes aside. Says Dallas CVB CEO Philip Jones, “we have a history of reinventing ourselves to be relevant.” Jones credits Dallas mayor Tom Leppert—formerly chairman and CEO of the $7 billion Turner Corporation--with much of the moving and shaking. “Mayor Leppert is making this happen,” he says. “He understands how to position for growth in the global economy.”

BlackBerry manufacturer RIM is establishing its North American HQ here; a major Chinese tech outfit is coming; the convention center is getting a 1,200-room hotel; and oh yes, the city has seen a staggering $14 billion in investments over just the past three years.

The area led the nation in population growth last year—162,000 people moved in—and then there’s the inland intermodal port being developed south of Dallas, part of a bold “T-Bone” transportation plan which will put the area square on the global trade and logistics map.

The T-Bone’s cooking—much more to follow.

Jeff Heilman

5/19/08