101 Studios and Texas Stock Exchange anchor North Texas economic growth

Business owners across Tarrant County gathered at the Hurst Conference Center on Wednesday to discuss the growing economic footprint of local entertainment and finance. The Northeast Leadership Forum’s Heart of North Texas conference brought together executives from Hillwood, 101 Studios, and the Texas Stock Exchange to address community leaders.

David Glasser, CEO of 101 Studios, outlined the financial impact of Taylor Sheridan’s television productions in the region. He cited figures from the past five years showing $659.7 million in production spending, primarily within North Texas. That total includes $294.1 million in payroll for Texas residents and $365.2 million spent with local vendors. The productions generated 28,151 reported jobs, split between 8,650 crew positions and 19,501 cast and extra roles.

Glasser noted that the high demand for production staff has led to a partnership with Tarrant County College. This collaboration aims to place workers in skills and trades professions. He also detailed the casting process for shows like Yellowstone and 1883. Sheridan writes parts specifically for the actors he has in mind, rather than using standard agent referrals. This approach has helped revive the careers of established stars including Harrison Ford and Helen Mirren.

Beyond television, Glasser announced that he, Sheridan, and Dan Schreier formed a new company called SGS. The group purchased Cattleman’s Steak House in the Stockyards and the neighboring Isis Theater. They plan to convert the theater into a 1920s-style supper club. A second Cattleman’s location is currently under construction in Weatherford.

Jeff Karcher, Global Managing Director of the Texas Stock Exchange, discussed the platform’s recent launch. Trading began in phases on July 6 and reached full production on July 31. The exchange now lists securities from Energy Transfer, Texas Capital Bancshares, and Origin Bancorp. Karcher positioned the new venue as a competitive alternative to the New York Stock Exchange and Nasdaq, citing Texas’s pro-business environment.

Karcher highlighted that Texas is home to 57 Fortune 500 companies, compared to New York’s 44. He pointed to major financial firms like Charles Schwab and BlackRock as initial backers of the exchange. He reported that foreign companies considering U.S. operations are increasingly looking to Texas and may align their stock listings with their physical presence in the state.

Chris Furlow, President and CEO of the Texas Bankers Association, addressed the role of community banks in the local economy. He noted that Texas holds the nation’s largest number of community bank charters. Furlow warned that cryptocurrencies could eventually draw deposits away from banks, potentially reducing funds available for local lending. He also advised businesses to ask technology vendors how they use artificial intelligence and to develop plans for shutting down systems if necessary.

Organizers announced that next year’s Heart of North Texas conference will take place on Wednesday, October 27.