101 Studios and Texas Stock Exchange Detail Economic Growth at Fort Worth Forum

Business leaders gathered at the Hurst Conference Center on Wednesday to hear updates on North Texas economic drivers.

Mike Berry, president of Hillwood, presented figures showing 101 Studios generated $659.7 million in production spending over the past five years. The studio paid $294.1 million in wages to Texas residents and spent $365.2 million with local vendors. These projects created 28,151 jobs, including 8,650 crew positions and 19,501 cast and extra roles. The production also accounted for 251,889 hotel room nights and 822 shooting days in the state.

David Glasser, CEO of 101 Studios, discussed the expansion of Taylor Sheridan’s media empire. Glasser noted that Sheridan’s shows, including Yellowstone and Frisco King, have attracted high-profile actors such as Harrison Ford and Helen Mirren. Glasser explained that Sheridan writes roles specifically for chosen performers rather than casting through traditional agents. The studio’s leadership, including Glasser, Sheridan, and Dan Schreier, formed a new company named SGS. This group purchased Cattleman’s Steak House and the Isis Theater in Fort Worth. They plan to convert the theater into a 1920s-style supper club and build a hotel at the top of Exchange Street. A second Cattleman’s location is under construction in Weatherford. The team also partnered with Tarrant County College to prepare students for skilled trades roles in the film industry.

Chris Furlow, president and CEO of the Texas Bankers Association, outlined the role of community banks in the region. Texas holds the nation’s largest number of community bank charters, with more than 300 institutions. Furlow warned that cryptocurrencies like bitcoin and stablecoins may draw deposits away from banks. This shift could reduce the funds available for local lending. He also advised businesses to ask technology vendors how they use artificial intelligence. Companies should develop plans to shut down systems if necessary.

Jeff Karcher, Global Managing Director of the Texas Stock Exchange, detailed the new platform’s market entry. The exchange began a phased rollout on July 6 and reached full production trading on July 31. It began trading securities for Energy Transfer, Texas Capital Bancshares, and Origin Bancorp in November. Karcher identified Charles Schwab, Citadel, and BlackRock as initial backers. JPMorgan, Goldman Sachs, Bank of America, Vanguard, and State Street joined later. The exchange aims to compete with the New York Stock Exchange and Nasdaq. Texas is home to 57 Fortune 500 companies, exceeding New York’s 44. New York’s count dropped from 140 in 1970. Karcher said foreign companies considering U.S. facilities often look to Texas first and may align their stock listings with their operations.

The conference announced that next year’s annual event will take place on Wednesday, October 27.