101 Studios and Texas Stock Exchange detail economic impact at Fort Worth forum

The Tarrant County business community gathered at the Hurst Conference Center on Wednesday for the Northeast Leadership Forum’s Heart of North Texas conference. The event focused on three distinct pillars of the local economy: community banking, television production, and financial markets.

Chris Furlow, president and CEO of the Texas Bankers Association, opened the financial discussion. He noted that Texas holds the nation's largest number of community banks, with more than 300 charters. Furlow described the local banking model as relationship-based, supporting small businesses, families, and civic initiatives. He warned that cryptocurrencies like bitcoin and stablecoins could eventually draw deposits away from these institutions, potentially reducing funds available for local lending.

David Glasser, CEO of 101 Studios, addressed the audience regarding the studio's presence in Fort Worth. Glasser, who originated the Yellowstone series, said he and partner Dan Schreier formed a new company, SGS, with interests in hospitality and real estate. The group recently purchased the Cattleman’s Steak House and the Isis Theater in the Stockyards district. They plan to convert the theater into a 1920s-style supper club and build a hotel at the top of Exchange Street.

Glasser presented specific figures on the studio's five-year economic impact in North Texas. The data showed $659.7 million in production spending, with $294.1 million paid in payroll to Texas residents. The studio also spent $365.2 million with local vendors. Over that period, 101 Studios reported 28,151 production jobs, including 8,650 crew positions and 19,501 cast and extra roles. The production activities generated 251,889 hotel room nights and 822 shooting days within the state.

Jeff Karcher, global managing director of the Texas Stock Exchange, discussed the new platform's role in the financial sector. Karcher described the exchange as a challenge to the dominance of the New York Stock Exchange and Nasdaq. He stated that Texas is home to 57 Fortune 500 companies, a number that exceeds New York's 44. Karcher identified Charles Schwab, Citadel, and BlackRock as initial backers, followed by JPMorgan, Goldman Sachs, and Bank of America.

The exchange began a phased rollout of trading on July 6 and reached full production status on July 31. This month, the platform began trading securities for Energy Transfer, Texas Capital Bancshares, and Origin Bancorp. Karcher reported growing interest from foreign companies considering U.S. operations, noting that many look to Texas first for plant or distribution center locations.

The conference concluded with the announcement that next year’s annual event will take place on October 27. The forum highlighted the interconnected nature of local industries, from banking to entertainment and financial infrastructure.

The event featured interviews and presentations from industry leaders who outlined their current operations and future plans. The speakers addressed topics ranging from artificial intelligence in banking to the casting practices of major television studios.