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Northeast Times | August 8, 2022

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AllianceTexas generates $7 billion in 2019

AllianceTexas generates $7 billion in 2019

AllianceTexas, the 26,000-acre master-planned, mixed-use community in north Fort Worth, continues to be one of the region’s economic engines, with approximately $83.74 billion generated in economic impact and nearly $2.53 billion in total taxes paid to local public entities over the life of the development.

According to the annual Insight Research Corporation report, the development generated more than $7.31 billion in economic impact in 2019.

AllianceTexas is home to 525 companies, which have built more than 50 million square feet.

Total investment at AllianceTexas surpassed $10.5 billion in 2019, with $9.7 billion coming from the private sector. Public investment totaling more than $782 million has been invested in the project to date, representing a 12-to-1 private-to-public-dollar investment multiple.

“AllianceTexas’ success can be attributed to the continued collaborative relationship between public and private sectors, with a shared vision and goal for community and growth,” said Mike Berry, president of Hillwood. “AllianceTexas has experienced incomparable success over the last year and continues to lead the region in attracting high-paying jobs in the technology, aviation and logistics, manufacturing and financial services sectors.”

Double the size of Manhattan and geographically encompassing six municipalities, four independent school districts and two counties, AllianceTexas has increased tax revenue for the public entities within the project.

Since 1990, more than $2.52 billion has been paid in property taxes cumulatively to the cities of Fort Worth, Haslet, Northlake, Roanoke and Westlake; Tarrant and Denton Counties; and Northwest, Keller and Argyle Independent School Districts.

In 2019 alone, the project contributed nearly $242.8 million in property taxes to these local entities.

In 2019, Hillwood announced several new projects that will further enhance regional impact for decades to come. Growth in the region is bolstered by major projects such as relocation of Charles Schwab’s corporate headquarters, development of the AllianceTexas Mobility Innovation Zone, Callaway Golf Co.’s national distribution center, Stanley Black & Decker’s national distribution center and manufacturing center, Schluter Systems’ regional distribution center and Stack Infrastructure’s data center.