ALLIANCETEXAS GENERATES $7 BILLION PLUS IN 2019
AllianceTexas, the 26,000-acre master-planned, mixed-use community in north Fort Worth, continues to be one of the region’s most substantial economic engines with approximately $83.74 billion generated in regional economic impact and nearly $2.53 billion in total taxes paid to local public entities.
According to the annual Insight Research Corporation report, more than $7.31 billion of the development’s economic impact was generated in 2019 alone, AllianceTexas said in a news relapse.
AllianceTexas is home to 525 companies, which have built more than 50 million square feet, transforming the North Texas economy and connecting the area to global industry.
Widely considered one of the most successful public-private partnership endeavors in the nation, 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, the news release said.
“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 exponentially 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. Recent acquisitions have added the City of Denton and Denton ISD to AllianceTexas’ boundaries, providing additional economic impact and taxes paid in upcoming years.
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 the relocation of Charles Schwab’s corporate headquarters, the development of the AllianceTexas Mobility Innovation Zone, Callaway Golf Company’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.
– FWBP Staff