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Sunday, January 17, 2021

AllianceTexas generates approximately $69 billion economic impact for North Texas

The AllianceTexas development has created nearly 48,800 jobs, with 1,300 of those coming in 2017. That, according to a new report on the North Fort Worth development delivered to the Fort Worth City Council on Feb. 6.

Mike Berry, Hillwood president, said that he had hoped the area would to 50,000 jobs by the end of the year, but he expects to cross that threshold in 2018.

An annual study by Insight Research Corporation reports that AllianceTexas has generated approximately $69.08 billion in economic impact from 1990 – 2017, with about $4.73 billion of this generated in 2017.

Private investment at AllianceTexas is estimated to be $8.22 billion, representing a 12-to-1 private-to-public per-dollar investment, while total public investment in the project — which includes roads, infrastructure and schools — exceeds $689 million.

“AllianceTexas continues to be a significant driver for our regional economy as we expand our footprint even farther north into Denton County,” said Berry. “I’m proud to say that AllianceTexas is also leading the way for the region in attracting high-paying jobs in the technology and financial services industries, while also seeing a great deal of e-commerce expansion.”

Since 1990, the success of AllianceTexas has resulted in increased tax revenue and $1.9 billion, this includes the $173.6 million in property taxes paid to local public entities in 2017, paid to the nine public entities within the project:

— Fort Worth

— Roanoke

— Haslet

— Northlake

— Westlake

— Tarrant County

— Denton County

— Keller ISD

— Northwest ISD

In recent years, many of the new jobs coming to Texas have been in the tech sector. Upon full build-out, AllianceTexas will be capable of delivering more than 400 megawatts of new supply, basically replicating the current capacity of the entire Dallas-Fort Worth marketplace. In fact, AllianceTexas has been home to data centers for more than 20 years, and has 350-400 acres master-planned specifically for data center development.

In this time of expansion in the tech sector, Facebook’s $1 billion data center campus has settled in AllianceTexas while T5 Data Centers plans to partner with Hillwood to develop the T5@Alliance data center campus.

The growing tech sector at AllianceTexas increases the expansion of financial services providers as well with the arrival of Charles Schwab Corporation’s regional corporate campus at Circle T Ranch, and Mercedes-Benz Financial Services’ new, build-to-suit, 200,000 square-foot facility. The companies will have an approximate combined total of 5,900 direct and indirect jobs.

In addition to the tech and financial services growth bringing or retaining jobs, e-commerce continues to drive new career opportunities with brands such as Amazon.com, Walmart.com and UPS at AllianceTexas.

The Alliance Airport, which anchors the development, opened two new aircraft hangars and added new services through Hillwood Airways. Additionally, the 2018 completion of the runway extension project aims to further establish the airport as one of the top regional and national industrial airports.

During his presentation, Berry made note that the last segment of the Interstate 35N needs to be completed. The Fort Worth Chamber of Commerce has started a letter-writing campaign to urge Texas lawmakers and transportation leaders to properly fund the final portion of the North Tarrant Express Project, which runs from north of downtown to the AllianceTexas area.

In 2009 the Texas Legislature approved a funding mechanism for the North Tarrant Express that included the addition of toll lanes, but late in 2017, as the popularity of toll lanes has decreased, the Texas Transportation Commission rejected funding for highway projects that included toll lanes.

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