AllianceTexas
The booming AllianceTexas development continues to be a hard-churning economic engine for Fort Worth and its surrounding communities, according to a study presented to the Fort Worth City Council on Tuesday.
Over the past 35 years, the 27,000-acre mixed-use development in north Fort Worth has generated an estimated $120 billion in regional economic impact, according to Insight Research Corp.’s annual study.
Almost $10 billion was generated in 2023.
“This has become my favorite day of the year because it’s been good news,” said Mike Berry, president of Hillwood, who addressed members of the City Council on Tuesday afternoon.
AllianceTexas is now home to 574 companies and 66,198 direct jobs, with 58 million square feet of office, retail and industrial space built since 1989.
In the past year, Southwire, one of the leading manufacturers of wire and cable used in the transmission and distribution of electricity, announced an expansion of its operations in AllianceTexas, leasing 1.18 million square feet at Alliance Westport 25. The expansion also represents the creation of 250 more jobs.
Moreover, McMaster-Carr chose Alliance to establish a regional headquarters and distribution center, in all a $360 million investment that will create, at a minimum, 250 full-time jobs at a minimum salary of $85,000 by the end of the sixth operating year.
“Hillwood’s impact at AllianceTexas and numerous urban developments throughout the region have been immeasurable in their impact on North Texas’ continued leadership and success,” Fort Worth Mayor Mattie Parker said. “AllianceTexas remains a constant powerhouse and sets the standard in our region and nationally for providing companies with innovative resources and opportunities for growth while also creating an environment that offers an array of outstanding housing options and lifestyle amenities.”
AllianceTexas
Total investment at AllianceTexas surpassed $15.2 billion in 2023, with a staggering $14.1 billion coming from the private sector. Public investment totaling $1.1 billion has been invested in the project to date, representing more than a 13-to-1 private-to-public-dollar investment multiple.
Yet, over the past three decades, AllianceTexas has produced more than $3.8 billion in total taxes paid to 14 local public jurisdictions, including more than $752 million to the city of Fort Worth.
The airport itself, Perot Field Fort Worth Alliance Airport, remains a catalyst for the development.
Perot Field was the only nonpassenger airport ranked in the Top 20 U.S cargo airports, moving 2.5 billion pounds of cargo.
“We’re just as forward-thinking today as when we created AllianceTexas 35 years ago, and that transformative philosophy — anchored by the collaborative partnership between public and private sectors,” said Berry. “AllianceTexas continues to be a sustainable economic engine for the state of Texas, creating thousands of jobs while serving as a corporate base to some of the world’s most iconic brands, including Amazon, FedEx, BNSF Railway, Meta, Charles Schwab, Fidelity Investments, Deloitte and UPS, among dozens of others.”
Hillwood also last year acquired a full city block in the heart of downtown Fort Worth. Berry said the company continues to explore development possibilities. The property, bounded by Sixth and Seventh streets to the north and south, and Calhoun and Jones Streets to the east and west, sits at the doorstep of the rapidly evolving southern corridor, where the Texas A&M Tier 1 urban campus is being constructed.
Said Berry: “We love what’s going on downtown, particularly in the southern quarter.”