AllianceTexas, the Hillwood development company’s 27,000-acre, mixed-use development in northeast Fort Worth, generated nearly $10 billion in 2023.

This year marks the 35th year for AllianceTexas, and with it an estimated cumulative $120 billion in regional economic impact, according to the annual presentation Hillwood President Mike Berry gave at a Feb. 6 Fort Worth City Council work session.

“Our economic impact growth is running at about an average of 10% a year,” Berry said. “I hope we can keep that up.”
The overview

The report, generated by Insight Research Corporation, also showed $3.8 billion in property taxes paid to a number of public entities, including $752 million paid to the city of Fort Worth since 1990.

Over the years, AllianceTexas has grown to:
  • 574 companies
  • 66,198 direct jobs
  • 57.8 million square feet of office, retail and industrial space
In 2023, the total investment in AllianceTexas exceeded $15.2 billion, mainly from private sources amounting to $14.1 billion. Public funding accounted for about $1.1 billion. This means that for every dollar of public investment, there was over $13 from private sources, according to a Feb. 6 news release from Hillwood.

“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—has brought nearly $120 billion in economic impact for the North Texas region,” Berry said in the release.

What else?

AllianceTexas serves as the corporate base for companies such as Amazon, Charles Schwab, BNSF Railway, Meta and more.

Berry’s presentation also noted recent achievements, such as the expansion of Southwire, a manufacturer of electronic components. Southwire leased 1.18 million square feet and is creating positions for 250 new team members, the release stated. McMaster-Carr, a supplier of hardware tools and more, is also making a $360 million investment in AllianceTexas with a 117-acre regional headquarters and distribution facility.

AllianceTexas is also looking to expand its autonomous technology in its Mobility Innovation Zone, according to the news release.

"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 in the release. “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.”

In October, Hillwood acquired its first city block in downtown Fort Worth and is looking to use that space to expand its presence in the future, the release stated.

“We don’t really know what we want to do [with that block], but there is a huge amount of interest just since we’ve announced that,” Berry said to council. “So I’m pretty encouraged, and we’re going to look for more ways to improve our footprint and our flag in the city.”