The 26,000-acre mixed-use development in Northeast Fort Worth generated an estimated economic impact of $7.31 billion in 2019, according to an organizational news release. The total economic impact of AllianceTexas since 1990 is estimated at more than $83 billion, the release said.
The 2019 AllianceTexas Economic Impact Report measured more than $10.5 billion in capital investment at the end of 2019, with more than 90% of funding coming from private entities. Among other AllianceTexas metrics, the report indicates a total of 525 companies and more than 60,000 direct employees occupying more than 50 million square feet of development.
“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 the investment and development company Hillwood, in the release. “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.”
The scope of AllianceTexas reaches two counties, four school districts and six municipalities. Since 1990, AllianceTexas developments have contributed more than $2.5 billion in property taxes to those entities, according to the 2019 EIR.
In 2019 alone, AllianceTexas projects contributed more than $242 million in property taxes to cities, counties and school districts, the report said.
According to the report, AllianceTexas property tax contributions in 2019 included $47.5 million to Fort Worth, $4.1 million to Roanoke, $5.3 million to Denton County, $42.9 million to Tarrant County, $52.7 million to Keller ISD and $78 million to Northwest ISD.