FORT WORTH, Texas (February 6, 2024) – AllianceTexas, Hillwood’s 27,000-acre master-planned, mixed-use development in north Fort Worth, continues its legacy as one of the nation’s most formidable economic engines, generating an estimated $119.8 billion in regional economic impact over the past 35 years. According to Insight Research Corporation’s annual economic impact report, more than $9.84 billion of the development’s economic impact was created in 2023 alone.
Widely considered one of the country’s most successful public-private partnership endeavors, 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. In addition, over the past three decades, AllianceTexas has produced over $3.8 billion in total taxes paid to local public entities.
See the full AllianceTexas Annual Economic Impact Report here.
A leading driver for regional success, AllianceTexas is now home to 574 companies, with 58 million square feet of office, retail and industrial space built since 1989.
From the newest homeowner to the most well-known Fortune 500 companies, opportunity thrives at AllianceTexas. It boasts corporate headquarters, healthcare providers, higher education centers, shopping and entertainment destinations and vibrant residential communities.
“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,” said Mike Berry, president of Hillwood. “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.”
Economic impact at AllianceTexas is also created through access to multiple modes of transportation combined with the latest, most innovative technologies that ensure uninterrupted supply chains and on-time deliveries. For example, the Alliance Westport sector offers a one-of-a-kind location across from the entrance to the BNSF Intermodal Facility with over 15 million square feet of developable next-generation distribution facility space designed and master planned to be fully integrated with a smart-infrastructure platform featuring remote and autonomous freight optimization capabilities.
Recently, Southwire, one of the leading manufacturers of wire and cable used in the transmission and distribution of electricity, chose to expand its operations within AllianceTexas, leasing 1.18 million square feet at Alliance Westport 25. Further underscoring North Texas’ prominence as a premier job center, Southwire’s expansion includes job creation for 250 new team members.
Hillwood continues to look to integrate the next-generation movement of goods across the supply chain, convening visionaries in logistics innovation at the AllianceTexas Mobility Innovation Zone (MIZ). To name a few, Manna, Europe’s leading delivery operator, announced its last-mile delivery services entry into the U.S. at the MIZ. On the surface side, mile-middle leader Gatik continues using the platform to further commercialize its autonomous technology.
Perot Field Fort Worth Alliance Airport (AFW) serves as the catalyst for the 27,000-acre AllianceTexas development. Designated in 1989 as the world’s first industrial airport, AFW enters its 35th year as the regional cargo hub for Amazon and FedEx, and the only non-passenger airport ranked in the Top 20 U.S cargo airports, moving 2.5 billion pounds of cargo. Alliance Aviation Services, the fixed-base operator (FBO) at AFW, was also ranked among the top 20 percent of service providers in the 2023 AIN FBO Survey: The Americas.
Geographically, AllianceTexas encompasses nine municipalities, five independent school districts and two counties. Since 1990, more than $3.8 billion has been paid in property taxes cumulatively to the Cities of Fort Worth, Haslet, Roanoke, Northlake, Westlake and Corral City; Tarrant and Denton Counties; and Northwest, Keller, and Argyle Independent School Districts (City of Denton, Denton ISD, the City of Justin, and the City of Argyle were not included in the 2023 report, as development is still forthcoming). In 2023 alone, the project contributed nearly $344.6 million in property taxes to these local entities.
“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.”
In addition to its industrial, aviation, and office core, AllianceTexas also features an array of shopping, dining, medical, recreational, and entertainment options seamlessly integrated into its diverse and highly sought-after residential options.
Expanding its presence, Hillwood recently acquired a full city block in the heart of downtown Fort Worth. The property is located at the front door of the rapidly growing downtown southern corridor, bounded by 6th and 7th Streets to the north and south and Calhoun and Jones Streets to the east and west. The purchase reinforces Hillwood’s longtime commitment to Fort Worth and marks its first investment downtown.
For a more detailed overview of AllianceTexas’ economic impact report and additional information about the development, including expansive sections covering available asset classes, sector locations, and lifestyle amenities, please visit AllianceTexas’ online resources page at www.alliancetexas.com/resources.
AllianceTexas is an unparalleled regional success story that has transformed North Texas’s economy and connected the area to global industry. Consisting of 27,000 acres, the Hillwood development is anchored by the world’s first dedicated industrial airport, Perot Field Fort Worth Alliance Airport (AFW), and hosts one of the nation’s premier intermodal hubs. Today, AllianceTexas is home to 575 companies that have created more than 66,000 direct jobs and have approximately 58 million square feet of developed commercial real estate assets. The cumulative impact of the development since 1989 is an estimated $120 billion for the North Texas region. AllianceTexas boasts corporate headquarters, healthcare providers, higher education centers, shopping and entertainment destinations, and vibrant residential communities. From the newest homeowner to the most well-known Fortune 500 companies, opportunity thrives at AllianceTexas. For additional information, please visit www.alliancetexas.com.
Hillwood, a Perot company, is a premier industrial, commercial and residential real estate developer and manager with projects throughout North America and Europe. With a diverse portfolio of properties that have become home to many of the world’s leading companies, Hillwood is committed to bringing long-term value to our customers, partners, and the communities we serve. Hillwood also served as the lead developer of marquee projects nationwide, from the Air Force Memorial in Washington, D.C., to the Perot Museum of Nature and Science and the American Airlines Center in Dallas. For additional information, please visit www.hillwood.com.