The area is now the largest industrial submarket in North Texas with the highest net-absorption
FORT WORTH, Texas (Feb. 15, 2022) – AllianceTexas, Hillwood’s 27,000-acre master-planned, mixed-use community in north Fort Worth, continues to be one of the state’s most formidable economic engines with approximately $100 billion generated in regional economic impact and over $3.13 billion in total taxes paid to local public entities during the past three decades. According to its annual Insight Research Corporation report, more than $8.66 billion of the development’s economic impact was generated in 2021 alone.
See the full report and video of AllianceTexas here.
A driver for regional success, AllianceTexas is now home to 559 companies, with more than 53 million square feet of office, retail and industrial space built since 1989. Significant milestones in 2021 can be attributed to the continued success of the e-commerce sector, the backbone of the AllianceTexas industrial complex. The Alliance corridor now represents the largest industrial submarket in North Texas with the highest net-absorption, according to CoStar, the international leader in commercial real estate data in the U.S., Canada and the United Kingdom. In 2021, Hillwood leased over 6.3 million square feet of space, and launched the largest industrial speculative building at AllianceTexas to-date, Alliance Center East 1, totaling over 1.2 million square feet. In addition, Hillwood broke ground on Alliance Center North 8 and 9, two speculative industrial buildings that are nearly 1 million square feet combined.
Other important milestones include the expansion of the AllianceTexas Mobility Innovation Zone (MIZ). The MIZ is a one-of-a-kind infrastructure platform offering mobility visionaries full access to an unparalleled ecosystem, resources and partnerships essential to comprehensively test, scale and commercialize their technologies. A key component of the MIZ, the AllianceTexas Flight Test Center, was the launch point for North Texas’ first unmanned aircraft system (UAS) delivery demonstration to a residential community in partnership with the Bell. The Flight Test Center also enabled Wing, one of the first providers of drone delivery services in the U.S., to conduct key test flights of its delivery drone operation prior to launching at Hillwood’s Frisco, Texas-based development, Frisco Station. ITS ConGlobal, America’s leading operator of intermodal, finished vehicle and depot services terminals, moved its corporate office into AllianceTexas in January 2021 and expanded its remote trucking operations, in partnership with Phantom Auto, in November. Gatik, the leader in autonomous middle-mile logistics, also opened a new autonomous trucking facility, establishing its long-term presence in Texas.
“The success of AllianceTexas can be attributed to the collaborative relationship between public and private sectors, each having a shared vision and goal for community growth,” said Mike Berry, president of Hillwood. “AllianceTexas continues to be a sustainable economic engine for the State of Texas and serves as the premier destination where businesses from multiple industries can grow and thrive.”
Widely considered one of the country’s most successful public-private partnership endeavors, total investment at AllianceTexas surpassed $12.64 billion in 2021, with a staggering $11.68 billion coming from the private sector. Public investment totaling more than $968 million has been invested in the project to date, representing a 12-to-1 private-to-public-dollar investment multiple.
Geographically encompassing seven municipalities, four independent school districts and two counties, AllianceTexas has exponentially increased tax revenue for the public entities within the project. Since 1990, more than $3.13 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 and Denton ISD were not included in the 2021 report, as development is still forthcoming). In 2021 alone, the project contributed nearly $292.2 million in property taxes to these local entities.
In addition to its industrial 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. With a variety of single-family homes, townhomes and multifamily units, Alliance Town Center remains the leading regional retail and entertainment destination for the entire north Fort Worth region. In 2021, DFW-area favorite, Truck Yard, began construction, adding to the growing list of experiential dining and entertainment options in north Fort Worth.
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 the North Texas 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, Fort Worth Alliance Airport, and hosts one of the nation’s premier intermodal hubs. Today, AllianceTexas is home to 559 companies that have created more than 63,000 direct jobs and has approximately 53 million square feet of developed commercial real estate assets. The development’s cumulative impact since 1989 is an estimated $100.6 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 of 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 which have become home to many of the world’s leading companies, Hillwood is committed to bringing long-term value to our customers and partners and the communities in which 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.
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