The Connect March 2023
AllianceTexas Surpasses $111 Billion In Economic Impact
AllianceTexas continues to be one of the state’s most formidable economic engines. Over the past three decades, the development has generated approximately $111.5 billion in regional economic impact and over $3.4 billion in total taxes paid to local public entities.
According to Insight Research Corporation’s annual economic impact report, more than $10.88 billion of the development’s economic impact was generated in 2022 alone. Mike Berry, president of Hillwood, presented this data in his annual economic impact presentation to the Fort Worth City Council. View the full economic impact report.
“Our success at Hillwood over the years in developing AllianceTexas as a major job center and economic engine for North Texas is a result of a unique spirit of partnership that doesn’t exist anywhere else in the United States,” Berry said. “AllianceTexas is primarily a private sector-led economic engine, but what excites us most about the report is the exponential return on public investment evidenced by taxes paid and jobs created now occurring on an annual basis. These are numbers nobody could have ever imagined in 1989.”
AllianceTexas is now home to 562 companies, with more than 55 million square feet of office, retail and industrial space built since 1989. Its total investment surpassed $14.2 billion in 2022, with a staggering $13.1 billion coming from the private sector. Public investment totaling $1.08 billion has been invested in the project to date, representing a 12-to-1 private-to-public-dollar investment multiple.
"AllianceTexas is an absolute powerhouse in Fort Worth,” Fort Worth mayor Mattie Parker said. “By every metric — job creation, economic impact, property tax contribution, opportunities for innovation, and more — AllianceTexas proves itself year after year to be incredibly impactful not only locally, but also across the region, state, and country."
In 2022, Hillwood leased its largest industrial speculative building to date to Target Corporation in May at Alliance Center East 1 (ACE 1). The 1,240,584-square-foot facility lease was ranked the largest industrial lease in the Dallas-Fort Worth market in 2022, according to CoStar. Explore availability at AllianceTexas.