FORT WORTH, Texas (Dec. 8, 2009) – As it reaches its 20th anniversary on Dec. 14, AllianceTexas has had a $36.4 billion economic impact on North Texas. The 229 companies that now call the development home have built 31.2 million square feet and created 28,000 jobs. Since the development began, the companies and residents of the AllianceTexas also have paid more than $730 million in property taxes, including more than $105 million in 2008.
Of the $7.2 billion that has been invested in AllianceTexas, $6.8 billion (94.6%) has come from the private sector, while 5.4% has come from the public sector, including the city of Fort Worth, the state of Texas and the Federal Aviation Administration. Every dollar of public money invested in the project has yielded more than $17 in private investment. The city of Fort Worth’s year-to-date investment of $39.2 million has yielded $140.9 million in property taxes alone.
The economic impact report determines the direct and indirect impact of the investment, employment and tax revenue from AllianceTexas. The study includes construction as well as ongoing business operations.
“Over the past year at AllianceTexas, new jobs were created, companies were added and property taxes paid increased despite the challenging economic times that we’ve experienced,” said Mike Berry, president of Hillwood Properties, the developer of AllianceTexas. “This is the vision that the political leadership, led by Bob Bolen and Jim Wright, had in the late 1980s, when the area was facing equally tough economic conditions, which led them to make the bold decision to invest in an Alliance project that would help create more jobs and diversify the economy of Fort Worth and Tarrant County.
“AllianceTexas also is only about 40% developed, so it’s equally important now that additional investment is made in critical transportation infrastructure that will allow the development to continue to grow, create jobs and fulfill the intentions that these leaders had when they made the initial public investment two decades ago.”
To date in 2009, close to 800 new jobs have been created at AllianceTexas. Q-Edge added 500 jobs at its 365,440 square-foot electronics assembly and distribution center that it moved from California to Alliance in March. In September United Supermarkets purchased 14 acres at Alliance to build a 200,000 square-foot distribution center that will employ 75 workers. Last month Kroger announced it will bring its new Kroger Marketplace concept to Alliance Town Center with a 123,000 square-foot store that will employ 100 workers.
In addition Deloitte began construction in October on its 750,000 square-foot training center that will employ 450 workers beginning in 2011, when it opens at Circle T Ranch. Health Care Services, the parent company of Blue Cross Blue Shield of Texas, also completed construction earlier this year on its 220,000 square-foot data center that employs 130 workers at Alliance.
Also Sam Moon opened its 168,000 square-foot center at Alliance Town Center in May. Kincaid’s Hamburgers and Freebird’s World Burrito also opened new restaurants at Alliance Town Center this year, while construction began there on BJs Restaurant and Brewhouse, Olive Garden and Rooms To Go.
Fort Worth Alliance Airport opened on Dec. 14, 1989 as the world’s first industrial airport and the centerpiece of an Alliance development that initially was designed to attract air cargo and aerospace manufacturing facilities. The subsequent addition of the BNSF Intermodal Facility on the west side, along with the existing Union Pacific mainline to rail serve buildings on the east side of the development, as well as the FedEx Sorting Hub, created an inland port intermodal logistics hub that is now the prototype for similar projects across the country.
As the project continued to grow and become more diversified with the addition of office, residential, entertainment and retail, Hillwood rebranded the development as AllianceTexas, which now includes the Alliance Global Logistics Hub, Circle T Ranch, the Heritage and Saratoga residential communities, Alliance Town Center, the Vaquero luxury golf community, and the Monterra Village apartment home community.
The $730.5 million in property taxes from AllianceTexas since 1990 has been paid to three cities (Fort Worth, Haslet, Roanoke), two counties (Denton, Tarrant) and two school districts (Northwest, Keller) that it falls within. That number has grown significantly from the $223,000 in property taxes generated from the same area in 1990. AllianceTexas also falls within the town of Westlake, but that community does not have a municipal property tax.
From 1990-2008, AllianceTexas companies and Hillwood-related entities along Interstate 35W have paid $730.5 million in property taxes, including $105 million in 2008. Below is a breakdown of the various public entities to which these funds flowed.
2008 1990-2008
Fort Worth ………………………………………………………. $21.3 million……………………… $140.9 million
Haslet……………………………………………………………….. $0.6 million…………………………. $6.2 million
Roanoke……………………………………………………………. $3.7 million……………………….. $18.3 million
Denton County……………………………………………………. $2.9 million……………………….. $19.2 million
Tarrant County……………………………………………………$20.2 million……………………… $121.5 million
Keller Independent School District………………………… $23.6 million……………………… $139.7 million
Northwest Independent School District…………………. $32.7 million……………………… $284.7 million
TOTAL………………………………………………………. $105.0 million……………………… $730.5 million
Insight Research performed the original economic impact report in 2000 and reviews it annually based on new data. Since its founding in 1981, Insight Research has become nationally known for its pacesetting analytical approaches in providing economic, employment, tax revenue impact and cost/benefits analysis. The company’s client list includes the FDIC, the U.S. Department of Energy, the Texas Department of Transportation, Fort Worth, New York and Chicago, as well as Fortune 500 companies, such as 3-M, American Express, AT&T and Dell.
Hillwood, (www.hillwood.com) a Perot company, is ranked as one of the top commercial real estate developers in the country and the top residential developer in Dallas-Fort Worth. The company’s developments currently house facilities for more than 85 companies listed on either the Fortune 500, Global 500 or Forbes List of Top Private firms. In addition to AllianceTexas, Hillwood is best known for its development of AllianceCalifornia near Los Angeles and the $420-million American Airlines Center and Victory district near downtown Dallas.
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