Fort Worth’s huge AllianceTexas development is celebrating its 35th year with another increase in value.
The 27,000-acre development in North Fort Worth and southern Denton County was valued at $15.3 billion at the end of 2023.
The massive development had nearly $10 billion in regional economic impact last year, according to project developer Hillwood.
AllianceTexas houses operations of 574 companies. Developers have constructed 58 million square feet of office, retail and industrial space since the project’s groundbreaking in 1989.
“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,” Hillwood president Mike Berry said in a statement.
AllianceTexas’ biggest addition in 2023 was a 1.2 million-square-foot operation for Georgia-based electrical component firm, Southwire Co. The distribution center will be in Hillwood’s Alliance Westport 25 building on Blue Mound Road near Interstate 35W and will employ 250 workers.
More than 66,000 jobs have been created in the development during the last three and a half decades.
Hillwood also is constructing two more speculative industrial buildings in the Alliance Center East business park that will add another 450,000 square feet of business space.
Financial services firm Charles Schwab is finishing out the fourth building in its headquarters in the Circle T Ranch. Deloitte LLP is making a $300 million addition to its 12-year-old campus.
In 2023, AllianceTexas generated almost $344.6 million in property taxes for local governments.
“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,” Fort Worth mayor Mattie Parker said in a statement.
