Job growth slowed some at AllianceTexas in far north Fort Worth in 2016, but the development still serves as one of the city’s top employment centers, according to a new report.
About 2,500 jobs were created last year, half of the number of new jobs in 2015, according to a report to the City Council on Tuesday. Now, Hillwood Properties says the 18,000-acre mixed-use development has created 47,457 jobs. That figure does not represent the 5,000 jobs announced in November by Charles Schwab Corp., which plans a $100 million corporate campus in Westlake.
And since the opening of Alliance Airport in 1989, the development has generated $64.35 billion in economic impact to North Texas. Of that, $4.66 billion came last year, the report said. The amount is higher than the $4.32 billion impact in 2015, but below the 2014 impact of $4.75 billion.
“We experienced significant growth over the past year, especially as it relates to our office program throughout the development,” said Mike Berry, Hillwood’s president, in a statement.
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In November, state Comptroller Glenn Hegar said an economic study of Alliance shows it supports 67,000 jobs statewide, generated $10.9 billion in economic activity and added $6.4 billion to the state’s gross domestic product in 2015.
The report is updated annually by Insight Research Corp. and measures the impact of total investment and total jobs at the development. Alliance has industrial, Class A office, aviation, retail, residential, medical and multifamily real estate projects. The majority of the Alliance development is located in Fort Worth. It has 43.3 million square feet of space and another 3 million square feet under construction. About 470 companies are located within Alliance.
In 2016, Alliance paid $155.9 million in property taxes to eight public entities, including $29.1 million to Fort Worth and $30.3 million to Tarrant County. To date, the development has paid $1.75 billion in property taxes.
Facebook’s $1 billion data centers continue to prove a windfall for Alliance. Late last year, Facebook said it would triple the size of its data center complex at Alliance to five buildings totaling about 2.5 million square feet, from three buildings totaling 750,000 square feet. Experts say the data center has the potential to become the largest such facility globally, Berry said.
The project began in 2015 and the first building of the data center should be open later this year. Facebook owns about 150 acres at Texas 170 and Park Vista Boulevard in the Alliance development.
It’s anticipated that once the runway-expansion project at Alliance Airport is completed, the area will experience another boost. The longer runway will allow bigger planes to take off and land. The expansion should be completed in 2018.
The airport is owned by the city but operated by Hillwood, a Ross Perot Jr. company.