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Berkshire Hathaway company acquires Fort Worth firm

M&M Manufacturing, a producer of sheet metal products for the air distribution and ventilation market based in Fort Worth, has been acquired by MiTek Industries Inc., a subsidiary of Warren Buffett’s Berkshire Hathaway Inc.,

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UPDATE: Six candidates file for two Water Board seats

Six candidates have filed for the two open seats on the Tarrant Regional Water Board, setting up a battle that could potentially shift the balance of power on the board and the priorities of one of the largest water districts in Texas.

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26-story mixed-use tower planned at Taylor & Fifth in downtown Fort Worth

Jetta Operating Co., a 24-year-old privately held oil and gas company in Fort Worth, and a related entity plan a 26-story mixed-use tower downtown at Taylor and Fifth streets on a site once owned by the Star-Telegram.

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Top area CFOs honored

The Fort Worth Business Press honored 13 area chief financial officers today with a luncheon at the Fort Worth Club.

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Fort Worth Superintendent candidate withdraws from consideration

And then there were none. The lone Fort Worth ISD Superintendent candidate, Dr. Joel D. Boyd, has informed the Fort Worth ISD Board of Education that he is

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AllianceTexas to pass $50B in economic impact

Hey, want some numbers?

AllianceTexas Economic Impact Report

Key figures

Economic Impact 1990 - 2013
$50.62 Billion
Economic Impact 2013
$3.78 Billion
Forecasted Total Property Taxes Paid in 2013
$121.2 million
Forecasted Square Footage Developed 1990 - December 31, 2013
33.9 million
Forecasted Homes Completed 1990 - December 31, 2013
8,150
Hotel Rooms Completed
200
Apartment Homes Completed
550
Direct Jobs Created
37,032
Direct Jobs + Construction Jobs Created
38,953
Indirect Jobs Created
90,982

Forecasted Property Taxes Paid 1990 - 2013
$1,302,867,393
City of Fort Worth
$252,639,211
City of Haslet
$9,354,882
City of Roanoke
$32,589,608
Town of Westlake
$2,767,699
Denton County
$33,006,813
Tarrant County
$232,242,361
Keller ISD
$277,684,313
Northwest ISD
$462,582,504

AllianceTexas is expected to provide an economic impact of $50 billion to the North Texas region over the life of the project, according to a presentation made to the Fort Worth City Council on Dec. 10.


The milestone gives an indication of the continued growth taking place at the development – which now encompasses industrial, Class A office, aviation, retail, residential and multifamily real estate projects. The projection is based upon activity covering the years 1990 through 2013, and includes more than $1.3 billion in paid taxes to the eight public entities covering the development. The study was prepared by Insight Research Corp. 


Mike Berry, president of Hillwood Properties, said this year “will be remembered as one of the most significant years in the project’s history.


“For the first time since 2007, we initiated projects in each of our core real estate asset classes, including two separate spec industrial efforts,” he said. “Moreover, we saw more than 5,000 jobs created during the year, with a substantial number occurring in manufacturing and e-commerce fulfillment – two areas where AllianceTexas has been noted by the national media for being on the cusp of national employment trends.”

According the study, total investment in the project exceeded $8 billion during the 1990 thru 2013 timeframe, with nearly $7.6 billion coming from the private sector, and a little more than $450 million coming from the public. With a 17-1 return on investment from the private sector, AllianceTexas represents one of the nation’s most successful public-private partnerships of its kind, and continues to provide exponential tax revenue growth to each of the project’s eight public entities, according to Hillwood officials.
“One of the most encouraging trends in the study includes three straight calendar years (2011-2013) where AllianceTexas generated more than $3 billion in economic impact,” said Berry. “This type of exponential growth exceeds any expectation we envisioned in 1989, and as we prepare to celebrate the project’s 25th anniversary, we are experiencing more activity than ever before. It will be very exciting to see what the future holds for AllianceTexas.”
 

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