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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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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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Fort Worth breaks ground on $8.6 million South Main renovation

Fort Worth Near Southsiders and city officials broke ground Monday on the 18-month rebuild of South Main Street between Vickery Boulevard and West Magnolia Avenue.

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Body-camera maker has financial ties to former Fort Worth police chief, others

IOWA CITY, Iowa (AP) — Taser International, the stun-gun maker emerging as a leading supplier of body cameras for police, has cultivated financial ties to police chiefs whose departments have bought the recording devices, raising a host of conflict-of-interest questions.

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Fort Worth Police association planning 25,000-square-foot offices

The POA, which recently demolished its one-story building at 904 Collier St. near downtown, is planning a five-story replacement.

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Report: Consumer spending boosted Texas economy
 


EMILY SCHMALL, Associated Press

FORT WORTH, Texas (AP) — Steady growth in consumer spending, spurred by increasing disposable income and job creation, has helped fuel the Texas economy over the last 15 years, according to a new report by the U.S. Commerce Department's Bureau of Economic Analysis.

The government released Thursday its inaugural report analyzing consumer spending data by state, which reveals the nation's uneven recovery from the Great Recession. The report considers data from the calendar years 1997 through 2012.

North Dakota led the nation in 2012 with a 9.2 percent increase in per capita personal expenditures, compared to a 3.3 percent advance nationally. Texas, Oklahoma and Utah followed, with gains in consumer spending of between 4 and 4.2 percent, suggesting that the boom in hydraulic fracturing has stimulated greater overall spending in areas where the oil and gas drilling method is taking place, said James Galbraith, an economist at the University of Texas at Austin.

"Fracking probably accounts for a fair share of the difference between Texas and other states. One 'tell' that this is due, in good part, to the fracking boom, lies in the fact that Oklahoma is also a fast-growth state. Also (North) Dakota," Galbraith said.

In Texas, personal expenditures rose in tandem with disposable income.

"The Texas economy has been on a bit of a tear," Dallas Federal Reserve economist Pia Orrenius said. "It's very related to the mini oil boom," she said.

Texas has led the nation in job growth, with high labor demand boosting incomes.

Per capita spending in Texas rose 4.1 percent from 2011 to 2012 on the strength of autos and auto part sales and transportation services, including oil and gas tankers, trains and trucks carrying drilling equipment. A pressing shortage of truck drivers statewide has resulted in huge increases in compensation for drivers and other service providers to the energy sector.

Texas consumers spent more on cars, auto parts, gas and energy products when compared to the three other states with the largest populations — California, New York and Florida. And Texas consumers spent more than twice what New York did on cars and parts.

Conversely, of the four states, Texas consumers spent the least on housing and utilities — second only to Mississippi — and about 57 percent of what Californians spent on health care.

 

 

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