Fort Worth most “pro-growth” city in U.S.
September 7,2023
See full The Real Deal article by TRD Staff here.
Fort Worth still has lots of room for development, and its leaders are raring to go.
In fact, Cowtown is the most “pro-growth” city in the United States. The Pacific Research Institute put it first among the nation’s 50 largest pro-growth cities, the Dallas Business Journal reported.
Fort Worth emerged as the frontrunner because of local policies that promote growth and migration. Austin was second on the list. On the flip side, New York, Los Angeles, and Oakland were identified as the least pro-growth large cities in America.
Fort Worth continues to draw in migrants at an astonishing rate, nabbing over 19,000 new residents between 2021 and 2022, more than any other city, according to the U.S. Census Bureau. Demographers estimate that the city’s population now stands at nearly 957,000, and it is well on its way to surpassing the one-million mark before the end of the decade. Fort Worth is now the 13th largest city in the U.S. and the fifth-largest city in Texas.
The Pacific Research Institute shed light on the correlation between growth-oriented policies and population expansion. It scrutinized “crucial categories” of economic incentives, business climates, individual tax burdens, quality of life, regulatory environments, income-adjusted affordability and the size of the homeless population, as well as those living in poverty. Fort Worth’s performance across these areas showcases its well-rounded commitment to fostering growth.
Cities that are experiencing significant population growth tend to adopt pro-growth policies. In essence, this means that people are voting with their feet and expressing their support for these policies through their choice of residence.
Fort Worth has gone all in on commercial real estate development this year. As of June, it had over $2 billion of new projects under development, including the $265 million mixed-use development Crescent Fort Worth, currently under construction by local developer John Goff of Crescent Real Estate. The booming city also has about 5,000 apartments currently under construction, including 3,200 units along the Chisholm Trail Parkway.