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SEARCHThe 25-year study from the University of North Texas estimates $51.5 million of direct tax revenues in transit-oriented developments in the past two years.
Construction around DART stations in 2022-2024 generated $51.5 million in state and local tax revenue, the bulk of which ($25.4 million) was from sales tax related to construction of the projects.
Photo: DART
The University of North Texas (UNT) Economic Research Group released the results of a 25-year study on the economic impact of transit-oriented development in North Texas today.
The key finding in the report is that development within a quarter mile of DART light rail stations has generated $18.1 billion direct economic impact on North Texas over the past 25 years. This includes a $1 billion direct impact in the two years from 2022 to 2024.
“The findings are not surprising because we know over the past 25 years of study that transit-oriented development around DART light rail stations results in commerce, tax revenue, and jobs,” said Michael Carroll, PhD, UNT’s university economist and director of the Economic Research Group. “When we center sustainable transportation in development, the result is beneficial in nearly every way.”
The study also found that rent premiums in transit-oriented developments were 10% higher for residential units and 12.6% higher for commercial units compared to those located more than half a mile from the station.
According to UNT in a DART release, transit-oriented development is also a "job creator," with 5,295 jobs directly created and more than $428 million in labor income generated in the last two years alone.
Construction around DART stations in 2022-2024 generated $51.5 million in state and local tax revenue, the bulk of which ($25.4 million) was from sales tax related to construction of the projects. In addition to this development-related sales tax, development around DART stations generated $21.1 million in property taxes, with $5.0 million in other state and local revenue from miscellaneous fees and fines.
These numbers outpace the core pandemic years (2019-2021) when construction around DART stations generated $50 million ($1.4 million less) in state and local tax revenue.
“When we talk about the role DART plays in the local economy, we mean that in a very literal sense, beyond just moving people to and from their jobs,” says Nadine Lee, DART CEO and president. “Every dollar generated by and within development around our light rail stations has the ability to improve our cities, provide economic mobility and stability to our residents, and grow opportunity for North Texas.”
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