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City Profile

the area. As a major cultural, social, and economic core in the region, the City of Fort Worth and surrounding cities
continue to fully support the health of the base and the strength of its missions.

THE ECONOMY
Prior to events and impacts associated with COVID-19, Fort Worth was continuing a sustained multi-year trend of
broad-based growth across sectors. Much of this business growth has fueled and been fueled by Fort Worth’s status
as one of the top places in the nation to live, work, and play. With a growing workforce, top educational facilities,
low cost of doing business, high quality of life, prime location, and climate, the City is an attractive choice for
companies looking to expand their operations.

Major employers in Fort Worth include AMR/American Airlines, Lockheed Martin, JPS Health Network, Cook
Children’s Healthcare System, Tarrant County, NAS Fort Worth Joint Reserve Base, Fort Worth Independent School
District, Texas Health Harris Methodist Fort Worth Hospital, Alcon Laboratories, City of Fort Worth, Bell Helicopter,
and Genco ATC. Manufacturing and distribution remain an important part of the Fort Worth economy. The list of
companies in distribution and manufacturing operations include Acme Brick, Alcon Labs, Allied Electronics, ATC
Logistics & Electronics, Haggar Clothing, Federal Express, J.C. Penney’s, Mother Parker’s Tea and Coffee, Coca-Cola
Enterprises, Ben E. Keith Co., Miller Coors LLC, Williamson-Dickie, Pratt Industries USA, Inc., NGC Renewables, LLC,
Carolina Beverage Group, LLC, GE Manufacturing Solutions, and Danone North America.

A released economic impact study by The Perryman Group credits oil and natural gas exploration for adding $11.8
billion in gross product per year and more than 107,650 permanent jobs to the North Texas region. Oil and gas
production, driven by the Barnett Shale, has provided a number of economic benefits from exploration, drilling and
related activity. Covering approximately 5,000 square miles and 25 counties the annual tax impact is about $480.6
million to municipalities, counties and other governmental entities, as well as $644.7 million to the state of Texas.
The Barnett Shale has yielded over 15 trillion cubic feet of natural gas with about 18,000 wells in the shale since
2001. That’s 66 percent more than the 9 trillion cubic feet in 2011 and despite only 19 rigs operating in the Barnett
as of September 1, 2014. The study credited almost 40 percent of the region’s incremental growth since 2001 as a
direct result of Barnett Shale activity. Despite tepid pricing for natural gas and the 2018 decision by XTO to
consolidate their Fort Worth offices in new facilities in The Woodlands (Houston area), the energy industry remains
a strong and important segment of the local and regional economy.

The City’s industry clusters remain diverse with trade, transportation, and utilities making up the largest percentage
of the Fort Worth-Arlington Metropolitan Division (MD) industry composition at 37%. Since 2010 trade,
transportation, and utilities companies have grown considerably adding over 22,100 jobs to the area. Healthcare,
Manufacturing, Hospitality and Tourism, Transportation and Warehousing, and Oil and Gas make up the five
established sectors that play a key role in the Fort Worth economy. As a group, these five established sectors account
for more than a third of employment in Tarrant County with over 398,000 people employed. The City’s Economic
Development Department has identified key emerging economic sectors including aerospace manufacturing and
design, life sciences delivery and innovation, geotechnical engineering, international business, corporate and
regional headquarters, professional services, financial services, and transportation innovation.

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