DART Light Rail Boosts $18.1B Economic Impact, North Texas Growth

Introduction

Over the past 25 years, development near Dallas Area Rapid Transit’s (DART) light-rail stations has produced an $18.1 billion direct economic impact in North Texas, as reported by the University of North Texas Economic Research Group. Additionally, transit-oriented development (TOD) projects near DART stations between 2022 and 2024 have generated substantial tax revenue.

Main Content

Economic Impact of DART Development

The University of North Texas Economic Research Group’s study indicates that the economic impact stemming from development near DART light-rail stations has reached $18.1 billion over the past quarter-century. This figure represents the direct economic benefits realized by North Texas due to this development.

Tax Revenue from TOD (2022-2024)

Between 2022 and 2024, the construction of transit-oriented development (TOD) projects situated within a quarter-mile of DART stations yielded $51.5 million in state and local tax revenue. This revenue stream is a direct result of these TOD initiatives.

Property and Other Tax Revenues (2022-2024)

In the same period, TOD projects generated $21.1 million in property taxes. Moreover, these projects contributed an additional $5 million in other state and local revenue.

DART’s Perspective

DART CEO and President Nadine Lee emphasized the broad economic implications of DART’s role, stating, “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. Every dollar generated by and within development around our light rail stations has the ability improve our cities, provide economic mobility and stability to our residents and grow opportunity for North Texas.”

Conclusion

The study highlights significant economic benefits associated with development around DART’s light-rail stations, including substantial direct economic impact and considerable tax revenue generated by transit-oriented development between 2022 and 2024.

Company Summary

Dallas Area Rapid Transit (DART): DART operates a light-rail system, and development near its stations has generated significant economic impact.

University of North Texas Economic Research Group: This group conducted the study that assessed the economic impact of development near DART stations.