Northlake becomes a hub for industrial parks
The retail world has changed dramatically in the years since the pandemic ended and the term “supply chain issues” entered the lexicon as the reason for shortages and higher prices.
“Whether consumers buy online or at the store, retailers need to have three to six months of goods on hand closer to the population centers because they can’t get products through the ports fast enough to catch up from the pandemic,” said Northlake Mayor David Rettig.
The retail world’s answer to the “philosophical” change in supply chains is evident when you drive down Interstate 35W through Northlake where dozens of expansive industrial parks are being built.
The competition for these industrial parks is fierce, so it’s up to David and the town’s staff to work with developers, potential tenants and companies to put their best foot forward.
That includes being able to offer reliable electricity from CoServ.
“We often lead with the lowest tax rate because we’re a good 50 percent below where Fort Worth is,” David said. “We bring the entire package, and your electricity is about as cheap as it gets.”
David also touts CoServ’s reliability.
“We survived the winter storm better than most and our power was on more and more often than most surrounding communities,” David said.
CoServ takes pride in building reliable infrastructure to serve our Members, as evident by our 99.994 percent reliability in 2022. (See the March issue of Texas Co-op Power for more.)
“We hear from all tenants that reliable electricity is definitely important,” said Nathan Reddin, Development Director for Northlake.
Northlake already has 4 million square feet of industrial park space with another 3 million square feet under construction or being marketed. Ultimately, the town could have 10-to-15 million square feet developed. Most of them are being built as “spec,” or speculative, because there’s enough demand that a tenant will be found before construction is completed.
David said these industrial parks are a great addition to the tax base because they reduce the burden on homeowners.
“You have to look at every type of zoning and each one as a certain tax yield and a level of expense,” David said. “Warehouses and commercial development in general are one of the highest contributing tax bases that you can have. They really don’t require a lot of municipal services.”
CoServ is proud to power the economic engines in North Texas, including the industrial parks that store, manufacture or deliver goods to stores and homes in North Texas.