Office of the Governor Rick Perry

Governor's Initiatives - Economic Development

Texas has cultivated a business climate second to none, earning honors from national news outlets like Forbes and MSNBC for economic strength and business-friendly policies. More importantly, Texas has been consistently attracting employers seeking a better place to start or expand their businesses.

The Lone Star State's combination of low taxes, reasonable and predictable regulatory structure and fair court system provides a stable base upon which to build the Texas economy, while the state's diverse and hard-working workforce is prepared to meet any need an employer can present.

At Gov. Perry's urging, the Legislature has established and consistently funded two additional tools to attract and create Texas jobs - the Texas Enterprise Fund (TEF) and Emerging Technology Fund (ETF). The TEF functions as a "deal closing" fund, enabling Texas to compete directly with incentives offered elsewhere in the country, its investments tied directly to job creation. Meanwhile, the ETF helps early-stage tech companies grow their ideas from the laboratory into the marketplace, in the process helping keep Texas at the forefront of new technologies.

Action Items

»  Gov. Perry signed legislation for Lawsuit Reform, with components of Loser Pays (HB 274), which strengthens the jobs-friendly climate here in Texas.
»  Texas continues to buck the national unemployment trend, by adding 262,000 jobs from June 2009 to 2011. (USA Today)
»  Texas moved past New York over the past decade to become the nation's second-largest economy. (USA Today - June 2011)
»  Texas dominate’s Kiplinger’s Cities with the Lowest Cost of Living list in 2011. (Kiplinger)
»  The Lone Star Jobs Surge: The Texas model added 37% of all net U.S. jobs since the recovery began. (Wall Street Journal - June 2011)

News & Announcements

  • Monday, August 04, 2014 • Austin, Texas • Press Release
    Gov. Perry Announces State Incentives Bringing SpaceX Commercial Launch Facility, 300 Jobs to the Brownsville Area
    CRS-3 Falcon 9 Liftoff (Photo Courtesy SpaceX)
    SpaceX designs, manufactures and launches advanced rockets and spacecraft, and is the world's fastest-growing provider of launch services. It is the only private company ever to return a spacecraft from low-Earth orbit, which it first accomplished in December 2010. SpaceX is also the first private company to attach a spacecraft to the International Space Station, exchange cargo payloads, and return safely to Earth - a technically challenging feat previously only accomplished by government space programs. SpaceX operates a Rocket Development Facility in McGregor, Texas which has grown to over 250 employees since starting operations in 2003. The Brownsville facility will launch commercial satellites.
  • Tuesday, July 29, 2014 • Austin, Texas • Press Release
    ICYMI: TETF Awardee Visualase Acquired by Medtronic
    Medtronic Inc. today announced it has completed the acquisition of Texas Emerging Technology Fund (TETF) awardee Visualase Inc. The TETF invested $750,000 in Visualase in 2007 for the development and marketing of a range of innovative minimally invasive neurosurgery products.
  • Thursday, July 24, 2014 • Austin, Texas • Press Release
    Gov. Perry Announces TEF Investments Bringing New Charles Schwab Facility to El Paso and Deepening Company’s Roots in Austin
    Gov. Rick Perry has announced two Texas Enterprise Fund (TEF) investments in The Charles Schwab Corporation, which is opening a new operations center in El Paso and strengthening its presence in Austin. Combined, the projects will create more than 1,200 jobs and more than $230 million in capital investment in the state.
  • Friday, July 18, 2014 • Austin, Texas • Press Release
    Gov. Perry Announces TEF Investment for Omnitracs Headquarters Relocation
    Gov. Rick Perry has announced a Texas Enterprise Fund (TEF) investment of $3.9 million in Omnitracs LLC, which is relocating its headquarters from San Diego, California to Dallas, creating 450 jobs and $10 million in capital investment.
  • Tuesday, July 08, 2014 • Austin, Texas • Press Release
    Gov. Perry Announces TEF Investment to Help Schneider Electric Expand and Add Jobs in El Paso
    Governor Rick Perry has announced a Texas Enterprise Fund (TEF) investment of $750,000 in Schneider Electric for the expansion of its operations in El Paso, creating 193 new jobs and $7 million in capital investment. Execution of the state's agreement is contingent upon finalization of a local incentive offer as required by program criteria.