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

  • Friday, May 16, 2014 • Austin, Texas • Press Release
    Gov. Perry Announces TETF Investment in Innovative Wound Healing Technology
    Gov. Rick Perry today announced the Texas Emerging Technology Fund (TETF) is awarding $2 million to Alafair Biosciences Inc. for the commercialization of its internal wound healing devices. Alafair has licensed and developed the patented technology with the University of Texas at Austin.
  • Tuesday, May 13, 2014 • Arlington, Texas • Press Release
    Gov. Perry Celebrates 60th Anniversary of Arlington GM Plant
    Gov. Rick Perry today helped celebrate the 60th anniversary of General Motors’ Arlington Assembly Plant, highlighting the important role the plant has played in the community and the economic climate that has allowed Texas to be the nation’s job creation engine.
  • Friday, May 09, 2014 • Austin, Texas • Press Release
    ICYMI: Texas Named Best State for Business 10 Years Running and Toyota Says Thanks
    "Since we announced plans to establish our new North American headquarters in Plano, all of us at Toyota have been humbled by the show of support we've received from customers, dealers, elected officials and community leaders across the Lone Star State," says Jim Lentz, Chief Executive of Toyota N. America In Dallas Morning News
  • Wednesday, April 30, 2014 • Austin, Texas • Press Release
    What They're Saying About Toyota's Move to Plano, Texas
    "Toyota understands that Texas’ employer-friendly combination of low taxes, fair courts, smart regulations and world-class workforce can help businesses of any size succeed and thrive. We’re proud that both the Tundra and Tacoma bear the words ‘Made in Texas,’ and we’re excited our state will be the nexus for Toyota’s North American operations moving forward." - Governor Perry
  • Tuesday, April 29, 2014 • Austin, Texas • Press Release
    Gov. Perry Announces TEF Investment Creating 300 Jobs in El Paso
    Gov. Rick Perry today announced Prudential Financial Inc. will create 300 jobs at a new facility in El Paso, with a focus on hiring veterans and their family members. The company is receiving a $1.15 million investment from the Texas Enterprise Fund to close the deal on this job creation and multimillion dollar investment. Execution of the state's agreement is contingent upon finalization of a local incentive offer as required by program criteria.