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

  • Wednesday, June 04, 2014 • Austin, Texas • Noteworthy
    Texas Features a High Quantity of High Quality Jobs
    Nearly a third of all the jobs created in America over the last 10 years have been created in Texas. That’s a tough fact to deal with for those who argue against the fiscally conservative policies that have powered our growth over that span. Since they can’t argue with the quantity of jobs created, they try to take shots at the quality of the jobs created.
  • Tuesday, June 03, 2014 • Austin, Texas • Press Release
    In Case You Missed It: Texas Tops Fortune 1000 List
    Texas is home to 103 Fortune 1000 companies - more than any other state - in addition to 52 Fortune 500 companies, according to Fortune Magazine's 2014 rankings.
  • Thursday, May 29, 2014 • Austin, Texas • Noteworthy
    Tort Reform Means More Doctors for Texans
    Texas faced a major turning point in 2003, one that could have seriously jeopardized the economic successes our state has enjoyed over the past decade. The skyrocketing cost of malpractice insurance - driven ever higher by the mounting costs of litigation and staggering awards in non-economic damages sought by unscrupulous lawyers - was driving many doctors out of business, or causing them to flee to less litigious places.
  • 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.