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

  • Thursday, January 02, 2014 • Austin, Texas • Press Release
    In Case You Missed It: Magpul Industries to Move Headquarters to Texas
    Firearm accessories manufacturer Magpul Industries has announced it is relocating its corporate headquarters from Colorado to Texas. Magpul began a nationwide relocation search following the passage of anti-Second Amendment legislation in Colorado this summer that made it difficult for the company to do business.
  • Friday, December 20, 2013 • Austin, Texas • Press Release
    Gov. Perry: Texas Epicenter for Job Creation
    What all these great unemployment statistics really add up to, our lowest unemployment rate in nearly five years, a declining unemployment rate for four consecutive months and more than a quarter-million jobs added since this time last year, is that Texas is creating jobs and opportunity. Whether it's the steadily dropping unemployment rate or recent estimates that Texas will have billions left on hand at the end of the current biennium, the news continues to demonstrate that the Texas way of low taxes and individual freedom works. We've been the national epicenter for all kinds of job creation for over a decade, and all indications are that won't change anytime soon.
  • Tuesday, December 10, 2013 • Austin, Texas • Press Release
    In Case You Missed It: Milken Institute Names Texas Cities Best Performing in 2013
    The Milken Institute has named Austin the best performing city in its annual ranking of metropolitan areas, and recognized Dallas and Houston in the top 10. Seven of the report’s top 25 best-performing cities in 2013 are in Texas.
  • Tuesday, December 10, 2013 • Austin, Texas • Press Release
    Gov. Perry Announces TETF Investment in Innovative Spinal Disorder Treatment
    Gov. Rick Perry has announced the Texas Emerging Technology Fund (TETF) is investing $1.75 million in Minimus Spine Inc. to support its non-surgical lumbar disc herniation technology. The company is working with Texas A&M University to develop and commercialize this technology.
  • Monday, December 02, 2013 • Katy, Texas • Press Release
    Gov. Perry Announces GEICO Expansion, Creating 1,000 Jobs in Katy
    Gov. Rick Perry today joined GEICO chairman and CEO Tony Nicely to announce the company will be expanding its Katy operations, creating 1,000 new jobs over the next three years and $8.5 million in capital investment.