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

  • 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.
  • Monday, April 28, 2014 • Austin, Texas • Press Release
    Gov. Perry Announces Toyota Moving North American Headquarters to Plano, Generating 4,000 Jobs
    Gov. Rick Perry today announced Toyota Motor North America is relocating its headquarters to Plano. The more than $300 million capital investment is expected to employ nearly 4,000 people upon completion, and compliments the company's existing Texas operations. In exchange for Toyota's commitment to create these new jobs and capital investment in Texas, the state has offered Toyota an investment of $40 million through the Texas Enterprise Fund.
  • Monday, April 28, 2014 • Austin, Texas • Noteworthy
    We Built A Stronger Texas
    When it comes to building a thriving economy that benefits citizens across the board, Texas has taken an approach that is as simple as it is revolutionary: put people – employers and employees alike – in the best possible position to succeed, and then get out of the way.
  • Monday, April 21, 2014 • Austin, Texas • Press Release
    Gov. Perry to Meet with Business Leaders in New York City
    Gov. Rick Perry will take Texas’ message of low taxes, smart regulations and job creation to businesses in New York City from April 22-24. The governor will meet with employers and participate in a reception hosted by TexasOne to discuss the opportunities and freedom available to families and businesses thanks to Texas’ healthy economy.
  • Thursday, April 03, 2014 • Katy, Texas • Speech
    Gov. Perry Remarks at GEICO Ribbon-Cutting
    When you boil it right down, what people want most in the world is a chance at prosperity. They want a good job, an ability to take care of their families and the potential to do more with their lives. For every company like GEICO that chooses to expand, or relocate, in our state, that means more Texans getting the opportunities they need to achieve their goals.