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, February 14, 2014 • Austin, Texas • Press Release
    Statement by Gov. Perry on Occidental Petroleum Relocating Headquarters to Texas
    Occidental Petroleum is the largest oil producer in Texas and one of the largest in the nation, so it seems only fitting the company would locate its headquarters in Houston, the Energy Capital of the World,” Gov. Perry said. “Oxy ranks 125 on the Fortune 500 list, and the company’s move is further evidence Texas has built the most dynamic, pro-growth economy in the nation.
  • Thursday, February 06, 2014 • Austin, Texas • Press Release
    Gov. Perry Announces Two TEF Investments Creating 615 New Jobs in Austin
    Gov. Rick Perry today announced investments in Websense Inc. and Dropbox Inc. through the Texas Enterprise Fund (TEF) that will create a total of 615 new jobs in Austin. Execution of the state's agreements with each company is contingent upon finalization of local incentive offers as required by program criteria.
  • Wednesday, February 05, 2014 • Austin, Texas • Press Release
    Gov. Perry Announces TETF Grant for DARPA Robotics Challenge
    Gov. Rick Perry has announced the Texas Emerging Technology Fund (TETF) has awarded a $1.5 million grant to support the University of Texas’ (UT) and Texas A&M University’s (TAMU) participation in the Defense Advanced Research Projects Agency (DARPA) Robotics Challenge (DRC).
  • Monday, February 03, 2014 • Austin, Texas • Editorial
    Talking Texas In Switzerland
    Today, no discussion of the world’s economy or economic future is truly complete without including the State of Texas. That’s a point I made last week as I met with global leaders in business and government at the World Economic Forum in Davos, Switzerland. If I made nothing else clear, it’s that Texas has emerged as a critical figure on the world stage.
  • Friday, January 31, 2014 • Austin, Texas • Press Release
    Statement by Gov. Perry on State Department’s Keystone Pipeline Study
    Gov. Rick Perry today issued the following statement regarding the U.S. State Department's environmental impact study on the Keystone XL pipeline.