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, August 12, 2004 • Press Release
    Perry Says Texas Economy Bolstered by Economic Development Efforts
    VICTORIA - Gov. Rick Perry today told regional business leaders at the Golden Crescent Regional Economic Development Summit that Texas is a leader in the nation’s economic recovery and continued efforts to recruit and retain business will continue to pay off across the state.
  • Wednesday, August 11, 2004 • Speech
    Gov. Rick Perry's Remarks At The Golden Crescent Regional Economic Development Summit
  • Thursday, August 05, 2004 • Editorial
    One Year Later, Job Creation Initiative Showing Tremendous Results
    ust a few years ago, as other states were implementing new, aggressive strategies to foster economic development, Texas was resting on its laurels. We had the attitude that jobs will come our way because of our business climate, while other states aggressively courted new employers and started attracting projects with the right mixture of incentives. We were fighting with one hand tied because we had a shortage of effective tools to bring jobs and employers to the state. And while no one seemed to notice this shortfall during the tech boom of the 1990’s, it became readily apparent during the tough economic times that soon followed. That’s why last year I worked with Lt. Governor David Dewhurst and House Speaker Tom Craddick to create the Texas Enterprise Fund, a job creation initiative that is bringing thousands of new jobs to communities across the state.
  • Monday, August 02, 2004 • Speech
    Gov. Rick Perry's Remarks At Koyo Steering Systems Jobs Announcement
  • Monday, August 02, 2004 • Press Release
    Perry Announces Koyo Steering Systems to Expand in Ennis
    ENNIS – Gov. Rick Perry today announced that Koyo Steering Systems NA, Inc., of Japan will expand its United States operations to a 40 acre site in Ennis, creating 200 new jobs. Koyo manufactures ball and roller bearings and automotive steering systems.