Gov. Perry Celebrates Samsung's $3.6 Billion Investment in the Austin Community

Thank you Barry Mayer for that introduction as well as for everything you and this chamber have done to promote business in our capital city.

When publications like Forbes single out Austin as the top city leading the nation out of recession groups like the Greater Austin Chamber can take prudent considering all you do to sing this town’s praises.

Fact is, we have a lot to crow about, considering the relative strength of our economy.
 
I tell people the starting point of our success is Texans: the people who buckle down and do the work it takes to build and sustain a business.

I continue with the fact that our folks are succeeding in a job friendly environment we’ve worked very hard to cultivate with our combination of low taxes and low government spending our predictable regulations a reformed legal system and increasingly accountable public schools.

I also give credit to economic development organizations like the Greater Austin Chamber and the way you boldly start conversations with strangers and open their eyes to all that your city and state have to offer.

Given the serious problems in the national and global economy the positive aspects of our economy really stand out.
 
While joblessness continues to dog the American recovery Texas employers have added more than 168,000 jobs since the start of the year with more than 16,000 in June and July alone.

From July ’09 to last month, the Austin metro area added more jobs than 42 U.S. states did.

That is a very big deal, especially to those folks who started the year unemployed and are drawing a paycheck now.

Our success also inspires employers in other states seeking relief from the growing tax burdens and increasing government interference that are increasingly common elsewhere.

Companies like Samsung that have already figured out the “Texas advantage” are investing more and creating jobs too.

It was a real honor to meet with Samsung’s leadership during my recent trip to Asia with a trade delegation that included Barry Mayer and David Porter.

We were warmly welcomed by their COO, Jay Y. Lee and CEO Geesung Choi.

Having Woosung Han from Samsung’s Austin team there really brought things full circle for us as we reflected on the success of their Texas operations.

In truth, a company with leadership like that and the cutting edge scientists they employ is a great fit with the high tech community here in Austin.

Samsung’s plan to invest $3.6 billion in an expansion of their plant here in Austin will directly create another 500 high paying jobs.

Decisions like that are further proof we’re on the right track reaping the benefits of years of policy decisions that are job friendly and fiscally disciplined.

You all might remember the $10 billion deficit our state faced at the start of the legislative session back in 2003.

Rather than jack up taxes, we took the same approach you’d take if your business had a shortfall we drew a line between wants and needs then cut spending.

We won’t hesitate to take that approach again.

We also took aim at the frivolous lawsuits hindering job growth and reducing the availability of medical care across Texas by passing serious tort reform.

We’ve made prudent investments in job creating efforts like the Texas Enterprise Fund which has invested nearly $408 million helped create more than 53,600 jobs for Texans and brought in $14.4 billion in capital investment since it began. That includes a $10.8 million investment we made in 2006 to encourage Samsung’s previous expansion in Austin.

The TEF forms a one-two punch with the Texas Emerging Technology Fund which has invested more than $159 million in early stage companies throughout Texas and leveraged an additional $161 million in university and industry investments.

Our efforts have Texas on a strong run but our work is far from done.

My trip to Asia affirmed a long held belief of mine that our primary competition is no longer other states it’s other countries.

So we must work even harder to prepare our children to compete in the global workplace by ensuring young Texans graduate from our high schools career and college ready no matter what their economic status.

Thanks to a concerted effort we’ve made in conjunction with legislators, the TEA, teachers groups, parents and local districts we have a very strong story to tell when it comes to education.

For example, Texas was recognized as one of only four states closing the achievement gap in math.

On the Advanced Placement test, student participation is up 170% over the last nine years and the number of passing scores went up 140%.

Texas has one of the highest overall numbers of students taking the SAT in the nation with more first generation college students taking the exam than the national average.

In addition, the number of Hispanic students taking the SAT has grown by nearly 105% since 1999.

Because we’re Texans, we won’t rest on our laurels because success only makes us work harder to make our schools even better.

That’s why, late last year, I called on the Legislature to double the number of our STEM academies so that even more Texas students are getting the science, technology, math and engineering skills they need to succeed in those high-tech jobs our economy is creating.

Last week, I announced the launch of Texas Education on iTunes U which helps keep teachers and students engaged and informed with free, supplemental educational content accessible from anywhere. 

I’ve also proposed expanding the Texas Virtual School Network with the creation of a Texas Virtual High School.

This approach will build upon existing technology to enable students to complete their education using accredited curriculum from any computer with an Internet connection.

With the help of the 82nd Legislature we can keep up the education innovations as we prepare young Texans to take their rightful place in our workforce.

I’ve told many employers across the country and around the world that the best part of living in Texas is having Texans for neighbors.

Based on the jobs Samsung has created and their investments in the Manor School district this company has proven it is a very good neighbor that we look forward to having around for years to come.

As I look out across this room today, I can’t tell you how encouraged I am by the state of affairs in Austin and across Texas.

For the folks in the Austin Chamber, know that I am grateful to you for the investment you make in the community and your efforts to build relationships that create jobs.

Your efforts are proof positive that Texas has what it takes to compete and continue to lead the nation in the things that matter.

Now, it is my honor and privilege to introduce to you a gentleman who has remained focused on the truly important things during his rise through the ranks at Samsung.

For 25 years, he has devoted himself to Samsung’s semiconductor business helping to pioneer advances in technology and moving Samsung to the head of their industry.

We are proud to call his company neighbor and honored to have him with us today.

Please join me in welcoming the President of the Semiconductor Business of Samsung Electronics Company  Dr. Oh-Hyun Kwon.