As many of you are probably aware, this past week Governor Rick Perry created a Task Force for Economic Growth. I was privileged to be named to the 29-member group chaired by Ross Perot, Jr. Given the distinguished resumes of the other members, I suspect my role is one of comic relief.
Our goal is to develop recommendations for the Governor’s consideration that will significantly enhance the economic growth and development of the Lone Star State. This charge is a formidable one, but certainly one worthy of the efforts that will be put forth to accomplish it.
Over the next several months, the Task Force will be holding open meetings around the state to solicit ideas and suggestions regarding the most effective means of recruiting new businesses to the state and fostering and promoting free competitive enterprise. We will also examine procedures that could be employed to help diversify Texas’ employment base and develop high wage job opportunities. Furthermore, the Task Force will be considering various ways to maintain employment, production, and purchasing power.
There are, of course, several state and local entities already studying similar aspects of our economic development, including the challenges of attracting new businesses and improving workforce training. They will continue their work, and their findings will definitely be helpful as we seek to develop a vision for long-term sustainable economic growth for the entire state.
In addition to reviewing what these groups are discovering, the Task Force will examine the state’s total economic environment, from the educational infrastructure and business milieu to the litigation climate. We will also give consideration to how these issues are being addressed by various national organizations, as well as by neighboring states and Mexico.
Texas has enjoyed an unprecedented period of economic prosperity over the past several years, and our state has led the US in net job creation. During this period, significant emphasis has been given to improving educational opportunities and creating a foundation that will be conducive to building a strong economy.
Because of the leadership provided by independent entrepreneurs and business leaders, within both public and private sectors, the Texas economy has become more diversified and dynamic. As a result, major difficulties faced by one industry no longer dramatically affect the total economy of the state.
I am convinced that Texas and the US are now looking upward as we gaze at tomorrow’s economic picture. Within a few months, evidence of the upswing will be manifested across the state, although some sectors will see the results later than others.
Economic prosperity stems from “thinking outside the box” in an effort to enrich the lives of our citizenry. Competition for new business is intense and global; any successful area must be constantly ahead of the curve. Attractive regions reflect a multi-faceted combination of factors—workforce, tax climate, location, costs, resource availability, transportation, and quality-of-life, to name but a few.
The Task Force for Economic Growth is a much-needed initiative at this time. Even a prosperous and diverse economy is not exempt from global events, crises, and the ebb and flow of markets. Hardships and dislocations occur even in the midst of overall business expansion. Channeling the creative energies of a group of successful leaders into this task of looking ahead and being prepared can’t help but pay handsome dividends.
The next few months can make a difference in the economic future of the Lone Star State. I look forward to joining such a distinguished group of individuals as we seek to prepare Texas for long-term economic advancement and expansion.