Texas has been one of the strongest performing states in the US for a number of years, attracting more major corporate locations and expansions than any other and regularly topping lists of the best places to do business. As examples, the state has won the "Governor's Cup" for the most major projects for the past eight consecutive years and was recently named the "State of the Decade" by Site Selection magazine.
In a remarkable odyssey of almost two centuries, a rugged and remote frontier outpost named for one of its many native tribes has been transformed into a major center of high technology and international commerce. From cattle to cotton to oil to electronics, Texas has repeatedly reoriented its business complex to meet evolving needs and circumstances. Even given the Lone Star State's remarkable capacity to adjust, the current period is one of unprecedented challenges (and opportunities).
Dr. Perryman presents the findings from The Perryman Group's recent study detailing the economic impact of the Permian Basin petroleum sector on activity on the Midland Area. Priority Midland is a forum for the community to work together, meeting Midland's challenges head-on, for more information visit their website.
Dr. Ray Perryman discusses the economic outlook of Midland, Texas and the Permian Basin, and describes how Priority Midland is an essential component of sustainable economic growth in the region. For more information, visit Priority Midland.
Dr. Ray Perryman, founder and President of The Perryman Group, has been selected to receive the Chairman's Award for Lifetime Achievement in Economic Development from the International Economic Development Council (IEDC). The award is being given in recognition of Dr. Perryman's decades-long commitment to economic development and providing the information corporations and communities need to optimize location decisions.
Dr. Perryman describes how Texas stays competetive in attracting new businesses and other measures of economic development.
Site Selection Magazine is out with its annual governor's cup award for economic development, and Dr. Perryman says Texas has won for the fifth consecutive year.
As the budget battles heat up in the legislature, Governor Abbott is asking that the Texas Enterprise Fund be renewed. Dr. Perryman hopes it is successful.
Over 20 years ago, the Texas Legislature passed the Texas Economic Development Act, which allows school districts to offer tax incentives for businesses that invest in their communities. The Act, commonly called "Chapter 313" because of its position in the Texas Tax Code, fundamentally improved the economic development landscape. Chapter 313 has been extended several times but is now set to expire December 31, 2022.
Competition to attract corporate locations, particularly high-profile locations, is typically intense, and decades of evidence has shown that communities must be proactive and innovative to increase their chances of success. Economic development programs can enhance opportunities and prosperity, but given the reality of scarce resources, communities must be efficient and analytical in their efforts. We recently produced a report, in conjunction with the Texas Economic Development Council, which is a framework for thinking about economic development (available free at www.perrymangroup.com). Here's a quick look at a few key points.