I was recently asked by the House Select Committee on Economic Competitiveness to offer a perspective on some of the issues affecting Texas' future performance. The Committee's purpose in the hearing was to address "principles that... should guide the state's pursuit of long-term economic growth." I am pleased that members of the legislature are thinking in these terms, as it is essential to long-term prosperity.
Legislative noise has been heard in Austin about eliminating the Texas Enterprise Fund, a key aspect of the state's economic development incentives. The Governor has asked that it be retained. Let me be very clear: scrapping this "deal closing" fund would be a major blow to the state's future competitiveness, with the potential for major fallout over time. It would be like killing the goose that has been laying golden eggs (the same is true for the incentives for film and television productions in Texas, but that is a topic for another time).