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).
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.
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).