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Dear Texas Economic Development Stakeholders,
We've reached the end of the 88th Regular Legislative Session here in Texas and are headed into the first special session. Meanwhile, our work at Texas Economic Development & Tourism is not slowing down as we remain focused on promoting Texas as a premier destination for business and travel.
We are grateful that the Texas Economic Development & Tourism Sunset bills passed both the House and the Senate. Thanks to Representative Travis Clardy (Dist. 11) and Senator Drew Springer (Dist. 30) for authoring these bills that allow our office to continue to serve you until the next Sunset review in 12 years!
And the Texas job market is not slowing down either! According to the latest job numbers for April, Texas added more jobs than any other state over the last 12 months with a growth rate of 4% (higher than the national rate of 2.6%) and again set three new records for total jobs, Texans working and total labor force—now at more than 14.9 million.
In other good news, we're excited to announce the publication of the 2023-2024 Texas Economic Development Guide! This is an important tool for business attraction and for showcasing the best assets Texas has to offer in regard to business climate, workforce, infrastructure and other competitive advantages. Download the guide for a special interview with Governor Greg Abbot (pg. 22) and read my Q&A on Texas' record-breaking economic success (pg. 36), as well as insights from other state partners throughout the publication.
Please enjoy the June issue of the Texas Business Bulletin where you'll find a focus section on innovation in powering electric vehicles, our economic snapshot, recent project announcements, upcoming and past events and much more! Keep an eye out in the next issue for more information on economic development-related legislative updates.
As always, please be sure to visit our website, follow us on social media or reach out to a member of our team if we can be of any assistance!
 -Adriana Cruz, Executive Director, Texas Economic Development & Tourism
  Unemployment Rate: 4%
Jobs Added in April: 33,300
Job Recovery Rate: 161%
Workforce: 14.96 million
New Application Window Still Open
There are still funds available—get your application in today!
Applications for the Texas Travel Industry Recovery Grant (TTIR) program, administered through EDT's Economic Development Finance Division, remains open for a new application category. The TTIR Program provides reimbursement grants of up to $20,000 for the recovery of Texas businesses in the tourism, travel and hospitality industry that were negatively impacted during the pandemic.
The new category opened applications for additional NAICS codes and also reopened the application process for all previous applicants who may now qualify for funding or for additional funding. See the full listing of eligible NAICS codes at ttir.gov.texas.gov.
This application round will remain open until remaining funds are dispersed. For eligibility and grant application details, deadlines, an application instruction video and the TTIR application portal, click the link below.
Hot off the Press
Texas Economic Development Guide
The 2023-2024 Texas Economic Development Guide is here! Texas draws companies from across the U.S. and around the world with our superior business climate, robust infrastructure and world-class workforce. Learn more about the benefits of doing business in Texas in the latest Texas Economic Development Guide.
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In May, Governor Greg Abbott celebrated the groundbreaking of Tesla's new lithium refining facility in Robstown and presented a proclamation recognizing Tesla's significant investment in South Texas. (Photo Credit: Office of the Governor)
 As a global hub for innovation, it's no surprise that Texas is now leading the charge in developing technologies for powering electric vehicles (EVs). With recent corporate investment in EV supply chains as well as our state's manufacturing expertise and a long-standing emphasis on technological advancement, Texas is a prime location for the development of industries such as lithium refining (a key competent in EV batteries), rare-earth magnet production, battery recycling and other innovative technologies for powering EVs.
A historic investment hit the headlines in May 2023 when Tesla announced plans to build a new state-of-the-art lithium refinery in the South Texas city of Robstown—the first of its kind in North America. The facility will house processing, refining and manufacturing operations and is expected to create $375 million in capital investment and more than 400 new jobs in the region. The refinery will produce enough lithium for batteries to power about 1 million electric vehicles a year and will be incorporated into Tesla batteries all over the world.
In 2022, Texas also became home to a battery recycling facility in McKinney. Wistron GreenTech and Princeton NuEnergy opened a production line to recycle and repurpose a wide range of lithium-ion batteries—including full EV battery packs. The facility will have the ability to process up to 500 tons per year of end-of-life batteries, further strengthening EV supply chains.
Another technology that can be used to create energy and motion in electric motors are magnets. San Marcos-based Noveon has long-standing operations in the Lone Star State and is the only magnet manufacturer in the U.S. that uses rare earth materials and the only global magnet manufacturer that uses recycled materials. In May 2023, Noveon celebrated the grand opening of its new rare-earth magnet production facility in San Marcos (pictured on the left), expected to create more than 100 new jobs and produce approximately 2,000 tons of magnets annually by 2024. EDT's Executive Director Adriana Cruz gave remarks at the celebratory grand opening—the same facility where Governor Abbott gave his 2023 State of the State Address.
Here in Texas, we are building the products of tomorrow and powering the future of innovation, all while aiding in the development of domestic electric vehicle supply chains and infrastructure. We continue to see an influx of interest from battery manufacturers considering new investments in Texas. In fact, our office is tracking nearly 30 active projects related to battery manufacturing or battery storage.
As EV companies also look toward Texas for new or expanded operations (currently there are more than 1,200 electric transportation-related businesses statewide), the doors will open for more EV technology and supply chain manufacturers to grow in the Lone Star State.
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     Texas' success in attracting the most corporate expansion and relocation projects in the U.S. is thanks to a unique combination of competitive business advantages that no other state can claim. For more on these business advantages, visit our Why Texas webpages. Here are some recently announced projects in regions across the state:
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Tesla in Robstown: Tesla announced it plans to build a new state-of-the-art lithium refinery in Robstown, which will create $375 million in capital investment and more than 400 new jobs in the region.
- X-FAB in Lubbock: X-FAB, a semiconductor manufacturer, announced the expansion of their operations in Lubbock, expected to create $200 million in capital investment and up to 250 new jobs.
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Forza Steel in Brownsville: Mexico-based Forza Steel will invest $150 million in a new plant at the Port of Brownsville, creating 140 new jobs.
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FreezPak Logistics and BG Capital in Baytown: FreezPak Logistics and BG Capital are partnering to build a $102 million temperature-controlled warehouse in Baytown, which is scheduled to open in 2024.
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Dura-Line in Lubbock: Dura-Line announced plans to open a conduit manufacturing facility in Lubbock, expected to create 141 new jobs and $52 million in capital investment.
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Creation and LGE Design Build in Dallas: Creation, a real estate development and alternative investment firm, and LGE Design Build, a design-build construction firm, announced the opening of a new $17 million joint headquarters in Dallas.
Upcoming Governor's Small Business Summits
June 15: Governor's Small Business Summit — The Woodlands
The Governor's Small Business Summit — The Woodlands aims to help Texas small business owners and aspiring entrepreneurs reach new heights by connecting them with the resources and information needed to start, strengthen and grow a business. This event offers a variety of sessions bringing together local, state and federal resource partners to provide key insights on critical business topics. It's also an opportunity to network with other business owners and meet experts who will share timely, relevant and actionable advice on a multitude of small business subjects.
Panel Topics:
- Health Management Issues for Small Businesses
- Cybersecurity: Protecting Your Company in a Digital Economy
- Workforce Development: Micro-Credentialing and Certifications
- Access to Finance & Funding
- HUB Certification: How to Make it Work for Your Business
- Marketing & E-Commerce Essentials
Other Upcoming Events
Be sure to check in at gov.texas.gov/events as we continue to announce additional event details, speakers, panelists and webinars for 2023!
Partner Resource Highlight: Upskill Texas Initiative
The Texas Workforce Commission has made up to $5 million available for employers to provide qualified training for current employees through the new Upskill Texas initiative. Employers with 100 or more employees, including publicly funded healthcare employers, or their designee, are invited to apply for funds to identify and deploy qualified training for employees. To be eligible, employees must have worked for the employer for six months or more. For more information regarding this program, visit the Upskill Texas webpage.
The due date of applications for the Upskill Texas Initiative Grant is June 5.
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2023 SelectUSA Investment Summit
 EDT attended the 2023 SelectUSA Investment Summit in National Harbor, Maryland. In partnership with Team Texas, the Texas Economic Development Corporation, and many Texas community partners, we helped promote Texas as a premier location for foreign direct investment through meetings with foreign companies and officials as well as site selectors and international business groups. Did you know? Texas currently ranks as the #1 destination in the U.S. for foreign direct investment over the last 20 years!
 Governor's Small Business Summit — Temple
 The 2023 Governor's Small Business Summits kicked off in Temple in May. The Governor's Office of Small Business Assistance, in partnership with the Temple Chamber of Commerce and Texas Workforce Commission, brought together experts to provide insight on a multitude of small business topics for entrepreneurs and small business owners in Central Texas. The event's exceptional line-up of speakers and topics drew more than 200 registrants. The event featured a keynote address by Drayton McLane Jr., Chairman of the McLane Group, and guest speaker, Texas Workforce Commissioner Representing Employers Aaron Demerson.
Meeting with Aichi Prefecture Governor Ohmura
 In May, Governor Greg Abbott met with Governor Ohmura of Aichi Prefecture, Japan to discuss the benefits of continued economic and cultural partnership between Aichi Prefecture and Texas. The economic ties between Texas and Aichi are strong, with a number of shared industries between our two economies: automotive manufacturing, aerospace and aviation, life sciences and energy. Texas is also home to operations for Aichi companies such as Toyota's North American Headquarters, Mitsubishi Aircraft Corporation, Aisin AW and others. Governor Abbott and Governor Ohmura also discussed developing further collaboration between Aichi and Texas to advance global cancer research, medical care and treatment.
 Business Development Mission to New York & New Jersey
 Photo Credit: Texas Economic Development Corporation
In May, the Texas Economic Development Corporation, along with EDT and a delegation of Texas communities, completed a successful Business Development Mission to New York and New Jersey. The group met with local site selectors and companies to promote the unique competitive business advantages Texas has to offer. The Texas delegation included Lubbock Economic Development Alliance, greater:SATX, Temple Economic Development Corporation, Dallas Regional Chamber, City of Dallas, Greater Waco Chamber of Commerce, Greater Irving-Las Colinas Chamber of Commerce, Borderplex Alliance and Greater San Marcos Partnership. The group is pictured at Grand Central Station above.
Texas Triangle Trade Mission from Panama
 Adriana Cruz, EDT's Executive Director, attended the Texas Triangle Trade Mission from Panama in May, hosted by the Texas Association of Business. Adriana connected with Ambassador Carmen Vergara of Panama, who now leads their Trade Office, former Ambassador Juan Sosa, who is also the Dean Emeritus of the Foreign Consular Corps in Texas, and Consul General of Panama Jaime Sosa. Adriana spoke to the group about the strong and growing business partnerships between Texas and Panama.
Korea Semiconductor Global Partnering Center Grand Opening & KOTRA Statement of Mutual Cooperation
 KOTRA celebrated the grand opening of its new Korea Semiconductor Global Partnering Center in Austin, joined by EDT Executive Director Adriana Cruz, Consul General of the Republic of Korea and other representatives from KOTRA. This new center will help Korean companies considering U.S. expansion explore setting up operations in Texas—one of the key semiconductor markets in the world. EDT looks forward to continuing to work together with KOTRA and other Korean organizations to further strengthen the economic ties between the two markets!
Cuero Economic Summit
 In May, EDT's Executive Director Adriana Cruz served as the keynote speaker for the inaugural Cuero Economic Summit, hosted by the Cuero Economic Corporation. Adriana provided an update on economic development in the region and across Texas. Congratulations to the community of Cuero on their 150th birthday celebration and we look forward to many more years of partnership!
Governor's Small Business Summit — Abilene
 On May 18, the Governor's Small Business Summit — Abilene brought together local, regional and statewide speakers and resource providers to help area entrepreneurs start and grow their business. The event offered panel sessions on topics such as access to finance and funding, recruiting and retention of employees and marketing and e-commerce essentials. Texas Workforce Commissioner Representing Labor Alberto Treviño offered the keynote address to more than 100 attendees from the region.
Meeting with Former Prime Minister of the UK Boris Johnson
 Governor Greg Abbott was joined by Secretary of State Jane Nelson and EDT's Executive Director Adriana Cruz for a meeting with former Prime Minister of the UK Boris Johnson to discuss greater collaboration on trade and investment between Texas and the UK. Shared industries between the UK and Texas include aerospace and aviation, electronics, energy, financial services, health care, information technology, life sciences, pharmaceuticals, professional services and transportation. Did you know? The UK is the top source for number of foreign direct investment projects in Texas between 2015 and 2022.
2023 IPW Conference
San Antonio was the host city for the 2023 IPW Conference—a global travel industry event with more than 5,000 travel professionals from 60 different countries. Bringing this event back to Texas after more than 20 years, the Travel Texas team was able to showcase all that our great state has to offer in terms of bold adventures and big entertainment. Travel Texas hosted a Texas-sized closing of the conference, with a “Let’s Texas” event on the historic Alamo grounds. Attendees sampled Texas hospitality with diverse experiences found across the Lone Star State through activations, live music and Texas food provided by 18 community sponsors.
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 “It ain’t bragging if it's true!” Here are some of the recent accolades Texas has received:
- Seven Texas cities ranked in the top 30 best large cities in the U.S. to start a business, according to WalletHub: Fort Worth (#9) Austin (#10), Arlington (#19), Dallas (#20), Lubbock (#21), Irving (#26) and Laredo (#29).
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Penske's latest annual "Top Moving Destinations" report ranks Houston the top moving destination in the U.S., followed by Dallas (#7), San Antonio (#9) and Austin (#10).
- The 2023 Best Places for New College Grads, according to SmartAsset, includes: Lubbock (#1), Waco (#7) and Amarillo (#9).
- Texas dominated the list of Fastest-Growing Large Cities in the U.S. (July 2021-July 2022), according to the U.S. Census Bureau: Georgetown (#1), Kyle (#2), Leander (#4), Little Elm (#5), Conroe (#11) and New Braunfels (#15).
The U.S. Department of the Treasury has approved Texas' application for funding through the State Small Business Credit Initiative (SSBCI). Texas has the potential to receive more than $472 million to operate two programs—a capital access program (CAP) and a loan guarantee program (LGP)—that will increase access to capital for Texas small businesses. The CAP, allocated $118 million, will provide portfolio insurance for business loans, and the LGP, allocated $354.1 million, will provide loan guarantees. Together, the CAP and LGP will constitute the Texas Small Business Credit Initiative (TSBCI) program.
TSBCI will assist small business growth and create new jobs in Texas through increased access to small business funding. TSBCI is administered by EDT's Economic Development Finance Division, within the Office of the Governor, on behalf of the U.S. Department of the Treasury.
For more information about the federal SSBCI program, please visit the U.S. Department of the Treasury’s website. Additional guidance, forms and other resources related to Texas' TSBCI program will be posted at the program website as details become available. You may also sign up for updates to be notified as soon as our office has new information on the program.
 Interested in working with the best state economic development team in the country and helping grow the Lone Star State's economy? Come join our team! There are multiple positions for experienced professionals in Economic Development Finance (EDF) and other divisions. Here's a select sampling of open positions:
For more information on available positions, visit gov.texas.gov/employment.
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