Important announcements, resources, events & recent news.



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Dear Texas Economic Development Stakeholders,

Happy New Year from the Texas Economic Development & Tourism Office (EDT)! We hope your 2025 is off to a great start and that you are staying safe and warm this January. We are looking forward to a busy and productive year ahead and the upcoming 89th Legislative Session as we continue to work with all of our partners across the state to promote Texas as the premier business and travel destination. 

In this issue of the Texas Business Bulletin, you'll find a Q&A with Executive Director Adriana Cruz, an update on our office's programs, our economic snapshot, recent meetings and upcoming events, as well as project announcements across the state. 

As always, please be sure to visit our website [ [link removed] ], follow us on social media or reach out to a member of our team [ [link removed] ] if we can be of any assistance.

Thanks for all you do on behalf of the great state of Texas!

"-Adriana Cruz and the EDT"" Team"

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*Unemployment Rate: *4.2%

*Workforce:* 15.5 million

*Jobs Added November 2023 - November 2024:* 274,300 

See full economic snapshot › [ [link removed] ]
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*Looking Ahead: The Future is Texas*

*"Q&A with EDT Executive Director Adriana Cruz"*

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*Q: Building upon Texas’ highly successful track record in economic development, what successes do you foresee for Texas in 2025 and beyond?*

A: Texas is entering 2025 with great momentum, thanks to record-breaking economic achievements and surging job creation [ [link removed] ], coupled with an all-time high for number of Texans working and the largest labor force in our state’s history—now at more than 15.5 million. Not to mention, we are ranked as the eighth-largest economy among the nations of the world!

In order to see where we’re going, we need to look at where we have been. Looking at growth over the past decade, Texas dominated the nation in economic expansion with a 38.7% 10-year growth rate, growing much faster than the nation as a whole at 27.3%. As we look towards the next 10 years, I believe we can expect to see Texas similarly leading the nation in economic authority.

Building upon these successes and our numerous awards and accolades [ [link removed] ] [ [link removed] ], in combination with the unwavering business advantages that make our state the best place to do business in the nation, Texas will remain a global leader for economic development and economic vitality into 2025 and well into the future!

*Q: What are some of the ways Texas is innovating for the future?*

A: Texas is not only the future of business, we are blazing new paths forward in economic development while also fostering the workforce of tomorrow here in the Lone Star State. We are doing this by cultivating robust tech ecosystems in regions across the state, supporting emerging and advanced industries and harnessing public-private partnerships to drive even greater innovation and new ideas.

Texas is focused on ensuring our workforce is prepared to meet the demands of rapidly evolving industries and positioning the state as a global leader in advanced technologies—from semiconductors and electronic components to rare earth mineral mining, artificial intelligence, life sciences, aerospace and more. Texas is already home to some of the world’s largest technology and innovation companies, and we continue to attract more and more industry innovators to our state.

We’re also guiding the future of the financial services and corporate operations industries here in Texas. With the historic announcement of the Texas Stock Exchange [ [link removed] ], and a developing fintech landscape, Texas continues to expand our financial prowess. Our strength in back office operations has caught the attention of many corporate headquarters, with relocations to Texas climbing to more than 300 since 2015. 

Through initiatives in the Texas CHIPS Office [ [link removed] ] (including the Texas Semiconductor Innovation Consortium and Texas Semiconductor Innovation Fund) and the Texas Space Commission [ [link removed] ] (including the Space Exploration and Aeronautics Research Fund), Texas is prepared to lead the nation and the world towards the leading edge of innovation. Not to mention, the new Texas Jobs, Energy, Technology & Innovation Act (JETI) [ [link removed] ] program is attracting large, capital-intensive advanced manufacturing projects to Texas communities. We recently announced the first project under this program [ [link removed] ], with more to follow!

By tapping into new collaborations among industry, higher education, economic development organizations and the public and private sectors, we are building a bigger, better Texas for generations to come.

*Q: You recently celebrated your fifth anniversary as EDT’s Executive Director. What are some of your favorite memories or top defining moments for economic development in Texas over the last five years?*

A: It’s hard to believe it's been five years since my appointment by Governor Abbott! Truly it's an honor and privilege to serve as the Executive Director of the Texas Economic Development & Tourism Office under the Governor's leadership. It’s been such a wonderful adventure and an honor to work with the award-winning team here at EDT and all of our hard-working community partners all across the state! They are true public servants, serving the great state of Texas with passion, purpose and pride!

There have been so many defining moments for our office that have been transformative for our communities in the Lone Star State that it’s difficult to select just a few, but if I had to choose, I’d highlight:


* The notable investments in Texas from leading semiconductor manufacturers, including Samsung’s historic $40 billion investment, Texas Instruments' $30 billion announcement and GlobalWafers' $5 billion announcement, bringing critical semiconductor manufacturing to the U.S.
* The numerous successful International Business Development Missions that I've had the opportunity to join in: Israel (2020); England, France and Germany (2022 and 2023); U.K. (2024); India (2024); and Taiwan, South Korea and Japan (2024).
* The launch of a number of new, impactful programs including our newest EDT division, the Texas CHIPS Office, and opening the new State of Texas Taiwan Office.
* Small business is big in Texas! Our office stood up several new programs to help small and micro-businesses across Texas access assistance when they need it most: launching the Governor's Small Business Freedom Council, the Texas Small Business Credit Initiative, Texas Micro-Business Disaster Recovery Loan Program, Texas Travel Industry Recovery Grant Program and others.

And of course, it's been so exciting to continue to win the coveted Governor’s Cup award! We’re looking forward to the next award!



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Governor's Small Business Freedom Council

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Governor Greg Abbott announced the launch of his Small Business Freedom Council [ [link removed] ] to review government efficiency for Texas businesses and sent a letter [ [link removed] ] to Texas state agency heads directing them to provide recommendations to cut unnecessary government regulations that may adversely affect Texas small businesses. The Council is co-chaired by Glenn Hamer, CEO of the Texas Association of Business, and Jeff Burdett, Texas State Director of the National Federation of Independent Business, and includes the current members of the Small Business Advisory Task Force along with six small business owners from across Texas. Together, they will review the state agency recommendations and produce a report for potential future action. The Office of Small Business Assistance will then recommend the elimination of any rules, permits, fees and/or regulations that create barriers to the success of small businesses and entrepreneurs. Find more on our website [ [link removed] ].



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Held in early December, the *Governor’s Small Business Webinar Series: Optimizing Your Cash Flow* discussed tips from industry experts on how to effectively manage cash flow to help navigate financial challenges and pursue opportunities that allow for business growth. Watch a playback [ [link removed] ] of the webinar on our YouTube channel for advice on keeping your business financially healthy.

*Watch on Demand › [ [link removed] ]*


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Announced in December 2024, Bell's investment in Fort Worth will create more than 400 new jobs and more than $429 million in investment.

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Texas' success in attracting the most corporate expansion and relocation projects in the U.S. is due to a unique combination of competitive business advantages that cannot be found in any other state. For more on these business advantages, visit our Why Texas [ [link removed] ] webpages. Here are some recently announced projects in regions across the state:


* Bell in Fort Worth [ [link removed] ]: Governor Abbott announced the first project under the new Texas Jobs, Energy, Technology & Innovation Act (JETI) [ [link removed] ] program is Bell Textron, Inc. during a press event at Bell's Manufacturing Technology Center in Fort Worth. Bell will add an additional aircraft manufacturing center in Fort Worth to support the U.S. Army’s Future Long Range Assault Aircraft (FLRAA) program. A Texas Enterprise Fund grant of $2,671,500 was also extended.
* Delta Electronics in Plano [ [link removed] ]: Delta Electronics selected Plano for the expansion of its manufacturing operations, this expansion is expected to bring its employment up to 1,500 in the area.
* GEICO in North Texas [ [link removed] ]: GEICO announced plans to create 500 new jobs in North Texas as part of an ongoing expansion of its commercial insurance operations.
* Platinum Press in Dallas [ [link removed] ]: Platinum Press completed a $15 million expansion of its headquarters in Dallas, increasing its footprint by nearly 50%.

More recent announcements › [ [link removed] ]

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Texas Small Business Loan Programs

In Texas, everything is big—that includes small business! Home to more than 3.3 million small businesses, Texas is focused on ensuring our state remains the best in the country to start and run a business. Please see the below programs to learn more about loan opportunities for small and micro-businesses in the state:


* *Texas Small Business Credit Initiative (TSBCI) Program [ [link removed] ] [ [link removed] ]:* supports small business growth and helps create new jobs through increased access to small business funding. The latest listing of approved financial institutions (FIs) is now available online as well as a new, simplified application process for financial institutions."* FIs should launch the TSBCI Portal to apply, and small businesses should reach out to an approved lender!*"
* *Texas Micro-Business Disaster Recovery (MBDR) Loan Program* [ [link removed] ]*:* provides zero-interest loans to eligible CDFIs for purposes of making interest-bearing loans to qualifying micro-businesses that have difficulty in accessing capital following a declared disaster. *"CDFIs are encouraged to apply to participate in the program now—before disaster strikes."*

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"*"It ain't bragging if it's true!" Here are some of the recent accolades Texas has received:*"


* Texas was awarded two *2024 Deal of the Year Impact Awards* from Business Facilities [ [link removed] ]:
* *Aerospace:* Embraer (City of Fort Worth, Fort Worth Economic Development Partnership, Denton County and Hillwood)
* *Foreign Direct Investment:* SeAH Superalloy Technologies (Temple Economic Development Corporation)

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Texas ranked *#1 in population growth* last year, adding more than 560,000 residents, according to the U.S. Census Bureau's [ [link removed] ] latest population estimates. That's nearly 100,000 more than second-place Florida, and more than twice as many new residents as California.


* U.S. News & World Report [ [link removed] ] ranked Killeen (#2), Brownsville (#15) and Austin (#19) among the top 20 on their list of *fastest-growing places in the country*.
* Texas is home to *eight of the top 150 colleges in the nation*, according to U.S. News & World Report's latest Best National University Rankings [ [link removed] ].
* Brownsville topped the list of Area Development's [ [link removed] ] *2024 Leading Metro Locations*, a report compiled with data from Chmura Economics & Analytics providing an in-depth look at which cities are thriving and which regions are gaining ground.
* Three Texas metros made the top 10 list of U-Haul's [ [link removed] ] *2024* *Top Growth Metros*: Dallas (#1), Austin (#5) and Houston (#9).
* Texas' outdoor recreation economy was valued at *$55.8 billion*—the third-largest in the country—according to recent findings from the U.S. Bureau of Economic Analysis [ [link removed] ].

Download the latest Top Texas Touts [ [link removed] ] to your mobile device for talking points you can take on-the-go—everything from economic expansion, job creation, workforce, industry, infrastructure, education and more. 

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Recent Meetings & Events

*Meeting with Former Australian Prime Minister and Space Centre Australia Chairman*

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In December, Governor Greg Abbott met with former Australian Prime Minister and Chairman of Space Centre Australia Scott Morrison to discuss advancing space exploration. Texas looks forward to expanding our partnership and countless opportunities for space discovery and innovation.

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*Opportunity Austin Quarterly Investor Meeting*

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In December, EDT Executive Director Adriana Cruz attended the Opportunity Austin Quarterly Investor Meeting to provide an update on our state's coordinated economic development efforts. Thank you to Opportunity Austin and all of our Central Texas community partners for all that you do!

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*Port Houston Visit*

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The EDT team traveled to Port Houston's Bayport Terminal in December to meet with the Port Houston team and see first-hand the port's incredible operations and impact on the entire state! EDT Executive Director Adriana Cruz presented an update on economic development in Texas and an update on our office's activities.

"*Did you know? *"Port Houston is 52 miles long with 200 terminals. It is the #1 U.S. port for waterborne tonnage, the #1 container port along the Gulf of Mexico and the nation’s busiest waterway.

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*Meeting with Greater Brownsville Incentives Corporation*

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The Greater Brownsville Incentives Corporation team stopped by the EDT offices in late 2024 to provide an update on their community and economic development projects. We look forward to continuing to work with our South Texas community partners to grow the Texas economy!

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Join Our Team!
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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 Business & Community Development (BCD), Tourism and other divisions. Here's a select sampling of open positions:


* Research Specialist (BCD) [ [link removed] ]
* Administrative Assistance (Tourism) [ [link removed] ]

For more information on available positions, visit gov.texas.gov/employment [ [link removed] ].

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news
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**Texas Operations Receive CHIPS Incentives Awards **Companies in the semiconductor industry in Texas have received funding through the federal CHIPS Incentives Program’s Funding Opportunity for Commercial Fabrication Facilities. Awards include: GlobalWafers America, LLC [ [link removed] ] with $380 million in direct funding for operations in Sherman; Texas Instruments [ [link removed] ] was awarded $900 million for operations in Sherman; and Samsung Electronics [ [link removed] ] was awarded up to $4.745 billion for Austin and Taylor operations.



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*TSTC Expands into Comal and Guadalupe Counties [ [link removed] ]
*Texas State Technical College (TSTC) is advancing workforce development along the Texas Highway 46 corridor, with plans to establish a new campus in Seguin while expanding offerings at its New Braunfels location to help strengthen the college’s commitment to addressing regional workforce needs and supporting the area’s rapid economic growth.



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*Finland Opens Consulate General in Houston [ [link removed] ]
*The Ministry for Foreign Affairs of Finland announced the opening of a third Consulate General in the U.S. to be located in Houston. The Finnish Consulate General will support Finnish companies in various stages of market access and will continue to grow the strong economic relationship between Finland and Texas. *
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The Texas Economic Development & Tourism Office markets Texas as
one of the world's premier business locations and travel destinations.
For more information on doing business in Texas, visit us online at gov.texas.gov/business [ [link removed] ].



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