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Dear Texas Economic Development & Tourism Stakeholders,
The month of November brings a number of celebrations. First, we’d like to wish all of our Texas veterans a happy Veterans Day and thank them for their service to our country! Home to more veterans than any other state and more than 1 in 10 of all veteran business owners in the U.S., we are proud to honor the contributions of Texas veterans to our communities. Our office remains committed to supporting veteran business owners and all Texas entrepreneurs through various programs, resources and events. Find more information on our website.
We're also proud to announce that Texas has once again been named the Top Business Climate in America! Site Selection magazine has now recognized Texas for our superior business climate for three years in a row! Read more in the Governor's press release.
And in the month of November, we take time to gather with our family, friends and loved ones to celebrate Thanksgiving, and to reflect on all we are grateful for. It’s a time to appreciate the many blessings we have in the Lone Star State. I want to take a moment and thank you, our community partners and stakeholders for all that you do in service to the great state of Texas.
In this issue of the Texas Business Bulletin, you'll find information on the recently announced Texas Regulatory Efficiency Office (TREO), loan support programs for small businesses, new reports and publications, recent project announcements and much more.
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, EDT Executive Director
NEW: Texas Regulatory Efficiency Office
Here in Texas, we operate at the speed of business. In order to continue to foster our pro-growth, pro-business environment, in October 2025, Governor Greg Abbott announced the launch of the Texas Regulatory Efficiency Office (TREO), to be housed within the Office of the Governor. Governor Abbott also recently named Jerome Greener as Director of TREO.
The TREO website, which will grow and expand over time, will serve as a one-stop shop for updates on the critical work that TREO is doing to reduce regulatory burdens, eliminate unnecessary rules and promote economic growth by making Texas even more business friendly. On the website, Texans can find the Regulation Evaluation Portal to submit feedback and make recommendations on potential government overregulation that TREO should review.
By continuing to cut regulatory red tape that hinders business growth and formation, Texas will uphold our best-in-class business climate for decades to come.
Home to more than 3.5 million small businesses, Texas is focused on ensuring our state remains the best in the country to start and run a business. The programs listed below can help small and micro-businesses that are rebuilding and recovering:
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Texas Micro-Business Disaster Recovery (MBDR) Loan Program: provides zero-interest loans to eligible Community Development Financial Institutions (CDFIs) for purposes of making interest-bearing loans to qualifying micro-businesses with no more than 20 employees that have difficulty in accessing capital following a federal, state or local declared disaster. CDFIs are encouraged to apply to participate in the program now and before potential disasters strike.
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Texas Small Business Credit Initiative (TSBCI) Program: 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 visit the TSBCI Portal to apply, and small businesses should reach out to an approved lender.
Our office develops in-depth reports, publications, infographics and maps highlighting the Lone Star State's best assets for business and targeted growth sectors. Check out the latest Reports & Publications on our website.
Financial Services Industry Snapshot
The new “Y’all Street,” Texas ranks #1 in the U.S. for total financial services employment and the sector is expected to continue to grow with the new Texas Stock Exchange, NYSE Texas and Texas regional headquarters for Nasdaq. Read more about this critical industry in the Texas Financial Services Industry Snapshot.
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Semiconductor Industry Snapshot
Texas is the birthplace of the chip that changed the world—and where the future of America’s semiconductor industry is already building. Read more about Texas' strong and growing semiconductor industry in the updated Texas Semiconductor Industry Snapshot.
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Texas CHIPS Act Snapshot
Programs initiated through the Texas CHIPS Act, which was signed into law by Governor Greg Abbott in June 2023, continue to leverage Texas' investments in the semiconductor industry. Read more in the updated Texas CHIPS Act Snapshot.
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Please join us at the final Governor's Small Business Summit of the year! The Take your entrepreneurial journey to new heights by connecting with resources and information to help start, strengthen and grow a veteran-owned business in Texas. The event brings together local, state and federal resource partners to provide key insights on critical business topics. There's also opportunity to network with other business owners and hear from subject-matter experts to gain timely, relevant and actionable advice.
 
EDT attended the announcement of Lilly's new active pharmaceutical ingredient manufacturing facility in Texas at an event in Houston.
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 are found only in Texas. 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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Lily in Harris County: Lily announced it will build a $6.5 billion, 1 million-square-foot manufacturing facility in Harris County. The project is expected to generate more than 600 new jobs. This is the first active pharmaceutical ingredient (API) manufacturing facility in the state. A Texas Enterprise Fund (TEF) grant of $5.5 million was extended to the company.
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Scotiabank in Dallas: Scotiabank, a multi-national financial services provider and one of the largest banks in North America, is investing $60 million to create a major regional office in Dallas. The project is expected to create 1,020 new jobs. A more than $10.7 million TEF grant was extended to the company.
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Lefko in New Braunfels: Lefko will locate their first U.S.-based manufacturing facility in New Braunfels. The advanced manufacturing facility will create 149 new jobs and more than $15 million in capital investment. A TEF grant of $968,500 was extended to Lefko.
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SpaceX in Bastrop: SpaceX is investing $280 million and creating 400 jobs to expand its semiconductor research and development and advanced packaging facility in Bastrop. A $17.3 million TSIF grant was awarded to the company for the project.
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Yerico Manufacturing in Elgin: Yerico Manufacturing Inc. is expanding its Elgin facility, a project which is expected to create 30 new jobs and more than $13 million in capital investment. The company is increasing its semiconductor equipment refurbishment and repair capacity. A TSIF grant of $1.3 million was awarded to the company.
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Formosa Plastics in Jackson County: Formosa Plastics will open a new facility in Jackson County to produce C6 (1-Hexene), a feedstock organic compound used at their existing complex in Point Comfort. The project will create $150 million in capital investment. The project qualified under the Texas Jobs, Energy, Technology, and Innovation (JETI) program.
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Meta in El Paso: Meta announced it will build a new $1.5 billion data center complex in El Paso, creating 100 new jobs.
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PEGATRON in Georgetown: PEGATRON, a globally recognized leader in AI computing services, will invest $35 million in Georgetown to build the company’s first manufacturing facility in the U.S. The company plans to hire hundreds of employees for high-tech jobs.
  "It ain't bragging if it's true!" Here are some of the recent accolades Texas has received:
- Texas was named the Top Business Climate in America for the third year in a row by Site Selection magazine.
- Texas ranks as the second most diverse state in the nation, according to a ranking by WalletHub which looked at factors such as cultural, economic, socioeconomic and household diversity.
- Texas is projected to be home to the nation's largest manufacturing job surge. A study by Deloitte and The Manufacturing Institute projected nearly 58,000 manufacturing jobs added in Texas by 2033.
- Texas leads the U.S. in plastics manufacturing jobs, according to a new analysis from the American Chemistry Council.
- Texas is #1 in utility-scale battery storage with a storage of about 14.2 gigawatts, according to S&P Global.
Download the latest Top Texas Touts 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.
The EDT team continues to participate in various meetings, events and engagements with our economic development partners and stakeholders. Here's a selection of just a few of the many recent activities.
Texas: The Economic Engine of America
 EDT and the Texas Economic Development Corporation (TxEDC) hosted a group of top site selection consultants from across the U.S. during Formula 1 U.S. Grand Prix weekend in Austin. During the visit, the group participated in a discussion with Governor Greg Abbott regarding Texas' superior business climate and heard a presentation from EDT Executive Director Adriana Cruz on economic development in Texas. The group also participated in F1 race events at Circuit of the Americas throughout the weekend.
Auvergne-Rhône-Alpes Delegation
 In October, EDT and TxEDC hosted a delegation of government officials and businesses from the French region of Auvergne-Rhône-Alpes. The purpose of the visit was to strengthen Texas' economic, industrial and academic ties with the Auvergne-Rhône-Alpes region, which shares many key industry sectors with Texas.
 Meeting with Coahuila Governor Manolo Jiménez Salinas
  In October, EDT and the State of Texas Mexico Office met with Coahuila Governor Manolo Jiménez Salinas during his visit to Austin. The group discussed the strong historical and cultural ties between the two regions and the growing economic relationship between Texas and Coahuila.
SEMICON West
 EDT, including the Texas CHIPS Office, and our partners at TxEDC traveled to SEMICON West in Phoenix, Arizona to promote Texas to the global semiconductor industry. As the top state in the nation for semiconductor manufacturing, the TEXAS booth showcased the Lone Star State's strengths in chip production and supply chain attraction.
Visit to McAllen
 EDT's Director of Business Development Larry McManus visited the McAllen Chamber of Commerce and McAllen Economic Development Corporation for a session focused on collaborations in competitiveness, infrastructure and talent. We look forward to continuing to work with all of our South Texas community partners!
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