POPULATION: 24,326,974 (July 2008)

LABOR FORCE: 12,017,484 (July 2009)

TRADITIONAL INDUSTRIES: Semiconductors, chemical and allied products, petroleum, food processing, transportation equipment

EXPANDING INDUSTRIES: Automotive, biotech and medical sciences, nanotechnology and advanced materials, microelectronics, telecommunications

COLLEGE GRADUATES: (Age 25 and over) 25.2% (2008)

BASIC BUSINESS TAXES:
Corporate Franchise Tax: Effective January 1, 2008, a reformed Texas franchise tax will be imposed upon each taxable entity that does business in Texas, or that is chartered or organized in Texas, at a primary rate of 1 percent; the rate will be 0.5 percent for trade businesses primarily engaged in retail or wholesale trade; businesses with a computed tax liability of less than $1,000 will not be subject to the tax, nor will small businesses with a total revenue of less than or equal to $1 million

Sales and Use Tax: 6.25 percent on retail sales of tangible personal property and certain labor and services; cities, counties, and transit authorities may add to the sales tax up to a maximum combined state and local rate of 8.25 percent, with exemptions

Property (ad valorem) Tax: No state property tax; real and tangible personal property is taxed at varying rates by local government and special taxing districts; local taxing entities have the option to exempt freeport goods

BUSINESS INCENTIVES:
Texas Enterprise Fund
Texas Emerging Technology Fund
Small Business Incubator Fund
Industrial revenue bonds
Texas Small Business Industrial Development Corporation

Texas Capital Fund:
• • Real Estate Development Program
• • Infrastructure Development Program
• • Main Street Improvements Program

Texas Product/Business Fund
Texas Enterprise Zone Program
Defense Economic Readjustment Zone Program
Foreign-trade zones
Maquiladoras
Texas Leverage Fund
Skills Development Fund (Texas Workforce Commission)
Linked Deposit Program
Texas Capital Access Fund
Rapid Response Program (re-employment assistance, Texas Workforce Commission)
Downtown Revitalization Program
Empowerment zones
Renewal Community Development zones
Product Development Fund
GO TEXAN Partner Program (agricultural)

Texas Agricultural Finance Authority financial assistance programs (agricultural):
• • Linked Deposit Program
• • Young Farmer Loan Guaranty Program