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Governor's Letter

April 2008

Location Texas

The word is out that Texas is wide open for business. As Governor, I want to continue to foster an environment of job growth, opportunity, and prosperity for the people of Texas and the nation.

Texas Enjoys a Competitive Edge in Today’s Global Economy

We have cultivated a business climate in Texas that rewards the entrepreneurial spirit and welcomes those who risk their capital and create jobs. Texas offers companies an unparalleled competitive edge with our favorable tax climate, proximity to strategic markets, cutting-edge infrastructure, excellent schools, and highly skilled work force.

Our state provides businesses with the tools they need to grow and prosper, including the innovative, “deal closing” Texas Enterprise Fund (TEF) and the Texas Emerging Technology Fund (ETF). To date, the state has allocated more than $369 million from the TEF, helping close the deal on projects that will bring 51,500 new jobs to Texas and add $15.5 billion in capital investments to our economy. The $200 million ETF program, established by the Texas legislature in 2005, has allocated more than $100 million in grant funds to Texas companies and universities, luring the best and brightest emerging technology talent and collaboration to the Lone Star State.

Texas is recognized around the world for our pro-business climate:
Texas dominated Forbes’ “Best Cities for Jobs in 2008” list, with five cities in the top 20. Austin, Fort Worth, Houston, San Antonio, and Dallas ranked high among the places economists forecast are the best to work in the United States in 2008. McAllen, Texas, is expected to have the highest job growth rate of the 100 cities evaluated (Forbes, January 2008).

For the third straight year, the nation’s leading executives rank Texas as the best state in which to do business, applauding the state for controlling taxes and spending as well as for its positive regulatory burden, quality of life, and infrastructure (Chief Executive magazine, January 2008).

Texas has ranked as the No. 1 U.S. exporting state for six straight years. Texas’ exports were approximately $168 billion in 2007, representing an 11.45 percent increase from 2006 (WISERTrade, February 2008).

Texas continues to lead the nation in wind capacity added to the electric grid. Texas’ cumulative wind generating capacity (4,356 MW) is 26 percent of all wind power installed in the United States (American Wind Energy Association, January 2008)

Texas is a place of limitless possibility and we will continue to make every effort to ensure that business and industry thrive in our great state. I invite you to come to Texas, where we’re ready to work with you.

Sincerely,
Rick Perry, Governor