Gov. Perry on Economic Development in Texas

Texas has consistently been ranked as one of the best places to do business in the nation under Gov. Perry’s leadership.

  • Aggressive Job Creation. Since July 2003, Texas has created more than 1 million net new jobs. In 2008, more than half of the jobs created in the entire nation were created in Texas. In October and November of 2009, Texas gained 70,000 jobs while the nation as a whole lost 122,000 jobs. The Texas Enterprise Fund, the largest job creation fund of its kind in the nation, began under Perry in 2003 and is generating more than 55,000 new jobs and $15 billion in capital investment for Texas.
  • Record Property Tax Reductions. Gov. Perry championed $15.5 billion in property tax reductions, which resulted in a 33 percent decrease in school property tax rates for Texas homeowners and businesses.
  • Texas is Succeeding. Click here to see the dozens of accolades and awards Texas has received for its strong economy and friendly business climate.

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Read Related Press Releases, Blog Posts and News Articles about Gov. Perry on Economic Development in Texas

Texas Gains Recognition for Economic Strength under Governor Perry's Leadership

Economic and job growth in Texas will help lead the nation out of recession. The Texas model is one that other states’ governments and the federal government should study for success. As evidence mounts, more and more public officials, news publications, and opinion leaders are pointing to Texas as the ideal case of fiscal management.

Governor Perry’s commitment to fiscally conservative principles has kept Texas the best economic climate in the nation. The American dream is the opportunity to raise a family with the freedom to prosper, and that dream is made possible through low taxes, predictable regulations, limited government, balanced budgets, and a fair legal system. The best thing government can do is step back and allow the private sector to flourish.

CEO Rankings

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Best and Worst States for Business 2010

April 29, 2010

Chief Executive Magazine

More than 600 CEOs rated states on a wide range of criteria from taxation and regulation to workforce quality and living environment, in our sixth annual special report.

In Chief Executive’s annual survey of best and worst states for business, conducted in late January of this year, 651 CEOs across the U.S. again gave Texas top honors, closely followed by North Carolina, Tennessee and Virginia. They gave the booby prize for worst state to California, with New York, Michigan, New Jersey and Massachusetts filling out the bottom five-a line-up virtually unchanged from last year. Florida and Georgia each dropped three places in the ranking, but remain in the top 10. Utah jumped six positions this year to sneak into the top 10 at No. 9.

The business leaders were asked to draw upon their direct experience to rate each state in three general categories: taxation and regulation, quality of workforce and living environment. Within each category respondents graded states in five subcategories, as well as ranking each in terms of its importance to the respondent and how individual states measure up (Click here to see How CEOs Grade the States chart).

CEO Rankings

For example, Texas fares competitively with Nevada and Delaware in terms of taxation and regulatory environment, but scored best overall, in no small measure because of the perception that its government’s attitude to business is ideal. Runner-up North Carolina edged Texas slightly in its living environment, but scored somewhat below the Lone Star state in terms of government attitude to business and work ethic, which is a sine qua non for the business leaders. (Click here to see the chart) After employee work ethic, CEOs most highly prize lower tax rates and perceived attitudes toward business, followed by living environment considerations, such as real estate costs and education.

“Texas is pro-business with reasonable regulations,” one CEO respondent remarked, “while California is anti-business with anti-business regulations.” Another commented, “California is terrible. Even when we’ve paid their high taxes in full, they still treat every conversation as adversarial. It’s the most difficult state in the nation. We have actually walked away from business rather than deal with the government in Sacramento.”

“The leadership of California has done everything in its power to kill manufacturing jobs in this state,” observed another CEO. “As I stated at our annual meeting, if we could grow our crops in Reno, we’d move our plants tomorrow.”

How is it that the nation’s most populous state at 37 million, one that is the world’s eighth-largest economy and the country’s richest and most diverse agricultural producer, a state that had the fastest growth rate in the 1950s and 1960s during the tenures of Democratic Governor Pat Brown and Republican Governors Earl Warren and Ronald Reagan, should become the Venezuela of North America?

Californians pay among the highest income and sales taxes in the nation, the former exceeding 10 percent in the top brackets. Unemployment statewide is over 12.2 percent, higher than the national average. State politics seems consumed with how to divide a shrinking pie rather than how to expand it. Against national trend, union density is climbing from 16.1 percent of workers in 1998 to 17.8 percent in 2002. Organized labor has more political influence in California than in most other states. In addition, unfunded pension and health care liabilities for state workers top $500 billion and the annual pension contribution has climbed from $320 million to $7.3 billion in less than a decade. When state employees reach critical mass, they tend to become a permanent lobby for continual growth in government.

Bill Dormandy, CEO of San Francisco medical device maker ITC, summed it up: “California has a good living environment but is unfavorable to business and the state taxes are not survivable. Nevada and Virginia are encouraging business to move to their states with lower tax rates and less regulatory demands.”

Lone Star Leader

By contrast, Texas, the second-most populous state and the world’s 12th largest economy, is where 70 percent of all new U.S. jobs have been created since 2008. Unsurprisingly, it scores high in all the areas CEOs value most. “You feel like state government understands the value of business and industry to create jobs and growth,” observed one CEO. Its tax credits and incentives to business choosing to locate or expand are among the most aggressive. The Texas Enterprise Fund is by far the largest deal-closing fund of any state, with grants totaling $377 million disbursed in 2008.

Little wonder then that while Texas gained over 848,000 net new residents in the last 10 years, according to the Census Bureau, California lost 1.5 million. New York State’s net loss exceeded 1.6 million - the highest of any state. High-tax, big- government New Jersey ranked fourth, with a net loss of almost 460,000, enough to drop it from 10th to 11th place in population.

“The New York state legislature is the most dysfunctional in the land and one of the reasons why New York is the worst,” one exasperated New York City business leader volunteered. The political elites in the states that dismiss out-migration trends overlook the radical demographic adjustment underway. As higher-income earners leave, they are more often replaced by those with lower incomes and lower skills, many needing public assistance. Gone too are the entrepreneurs and risk-takers, off seeking regions where their job creating abilities are rewarded.

Another more daunting reality is in store. The so-called de-leveraging of America hasn’t reached government. U.S. cities and states have issued over $2 trillion in new debt since 2008, with another $1 trillion scheduled this year. The problem is that state revenues in real terms may not reach 2008 levels until late in 2012, according to John Thomasian of the National Governors Association Center for Best Practices. As he emphasizes in his paper, “The Big Reset: State Government after the Great Recession,” states will have to rethink and redesign government in terms of what is essential and what can be made more efficient if their citizens are to have much of a future.

The results of this survey may point the way.

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Over 1,000 Jobs to be Added in San Antonio

Governor Perry has made job creation the top priority in Texas under his leadership. Over the past decade, Texas has created more private-sector jobs than any other state, and in 2008, Texas created more jobs than all the other states combined.

Recently, Gov. Perry announced that Kohl's would add more than 1,000 jobs to the San Antonio area through an investment of the Texas Enterprise Fund (TEF), as Texas remains the best place to live, work, and raise a family.

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South Dakota, Texas top states for entrepreneurs, New Jersey is worst

April 27, 2010

The Washington Examiner

Mark Tapscott

Thinking about starting a business but not sure where to locate it? The Small Business and Entrepreneurship Council (SBE) has just the thing for you - an index of how friendly each of the 50 states are in their tax codes to such endeavours.

South Dakota, Texas, and Nevada are the top three states with the most small-business and entrepreneur friendly tax systems, according to the latest edition of the index. To grasp just how difficult a task is facing Gov. Chris Christie's New Jersey is the worst state in the Index.

The index measures 16 different factors in rating an individual state, then assigns it an index number based on its composite performance on those factors. With the economy in the Great Recession, state tax policies are even more important to small businesses and entrepreneurs, according to Raymond J. Keating, SBE's chief economist and author of the index.

"The economy started to hit rough waters in late 2007. Lawmakers at the federal level made matters worse by imposing and pushing for increased tax and regulatory burdens that will raise costs for the entrepreneurial sector of the economy. Unfortunately, state lawmakers in many states have piled on with their own burdens. Indeed, many state tax systems send an unmistakable signal to investors and entrepreneurs that they would be better off doing business elsewhere," Keating said.

"Taxes at the state and local levels matter by diverting resources from and reducing incentives for productive, private-sector risk taking that generates innovation, growth and jobs. Quite simply, economic recovery will be restrained by high and/or increasing taxes, or boosted by low and/or falling taxes. Governors and legislators have a choice," he said.

The rest of top 10 states in the index include, in rank order from fourth to 10th: Wyoming, Washington, Florida, Alabama, Alaska, Ohio, and Colorado.

The rest of the bottom 10 states after New Jersey include, starting with 49th Minnesota, followed by California, New York, Maine, Iowa, Vermont, Oregon, Massachusetts, Rhode Island, and Hawaii.

New Jersey's only consoliation is that the District of Columbia would rank 51st if it were a state. For more on the Index, go here.

Read more at the Washington Examiner:

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Cap and Tax Threatening Texas Jobs

In less than six months, Texas voters will go to the polls and choose between two starkly different visions for Texas.

The first vision is one of limited government that fosters an environment for good Texas jobs, economic growth, boundless opportunity, and greater personal freedom.

The second, favored by Gov. Perry’s opponent, is a vision of more government spending, more taxation, and expanded government control over every aspect of your life. He supports the goals Obama-care. He calls spending cuts by state agencies “Soviet-style” governance. And he supports California-style emissions regulations, which would cripple industry in Texas.

In fact, if you wonder why Bill White is an Obama-like liberal, look no further than the issue of cap and trade…more accurately known as cap and tax, because it will cap our economy and tax away our jobs.

While Texas leaders fight the Obama Administration’s job-killing regulatory policies in court, the former mayor of Houston—our nation’s largest energy producer—advocates policies that would decimate the very industry the Bayou City was built on.

The Democratic nominee for governor went so far as to send an advisory memo to Obama’s chief of staff, telling him how to sell cap and tax to the American public!

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Bobby Labonte And TRG Motorsports Team With Governor Rick Perry For Spring Race At Texas Motor Speedway

April 6, 2010

LEWISVILLE – TRG Motorsports, NASCAR Champion Bobby Labonte and Gov. Rick Perry today announced that Texans for Rick Perry will sponsor the No. 71 racecar of NASCAR’s most popular Texan, Bobby Labonte, during the Samsung Mobile 500 at Texas Motor Speedway on April 18, 2010.

“I am proud to partner with fellow Texan and unwavering patriot, Bobby Labonte, in my effort to raise awareness of the conservative values that have kept our state at the forefront of the national economy,” said Gov. Perry. “Texas has remained strong in the midst of these challenging economic times because of the team effort embraced by hardworking Texans and conservative leaders – teamwork that has kept our taxes low, unemployment down and job creation up. My campaign’s sponsorship of the No. 71 race car will send the message to all Texans that elections are about the hardworking people who make our state great; this election is about moving Texas forward.”

Emblazoned with the Texans for Rick Perry logo and the sponsorship slogan Moving Texas Forward, the Chevy Impala SS driven by Labonte will tour across the state in the days leading up to the Samsung Mobile 500 race at Texas Motor Speedway on April 18, offering race fans the chance to get an up close and personal glimpse at a stock car and learn more about Gov. Perry’s effort to keep Moving Texas Forward.

“I couldn’t be more excited to have Gov. Perry on board the No. 71 for the Texas race,” Labonte said. “It’s always great for me to come back to my home state and now I’ve got an even bigger reason to be able to connect to all of the fans and my fellow Texans.”

NASCAR is an important contributor to Texas’ economic vitality, drawing more than 400,000 spectators and generating revenue equivalent to one Super Bowl event, approximately $90 million, during a single NASCAR weekend at Fort Worth’s Texas Motor Speedway. The speedway is home to the five largest single-day spectator events in the state of Texas, two NASCAR Sprint Cup Series events, two NASCAR Nationwide Series events and the IndyCar Series Race, contributing a regional economic impact of approximately $300,000,000 per year.

“This is a prime example of why NASCAR sponsorship is such an effective marketing platform,” said team owner Kevin Buckler. “We are going to help Gov. Perry reach a huge number of Texans in a very short period of time. Bobby and the No. 71 are going to provide a call to action to all of the governor's supporters in the NASCAR world. It’s great to see Gov. Perry utilize such a creative way to run for re-election – right in his own back yard.”


About TRG Motorsports

TRG Motorsports is based in Mooresville, North Carolina, and is home to the No. 71 Chevrolet driven by NASCAR Champion Bobby Labonte. The team is in its second year of the NASCAR Sprint Cup Series after successfully competing in the Craftsman Truck Series and ARCA series. The Racer’s Group was founded in 1993 and has been competing at the top level of sports car racing. TRG’s Porsche sports car program is run out of the company’s headquarters in Petaluma, California. The team has the most wins of any team in the Grand-Am Rolex Series with 28, including the 2005 and 2006 Rolex Series GT championship trophy to go along with wins in the Rolex 24 Hours at Daytona (three) and the 24 Hours of Le Mans.

For more information, please contact Adriana Wells at (704) 662-7158 or

Detailed team info can be viewed at and

For sponsorship information, please contact Jason Solomonson at (704) 662-7158.


TRG Motorsports/Bobby Labonte: Adriana Wells 704-662-5950

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Dallas-Fort Worth area topping the nation in population growth

March 24, 2010

Eric Aasen

North Texas continues to be a people magnet.

The Dallas-Fort Worth area added more new residents last year than any other metropolitan area in the country, according to U.S. Census Bureau data released Tuesday.

The region attracted nearly 147,000 people during a 12-month period starting in July 2008, topping the Houston metropolitan area, which ranked second with an additional 141,000 residents.

Helping to fuel the North Texas growth is Rockwall County, which was the third-fastest-growing county in the country during the last decade. According to the new numbers, its population has nearly doubled since 2000. Not far behind was Collin County, which ranked No. 13, growing more than 60 percent.

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Texas Beats Other States out of Recession, Comerica Report Says

March 22, 2010

Darrell Preston

March 22 (Bloomberg) -- Texas, the second-most populous U.S. state, is among the first to emerge from the recession that began in December 2007 as job growth returned sooner, Comerica Inc. said in a report.

The Texas economy followed states into the worst economic slump since 1930s, bottomed in September 2009 and began growing, five months before job growth hit bottom for the rest of the country, according to the report today by Dana Johnson, the chief economist at the Dallas-based bank.

The turnaround should mean state revenue will return to growth sometime in the next year as more jobs generate new tax income, said Johnson, in an interview. Texas collected $1.6 billion from sales tax, which supplies half of the state’s general fund budget, in February, an 8.8 percent decline from a year earlier, Comptroller Susan Combs said March 10.

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Bucking trend, Texas cities keep growing, with Dallas-Fort Worth in the lead

March 23, 2010

Steve Campbell

Even as the recession put the brakes on mobility across America, Dallas-Fort Worth led the nation in population growth for the 12 months that ended July 1, according to new census estimates released Tuesday.

The Metroplex added 146,530 people. The Houston area wasn't far behind, adding 140,784, the second-highest increase. Los Angeles (106,402), New York City (101,295) and Washington, D.C. (98,305) rounded out the top five.

Austin (50,975) was 12th and San Antonio (41,437) was 16th.

The Texas metropolitan areas stand out, demographers say.

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Texas Metros Continue to Show Strong Economic Indicators

Governor Perry continues to keep focus on the Texas economy as the most important issue facing our state. With record job creation, low taxes, sweeping tort reform, and the most business-friendly environment in the nation, it's clear that fiscal discipline under Gov. Perry is keeping Texas as an economic driver leading the nation out of recession.

The Brookings Institution today released its quarterly report on the nation's 100 largest metropolitan areas. The overall performance rankings are based on indicators like unemployment rates, housing markets, and gross metropolitan product.

Read more about the report here.

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