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Dear Texas Economic Development Stakeholders,
In case you haven't heard...we are excited to share that Texas took home our 12th Governor's Cup in a row from Site Selection magazine in March! Continuing an unprecedented winning streak, we have once again attracted more corporate relocation and expansion projects than any other state (more on this below). Not to mention, Texas remains the leading annual jobs creator in the nation! Our state added 291,400 jobs between February 2023 and February 2024, growing at an annual rate of 2.1%.
In the March/April issue of the Texas Business Bulletin, you'll find an update on how our office is strengthening economic ties between Texas and the U.K., 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, follow us on social media or reach out to a member of our team if we can be of any assistance!
 -Adriana Cruz, Executive Director, Texas Economic Development & Tourism
  Unemployment Rate: 3.9%
Workforce: 15.1 million+
U.S. Rank in Annual Job Growth: #1
Texas Takes 12th Governor's Cup in a Row
 We are proud that Texas has once again secured Site Selection magazine's Governor's Cup for the most corporate relocation and expansion projects in the U.S.—now for the 12th year in a row!
At the Governor's Mansion on March 1, Governor Greg Abbott celebrated this unprecedented win, which is the 20th total cup for Texas and a record unmatched by any other state. With 1,254 total projects in 2023, more than twice the total for the second-ranked state, business expansions and relocations last year are expected to result in approximately $59.95 billion in capital investment and more than 35,000 new jobs.
Across all regions of the state, from rural to urban, and across diverse industries, our office tracked new project announcements in energy, manufacturing, automotive, EV and batteries, technology, semiconductors, food and beverage, financial services and more!
It's thanks to the unwavering teamwork and collaboration in economic development in Texas that remarkable wins like this are possible. Congratulations to our exceptional economic development partners at the local, regional and statewide level who have all played a significant role in helping businesses grow in Texas and creating new jobs in communities across the state. Read more about this exciting announcement in the Governor's press release.
Governor's Report to the People
Governor's Report to the People
The 2024 Governor's Report to the People shows the impact of our office's economic development efforts across the state and how we are helping to build a bigger, better Texas. Download the full report and see pages 13-24 for more on the strength of the Texas economy, as well as some of the critical economic development legislation that was passed during the 88th Legislative Session.
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Governor Greg Abbott traveled to the U.K. in March to meet with business leaders and government officials to deepen the strong economic partnership between the U.K. and Texas, encourage expanded trade in critical industries and attract new job-creating business investments to Texas. The Governor was joined by First Lady Cecilia Abbott, Texas Secretary of State Jane Nelson, EDT Executive Director Adriana Cruz and Texas Economic Development Corporation President & CEO Aaron Demerson.
Statement of Mutual Cooperation with the U.K.
The Statement of Mutual Cooperation signed by Governor Abbott and U.K. Secretary of State for Business and Trade Kemi Badenoch further promotes economic growth, supports innovation and encourages job creation in Texas and the U.K. The statement prioritizes collaboration in sectors such as new and emerging innovative energy solutions, including hydrogen, carbon capture and energy storage; chemicals production; health and life sciences; supply chains and critical minerals; advanced technologies; aerospace; and more.
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Meeting with Prime Minister Sunak
Governor Abbott met with U.K. Prime Minister Rishi Sunak to discuss the deepening of the already-strong cultural and economic relationship between Texas and the U.K. A meeting was later held with the former prime minister, the Right Honorable Lord David Cameron, currently the U.K. Secretary of State for Foreign, Commonwealth and Development Affairs.
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Meetings with Corporate Leaders in Energy
The Governor met with BP Executive Vice President of Regions, Corporates and Solutions William Lin and other senior leadership in London. With more than 110 years of experience in the energy sector and employees in 62 countries, BP’s U.S. headquarters are located in Houston. Home to more than 3,800 employees, it is the company’s largest employee base in the world.
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Also during his time in London, Governor Abbott delivered remarks as the 2024 Ronald Reagan Lecturer at The Margaret Thatcher Centre at the invitation of the Right Honorable Sir Conor Burns MP, the Prime Minister’s Trade Envoy to the U.S. for Regional Trade and Investment, who also serves as Chairman of The Margaret Thatcher Centre.
The trip was sponsored and paid for by the Texas Economic Development Corporation.
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Did you know? The United Kingdom leads all nations for the number of foreign direct investment projects in Texas, and Texas is #1 among the states for exports to the U.K. In 2023, Texas trade with the U.K. totaled $18.2 billion, making the U.K. the state’s ninth-largest total trade partner. In the last decade, companies from the U.K. have invested $8.6 billion in capital investment, creating more than 18,200 Texas jobs.
2024 Governor's Small Business Summits
Join us at the 2024 Governor's Small Business Summits! These events are designed to help small business owners and aspiring entrepreneurs start, strengthen and grow a business by connecting them with the resources they need to succeed. Offering a variety of informational sessions, these events bring together local, state and federal resource partners to provide information on critical business topics. See the map below to find an event in a city near you and visit our website at gov.texas.gov/events to register and find out more!
  The Texas Film Commission has launched a new Digital Media Friendly Texas Certified Community program. This new program will attract digital media production across the state and grow local jobs in animation, visual effects (VFX), video games and extended reality (XR).
The Digital Media Friendly Texas designation showcases certified communities to digital media companies and professionals to attract economic development opportunities and grow local jobs. The program also connects digital media professionals in Texas with skilled municipal liaisons to encourage new digital media investment in Texas. Additionally, the program educates communities and their residents about the importance of digital literacy to help close the digital divide. Learn more at the link below.
The Texas Workforce Investment Council recently published a new report to detail the demographic characteristics of the veteran population in Texas. The demographic analyses in this report offer important information for program planning and improvement efforts by local workforce boards, state agencies, community and technical colleges, policy analysts and other workforce system stakeholders. Did you know? There are more than 1.4 million veterans in Texas. For more information, download the report at the link below.
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    Texas' success in attracting the most corporate expansion and relocation projects in the U.S. is thanks to a unique combination of competitive business advantages that no other state can claim. 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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Eastman in Longview: Eastman will add an additional manufacturing facility at its existing site in Longview, creating more than 200 new jobs and approximately $1.2 billion in capital investment. A Texas Enterprise Fund grant of $2,040,000 was extended to the company.
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Walmart in Robinson: Walmart announced a new facility in Robinson, expected to create nearly 400 new jobs and $350 million in capital investment.
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Liberty Energy in Odessa: Liberty Energy broke ground on a new $50 million headquarters in Odessa where the company plans to employ up to 1,500.
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Megaacrete in Kerrville: Megaacrete announced a new U.S. headquarters and manufacturing facility in Kerrville expected to create $40 million in capital investment.
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AEP in Laredo: AEP celebrated the ribbon-cutting of its new AEP Texas Laredo Service Center, creating $35 million in capital investment.
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SpaceX in Texas: SpaceX launched a $100 million expansion project at Starbase in Boca Chica and also relocated its headquarters from Delaware to Texas.
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Grainger in Hockley: Grainger will open a new 1.2 million-square-foot distribution facility in Hockley, adding 400 new jobs to the local economy.
   “It ain’t bragging if it's true!” Here are some of the recent accolades Texas has received:
- Texas is home to seven of the top 25 tech cities, according to Cloudwards: Plano (#4), Austin (#7), Frisco (#10), Arlington (#16), San Antonio (#18), Garland (#21) and Houston (#22).
- In the Milken Institute's Best-Performing Cities Index, Austin-Round Rock (#1) and Dallas-Plano-Irving (#8) ranked among the top 10 best-performing large cities.
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Laredo was the #1 port in the nation for 2023 with the value of imports and exports passing $300 billion, a record for the port (U.S. Census Bureau).
- Six Texas counties are among the top 10 fastest growing in the U.S., according to the U.S. Census Bureau: Kaufman (#1), Rockwall (#2), Liberty (#3), Chambers (#6), Comal (#7) and Ellis (#8).
- Texas cities are ranked among the top 10 Hardest-Working Cities in America for 2024, according to WalletHub: Irving (#2), Dallas (#7) and Austin (#10).
Download the latest Top Texas Touts to your phone for talking points you can take on-the-go—everything from economic expansion, job creation, workforce, industry, infrastructure, education and more.
Meetings with Australian Ambassador Rudd and German Minister Hoffmeister-Kraut
 In March, Governor Greg Abbott hosted Australian Ambassador to the U.S. Dr. Kevin Rudd and the German Minister for Economic Affairs, Labour and Tourism of Baden-Württemberg Dr. Nicole Hoffmeister-Kraut at the Texas Capitol. During the two meetings, the Governor discussed bolstering Texas’ international economic partnerships with Australia and Germany and highlighted Texas as the premier destination for companies from around the world to do business. Read more in the Governor's press release.
 SelectUSA Roadshows
 During the month of March, EDT's International Business and Existing Industry Team attended SelectUSA Roadshow events across Europe, including stops in Bilbao, Valencia and Sevilla, Spain; Paris, Toulouse, Montpellier and Nice, France; and Milan and Padua, Italy. The event pictured on the left, hosted by Mouvement des Entreprises de France (MEDEF), kicked-off the U.S.-France Economic Investment Mission Roadshow portion of the trip. Pictured on the right is a one-on-one meeting during the SelectUSA Roadshow stop in Milan, Italy. Throughout the trip, the team met with companies across a variety of industries looking to expand their operations into the U.S. and discussed the benefits of selecting Texas for their next business investment.
SXSW Creative Industries Expo
 In coordination with the Texas Economic Development Corporation (TxEDC), Travel Texas, the Texas Film Commission and the Texas Music Office, EDT showcased the Lone Star State's strong business, travel, film and music industries at the SXSW Creative Industries Expo in March. Photo Credit: Jim Stone
Bay Area Houston Economic Partnership
 In February, EDT Executive Director Adriana Cruz participated in the Bay Area Houston Economic Partnership event where she gave an overview of our office's activities, the latest on economic development in Texas and an update on the Texas Space Commission. Thank you to the Bay Area Houston Economic Partnership and our many other partners in the region for your continued collaboration!
Megaacrete Announcement
 EDT Director of Business & Community Development Larry McManus and State of Texas Mexico Office Director James Taylor attended the announcement of Megaacrete's new U.S. headquarters and manufacturing facility in Kerrville. The project is expected to create $40 million in capital investment and will bolster our state's strong manufacturing industry.
Opportunity Austin
 In February, EDT's Executive Director Adriana Cruz spoke to a group from Opportunity Austin about the state-level economic development perspective in Texas and highlighted the robust and growing semiconductor industry in Central Texas and across the state.
TEDC Winter Conference
 EDT attended the Texas Economic Development Council's 2024 Winter Conference in San Antonio in February. The staff attended numerous sessions and panels on a variety of economic development topics and networked with community partners from across the state. EDT Executive Director Adriana Cruz and Director of Business & Community Development Larry McManus presented an update on the Jobs, Energy, Technology & Innovation (JETI) Act during a conference panel session.
 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), Economic Development Finance (EDF) and other divisions. Here's a select sampling of open positions:
For more information on available positions, visit gov.texas.gov/employment.
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