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Dear Texas Economic Development Stakeholders,
Happy holiday season to you and yours! This month marks my five year anniversary as the Executive Director of the Texas Economic Development & Tourism Office. It continues to be an honor and privilege to lead the economic development efforts for the Lone Star State!
As we begin this season of celebration and the year draws to a close, I want to express my gratitude for the shared achievements brought forth by working together with economic development partners across the state this past year. Working together, we fostered growth, innovation and economic opportunity, strengthening the Texas economy and bolstering our communities. We look forward to building on our successes in the year ahead!
A reminder that December is National Write a Business Plan Month! A business plan is one of the first and most important steps in starting a new business. Visit our website for helpful resources, tips and guidance to get started on your own entrepreneurial endeavor.
In this issue of the Texas Business Bulletin, you'll find our 2024 Year in Review, an update on our office's programs, 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.
On behalf of the team at the Texas Economic Development & Tourism Office, our best wishes for a happy holiday season and prosperous new year!
 Adriana Cruz, Executive Director
Texas Economic Development & Tourism Office
  Unemployment Rate: 4.1%
Workforce: 15.4 million
Jobs Added Over the Last 12 Months: 274,600
2024 Year in Review
As we approach the end of 2024, we'd like to take a moment to reflect on the many accomplishments this past year. We recognize that it takes all of our economic development partners working together to uphold Texas' unprecedented success in economic development. We mark the end of this year by celebrating everything our state partners have accomplished together—from our record-breaking job creation and economic growth to our many awards and accolades. Here's a look at some of the highlights from 2024, included in both bulleted and infographic form:
- Texas was named State of the Year by Business Facilities, taking the title for the fifth time.
- The Texas economy was valued at $2.6 trillion, expanding faster than the nation with an annual growth rate of 7.4% in 2023.
- Texas was named the Best Business Climate in the U.S. for 2024 by Site Selection and Business Facilities.
- Texas was named the Best State for Business by Chief Executive for the 20th time in a row.
- Texas secured our 12th Governor's Cup in a row from Site Selection for the most job-creating corporate relocation and expansion projects in 2023.
- Texas was named the #1 exporting state in the nation, again for the 22nd year in a row.
- Texas was awarded our 11th Gold Shovel from Area Development.
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Texas dominated the Business Facilities 2024 Rankings Report with more than 70 top rankings across state and metro categories for our leadership in industry, workforce, business climate, economic strength and more.
 We look forward to continuing this momentum in the year ahead as we continue to work together to build a bigger, better Texas for generations to come!
In Texas, small business is big business! Home to 3.3 million small businesses, Texas is focused on ensuring our state remains the best in the country to start and run a business. Please see the below programs to learn more about loan opportunities for small and micro-businesses in the state:
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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 launch the TSBCI Portal to apply, and small businesses should reach out to an approved lender!
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Texas Micro-Business Disaster Recovery (MBDR) Loan Program: provides zero-interest loans to eligible CDFIs for purposes of making interest-bearing loans to qualifying micro-businesses that have difficulty in accessing capital following a declared disaster. CDFIs are encouraged to apply to participate in the program now—before disaster strikes.
  
Electrolit announced plans to construct a $400 million state-of-the-art manufacturing facility and its first U.S. production location in Waco.
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 cannot be found in any other state. 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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IntelliEPI in Allen: IntelliEPI will build a new 30,000-square-foot wafer production facility in Allen, which is expected to create more than $41 million in capital investment and nearly triple the company’s annual wafer production. A Texas Semiconductor Innovation Fund grant of $4,120,000 was extended to the company.
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US Foods in Buda: US Foods, Inc. will expand their existing food distribution and warehousing facility in Buda, creating 165 new jobs and more than $120 million in capital investment. A Texas Enterprise Fund grant of $1,072,500 was extended to the company.
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Electrolit in Waco: Electrolit announced plans to construct a $400 million state-of-the-art manufacturing facility and its first U.S. production location in Waco.
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Amazon in Cleburne: Amazon's new $200 million operations facility in Cleburne is expected to create almost 1,000 new jobs.
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STULZ USA in Denton: The company’s third U.S. manufacturing facility in Denton will create more than 200 new jobs and bolster our state’s manufacturing sector.
Optimizing Your Cash Flow
When: Tuesday, December 10 I 1 p.m. - 2 p.m.
Where: Online Webinar
About: This Governor's Small Business Webinar offers insight from industry experts on how to optimize your business’s cash flow. In addition to providing tips to keep your business financially healthy, we will discuss why it’s important to understand your cash budget to make strategic decisions and improve operations. Whether you are a startup or an established small business, learning how to effectively manage your cash flow is crucial to navigating financial challenges and pursuing opportunities that allow for business growth.
 "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 the nation for the second year in a row by Site Selection magazine, topping all states in the survey of corporate real estate executives and site selectors.
- Among the top five most populous states, Texas ranks #1 for the most affordable single family home cost (as of Q3 2024) according to the National Association of Realtors.
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.
Meeting with the Ambassador of Ireland to the U.S.
 In November, Governor Greg Abbott held a meeting with the Ambassador of Ireland to the U.S. Geraldine Byrne Nason and other Irish leaders to discuss strengthening the economic partnership between Texas and Ireland at the Governor’s Mansion in Austin. Read more in the Governor's press release.
 Visit to Corrigan OSB
 In October, Governor Abbott celebrated the grand opening of Corrigan OSB, LLC’s new manufacturing facility in Corrigan. This $211 million expansion is an important investment which will not only have an impact on the local community but will also bolster Texas' strong manufacturing sector. Read more in the Governor's press release.
 Economic Development Mission Follow Up in Taiwan
 In November, EDT Executive Director Adriana Cruz and International Business & Existing Industry Program Manager Shirley Temple traveled to Taipei, Taiwan, to follow up on the recent visit by the Texas delegation led by Governor Abbott. In coordination with the State of Texas Taiwan Office, the group met with business and industry leaders in Taiwan to further expand upon the economic relationship between Texas and Taiwan.
 Governor's Small Business Summit — Wichita Falls
 Honoring veteran-owned businesses and entrepreneurs, the Governor's Small Business Summit — Wichita Falls took place November 14. The event featured a dynamic keynote address from Mike Gabler, Sole Survivor of Survivor 43, Team Never Quit who donated his entire million-dollar prize to veterans support services.
 MEDICA
 In November, our office hosted the Texas Pavilion at MEDICA Trade Fair in Düsseldorf, Germany, with a delegation of Texas businesses representing our state's biotech, life sciences and medical industries. This export assistance opportunity helped connect Texas businesses with potential business partners from around the world.
 Governor's Small Business Summit — Kaufman
 The final Governor's Small Business Summit of the year took place in Kaufman. The event, which offered content for small businesses in all stages, covered a multitude of topics including recruiting and workforce, the trials of entrepreneurship and scaling and branding a business.
Find more photos from Governor's Small Business Summits on Facebook and session recordings on YouTube.
Texas Forest Country Partnership Annual Economic Development Summit
 EDT Executive Director Adriana Cruz attended the Texas Forest Country Partnership (TFCP) Annual Economic Development Summit where she spoke on a panel with Texas Economic Development Corporation President & CEO Aaron Demerson on the latest in economic development in Texas. Special congratulations to TFCP's Nancy Windham for receiving the Silver Bucket award, recognizing her leadership and years of service for the betterment of the Forest Country region!
 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), Texas Music Office (TMO), Tourism 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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