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Dear Texas Economic Development Stakeholders,
Economic opportunity abounds in Texas! In fact, the Lone Star State's economy grew at a faster rate than the nation as a whole for quarter four of 2024. And according to the latest jobs data from March, Texas was #1 in the nation for jobs added over the last 12 months.
We are also proud to share that Texas was once-again named the Best State for Business by Chief Executive magazine now for the 21st year in a row! This ranking is based on a survey of the nation's leading CEOs and their assessment of business climate, workforce and quality of life.
AND we are celebrating Texas winning the 2025 Prosperity Cup from Site Selection magazine, which is awarded to the top-performing state for attracting new business investments. We’re honored to win the “Triple Crown” in award designations from this publication, having been named the Best Business Climate in the nation, won the Governor’s Cup and now winning the 2025 Prosperity Cup!
As a leader in economic resiliency and optimism, it's clear that Texas is the future of global business! You can check out our recent story in Trade & Industry Development Magazine to read more on why so many businesses from across the country and around the world are choosing to call Texas home.
Upcoming this month, we are looking forward to highlighting Small Business Week and Economic Development Week in Texas! See below for more on how to join in the celebration.
Also in this issue of the Texas Business Bulletin, you'll find a spotlight on how Texas is driving America's automotive manufacturing industry, our economic snapshot, recent meetings, upcoming events and project announcements from 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.
Thanks for all you do on behalf of the great state of Texas!
-Adriana Cruz, EDT Executive Director
  Unemployment Rate: 4.1%
Workforce: 15.7 million
Jobs Added in March: 26,500
Blueprint to build a stronger Texas of tomorrow
Texas has enjoyed extraordinary economic success in the past decade. The new "Bigger. Better. Texas.” Economic Development Strategic Plan helps position Texas to capitalize on our success and capture the promise of our future economy in order to maintain our competitive edge in the years ahead.
Our vision is simple: ensure Texas remains the premier place to visit, live, work and grow a business. And it will take all of us to ensure Texas’ regions, industries and residents continue to thrive for years to come.
Everyone has a role to play in building our future economy. We welcome and encourage the many individuals and organizations who are driving growth in the state to join us in this effort to build a bigger, better Texas for decades to come!
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Our office develops in-depth reports, publications, infographics and maps highlighting the Lone Star State's best assets for business and targeted growth sectors. Check out the latest Reports & Publications on our website.
Texas Business Incorporations Snapshot
Already the official Headquarters of Headquarters, and a leading financial services location, Texas is also becoming an increasingly popular place for businesses to incorporate. Read more in our Texas Business Incorporations Snapshot!
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Texas Aerospace, Aviation & Defense Industry Report
The Texas aerospace, aviation and defense industry is known for its rich history in human air flight, world-renowned accomplishments in space exploration and groundbreaking innovations that propel this sector into the future. Read more in the Texas Aerospace, Aviation & Defense Industry Report!
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Join us in celebrating Small Business Week and Economic Development Week in Texas! Stay tuned for more information and be sure to sign up for our newsletters and follow us on social media for additional details on how to get involved.
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Small Business Week in Texas I May 4-10: Celebrates the bold spirit and resilience of Texas entrepreneurs. Making up more than 99% off all businesses, and employing nearly half of all working Texans, small businesses are the driving force behind Texas' leadership in job creation and economic resilience. Download the official Small Business Week in Texas badge.
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Economic Development Week in Texas I May 12-16: Highlights the team effort behind our state’s record-breaking success in economic development and celebrates the statewide, regional and local economic developers who work to create new jobs, advance economic opportunities and improve quality of life of all Texans. Download the official Economic Development Week in Texas badge.
Driving the Future of American Auto Manufacturing
“Made in Texas” is a powerful global brand, and that's especially true when it comes to the automotive manufacturing industry. More than 730 auto manufacturing facilities are already located in Texas and additional companies are moving or expanding to Texas at a rapid pace. Due to auto industry growth, the state has experienced a 48% increase in auto manufacturing output since 2015. Not to mention, Texas ranks #2 in the U.S. for auto exports, including motor vehicles, bodies, parts and trailers.
Texas advantages at-a-glance:
- A highly skilled, diverse and growing advanced manufacturing workforce
- Expanding supplier ecosystem
- Location and logistic advantages, by land, air and sea
- State-of-the-art infrastructure networks
- A right-to-work state
- Faster permitting and room to grow
- Companies do not incur tariffs when manufacturing and sourcing products from Texas or the U.S.
Many companies on Fortune’s Global 500 list have headquarters or major operations in the state, such as Toyota, General Motors, Toshiba, Caterpillar and Tesla. The General Motors automobile factory in Arlington has been in operation for more than 70 years. In addition, Peterbilt and DeLorean Motor Corp have long-established operations in the state.
Other global brands have made major investments in the auto industry in Texas. The Tesla Gigafactory in the Austin area helped solidify Texas as an auto manufacturing mecca. Toyota’s manufacturing facility in San Antonio has produced trucks and SUVs for nearly two decades. Other companies with major investments in Texas include East Penn Manufacturing Co., International Motors, Continental Automotive, Vehicle Accessory Group and Saleen Performance Parts.
Driven by increasing demand, the list of suppliers locating and expanding in Texas is growing, and includes Aisin Texas, which opened their manufacturing facility in Cibolo in 2021 to produce automatic transmissions for Toyota’s trucks and hybrids; CKD Corporation, which established its first U.S. production site in Austin; and many others.
Read more in our Automotive Manufacturing Snapshot.
We hope that you'll join us at a Governor's Small Business Summit near you! Take your entrepreneurial journey to new heights by connecting with resources and information to help start, strengthen and grow a business in Texas. These events bring together local, state and federal resource partners to provide key insights on critical business topics. There's also opportunity to network with other business owners and hear from subject-matter experts to gain timely, relevant and actionable advice.
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May 15: Governor’s Small Business Summit — Denison
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May 29: Governor’s Small Business Summit — Sugar Land
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June 12: Governor’s Small Business Summit — Hays County
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June 26: Governor’s Small Business Summit — Bastrop
   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 are found only in Texas. 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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Nasdaq in Dallas: Nasdaq announced a new regional headquarters in Dallas, adding to Texas' already robust financial services sector.
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TMEIC in Waller County: TMEIC Corporation Americas will construct a new uninterruptible power supplies and medium voltage drives manufacturing facility in Waller County. The project will create 62 new jobs to start and generate more than $65 million in capital investment. A Texas Enterprise Fund (TEF) grant of $368,838 has been extended to the company.
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SpaceX in Bastrop: SpaceX was awarded a Texas Semiconductor Innovation Fund (TSIF) grant for the expansion of its semiconductor R&D and advanced packaging facility in Bastrop, expected to create 400+ jobs and more than $280 million capital investment. Over the next three years, SpaceX’s Bastrop facility will expand by one million square feet to produce component parts, including advanced packaged silicon products.
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Schneider Electric in El Paso: Schneider Electric will expand their electric equipment manufacturing facility in El Paso, creating 300 new jobs. The company was extended a TEF grant of $1.5 million.
- KoMiCo in Round Rock: A TSIF grant was extended to KoMiCo Technology, Inc. for their facility in Round Rock that provides precision cleaning and coatings for semiconductor wafer manufacturing tools. The expansion is expected to create 70 new jobs and $36 million in capital investment.
- DSM in Plainview: A TSIF grant was extended to DSM Semichem LLC for an expansion of their specialty materials and chemicals facility in Plainview. The facility to $176 million and creates 40 new jobs
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NVIDIA Corp. in Texas: NVIDIA announced two new supercomputer manufacturing facilities in Texas, in partnership with Foxconn in Houston and with Wistron in Dallas.
In Texas, everything is big—that includes small business! Home to more than 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.
  "It ain't bragging if it's true!" Here are some of the recent accolades Texas has received:
- Texas was named the Best State for Business by the nation's top CEOs—now for the 21st year in a row (Chief Executive).
- Texas claimed the 2025 Prosperity Cup from Site Selection magazine for our competitiveness in attracting facility announcements, capital investment and new jobs.
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Texas received three 2025 Corporate Investment & Community Impact Awards from Trade & Industry Development: Walmart in Robinson, Eastman Chemical Company in Longview and Delta Electronics in Plano.
- Austin, Fort Worth, Arlington, Dallas, Irving, Garland, Lubbock, Houston and more Texas cities rank among WalletHub's Best Large Cities to Start a Business.
- Texas cities are among the hottest destinations for college-education Americans to relocate: Dallas, Houston, Austin, San Antonio, El Paso and McAllen (Axios).
- Texas cities dominate the list of Hardest-Working Cities in the U.S. In fact, Irving, Dallas, Austin, Arlington, Plano, Corpus Christi, Laredo and Fort Worth are all among the top 20 (WalletHub).
- Texas female-founded companies raised $1.3 billion in 2024 (Culture Map).
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.
The EDT team has participated in various meetings, events and interactions with our economic development partners throughout the start of the year! Here's a selection of just a few of the many recent activities. To see more updates from EDT Executive Director Adriana Cruz, check out her weekly updates on LinkedIn!
Meeting with Governor Hideaki Ohmura, Aichi Prefecture
 Governor Greg Abbott hosted Governor Hideaki Ohmura from Aichi Prefecture, Japan, at the Governor's Mansion in Austin to follow up on the 2024 Texas Business Development Mission to Japan led by Governor Abbott where Aichi Prefecture and Texas renewed their Statement of Mutual Cooperation.
 "Another Week of Available Work" Podcast
 EDT Executive Director Adriana Cruz joined Commissioner Joe Esparza with the Texas Workforce Commission on his podcast "Another Week of Available Work" to talk about how Texas leads in economic development. Find the full podcast and listen to the discussion on Spotify.
 Texas Consular Corps
 Executive Director Cruz spoke to the Texas Consular Corps in Austin this March for a forum hosted by Secretary of State Jane Nelson. Consul Generals and Honorary Consuls from around the world attended the forum and a reception hosted by Governor Abbott at the Governor's Mansion to learn about the Texas economy. Cruz spoke about the international programs and initiatives offered by EDT's International Business & Trade team and Texas' prowess as a leader in global business.
 LS Electric Groundbreaking
 Executive Director Cruz attended the groundbreaking of LS Electric's new manufacturing facility in Bastrop. As a provider of power devices, systems and automation solutions, LS Electric's facility reinforces Texas' leadership in the semiconductor and electric vehicle industries.
 Interested in working with the best state economic development team in the country and helping grow the Texas economy? Come join our team! There are multiple positions for experienced professionals in Business & Community Development (BCD) 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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