Posted on: June 22, 2016

Governor’s Office Fields Economic Development Questions, Decatur, TX

2015-GovernorAbbott-PortraitAs part of our special report on corporate relocation and expansion, the Dallas Business Journal submitted several questions to Texas Gov. Greg Abbott and the Office of the Governor. Here was the response from the governor’s office:

What is the Dallas-Fort Worth area’s role in the statewide economic development landscape?

The Dallas-Fort Worth area is representative of Texas’ economic diversity and is a large part of why Texas has continued to attract businesses and create jobs despite the downturn in oil. From technology to manufacturing to financial services, the Dallas-Fort Worth metroplex has seen enormous growth due in large part to its quality workforce, superior logistics and low cost of conducting business.

How do you, as governor, evaluate whether the economic incentives offered or awarded to relocating companies are working for maximum impact in Texas?

The Texas Enterprise Fund has established and thorough procedures in place to ensure a full return on the state’s investment. Each applicant to the fund undergoes a thorough 11-step due diligence process. Corporate activity, financial standing, tax status, legal issues, credit ratings, and estimated economic impacts, as well as the business climates of competition locations, are assessed for each project and taken into consideration for all award decisions. Award dollar amounts are determined using a standardized analytical model applied uniformly to each TEF applicant. This model assures that the State of Texas will see a full return on its investment within the period of a project contract, due to the resulting increase in estimated sales tax revenues.

What are your 2016 and 2017 goals, statewide, for recruiting new companies to Texas? Please quantify.

Texas will continue to build on the successes that recently had us ranked as the Best State for Business for the 12th year in a row by Chief Executive Magazine. The Governor’s successes during the 84th Legislative Session will help spur a new era of economic expansion in Texas and we hope to continue those efforts into the 85th Session. Since last session, the Governor cut the burdensome business franchise tax and property taxes by nearly $4 billion, freeing businesses and homeowners to invest more in new jobs, higher wages and stimulate the Texas economy. There are no limits on how many businesses and jobs we can bring to Texas.

See full article in Dallas Business Journal.

Facebook Twitter Google Plus Email

Other News in Home

Company donates shoes to storm victims.

Posted on: October 10, 2017

Drought conditions increase fire risk.

Posted on: December 7, 2017

Santa visits Neighborhoods

Posted on: December 13, 2017

Protecting square from fire

Posted on: January 4, 2018

10 ways to help the flood victims

Posted on: September 4, 2017

Decatur ISD sets tax rate, approves budget

Posted on: September 8, 2017

5 things to know in Texas energy this week

Posted on: September 12, 2017

United Way kicks off fundraising campaign

Posted on: September 14, 2017

PD Recognizes Local Businesses

Posted on: September 18, 2017

Decatur EDC plans land purchase

Posted on: October 2, 2017

Company donates shoes to storm victims

Posted on: October 3, 2017

Ribbon Cutting for Sands Company Today

Posted on: August 29, 2017

Call 811 before digging

Posted on: August 15, 2017

Wise named Purple Heart County

Posted on: July 17, 2017

Women-Owned Businesses in Texas

Posted on: June 16, 2017

Grants Available in Texas

Posted on: June 14, 2017

Texas Employment Forecast

Posted on: May 19, 2017