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Gov. Perry Highlights Health of Texas Economy at Texas Association of Business Annual Conference

Press Release

Location: Austin, TX

Texas Named 2007 State of the Year by Business Facilities

Gov. Rick Perry today gave the keynote address at the Texas Association of Business (TAB) annual conference, highlighting the health of the state's economy, the importance of a competitive business climate and the challenges businesses face in the area of employee healthcare.

"While other state's economies have contracted, Texas' economy continues to strengthen and expand," said Gov. Perry. "Our educated workforce, reasonable regulatory environment and economic development tools such as the Texas Enterprise Fund give Texas the competitive edge to compete in a global economy."

Gov. Perry also announced Texas was named 2007 State of the Year by Business Facilities magazine. This new award recognizes the state with the most economically significant relocation and expansion projects of the year.

According to Business Facilities, "The Lone Star State certainly earned its designation as the 2007 Business Facilities State of the Year," noting no other state even came close.

Texas was recognized for its top five expansion projects in 2007, which included Rackspace Managed Hosting, with 5,000 jobs; Fidelity, with 1,535 jobs; Maxim Integrated Products, with 1,000 jobs; Fluor Corporation, with 1,000 jobs; and Dimensional Fund Advisors, with 800 jobs. And also for its five projects with the highest promised investment totals including Motiva Enterprises, with $7 billion; NRG Energy, Inc., with $5.4 billion; Eastman Chemical, with $1.6 billion; Microsoft, with $985 million; and CitiCorp, with $450 million.

Four of the largest expansion and investment projects were awarded TEF funds to either relocate or expand their operations in Texas.

"In business if you are not moving forward, you are falling behind. And in Texas, business is definitely moving forward thanks to the smart, competitive employers across the state that strive every day to succeed," Perry said.

Gov. Perry acknowledged the issue of healthcare, how to pay for it, how much to provide, and how to succeed in business while doing so is one of the most pressing issues of our times because it lies at the intersection of genuine human need and market forces that have been greatly tampered with by government.

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