Doing Business in Texas
The Lone Star State Advantage
- Texas has the second largest civilian workforce in the nation with 11.3 million workers.
- Texas shares more than 1,250 miles of border with Mexico, making the state a major gateway to trade with Latin America. An estimated 70 percent of the United States’ commerce with Mexico travels through Texas.
- For the past five years, the Lone Star State has exported more goods and services than any other state in the nation.
Don’t Like High Taxes? Come to Texas!
- Texas has one of the lowest tax burdens in the U.S., ranking 49th nationally by total tax per
- capita in 2005.
- No personal income tax.
- No state tax on goods in transit.
Power to Spare
- Texas is the only state with its own power grid. Our state boasts one of the most robust, well-functioning electric markets in the world, and has ambitious energy grid expansion plans to keep up with the state’s projected growth.
- Texas currently leads the nation in renewable resources and is ranked first in production of wind power.
Millions of Dollars Awarded by Texas Emerging Technology Fund
The Texas Emerging Technology Fund (ETF) is designed to create jobs and grow Texas’ economy over the long term by expediting the development and commercialization of new technologies, and attracting and creating jobs in technology fields.
The ETF focuses on the three investment areas:
- Increasing research collaboration through new Regional Centers of innovation and Commercialization.
- Matching research grants funds.
- Attracting more top-notch research talent.
The ETF has awarded millions of dollars to emerging technology companies for commercialization; universities and consortiums to accelerate commercialization; attract globally recognized top-talent to Texas universities, leverage regional technological expertise to address national challenges. Visit www.emergingtechfund.com for more information.
Texas Enterprise Fund Awards Surpass $300 Million
The Texas Legislature established the Texas Enterprise Fund (TEF) to provide financial resources to help strengthen the state’s economy. Since its inception, more than $300 million has been awarded through the TEF. These grants will result in more than $15 billion in capital investments in the state and will create more than 40,000 jobs. Visit www.texaswideopenforbusiness.com for more information.
Information on this page was obtained from www.texaswideopenforbusiness.com