Gov. Rick Perry today announced the state is investing $2.8 million through the Texas Enterprise Fund (TEF) in eBay Inc. for the expansion of its Austin facility. This investment will create 1,050 high-paying jobs and generate an estimated $5.1 million in capital investment.
Recently, Governor Perry announced that idX Corp. would build a manufacturing facility in Cuero and create 125 jobs because of an investment by the Texas Enterprise Fund.
"To have an international company of the stature of idX locate here is a testament to Cuero's pro-business climate and commitment to manufacturing," Cuero Development Corporation Executive Director Randall Malik said. "Our ideal location for manufacturing and the Texas Enterprise Fund played a significant role in idX's decision to locate in Cuero."
At a ceremony in Richardson, Governor Perry announced a new corporate headquarter in Texas that will create more than 400 jobs.
"I have the great privilege today to announce Richardson will be home to the new corporate headquarters for Virtual Computing Environment, with a $2.45 million Texas Enterprise Fund investment helping close the deal that will bring hundreds of new jobs to town."
Federal Reserve Bank of Dallas economists said Thursday that Texas could add 261,000 to 374,000 jobs this year, growing between 2.5 and 3.5 percent, based on movements in leading indicators. At that pace -- Texas jobs are already growing about 2.5 percent annually -- the state's unemployment rate could drop to 7 percent by year's end, economists Keith Phillips and Emily Kerr said in the bank's latest edition of Southwest Economy.
Separately, the Texas Workforce Commission said the state added 44,100 jobs in January from a month earlier, moving to just under 10.5 million. The growth was led by trade, transportation and utilities.
Governor Perry delivered his State of the State address this week, proposing to consolidate or suspend non-critical state agencies in order to make state government more streamlined and efficient. The governor also outlined his priorities for the 82nd Legislative Session, including balancing the budget without raising taxes, preserving essential services, and strengthening Texas' position as a national economic leader through sound policies. Check out the Governor's entire State of the State address below.
Four Texas metropolitan areas — Houston, Austin, Dallas and San Antonio — dominate the top 15 U.S. cities in a global study to determine the level of cities' recovery from the recession.
The Brookings Institution Metropolitan Policy Program report ranks 150 cities: 50 in the United States, 50 in Europe and 50 in the rest of the world. Austin was the highest-ranked U.S. city and No. 26 in the world. Dallas ranks as the No. 4 U.S. city and No. 39 in the world. San Antonio ranks No. 11 in the U.S. and No. 51 in the world.
Houston is ranked No. 15 in the U.S. and No. 61 in the world, according to the report, Global MetroMonitor, which received assistance from the London School of Economics and Political Science.
San Antonio, Houston and Dallas rose in global rankings during the past two years from their pre-recession rankings. Austin stayed about the same, ranking No. 25 among the 150 metro areas before the recession.
The report found that income and job growth in metro areas exceed those of their nations as a whole, which means large cities are leading the global recovery from the 2007-09 recession.
Where can you go to escape the recession? Try any of these 10 places. Oh, and be prepared to wear red.
Like a massive tornado, the Great Recession up-ended the topography of America. But even as vast parts of the country were laid low, some cities withstood the storm and could emerge even stronger and shinier than before. So, where exactly are these Oz-like destinations along the road to recovery? If you said Kansas, you're not far off. Try Oklahoma. Or Texas. Or Iowa. Not only did the economic twister of the last two years largely spare Tornado Alley, it actually may have helped improve the landscape.
NEWSWEEK has compiled a list of the 10 American cities best situated for the recovery. These are places where the jobs are plentiful, and the pay, given the lower cost of living, buys more than in bigger cities. In other words, places unlike much of the rest of the country. The cities, most of which lie in the red-state territory of America’s heartland, fall into three basic groups. There's the Texaplex—Austin, Dallas, San Antonio, and Houston—which has become the No. 1 destination for job-seeking Americans, thanks to a hearty energy sector and a strong spirit of entrepreneurism. There are the New Silicon Valleys—Raleigh-Durham, N.C.; Salt Lake City; and urban northern Virginia—which offer high-paying high-tech jobs and housing prices well below those in coastal California. And then there are the Heartland Honeys—Oklahoma City, Indianapolis, and Des Moines, Iowa—which are enjoying a revival thanks to rising agricultural prices and a shift toward high-end industrial jobs.