Texas Governor Greg Abbott highlighted Texas’ robust job growth and economic development opportunities at a recent luncheon held by the Fort Worth Chamber of Commerce.
Governor Abbott’s address to the Fort Worth business community included a variety of topics, such as economic development issues and initiatives, education, job growth, and property tax relief.
“Texas’ economy is working for all Texans,” Abbott claimed during Wednesday’s luncheon attended by The Dallas Express. “To ensure this continues and that Texas remains America’s job and economic engine, we must pass economic development programs that incentivize both small and large businesses to come to businesses in the state.”
In terms of economic development, Governor Abbott recognized Texas A&M’s expansion in Fort Worth, which he said was “a testament — in part — to the ingenuity and determination of people in this room.”
“This new campus will redefine downtown Fort Worth by bringing more research and development opportunities, new businesses and investment, and an abundant workforce to the area,” Abbott said. “Fort Worth is a big part of the Texas economic juggernaut, and its success has been aided by strategic economic development tools — and to keep Texas the best state for business, our local communities need new economic development tools this session.”
To do this, Abbott said he is seeking to pass regulatory reform during Texas’ 88th Legislature.
“If Texas succeeds, all regions in the state must be successful,” said Abbott. “That is what we are trying to achieve with economic development in Fort Worth.”
Abbott was also optimistic about the potential contributions of Texas Economic Development Corporation President Robert Allen.
“With the recent relocation of our Economic Development Corporation (EDC) President Robert Allen to the Fort Worth Economic Development Partnership, he is sure to help spur even more economic growth using all the contacts and resources he’s amassed during his time at the EDC,” Abbott told the Fort Worth business community during the luncheon.
With more Fortune 500 companies relocating to Texas than any other state, and North Texas receiving the bulk of these companies, Abbott stressed that Texas needed to continue to make policy decisions that lead to economic success. In most cases, companies relocate to Texas for a lower cost of living and access to a highly educated workforce.
On the subject of property tax relief, Abbott said he plans to reward Texas homeowners with the “largest property tax cut in the history of the state.” He said he plans to do this using the state’s roughly $35 billion budget surplus, which Abbott noted was “larger than any other state in the U.S.”
In terms of the state’s infrastructure, Abbott says that Texas needs to work on strategies that increase energy capacity.
“Around 1,500 people move to Texas every single day, and that puts stress on the infrastructure,” said Abbott.
Despite this rapid growth in the state and the metroplex, Dallas actually lost almost 16,000 residents from 2020 to 2021, amid crises of crime, homelessness, and vagrancy, as well as concerns about Dallas Independent School District and the functions of City government more broadly.