Site Selection Magazine announced that for the 9th consecutive year, Texas is the winner of the Governor’s Cup. The Governor’s Cup is awarded to the state landing the most economic development projects in the previous year. In the seventeen years since 2004, Texas has won the cup twelve times and finished second four times. But the state has not always been so successful.
Texas won the cup in 1992 but did not win the cup again until 2004. During that time, school districts were not allowed to participate in economic development incentives. After the Texas Legislature approved Chapter 313 of the tax code, allowing school district participation again, Texas regained the Cup and began the string of 17 great economic development years.
The Legislature is considering reauthorizing Chapter 313 with some modifications in this legislature. If not reauthorized, it sunsets in 2022. Will history repeat itself and Texas lose economic development projects to other states without Chapter 313? Hopefully the members of the Legislature are pondering this question.
The Governor’s office distributed this press release: “I am proud to accept the Governor’s Cup for a ninth-year in a row on behalf of the business owners, entrepreneurs, and skilled workforce that keep Texas the economic engine of America,” said Governor Abbott. “This record-breaking achievement would not have been possible without the local, regional, and statewide economic development teams who work to expand economic opportunity in Texas, nor would it have been possible without the companies that choose to invest and create more jobs throughout our state. Despite the challenges faced from the COVID-19 pandemic, we’ve seen what Texas can achieve when we foster an environment that empowers people to succeed. The Texas model continues to inspire entrepreneurs and innovators and attract job creators from across the country, and I look forward to spurring more job growth and opportunity for all Texans in every corner of our great state.”
He might also have thanked the Legislature for the vision to create Chapter 313 making Texas more competitive for economic development projects.