$30 Billion Capital Expenditures tidal wave top five job-creating projects net nearly 15000 new Texas jobs
WASHINGTON D.C. (Texas Insider Report) As we ring in 2020 its time to acknowledge that Texas has been by far the most prolific economic development success story of the decade just ended" said Business Facilities Editor in Chief Jack Rogers while announcing that the Lone Star State had been named its 2019 State of the Year becoming the first state to win the honor four times.
Business Facilities is a national publication that has been the leading location source for corporate site selectors and economic development professionals for more than 50 years.
Rogers said Texas business-friendly climate and aggressive targeted incentives have enabled the state to establish leadership positions in high-tech industries in all parts of the state including:
- Cyber-security in San Antonio
- Semiconductor fabrication in Austin and
- One of the largest data center hubs in North America in Dallas-Fort Worth
The top five 2019 Texas projects brought a tidal wave of more than $30 billion in Capital Expenditures to Texas and netted nearly 15000 direct new jobs.
With a rapidly expanding skilled workforce and leadership in a diversified set of growth sectors Texas will be sitting tall in the saddle for years to come" said Rogers.
The biggest job-creating projects in Texas included Ubers new Administrative Hub in Dallas and a $1-billion investment by Apple in metro Austin.
- Ubers facility at a new office tower is expected to create 3000 new jobs.
- Apple is planning to hire 5000 new employees for its new campus in northwest Austin the second campus the tech giant has established in the Texas capital.
Two mammoth LNG projects topped the list of major investments in Texas.
Construction is scheduled to begin this year at the $15-billion Rio Grande liquefied natural gas export terminal in Brownsville which will feature six LNG production units capable of producing more than 16 metric tons of LNG annually (the LNG production units are being designed to withstand hurricane-force winds of up to 150 miles per hour).
A second major LNG export facility Port Arthur LNG has received the green light from the Federal Energy Regulatory Commission to begin construction at the Jefferson County site.
These LNG export facilities ensure that Texas maintains its grip on the top spot among exporting states in the 2020s as it did throughout the first decade of the 21st century" said Rogers (right.)
Texas has been the top state for exports for 15 consecutive years.
Even if you take the oil and gas projects off the board Texas brought in billions in capital investment for other growth sectors" added Rogers.
The top projects in Texas included:
- Texas Instruments commitment to build a $3.1-billion semiconductor chip fab in Richardson and
- Steel Dynamics new $1.9-billion steel mill in Sinton.
The Lone Star States dominance of the economic development landscape was again reflected in BFs annual State and Metro Rankings Reports in 2019. Texas notched top-10 results in 15 categories in BFs 2019 State Rankings Report; Texas was BFs top-ranked state in Installed Wind Power Capacity FTZ Activity (Imports and Exports) and Cyber-security Growth Potential.
Following Business Facilities announcement of the Lone Star States record-setting fourth State of the Year designation Gov. Greg Abbott said:
The Texas success story is just beginning. Thanks to our unrivaled workforce and our commitment to economic freedom Texas continues to shine as Americas center for job creation innovation and economic development.
I thank Business Facilities for this incredible honor which is a testament to the hard work and dedication of Texans throughout the state including our local economic development teams.
We will continue to cultivate an environment of economic growth and opportunity that creates a brighter future for every Texan" said Abbott.
During an interview earlier this week on News Radio 1080am KRLD in Dallas-Fort Worth Rogers characterized the magazines designation of Texas as its 2019 State of the Year as a fitting coda for a decade of dominance in economic development by the Lone Star State.
Business Facilities doesnt have a State of the Decade Award but if we did Texas would be the hands-down winner" Rogers told KRLD News Anchor Chris Sommers in an interview heard throughout the state on the Texas State Networks.
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