Texas

Sectors it is courting

• Automotive
• Aerospace and Defense
• Energy
• Food and Beverage
• Information and Communication Technology
• Equipment and Machinery
• Cleantech/Clean Energy
• Business and Professional Services
• Chemicals
• Distribution and Logistics
• Financial Services
• Travel and Tourism
• Healthcare
• Media and Entertainment
• Semiconductor

In its own words: Biotech & Life Sciences — typed in free text, so not filterable above.

Investment it is seeking from

• Canada
• Mexico
• Japan
• South Korea
• Taiwan
• Brazil
• India
• Vietnam
• United Kingdom
• Germany
• France
• Italy

Supply-chain projects it is looking for

Active Pharmaceutical Ingredients (APIs), Biotechnology, Broadband, Critical Minerals and Materials, Electric Vehicles (EVs), Large Capacity Batteries, Medical Devices, Semiconductor Manufacturing and Advanced Packaging

Site-selection services it offers

The Texas Economic Development & Tourism Office (EDT), within the Office of the Governor, promotes Texas as a business investment destination and assists with the expansion and relocation of companies from across the U.S. and the world to the state. EDT helps coordinate the site selection process and works closely with local, regional and state economic development partners to connect businesses with the resources needed to be successful in Texas.

Incentive programmes

• Grant

  Texas Enterprise Fund awards “deal-closing” grants to companies considering a new project for which one Texas site competes with other out-of-state sites. The fund serves as a performance-based financial incentive for those companies whose projects would contribute significant capital investment and new employment opportunities to the state’s economy. The Texas Semiconductor Innovation Fund (TSIF) provides grants to state entities and institutions of higher education for semiconductor manufacturing and design projects; and award grants to business entities with an established presence within the state of Texas to encourage economic development related to semiconductor manufacturing and design.

• Tax Credit

  Research & Development Tax Credit: A choice between a franchise tax credit and a sales tax exemption for materials, software and equipment used for R&D purposes.

• Tax Exemption

  State Sales & Use Tax Exemptions for: Manufacturing machinery and equipment, natural gas and electricity and data centers. Texas Jobs, Energy, Technology & Innovation Act (JETI): A new competitive economic incentive program to attract large-scale economic development projects, bringing new capital investment and creating new, high-paying jobs in Texas communities. The program is applicable to manufacturing facilities, dispatchable electric generation facilities, natural resource development facilities, research, development or manufacturing facilities for high-tech infrastructure equipment or technology, and the construction or expansion of critical infrastructure. Qualified projects can apply to the Texas Comptroller of Public Accounts, and with Governor and school district approval, may enter into an agreement to abate 50% of school district property taxes for a specified 10-year period. Applicants are eligible for an additional 25% abatement if locating in an opportunity zone. Pollution Control Equipment Incentive: Tax exemption for property that is for pollution control purposes. Renewable Energy Incentives: Tax exemptions and deductions for solar, wind and biomass. Freeport Exemptions: Tax exemption for certain goods that enter and leave Texas within 175 days. Franchise Tax Exemption for Business Relocation: A relocation and moving expenses franchise tax deduction for companies relocating their main office to Texas.

• Tax Refund or Rebate

  Texas Enterprise Zone Program: State sales and use tax refunds to promote job creation and investment that will assist economically distressed areas of the state.

• Loan/Loan Participation

  The Texas Small Business Credit Initiative (TSBCI) supports state programs that provide resources to assist small business growth and create new jobs through increased access to small business funding. The Texas Micro-Business Disaster Recovery (MBDR) Loan Program was created to facilitate loans from Community Development Financial Institutions (CDFIs) to micro-businesses affected by declared disasters.

• Other

  Economic Development & Diversification In-State Tuition for Employees: In-state tuition rates for employees and family members relocating to Texas with qualified businesses.

Technology-sector sub-sectors sought

AgTech (including FoodTech), CleanTech, eCommerce & Retail Tech, FinTech, HealthTech (including MedTech), ICT (including Software / Cybersecurity / AI)

Programmes for international technology startups

Economic development programs and incentives are primarily driven at the local level in Texas. There are many programs for early-stage companies in diverse communities across the state.

Programmes for international clean-energy projects

Renewable Energy Incentives: Tax exemptions and deductions for solar, wind and biomass.

Incubators and accelerators

• Many

  There are many examples of programs across the state of Texas. One example is IC2 at the University of Texas at Austin is an example of a university program which houses a well-established incubator program. The Austin Technology Incubator (ATI) is the deep technology incubator of The University of Texas at Austin working with university and community entrepreneurs to commercialize their breakthrough innovations. Founded in 1989 at the IC² Institute by Dr. George Kozmetsky, ATI has used a customized approach to support entrepreneurs addressing the world’s most pressing problems by connecting startups with the expertise, relationships, and funding sources needed to succeed in the marketplace. ATI is home to a number of specialized incubators which include – circular economy, energy, food & agtech, healthcare, mobility, and water.

Investor account, as submitted

"Samsung Austin Semiconductor has been proud to call Texas home for more than 25 years," said Dr. Sang Sup Jeong, President of Samsung Austin Semiconductor. "We are excited about our growth and future opportunities in Central Texas and appreciate the support from all Central Texas leaders." "I am grateful to the citizens of Matagorda County for welcoming the first American eFuels facility to the south coast of Texas," said HIF USA CEO Renato Pereira. "We are honored that Governor Abbott could be at this site announcement, demonstrating the commitment the state of Texas has to innovative businesses that will drive the future. Once again Texas has shown its leadership as the heart of America’s energy sector, galvanizing new energy supplies for the United States and the world. We chose this site because of its unique combination of incentive support, available real estate, tax and regulatory stability, and commitment to protecting the environment through responsible and sustainable economic development.” “Our decision to relocate our corporate headquarters to a more central part of the U.S. was a major part of our future business strategy, but which state we would ultimately choose was not,” said Masato Yoshikawa, President & CEO, Kubota Tractor Corporation. “Texas ultimately helped make that decision easier. Their business friendly climate, state incentives and geographical location were important factors in our final decision.” "As one of the world’s largest manufacturers of insulation products and solutions, expanding our North American presence is a top priority for our family’s company," said Knauf Group AG General Partner, Alexander Knauf. "Selecting the City of McGregor and the State of Texas as our next expansion location will position Knauf Insulation to continue to meet the expanding needs of the building industry for the long-term while supporting the economic expansion to this vibrant community. On behalf of our family, I want to thank Governor Abbott and the great people in the McGregor community for being strong partners."

Submitted by the economic development organisation, not independently verified.

Who to contact

• Mr. Larry McManusDirector of Business & Community Developmentlarry.mcmanus@gov.texas.gov(512) 936-0100
• Shirley TempleInternational Team Leadshirley.temple@gov.texas.gov(512) 936-0146

P.O. Box 12428, Austin, TX 78711