How an infectious attitude changed one leader forever.
One reason Texas maintains a commanding position nationally and globally is because it operates a unique public-private partnership that serves as the primary economic development marketing and promotion arm for the Lone Star State.
The Texas Economic Development Corporation (TxEDC), whose board is appointed by Governor Greg Abbott, is an independently funded and operated 501(c)(3) nonprofit organization responsible for marketing and promoting Texas, both domestically and internationally, as a premier business location. Along with the Governor’s Texas Economic Development & Tourism Office, these two highly focused organizations comprise the foundation of the governor’s economic development agenda.
Through national and international investment attraction missions, industry events, media relations, advertising and other programs, TxEDC touts Texas’ business advantages to a target audience of corporate decision-makers and site selection consultants. TxEDC markets the state through four primary means:
- Establishing a statewide network of business leaders to stimulate job-creating investment in Texas.
- Executing a plan to market Texas across the U.S. and globally as the destination of the future.
- Expanding the state’s presence with national and international trade visits.
- Elevating and promoting economic growth of existing business and regions throughout Texas.
Financial support for TxEDC comes from many organizations, Fortune 500 companies and privately held enterprises throughout the state. At the helm of the Board of Directors of TxEDC is Chairman Arun Agarwal, an accomplished entrepreneur and textile executive who moved to Texas in the 1990s to build a successful career and launch multiple companies.
Dallas-based Agarwal is the CEO of Nextt and has business interests in textiles, cotton trading and real estate. He is chair of the India American CEO Council, president of the Dallas Parks & Recreation Board and a board member of the U.S. India Friendship Council, U.S. India Chamber of Commerce DFW and the Texas Tech Innovation HUB at Research Park. We recently caught up with Agarwal for a discussion about his leadership role in promoting economic development in Texas.
You like to say that you were born in India but made in Texas. How has Texas shaped your life and career?
AGARWAL: I came to Texas as a young professional. That can-do attitude and can-do spirit of Texas has become part of my DNA. There is nothing that can stop you if you embrace that attitude and spirit. I have passed that on to my daughter too. As Texans, it is our job to embrace that philosophy, pass it on to others and keep it going.
“I came to Texas as a young professional. That can-do attitude and can-do spirit of Texas has become part of my DNA. There is nothing that can stop you if you embrace that attitude and spirit.”
— Arun Agarwal, Chairman, Texas Economic Development Corp.
You are a great example of entrepreneurial leadership migrating to Texas. Why do you think so many people from around the country and the world continue to move to Texas?
AGARWAL: When I moved here, I moved at a time when a job change dictated where people would go in America. Today, times have changed. Now, employees are going where they see open green spaces, good sports teams, quality education and a high quality of life. Employees are going where they want to live first and foremost. People today have choices, and they are moving to Texas because they can have a better lifestyle here. Recently, I met someone who had moved from Dallas to San Diego. When I saw him, he said, “I have had enough of California. I am ready to come back to Texas. This is where I want to live.” I think that for many people, there comes a moment when reality sets in. The beaches will keep you in California for only so long. Eventually, you want to come back to Texas.
What attracted you to the leadership post at TXEDC?
AGARWAL: I was not seeking it. When the Governor asked me to take the job as chairman of the Texas Economic Development Corporation, I was humbled and honored. Texas truly needs to be bold. Texas has so much to offer, and I wanted to help the Governor share this story at home and abroad. “Broken but Unbowed” is his story, but it is also my deep motivation. Texas has an amazing story to share with the rest of the world.
What is it about the Texas business climate that appeals to so many business leaders? How does Texas leverage its strengths to form a competitive advantage when it comes to recruiting businesses from other locations?
AGARWAL: One CEO recently told me that the workforce is reducing in New York and increasing in Texas. Supported here by quality of life, great colleges and sports teams, and tremendous airports and research institutes, Texas is seeing more and more people choose to live and work here. Elon Musk is a classic example. There is a reason he moved to Texas. Good economic policies keep on giving. We have the best tax rates, with more tax cuts on the way. Texas is defined by great leadership.
How has winning 14 consecutive Governor’s Cup awards from Site Selection Magazine shaped the perception of Texas as a business destination globally?
AGARWAL: We have that classic saying: It is easy to get to the top, but it is hard to stay there. That is what motivates us in Texas. Aaron Demerson is an amazing leader at TXEDC. Adriana Cruz is an excellent leader at the Texas Economic Development & Tourism Office. We have reached this lofty benchmark of being No. 1 in the nation, and we will work very hard to maintain it.
What are your organization’s top priorities for the coming year?
AGARWAL: It all comes down to doing whatever we can to support economic development. We will continue to attract corporations that are located in other states. We will work to do that globally as well. It starts by keeping the Texas name up front. We keep reminding people that we have a very diversified economy with leadership positions in artificial intelligence, semiconductor manufacturing, data processing and sustainable energy. We are No. 1 in the nation in both solar power and wind energy. Texas also has a diversified portfolio of successful companies. Texas pushes you to be successful.
What do you think is Texas’s best-kept secret?
AGARWAL: I believe it is the fact that you can drive for 12 hours and still be in Texas. That is the enormous size of Texas. But we also have the leadership to provide the best business environment in America. Texas is open for any size of business. Come try it for yourself.
