Population: 195,342 Workforce: 496,793No State Personal Income Tax No State Corporate Income Tax Population Growth (99-19) 327% Bachelor’s Degree or Higher: 45%5900 S Lake Forest Dr. McKinney, TX 75070 972-316-7076C ONTE NT S TEXAS 2021-22 Edition |Volume 12 E C ONO M I C DE V E L O P M E N T GU I DE BUSINESS CLIMATE 10 Cover Story: Gone to Texas Three key motivations lead companies to move their operations to Texas. 14 Economic Overview Economic expert M. Ray Perryman shares his insights into the state’s continued growth in a wide range of industries. 18 Interview: Gov. Abbott A candid interview with Gov. Greg Abbott regarding the pandemic and the state’s windfall year. 22 Interview: Adriana Cruz As a key leader in Texas’ economic development efforts, Adriana Cruz explains what makes Texas the land of opportunity and freedom. 26 Interview: Aaron Demerson Texas Workforce Commissioner Aaron Demerson discusses how the state provides workforce development services available to employers and job seekers across the state. 28 FDI & Exports FDI in Texas creates new jobs and opportunities across industries. 31 Texas By the Numbers The Lone Star State according to facts and fi gures. 34 Entrepreneurship & Innovation Innovation abounds in Austin’s Silicon Hills as multiple new tech leaders enter the fi eld. 2 TE X A S E C ONOMI C D E V E L OP ME NT G U I D E38 Higher Education Texas’ six university systems offer unique advantages for industry and employees alike. 42 Workforce Resources Higher education leaders across the state are helping Texans reskill and upskill following the pandemic. 50 Corporate Headquarters A slew of tech giants have relocated their corporate headquarters from Silicon Valley and other tech clusters in favor of Texas. INDUSTRY PROFILES 53 Renewable Energy & Electric Utilities Key signs point to Texas’ leadership in the renewable energy sector. 58 Oil & Gas Texas is the No. 1 state for petroleum — by a long shot. 60 Automotive Manufacturing Tesla’s massive Gigafactory outside of Austin is just one of many vehicle manufacturers recently driven to the Lone Star State. 63 Logistics & Distribution Amazon’s deep footprint in Texas leaves a meaningful impression about the state’s logistical advantages. 66 Advanced Manufacturing Manufacturing titans like GM, 3M, Samsung, Toyota, Ericcson, Lockheed Martin, Raytheon — and now Tesla — all call Texas home. 70 Cybersecurity Port San Antonio expands its campus to accommodate a wave of new cybersecurity and technology fi rms. 72 Biotechnology Thanks to the presence of Texas A&M, the Brazos Valley is quickly becoming a key cluster for biotechnology. 76 Technology Tech leaders choose Texas for locations over traditional coastal tech hubs. 78 Agribusiness & Food Processing As more employees work from home, food producers see increased demand for products. 80 Aerospace, Aviation & Defense With its legacy in aerospace and aviation, the Lone Star State is home base for space exploration. 4 TE X A S E C ONOMI C D E V E L OP ME NT G U I D E 46 INVESTMENT PROFILE: Terrell, Texas Several family-owned companies have recently located to Terrell for its pro-business climate and skilled workforce. 68 INVESTMENT PROFILE: Abilene, Texas With room to grow and access to metro markets, Abilene draws companies to Northwest Texas. Next >