< Previous6 TEXAS ECONOMIC DEVELOPMENT GUIDE 64 Life Sciences and Biotechnology The Texas Medical Center is a beacon to the world when it comes to providing world-class health care and cutting-edge biotech. 74 PetroleumRefi ningand Chemicals No one does oil and gas better than Texas. A long track record of world-leading production proves it. 80 Professional Services and CorporateOperations How Texas became the Headquarters of Headquarters and home to the all-new Texas Stock Exchange. 83 Rare Earth Elements and Mineral Mining Texas is poised to lead the future in many industries because the state is carving out a global leadership position in rare earth mining. 86 Transportation and Logistics Whether by road, rail, air or waterway, Texas leads all challengers in delivering products to market. Region Profi les From Amarillo to the Rio Grande and from El Paso to Longview, Texas boasts 10 vast regions, each one uniquely positioned to serve the needs of expanding businesses. 83 86 64 74 928 TEXAS ECONOMIC DEVELOPMENT GUIDE Features 110Bigger. Better. Texas. A Blueprint for the Future A new Statewide Economic Development Strategic Plan aims to unify Texans around a common goal: Ensure that Texas remains the best state for business into the year 2030 and beyond. 120 International Trade & FDI How does the top exporting state for 23 years in a row keep leading America in foreign trade? The answer: It never stops opening doors. 126 Governor’s Small Business FreedomCouncil Small business owners operating in the best state in the nation for small business now have a new ally in the fi eld. 128 TxEDC Investor Profi le How Combined Arms helps veterans while supporting the efforts of TxEDC. 130 Photo Gallery Welcome to Texas. The Lone Star State star has never shone brighter. 136 Index to Advertisers 110 126 128 130 116 116 City of Terrell, Texas Investment Profi leThe publishers believe that the information contained in this publication is accurate. However, the in formation is not war ranted, and neither Conway Data, nor Texas Economic Development Corporation, assumes any liability or responsibility for actual, consequential or incidental damages re sulting from inaccurate or erroneous information. PHONE: (770) 446-6996 • FAX: (770) 263-8825 • TOLL FREE: (800) 554-5686 email: editor@conway.com web: siteselection.com/issue/texas-2025 Texas Economic Development Guide is published by Conway Data, Inc. 6625 The Corners Parkway, Suite 200, Peachtree Corners, GA 30092 USA. PRINTED IN USA. ©2025 Conway Data Inc. DIGITAL EDITION TAKE THIS GUIDE WITH YOU ENJOY Read the digital edition on your tablet or phone. Click on links within articles for even more information. SHARE Share the magazine on social media with your friends and community. LINK Feature the magazine on your blog, website or newsletters with a link or one of our easy-to-use tools. siteselection.com/issue/texas-2025 Publisher/Director LAURA LYNE Executive Vice President RONALD J. STARNER Editor in Chief ADAM BRUNS Editor Emeritus MARK AREND Senior Editor GARY DAUGHTERS Associate Editor ALEXIS ELMORE Assistant Custom Content Editor LINDSAY LOPP Art Director NEGIN MOMTAZ Production Coordinator/Designer BOB GRAVLEE Lead Designers SEAN SCANTLAND RICHARD NENOFF Designer ASHLEIGH PORTER Data Services Manager KAREN MEDERNACH Senior Research Associate BRIAN ESPINOZA Research Associate McKENZIE WRIGHT GLOBAL SALES & MARKETING Vice President of Sales CHARLES FITZGIBBON Regional Director — Northeast U.S. MIKE GLENNON Regional Director — Midwest U.S. CATHY McFARLAND Regional Director — Southeast U.S. MARTA RUSSELL Regional Director — Western U.S. PAUL NEWMAN Regional Director — U.S. MARGARET ROSE Europe BRENDAN DOHERTY, +44 7999 786752 Japan HIROKO MINATO, +81 50 8882 3456 Korea CHUL LEE, +82 2 466 5595 Sales Administrator CHRISTI STANSBERRY Sales Development Representative BRE ROGERS BUSINESS DEPARTMENT Chief Financial Officer DEBBIE PORTER Accounting Associate DAVIS WILSON CIRCULATION Circulation Manager JULIE CLARKE DIGITAL TECHNOLOGY TEAM Director of Programming & Analytics DANIEL BOYER IT Coordinator MARK BERTRAM Webmaster DANIEL MONAGHAN 10 TEXAS ECONOMIC DEVELOPMENT GUIDE12 TEXAS ECONOMIC DEVELOPMENT GUIDE W hen Texas claimed the 2024 Site Selection Governor’s Cup for having the most qualified capital investment projects of any state in the nation, the victory marked the Lone Star State’s record-setting 13th consecutive first-place finish. Texas secured this prestigious honor by tallying a remarkable 1,368 corporate facility investment projects last year — 114 more than the previous year and twice the number of second-place Illinois, which garnered 664. At the helm of this award- winning effort has been Texas Governor Greg Abbott, who apologizes to no one for his state’s Gov. Abbott explains how Texas builds on the momentum of 13 straight Governor’s Cup wins. by RON STARNER LEADERSHIP INTERVIEW: GOVERNOR GREG ABBOTT Leading Leading From the FrontTEXAS ECONOMIC DEVELOPMENT GUIDE 13 no-nonsense approach to economic development and business friendliness. As Abbott likes to say, Texas is the land of freedom and opportunity, and his administration has been characterized over the years by its business-friendly approach to taxation, regulation and recruitment. In the following interview, Abbott outlines his approach to economic development and talks about his state’s many successes in this vital area. Winning another Governor’s Cup award from Site Selection Magazine this year is the latest confirmation that Texas is winning at economic development. What are the factors that have enabled Texas to maintain its first-place ranking for well over a decade now? GOV. ABBOTT: Texas leads the nation in attracting business location and expansion projects because Texas offers businesses the opportunity and freedom to succeed. Our 13th Governor’s Cup in a row is a testament to that winning formula. Ranked as the Best Business Climate in America, Texas offers unmatched business advantages, including no corporate or personal income tax, a highly skilled and diverse workforce, easy access to global markets, robust infrastructure, a reasonable regulatory environment and an Gov. Greg Abbott accepts the Site Selection Governor’s Cup trophy from Site Selection Editor Emeritus Mark Arend for a record-setting 13th straight year. Texas has claimed this prestigious award each year by having the most corporate facility investment projects in the nation. Photo courtesy of Office of the Governor14 TEXAS ECONOMIC DEVELOPMENT GUIDE exceptional quality of life. That is why Texas continues to lead in attracting businesses, investment and top talent from across the nation and around the world. I look forward to accepting another Governor’s Cup next year and beyond as we build a stronger, more prosperous Texas than ever before. Starbase, Texas, is about to become an actual city in your state. What does this say about the importance of the space program and the future of the space industry in Texas? GOV. ABBOTT: It’s no surprise that Texas is the launchpad to the future. Texas is ranked No. 1 for aerospace manufacturing attractiveness. For decades, NASA’s Johnson Space Center in Houston has served as home to astronaut training and Mission Control. Today, multiple commercial space firms have significant advanced manufacturing facilities and state-of-the-art test sites in our great state, including SpaceX, Blue Origin and Firefly Aerospace. Axiom Space is building the world’s first commercial space station in Houston. Last year, I launched the Texas Space Commission to further Texas’ leadership in civil, commercial and military aerospace activities and promote innovation in space exploration and commercial aerospace. Texas has made significant strides in recent years to shore up its electrical grid and the state’s overall resiliency when it comes to power, especially during times of weather crisis. What do you feel have been the most impactful upgrades in this area? GOV. ABBOTT: Texas is the energy capital of the world. We lead the nation in oil and gas production, wind-powered generation and utility-scale solar production. Because of our all-of-the-above energy policies, Texas is well-positioned to lead in hydrogen, geothermal, nuclear and advanced battery storage solutions. As Texas continues to experience unprecedented growth, we have increased dispatchable power capabilities and continue to make strategic investments in critical infrastructure. Texas voters approved $5 billion for the Texas Energy Fund for low-interest loans to support the construction of new dispatchable generation. Additionally, the weatherization requirements for critical grid and natural gas infrastructure that I signed into law have proven effective. Working together with leaders in the energy industry, we will continue to increase capacity to ensure that every Texan and every Texas business has the power needed to thrive. What have you learned about trade and foreign direct investment during your time as Governor of Texas that you are able to apply for the remainder of your tenure in office? GOV. ABBOTT: I’ve learned without doubt that “Made in Texas” is a powerful global brand. Texas leads the nation in exports and is the top state for foreign direct investment. As governor, I’ve been honored to lead business development missions to France, India, Israel, Japan, Mexico, South Korea, Taiwan and the United Kingdom, with more to come. We’ve signed numerous economic development agreements and hosted top trading partners from around the world on their visits to Texas. We will strengthen these strategic partnerships and advance Texas’ position as a global economic powerhouse. Texas continues to land major investments in the semiconductor supply chain and in the data centers sector. Why is Texas so dominant in both of these industries? GOV. ABBOTT: Texas is where the integrated circuit was born and where the future of tech innovation is building. I was proud to sign into law the Texas CHIPS Act to leverage Texas’ investments in the semiconductor industry, encourage semiconductor-related companies to expand “ Ranked as the Best Business Climate in America, Texas offers unmatched business advantages, including no corporate or personal income tax, a highly skilled and diverse workforce, easy access to global markets, robust infrastructure, a reasonable regulatory environment, and an exceptional quality of life. ” — Greg Abbott, Governor of TexasNext >