Texas’ chief executive for business growth says the state is firing on all cylinders.
As executive director of the Texas Economic Development & Tourism Office, Adriana Cruz leads a team of economic developers who work every day to make Texas the best place in America for corporate investment.
Judging by the results, which include winning the highly coveted Site Selection Governor’s Cup trophy for a record 13 consecutive years, Cruz and her team are excelling at their jobs.
In the following interview, Cruz discusses the state’s new Economic Development Strategic Plan and how it will be implemented.
The state’s new five-year Economic Development Strategic Plan is titled “Bigger. Better. Texas.” What does that mean to you?
CRUZ: The new “Bigger. Better. Texas.” Economic Development Strategic Plan is our blueprint to build a stronger Texas of tomorrow. It means that here in Texas, our future is brimming with promise. And although we have experienced extraordinary economic success in the past decade, we are not becoming complacent. We must capitalize on our success and capture the promise of our future economy to maintain our competitive edge in the years ahead. This strategic plan is something that all our economic development partners across the state can rally around. Economic development is a team sport in Texas, and everyone has a role to play in building our future economy. It will take all of us working together to continue to keep Texas the premier place to visit, live, work and grow a business.
Executive Director, Texas Economic Development & Tourism Office
“Texas is where today’s products are made and where tomorrow’s technologies are brought to life.”
— Adriana Cruz, Executive Director, Texas
What are the main pillars of the plan?
CRUZ: The economic development strategic plan accomplishes a number of objectives, all developed with the broader economic development ecosystem in mind. The plan establishes a unifying vision for the future; identifies new target industry sectors that are expected to drive economic growth and job creation; outlines objectives to advance our state’s global competitiveness; and provides data and recommendations to inform economic development decisions across the state. We are going to continue to build the strongest economy in the nation around four pillars: Business and Industry; Entrepreneurship and Innovation; Workforce; and Infrastructure.
One of the target industry sectors in the plan is called Energy Evolution. What does that mean, and what are the main goals of this initiative?
CRUZ: Texas is the energy capital of the world. We are already leading the nation in energy production; Texas provides nearly one-fourth of all domestically produced energy in the U.S. The Energy Evolution sector is one of the 10 target industry sectors identified in the new economic development strategic plan. We believe that Texas is best positioned to lead in the innovation and evolution of this industry. This plan builds on our all-of-the-above (and all-of-the-below) energy strategy and positions Texas to maintain our role as a global leader in oil and gas, solar, wind and new energy innovations such as hydrogen, carbon capture and small modular nuclear.
Texas is the birthplace of the integrated circuit and semiconductor technology. How will Texas ensure that it continues to lead America and the world in all aspects of the supply chain for this vitally important industry?
CRUZ: Texas is proud to be the birthplace of the integrated circuit — first invented at Dallas-based Texas Instruments — and the home of the semiconductor industry of the future. Texas is where today’s products are made and where tomorrow’s technologies are brought to life. We are the top state for semiconductor manufacturing, having led the nation for 14 years in the export of semiconductors and other electronic components. Today, more than 47,000 Texans work in the semiconductor industry, and we are prepared to meet the industry’s needs for tomorrow. In order to continue our leadership, we have identified Semiconductor Manufacturing as a key subsector within the new economic development strategic plan, and we are focused on continuing to promote growth of the semiconductor supply chain here in Texas. Thanks to the passage of the Texas CHIPS Act, we have a new Texas CHIPS Office in our office that oversees the Texas Semiconductor Innovation Consortium (TSIC) and the nearly $700 million Texas Semiconductor Innovation Fund (TSIF). Texas is where America’s chip industry is building for tomorrow.
Mexico is an important trade partner with Texas. Given the new tariffs that have been put in place, how will Texas continue to work with Mexico on trade policy and cross-border FDI?
CRUZ: Mexico and Texas have a strong and long-standing economic and cultural partnership. We plan to continue to work with businesses and trade partners in Mexico to uphold our strong trade and investment relationship. The State of Texas Mexico Office, which operates under the Texas Economic Development & Tourism Office, is poised to continue its mission to promote Texas business into Mexico and attract foreign direct investment (FDI) into Texas. As the No. 1 exporter in the country for the past 23 years in a row and the top U.S. destination for foreign direct investment over the last two decades, Texas will continue to leverage relationships with our top trade and FDI partners to grow our economy.
Adriana Cruz at the signing of a Statement of Mutual Cooperation with KOTRA, the Korea Trade-Investment Promotion Agency, to strengthen the economic relationship between South Korea and Texas.
Photo courtesy of the Office of the Governor
SpaceX announced recently that it plans to invest $1.8 billion to build out the infrastructure of Starbase, Texas. What will this mean for the Texas economy and the state’s workforce?
CRUZ: Texas’ aerospace, aviation and defense industry not only fuels innovation, but it is a major driver of our economy, supporting local communities and creating new jobs for hardworking Texans. Across the state, we are home to state-of-the-art development and test sites for multiple commercial space firms, all leading the way in cargo, satellite and space tourism transport. It’s thanks to industry innovators like SpaceX and their infrastructure investments in South Texas, as well as other investments in regions across the state, that we remain a global force in innovation and a beacon of economic optimism for the entire world. With continued investments in aerospace, aviation and defense, supported by the newly formed Texas Space Commission, Texas will continue to see even more groundbreaking industry developments.
Texas keeps growing at a substantial pace each year. What will Texas look like 10 years from now? Do you have any specific growth projections you can share for the population, economy and jobs?
CRUZ: Our state’s visionary leadership has provided an environment where business and individuals can succeed, which has led to significant economic growth and success across our great state. Looking back at the past two decades, Texas dominated the nation in population growth. In 10 years, we can expect to continue this population growth and will likely reach 40 million in population by 2035. In addition, Texas has had an impressive 10-year GDP growth rate of 38.7%, growing faster than the nation as a whole. I think we can expect to see more record-breaking economic expansion in the years ahead, especially given the diversity of our economy and the strong population trends providing a skilled, diverse and growing talent pool. I think it’s safe to say that the Future is Texas! And working with all of our economic development partners across the state, we’ll continue to build a bigger, better and stronger Texas for generations to come.
