Clear Lake Area Chamber Of Commerce: The Governor's Texas Business Bulletin

Press release from the Clear Lake Area Chamber Of Commerce:

January 12, 2022

The Texas Economic Development & Tourism Team is looking forward to the new opportunities that 2022 has in store and the continued partnerships with all of our Texas economic development stakeholders!

We start off this new year by bringing you a new resource—the 2022 Texas Business Licenses & Permits Guide. This is the go-to guide for anyone looking to start a new business in the state of Texas. We invite you to utilize this helpful tool and/or share it with your network of aspiring entrepreneurs and small business owners.

We hope you’ll enjoy this first Texas Business Bulletin of the year, including a Q&A on my economic development outlook for 2022, new staff spotlights, international market overviews, recent project announcements, and much more.

As always, please visit our website, follow us on social media, or reach out to a member of our team if we can be of any assistance.

2022 Business Licenses & Permits Guide:

The 2022 Business Licenses & Permits Guide is now available! This guide is a great tool for anyone interested in starting a business in the state of Texas. The guide offers information on licenses and permits that may be required for 300+ business types, including direct links to appropriate state resources that can help address permitting needs. Please let us know if you have any questions regarding the guide or how to start your business in the Lone Star State. Specific licensing and permitting questions may be directed to the Business Permits Office

Q&A with Adriana Cruz: Outlook for Economic Development in Texas:

Q: How did Texas’ economic development successes in 2021 position the state for continued success in 2022?

There’s no denying that 2021 was a record-breaking year in terms of economic development wins for the Lone Star State. Our state was named the Best State for Business for the 17th year in a row by the nation’s top CEOs, we received a 9th Governor’s Cup in a row and 17th total cup for most corporate relocation and expansion projects, and we won the Gold Shovel Award for the 9th year, recognizing our state’s efforts to attract high-value investment and large job creating projects. We also saw a significant number of headquarter relocations—73 in total with almost half of those from California companies.

I think that with this significant momentum behind us, we’re going to continue to see a high level of interest in Texas and see even more economic development wins in 2022.

Other notable wins last year, such as Samsung’s $17 billion investment in Taylor—the largest foreign direct investment on record in Texas—will not only spur continued economic development activity in 2022, but for decades to come.

Q: Last year, Texas added back all jobs lost from the pandemic impact and then some. How do you see job creation and workforce development continuing in 2022?

The most recent job data shows that Texas reached more than 13 million jobs in November 2021, surpassing our state’s pre-pandemic employment levels. This also marked a more than 100% job recovery rate, adding back more than 1.45 million jobs lost at the peak of the pandemic. This milestone highlights the resiliency of the Texas economy, which has allowed us to remain a national leader in job creation and an economic powerhouse. Thanks to our state’s focus on economic freedom and prosperity, and a concerted effort on workforce development, we are poised to continue this trend into 2022.

Workforce development will continue to be a priority for the state. Innovative programs such as the Skills Development Fund and the Skills for Small Business Program, through the Texas Workforce Commission, and the Texas Talent Connection Grant, through the Texas Workforce Investment Council, will be essential to developing our state’s workforce pipeline, as well as reskilling and upskilling Texans.

Q: Texas has increasingly become known as the new headquarters for headquarters. What do you expect for Texas in 2022 in terms of HQ relocations?

In 2021, Texas saw more headquarter relocations than any other year. As I stated above, more than 70 businesses relocated to the Lone Star State with about half of those from California. I expect that this trend will remain as companies continue to look for a location with the freedom to innovate, succeed, and grow. Thanks to our superior environment for back office operations and financial services, and a corporate services workforce of more than 1.5 million, Texas has the foundation for headquarters to thrive. Nearly 50 Fortune 500 companies call Texas home and notable brand names such as NRG Energy, AECOM, Tesla, and Gordon Ramsay North America announced headquarter relocation plans last year. We expect to see even more corporations in 2022 announce that they have “Gone to Texas”!

Q: What other major economic developments trends do you foresee in 2022?

Looking ahead for 2022, I foresee a number of positive economic development trends for Texas:

• Companies are attracted to Texas for a combination of unique business advantages that no other state can claim: a superior business climate, a strategic location in the center of North America, a highly skilled, diverse, and growing workforce, no corporate or personal income tax, a robust infrastructure network, and a pro-business regulatory environment. Thanks to these factors, and an exceptional quality of life and relatively lower costs, I think we will continue to see a “Texas migration” as more and more businesses and individuals flock to the Lone Star State.
• We will continue to see diversification of our industrial base across the state. Last year, brought new capital investment in sectors from advanced manufacturing and biotech, to corporate services, energy, aerospace, and more. Our economy is sure to continue to become more diverse in 2022.
• New industries are also going to take hold in Texas. We’ll see development in up-and-coming industries such as electric vehicles and battery manufacturing, cybersecurity, cryptocurrency, and commercial space tourism.

One of the most important trends that will continue well into the future is the team effort that it takes to be successful in economic development in Texas. The reason behind our record-breaking year, our success, and our accolades is the close collaboration between the Governor’s Office, our community partners, our state agency partners, and our educational institutions. In Texas, economic development will continue to be a team sport!

This press release was produced by the Clear Lake Area Chamber Of Commerce. The views expressed here are the author’s own.