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Dear Texas Economic Development Stakeholders,
Happy holiday season to you and yours! This month marks my five year anniversary as the Executive Director of the Texas Economic Development & Tourism Office. It continues to be an honor and privilege to lead the economic development efforts for the Lone Star State!
As we begin this season of celebration and the year draws to a close, I want to express my gratitude for the shared achievements brought forth by working together with economic development partners across the state this past year. Working together, we fostered growth, innovation and economic opportunity, strengthening the Texas economy and bolstering our communities. We look forward to building on our successes in the year ahead!
A reminder that December is National Write a Business Plan Month! A business plan is one of the first and most important steps in starting a new business. Visit our website for helpful resources, tips and guidance to get started on your own entrepreneurial endeavor.
In this issue of the Texas Business Bulletin, you'll find our 2024 Year in Review, an update on our office's programs, our economic snapshot, recent meetings and upcoming events, as well as project announcements across the state.
As always, please be sure to visit our website, follow us on social media or reach out to a member of our team if we can be of any assistance.
On behalf of the team at the Texas Economic Development & Tourism Office, our best wishes for a happy holiday season and prosperous new year!
Adriana Cruz, Executive Director
Texas Economic Development & Tourism Office
Unemployment Rate: 4.1%
Workforce: 15.4 million
Jobs Added Over the Last 12 Months: 274,600
2024 Year in Review
As we approach the end of 2024, we'd like to take a moment to reflect on the many accomplishments this past year. We recognize that it takes all of our economic development partners working together to uphold Texas' unprecedented success in economic development. We mark the end of this year by celebrating everything our state partners have accomplished together—from our record-breaking job creation and economic growth to our many awards and accolades. Here's a look at some of the highlights from 2024, included in both bulleted and infographic form:
Texas was named State of the Year by Business Facilities, taking the title for the fifth time.
The Texas economy was valued at $2.6 trillion, expanding faster than the nation with an annual growth rate of 7.4% in 2023.
Texas was named the Best Business Climate in the U.S. for 2024 by Site Selection and Business Facilities.
Texas was named the Best State for Business by Chief Executive for the 20th time in a row.
Texas secured our 12th Governor's Cup in a row from Site Selection for the most job-creating corporate relocation and expansion projects in 2023.
Texas was named the #1 exporting state in the nation, again for the 22nd year in a row.
Texas was awarded our 11th Gold Shovel from Area Development.
Texas dominated the Business Facilities 2024 Rankings Report with more than 70 top rankings across state and metro categories for our leadership in industry, workforce, business climate, economic strength and more.
We look forward to continuing this momentum in the year ahead as we continue to work together to build a bigger, better Texas for generations to come!