Dear Texas Economic Development Stakeholders,
We are seeing a very busy start to the Spring season! Project activity and interest from expanding and relocating companies is surging as we continue to see daily announcements of new corporate investment and new jobs created across the state.
And Texas' economic growth continues to lead the nation! According to the latest data from the U.S. Census Bureau, Texas had the highest GDP growth of any other state in the final quarter of 2022. Thanks to our impressive economic resurgence and our unwavering business advantages, Texas proves time and time again that we are truly the best state for business in the country!
In the April Texas Business Bulletin, you will find an update on our business development activities, an overview of our state’s growing semiconductor manufacturing industry, recent project announcements, new staff spotlights, and more!
-Adriana Cruz, Executive Director, Texas Economic Development & Tourism
Unemployment Rate: 4.7%
Jobs Added in February: 77,800
Job Recovery Rate: 113.7%
Workforce: 14.3 million
Made in Texas: Innovation in Semiconductor Manufacturing
Texas has recently garnered global attention for our achievements in semiconductor manufacturing, particularly for the recent multi-billion dollar investments from Samsung and Texas Instruments. However, Texas’ history with semiconductor leadership is decades-long, dating back as far as the industry’s beginning.
The Lone Star State is proud to be home to the invention of the integrated circuit. In 1958, Texas Instruments produced the first integrated circuit at their headquarters in Dallas. Today, semiconductors and integrated circuits are utilized in nearly all aspects of everyday life, from smartphones to vehicles, and beyond.
Since then, Texas has continued to be a hub for industry innovation and growth. More than 200 semiconductor manufacturing establishments currently call Texas home, making up more than 10% of all establishments in the country. Texas chip production accounts for more than one quarter of all semiconductor exports from the U.S.
Semiconductor manufacturers are attracted to Texas for a number of reasons, including our emphasis on innovation, our skilled workforce, outstanding higher education institutions and research facilities, robust infrastructure, overall lower operating costs, and a strategic geographical location with easy access to global markets. The Lone Star State has prioritized developing a highly skilled workforce in the industry, ranking #2 nationally for employment in semiconductor and machinery manufacturing.
Education and R&D is another reason many companies have chosen Texas as their preferred location for semiconductor operations. Texas A&M University, University of Texas, Rice University, and Texas Tech University all have programs dedicated to semiconductor research. Each of these institutions help ensure that the next generation of researchers and workers in this field are well equipped to meet the needs of employers.
Thanks to Texas' competitive advantages, in combination with a powerful history of innovation and continued focus on industry development, Texas is poised to lead the world towards the future of advancements in semiconductor manufacturing.
Read more about the Texas semiconductor industry by visiting the Texas Comptroller's website.
New Staff Spotlights
Kacey Bowen joined the Business & Community Development team as a Marketing & Communications Specialist. Growing up in the Lone Star State, her love for Texas runs deep and she’s excited to show others what makes this state so great. After graduating from Texas Christian University with a degree in Journalism, Kacey spent the last several years working throughout Texas as a news reporter and anchor, most recently in Austin. Now, she’s excited to join the EDT team in promoting Texas as a premier business destination. When not working, you can find Kacey spending time with her friends or family, adventuring in or around Austin, and trying to find the best local coffee spot. You may contact Kacey through our online staff directory.
Karina Trevino joined the Business & Community Development team as a Research Specialist after serving as a Grant Specialist in the Office of the Governor's Public Safety Office for two years. Karina graduated in 2019 from the University of Mary Hardin Baylor with a bachelor’s degree in Political Science and a minor in History. Karina’s hobbies include staying active by hiking trails throughout Central Texas, searching for the best view. She loves traveling to new cities all over Texas on the search for the best desserts. Lastly, her newest hobby is taking photos of family and friends. Currently, her favorite models for her photos are her elementary age nieces and nephews. You may contact Karina through our online staff directory