Texas Business DigestNovember 2012
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Texas on Top
Area Development Names Texas "Top State to Do Business"
The Lone Star State ranked first last year and, with more than 200 mentions, is again the Top State for Doing Business. Texas has a diverse economy, skilled workforce, no corporate or personal income tax, and a state government committed to tort reform and economic development. With more than 222,000 new private-sector jobs added over the last year, and two years of solid job growth, Texas continues its outstanding record of economic growth. Consultants also placed Texas first for its overall business environment, including its cost of doing business, corporate tax environment, incentives programs, speed of permitting, and access to capital and project funding. More...
 
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Business Growth in Texas
Disney Magic Sets Sail from the Port of Galveston
Disney Cruise Line adds Galveston as a new departure port with a minimum of 20 cruises departing each year for the next two years. Last year, the port experienced a 5.5 percent increase in passenger embarkations due to the cruise industry's largest-ever capacity commitment to Texas. The deployments are expected to carry more than a million passengers a year, creating new jobs and a guaranteed minimum gross revenue of $2.4 million for the Port of Galveston. The cruise industry helped Galveston to its best peak-season tourism numbers on record this summer, surpassing pre-Hurricane Ike levels. More...
Dallas-based Southwest Airlines Announces $100 Million HQ Expansion
The 492,000-square-foot expansion will house 24-hour coordination and maintenance operations, customer support and services, and training. With the AirTran acquisition in May 2011, Southwest Airlines' operations grew by about 25 percent, adding jets, flights, destinations, and employees. Southwest hired 4,349 new employees in 2011, and now employs more than 46,000 people. Of Southwest's nearly 12,000 employees in Texas, about 4,000 work at the Dallas campus and at two off-site leased buildings. The new facility's capacity is 5,000 employees, allowing the airline to add at least 1,000 corporate employees in the next few years, and to possibly relocate the 250 AirTran employees in Orlando and Atlanta. In all, Southwest Airlines has $674 million in projects under way in preparation for repeal of the Wright Amendment in 2014, including terminal and gate expansion at Love Field and updating the original headquarters. More...
McKinney is welcoming Wistron GreenTech Corp., a Taiwan based Fortune 500 company, which uses a chemical process to extract precious metals from old laptops and other electronic devices. The McKinney campus, which sits on 22 acres of land near Collin County Regional Airport, will initially employ 80 people with potential of an increase to 120. With operations staring in January 2013, Wistron GreenTech will be a $21 million electronics recycling hub, and contribute $3 million in wages per year, an average of $20 per hour. Earlier this year, McKinney Economic Development Corp. approved two cash incentives totaling $550,000, based on taxable business valuation and the number of employees the company will bring to the city, as an incentive package to bring Wistron GreenTech Corp. to McKinney. More...
Temple gets Don-Nan Pump & Supply Manufacturing Site
Don-Nan Pump & Supply will begin construction on a new $4 million, 45,000 square-foot manufacturing warehouse and distribution center in Temple by the end of 2012. With Don-Nan expecting completion by summer 2013, the company plans on hiring 12 new workers with an annual salary of $45,000 plus benefits. As an incentive to build the plant, the Temple City Council approved a property tax abatement based on Don-Nan's capital investment, average wage, and employee benefits program. More...
 
Texas in the News
Texas Economy Gaining Vigor, Outpacing U.S. Rebound
The Texas economy is rebounding, outpacing the United States economic recovery. A New report shows that manufacturing output, service-sector activity, and consumer confidence across the state have increased in recent months. Overall, Texas' job growth of 2.5 percent for the last 12 months has outpaced the national average of 1.4 percent. In addition, the state unemployment rate of 6.8 percent in September was below the U.S. rate of 7.8 percent. More...
Dallas Fed Report Shows Manufacturing Hike in Texas
According to the Texas Manufacturing Outlook Survey, conducted by the Dallas Fed, Texas factory activity increased during October. The report shows that key economic indicators rose throughout October, including the production index, capacity utilization index, shipments index and the general business activity index - its first positive reading since June. In addition to real-time economic indicators showing improvement, indexes for future manufacturing activity were stronger than in September, as were expectations regarding future business conditions. More...
SolarWinds Tops List of America's Best Small Companies
Led by CEO Kevin Thompson, the Austin, Texas-based company offers IT departments affordable software to monitor networks and servers. Aiming for 80 percent of the functionality of rival offerings from IBM and HP, the company sells its wares for one-tenth as much. Such savings have fueled annual sales growth of 38 percent since 2006. According to Cisco Systems, SolarWinds' industry - internet data traffic - is expected to triple over the next five years. More...
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Texas Business Digest information is compiled by the Economic Development and
Tourism Division of the Office of Governor Rick Perry. For more information, visit TexasWideOpenForBusiness.com or contact the Press Office at (512) 463-1826.