Governor Abbott Lauds Role Of Small Businesses In Texas’ Historic Budget Surplus

August 10, 2023 | Austin, Texas | Press Release

Governor Abbott today celebrated Texas’ record-shattering jobs economy and the role small businesses play in keeping Texas a national economic leader at the Governor’s Small Business Summit in McAllen.

“Small businesses are a key part of the Texas economic juggernaut,” said Governor Abbott. “Thanks to every one of you here today who serve as the engine of the booming Texas economy, Texas continues to rank as the Best State for Business and is the nation’s top state for small business job growth. Because of our dedication to cutting red tape across the state and investing in the workforce of tomorrow, there is no better place to start and grow a small business than Texas. I thank my Economic Development and Tourism Office for putting on events where small business owners can come together to hear from experts and access the tools and resources they need for their businesses to thrive. Together, we are building a brighter future for all of Texas.”

Delivering the keynote address to a crowd of over 250 current and aspiring small business owners, Governor Abbott highlighted the critical role of entrepreneurs in helping Texas lead the nation in job creation and small business job growth. Joined by McAllen Mayor Javier Villalobos and other state and local business leaders, the Governor recapped signing Texas’ historic property tax cut into law yesterday, noting that the new laws will increase Franchise Tax exemptions and appraisal caps for small businesses. Texas is home to 3.1 million small businesses—over 99% of Texas businesses—that employ nearly half of all working Texans.

The Governor's Small Business Summit aims to help Texas small business owners and aspiring entrepreneurs reach new heights by connecting them with the resources and information needed to start, strengthen, and grow a business.