Governor Abbott Touts Texas’ Economic Leadership At TAB Summit
Governor Greg Abbott today received the Texas Association of Business' (TAB) 2023 Economic Trailblazer Award for his ongoing efforts to keep Texas the economic engine of America during a virtual fireside chat for the TAB South Texas Development Summit. During the discussion with TAB CEO Glenn Hamer, the Governor also praised the many legislative successes of this year that will help grow Texas' workforce and economy, including providing the largest property tax cut in Texas history and reducing local red tape and regulations across Texas.
“I want to thank TAB for your collective leadership for Texas businesses and working to make sure we had a successful legislative session regarding economic development in our state,” said Governor Abbott. “Recently passed property tax relief is transformative and enormous, and part of that credit belongs to the men and women here today. It’s the business owners, the business operators, and all those involved in Texas’ economic development. You all have helped provide Texas with a record amount of revenue for the largest budget surplus in the history of our state. We were committed to returning that budget surplus to Texas taxpayers. The House and Senate worked together, and I was able to sign property tax cuts of $18 billion. This is a game changer, not just for homeowners, but for businesses across our state.”
Speaking to the crowd of 130 TAB members, the Port of Corpus Christi, United Corpus Christi Chamber of Commerce members, and local elected officials, Governor Abbott highlighted additional bills from the 88th Legislative Session that will help boost the Texas economy, including the Texas CHIPS Act and the newly created Texas Space Commission. Governor Abbott also ceremonially signed into law House Bill 5 during the summit, which provides local economic development tools to help attract more economic projects to Texas.
House Bill 5 (Hunter/Schwertner) provides Texas a key economic development incentive tool to continue attracting major capital investment and manufacturing to Texas while providing robust reporting and transparency requirements.