How the 89th Legislative Session Will Shape Our Economic Future
by Matt Abel, VP, Government Affairs, Texas Economic Development Council
Look around Waco and you might not notice it at first, but the signs of economic development are everywhere. From the $1 billion Graphic Packaging facility in Texas Central Park to Electrolit's $400 million facility, major investments are transforming the economy. But behind these headline- grabbing projects lies a framework of state policies, local tools, and cooperative partnerships that make such transformations possible. The 89th Texas Legislative Session protected and expanded programs that enable Texas communities to attract investment and create quality jobs.
Understanding Economic Development Before getting into the nitty-gritty legislative details, it's important we understand what economic development is and why it matters to residents. Economic development is a deliberate effort to improve a community or region's economy. It includes efforts to attract new businesses, assist existing companies in expanding, create quality jobs, and build a resilient economy that can withstand economic challenges. Economic developers are the professionals who make this happen. They work as problem solvers, collaborators, and community advocates. Why does this matter to Waco residents? A strong economic development program directly affects their quality of life. It means more jobs for local families. It means investment from new industries that will bolster the tax base which funds schools and infrastructure. When Graphic Packaging International decided to invest $1 billion in Waco— the largest economic development deal in the city's history—it wasn't just luck. It was the result of strategic economic development efforts, including workforce development partnerships with Texas State Technical College and McLennan Community College, infrastructure planning, and targeted business incentives.
14 | WINTER
Made with FlippingBook - Online catalogs