“ ECONOMIC DEVELOPMENT BRINGS IN MILLIONS OF DOLLARS IN ADDITIONAL TAX REVENUE THAT CAN BE USED TO FUND SCHOOLS, PARKS, AND PUBLIC SAFETY WITHOUT RAISING TAXES ON EXISTING BUSINESSES AND RESIDENTS. ”
The City of Waco and McLennan County received a CEDA for their success in attracting Electrolit's $400 million state-of-the-art manufacturing facility. This project will create 200 well-paying jobs and generate nearly $100 million in new tax revenue for the community over the next 20 years.
and mixed-use development, will require sustained policy support at the state level. Water infrastructure funding from the 89th Session will help, but future phases will need continued state partnership. The Bottom Line for Waco Residents Economic development might seem abstract, focusing on tax policies, incentive programs, and legislative language. But its effects are real and personal. When Graphic Packaging International breaks ground on a $1 billion facility, it means 230 families gaining good-paying jobs. When Electrolit chooses Waco for its first U.S. production site, it creates 200 more jobs. It brings in millions of dollars in additional tax revenue that can be used to fund schools, parks, and public safety without raising taxes on existing businesses and residents. The 89th Legislative Session protected the tools that made these wins possible. Lawmakers invested in the infrastructure and workforce development that businesses need. It was a session of steady, important work - preserving what works while planning for future improvements. As legislators gear up for the next session, the lesson from Waco's success is clear: economic development isn't about government choosing winners and losers. It's about communities having the tools, flexibility, and resources to compete for opportunities that generate prosperity for all Texans. That's worth protecting and worth improving in future sessions. n
Why Continued Focus Matters: The Road Ahead
As we move through the interim and prepare for the 90th Legislative Session (2027 will be here before you know it!), maintaining a focus on improving our economic development programs remains essential. The competition for business investment is becoming fiercer each year. Other states are not standing still; they are enhancing incentive programs, streamlining permitting processes, and investing heavily in workforce development and infrastructure. Waco's recent successes show what's possible when state and local tools collaborate effectively. However, these victories shouldn't lead to complacency. The underperformance of the JETI program indicates that creating an economic development tool isn't enough. The program must genuinely address business needs and operate efficiently. The lack of funding for the Capital Access Program means rural Texas communities miss out on resources their counterparts in other states readily offer. During the interim period, the TEDC and local communities must work with legislators to address concerns about economic development programs while preserving the flexibility and local control that make them effective. Sharing both success stories (like Waco's CEDA award) and honest assessments of what's not working (like JETI) will help lawmakers understand which reforms are needed and which restrictions would be counterproductive. For Waco specifically, the ongoing $1.4 billion downtown redevelopment project, a 12 to 20-year initiative that will reshape the urban core with a new city hall, convention center, town square, ballpark,
The Texas Economic Development Council (TEDC) is an Austin-based, statewide, non-profit professional association dedicated to the development of economic and employment opportunities in Texas. Our diverse members share a common goal: bringing new investment and jobs to Texas.
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