"Chicago and the Midwest are strategic business attraction areas for Texas with a wealth of companies that can benefit from our state's advantageous business climate," said Tracye McDaniel, President and CEO of Texas Economic Development Corporation and TexasOne, its privately funded non-profit marketing arm. "Through proactive outreach to targeted decision makers, we aim to keep the wave of companies coming to Texas."
"Texas is the best state for business in the nation – bar none," said Bryan Daniel, Executive Director for the Governor's Office of Economic Development and Tourism. "Our goal is to make sure that message is heard loud and clear by the C-suite in the Windy City."
Numerous companies headquartered in the Chicago region have existing operations in Texas, including Accenture, Archer-Daniels-Midland, Boeing, Thyssenkrupp America, Motorola Mobility and Wilson Sporting Goods. In June 2016, W. W. Grainger opened a new sales facility in San Antonio in a project expected to create at least 200 new jobs and $3.9 million in capital investment. A Texas Enterprise Fund (TEF) grant offer of $975,000 was extended to the company.
Recently ranked by Chief Executive magazine as the top state for business for the 12th year in a row, Texas offers the second largest civilian workforce in America, first-rate educational institutions and world-class infrastructure that enables companies to operate profitably on a global scale. With no corporate or personal income tax, Texas has one of the lowest tax burdens in the nation and also competes with aggressive incentives, including the TEF, Texas Enterprise Zone, Skills Development Fund and additional incentives offered at the local level.
The Chicago business recruitment mission includes a reception for corporate executives, an international roundtable with consulates and investment promotion agencies responsible for foreign trade and investment and a panel discussion, luncheon and meetings with site selection consultants, who are estimated to impact 40% of all of corporate relocations and expansions involving 100 or more jobs.
About Texas Economic Development Corporation and TexasOne
Texas Economic Development Corporation is an independently funded and operated 501(c)(3) nonprofit organization, whose mission is dedicated to economic development, business recruitment and job creation in the State of Texas. TexasOne is a public-private partnership of the Texas Economic Development Corporation, which coordinates efforts with the Office of the Governor to market Texas globally as a premier business destination. For more information about Texas Economic Development Corporation and TexasOne, visit www.texaswideopenforbusiness.com.
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SOURCE Texas Economic Development Corporation