Austin, TX — As the Texas State Chamber, The Texas Association of Business (TAB) today released a statement thanking the Senate and House conferees for passing CCR for HB 5:
“Texas' reputation as the top state for economic development has been further reinforced by HB 5,” said TAB CEO Glenn Hamer. “The business community thanks Lt. Governor Dan Patrick, Speaker Dade Phelan, Chairman Todd Hunter, and Chairman Charles Schwertner for their tireless dedication to protecting Texas' pro-business climate."
HB 5 establishes a new, transparent and accountable economic development incentive program. In passing this legislation, the Texas Legislature overwhelmingly voiced its support of incentive programs that generate high-paying jobs and long-term revenue for communities. Such tools are critical for competing against other states and countries for large capital-intensive projects, such as semiconductor facilities.
HB 5 is on its way to the desk of Governor Greg Abbott, who is a champion for free enterprise and the reason Texas has won 11 Governor's Cups by Site Selection Magazine. Ahead of the 88th Legislative Session, Governor Abbott touted the importance of a new economic development tool to help communities compete for large capital-intensive investments.
TAB is one of over 260 organizations, including more than 100 chambers of commerce, that worked to support HB 5 throughout the 88th Legislature's Regular Session.
TAB is the Texas State Chamber, representing companies of every size and industry. The Association’s purpose is to champion the best business climate in the world, unleashing the power of free enterprise to enhance lives for generations. Follow TAB on Facebook, Twitter, and LinkedIn.