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Texas Wins Site Selection Magazine’s 2013 Governor’s Cup

Texas has won Site Selection Magazine’s Governor’s Cup for 2013, the fifth time the Lone Star State has received the award under Gov. Rick Perry’s leadership. The award is given annually to the state with the most new and expanded corporate facilities announced over the year. Texas has previously won the Governor’s Cup in 2004, 2005, 2010 and 2012.

Texas took the top spot with 657 qualifying projects in 2013. Ohio finished second, with 480 qualifying projects. Qualifying projects must meet one or more of the following criteria: capital investment of at least $1 million; 50 or more new jobs created; 20,000 or more sq. ft. of new construction.

This award continues a decade-long trend of national recognition for Texas’ economic strength and job creation under Gov. Perry’s tenure. The state was recently named best business climate by Business Facilities Magazine, most competitive state by Site Selection Magazine, best state to do business by Area Development Magazine and best state for business for nine years in a row by Chief Executive Magazine. Last month, the Texas Taxpayers and Research Association released a report finding Texas’ budget is one of the leanest in the nation, with a strong fiscal outlook for the future. Global Trade Magazine also recently named Texas the top state for global trade, noting the state’s commitment to low regulatory burdens and wealth of global enterprises.

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Congratulations to Bonham on New Manufacturing Site

Trans Cable International recently signed a 20-year lease on an old factory to manufacture cable in Bonham. The business is expected to bring up to 50 skilled, good-paying jobs to the community during the next three years. County and city officials made up a good portion of the 100 or so persons who attended a ribbon cutting ceremony. The factory will begin operating in Fall 2013, and will employ about 20 people full-time. Trans Cable plans to focus the first year of production on low voltage telecommunication cables. During the next couple of years, 30 more people will be hired as the factory transitions into producing high-tech fiber optic cables. Read more

Fort Worth Chamber of Commerce was the 2012 Community Economic Development Award recipient for population category 100,001 and above at the Texas Economic Development Council (TEDC) annual conference. They were successful in attracting GE Manufacturing Solutions, the world’s leading manufacturer of rail and transportation products, as the site for a state-of-the-art locomotive manufacturing facility. GE purchased a 670,000 sf facility and is expanding to approximately 900,000 sf to accommodate the production of 250-300 locomotives per year. The $100 million capital investment will bring more than 500 jobs with annual salaries averaging over $40,000 per year. GE received a $4.35 million Texas Enterprise Fund grant, $3.3 million in tax abatements and a $785,000 Skills Development Fund grant.