With the 88th legislative session in full swing, a high-powered business advocate visited Taylor last week to brief community leaders on the latest happenings in Austin during a time of unprecedented economic growth.
On Monday, April 17, Glenn Hamer, the president and CEO of the Texas Association of Business, presented an in-depth update on the state legislature at The Greater Taylor Chamber of Commerce’s Monthly Business Luncheon held at the Taylor Mansion Estate & Crystal Ballroom.
“Here we are in arguably the healthiest economy in the country, and probably in the world, and here we are in Taylor, Texas, where you have one of the most important, if not the most important, economic development activity,” said Hamer. “And of course, we are talking about Samsung (Austin Semiconductor), which will be producing the semiconductor chips that will go into everything, including the phones that you are going to use.”
Hamer said being on the frontlines at the Texas Capitol is a unique experience.
“Coming here from Arizona … nothing had quite prepared me for the Texas legislative session,” said Hamer, who came to TAB in 2021 after 14 years as CEO of the Arizona Chamber of Commerce & Industry. “Texas is not a state, it’s a country. It has a two trillion-dollar economy. So, the legislature meets every other year for a hundred and forty days, and we have got about 40 days left, but who is counting?”
Hamer said right now, Texas is leading the nation in economic growth, and has a $34 billion budget surplus, which is the highest in the country and can be leveraged to maintain the top spot through education funding and property-tax relief.
“With this historic budget surplus ... if we make the right investments and make sure that we continue to have the right economic development tools, and we cut taxes in the right place, there is every reason to believe that Texas will continue to be the envy of the nation when it comes to our economic performance,” Hamer said. “And very likely by the 2040’s, Texas will be the number one state in terms of both the size of the economy and the total number of people because here is the thing, people migrate to economic opportunity and Texas is the land of economic opportunity.”
Hamer said TAB is focused on House Bill 5, the Texas Jobs and Security Act, which proposes to replace the school property tax incentive known as the Chapter 313 Agreement, which was allowed to sunset last year.
“ The Jobs and Security Act will make sure that Texas continues to have a property tax discount program that will keep the state competitive when it comes to large capital enterprises,” Hamer said. “And I want to put that in English: That would mean that Texas continues to compete for the Samsungs, the Teslas, and other projects of that sort.”
Hamer expressed appreciation to the Taylor Chamber for their support for the bill.
“I want to thank the Taylor Chamber for being part of our coalition,” Hamer said. “We had over 250 business groups, economic development corporations, chambers and business groups that support this effort and this bill in moving through the House.”
Other priorities for TAB include supporting an effort to provide $650 billion in new funding for educational institutions to work closely with employers on providing training for the “Jobs of today and tomorrow,” he said.
The Chamber luncheons are held on the third Monday of every month. Next month, Williamson County Precinct 4 Commissioner will be the featured speaker. For more information, call 512-3526364.
