Future of Texas Enterprise Fund uncertain after Perry steps down, report says

Future of Texas Enterprise Fund uncertain after Perry steps down, report says

After Gov. Rick Perry leaves office, the future of the Texas Enterprise Fund is uncertain, according to a report by the Texas Tribune.

 

The Tribune report notes that the two highest-profile contestants for the governors seat, Attorney General Greg Abbott and State Sen. Wendy Davis, have yet to stake out a clear position on the future of the fund, which is used to sweeten the pot for businesses looking to relocate to Texas.

During Gov. Perry’s tenure, the fund has awarded more than $508 million to companies looking to call the Lone Star State home. More than 100 companies have been awarded money from the fund. Online retail giant eBay Inc. has recently reworked an incentive deal with the state and the city of Austin. EBay received more than $1 million from the TEF as part of an agreement to boost its local presence and hire hundreds of workers.

“Since announcing his candidacy, Abbott’s stance on the fund has been cloudy. He said in his initial stump speech that he wants to get government ‘out of the business of picking winners and losers’,” the Tribune report said. “But when asked during a fall campaign stop if he would discontinue Perry’s fund, Abbott did not directly answer the question, saying a ‘good tax structure’ is the best incentive for business in Texas.”

Similarly, Davis has been vague about how the fund would…Continued here: http://www.bizjournals.com/austin/blog/abj-at-the-capitol/2014/01/report-future-of-enterprise-fund.html

Debate: Turning Texas Blue Previous post Debate: Turning Texas Blue Why the Dems won’t win Texas in 2014 Next post Why the Dems won’t win Texas in 2014