Supports raising small business exemption to $1 million
AUSTIN, TX, Feb. 17, 2009 -- Gov. Rick Perry today addressed National Federation of Independent Business (NFIB) Small Business Day luncheon expressing his support of small business in Texas, including the idea of raising the business margins tax exemption to $1 million.
“I think we can do more to make Texas the best option for companies that employ Texans, which should include taking a close look at the reformed business tax we implemented a few years ago,” said Gov. Perry. “I support raising the small business exemption to $1 million but also look forward to hearing what our legislators have to say. We need to do everything we can to reduce the weight of government so that employers can have the breathing room they need to make it through these uncertain economic times.
The governor additionally reiterated his commitment to maintain reasonable taxes and regulations, and pursue fiscal responsibility as the state works to balance the budget for the upcoming biennium in order to enhance Texas’ competitive edge in the current national economic downturn.
“I am committed to working with our legislators to keep Texas living within its means, continuing our adherence to proven fiscal principles and making tough choices,” said Gov. Perry. “It may not be the most popular course, but it is the wisest and will keep Texas strong in the months and years to come.”
In his remarks, Gov. Perry also emphasized the need to continue investing in state incentive programs like the Texas Enterprise Fund (TEF) and the Texas Emerging Technology Fund (ETF) which are powerful tools in the state’s efforts to create jobs, and commercialize technology and research in Texas. Since 2003, TEF has generated more than 53,800 jobs and $14 billion in capital investment; and since 2005, ETF has invested approximately $53 million in 54 early-stage companies and 16 universities, and attracted more than 45 world-class researchers.
Source: Perry News Release
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Perry cites low taxes and reasonable regulations as keys
AUSTIN, TX, Feb. 12, 2009 -- The U.S. Department of Commerce has named Texas the top exporting state in the nation for the seventh year in a row based on 2008 export data. Texas’ exports increased more than 14 percent over the last year, totaling $192.14 billion, approximately $23.92 billion more than 2007.
“Maintaining our rank as the nation’s top exporting state is proof positive that Texas has sound policies in place to cushion it from the effects of an economic downturn,” said Gov. Perry. “By maintaining low taxes and reasonable and predictable regulations, business in Texas can continue to flourish, ensuring our ongoing position as a top exporting state and competitor in the global marketplace.”
Texas’ top export recipients in 2008 were Mexico, Canada, China, the Netherlands and Brazil which respectively imported $62.08 billion, $19.2 billion, $8.4 billion, $7.06 billion and $5.96 billion in Texas-manufactured goods and services. Texas’ top exporting industries in 2008 were chemicals, computers and electronics, machinery, petroleum and coal, and transportation equipment which posted increased exports of 9.5 percent, 5.1 percent, 9.3 percent, 72 percent and 2.74 percent, respectively.
For more information regarding 2008 export data, please visit:
http://governor.state.tx.us/ecodev/business_resources/international_business_and_recruitment/.
Source: Gov. Perry Release
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To comply with a new law that goes into effect Jan. 1st, cigarette vendors will have to ensure they only sell Fire Standard Compliant (FSC) cigarettes.
Fires caused by unattended cigarettes cause between 700 and 900 fatalities in homes across the U.S. each year. In 2006, there were 1,880 cigarette fires in Texas, causing more than $14 million in property losses and damage. In those fires, 10 people died, and 45 were injured, counting 10 firefighters responding to the blazes.
To counter the problem, Gov. Rick Perry signed H.B. 2935, known as the FSCC law, on June 15, 2007.
The law requires that all cigarettes sold in the state be certified fire standard compliant (FSC). It goes into effect Jan. 1st of 2009, but allows a one year grace period to allow retailers and wholesalers to clear non-compliant inventory.
A fire standard compliant cigarette (FSCC) reduces the chance of starting fires because it is self-extinguishing when not being actively smoked.
Cigarette companies make FSC cigarettes by wrapping the cigarettes with two to three thin bands of less porous paper. These bands act to slow down the burning of a cigarette, causing it to self-extinguish.
Similar laws have been enacted over the last several years by other states, so most major cigarette manufacturers are already producing the safer versions of their popular product lines.
The State Fire Marshal’s Office will be in charge of enforcing the law.
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Meeting consensus is that Texas is well positioned to ride out the current economic downturn.
Dec. 17 AUSTIN – Gov. Rick Perry today met with leaders of key trade associations and labor unions to hear first-hand how the current national economic situation is impacting Texas’ industries and workers. This is the fourth meeting Gov. Perry has held with industry and state leaders to discuss the future of the Texas economy.
“Texas has created and maintained a business-friendly environment that continues to attract companies and support innovation and competitiveness,” Gov. Perry said. “As we continue to weather the turbulent national economy, maintaining our private and public collaboration is essential to ensuring future prosperity for all Texans.”
The governor was joined by representatives from several trade associations and worker’s unions, including the Texas Apartment Association, Texas Chemical Council, Texas Oil and Gas Association, Texas Travel Industry Association, Air Line Pilots Association, Associated General Contractors, and Plumbers and Pipe Fitters Union.
The diversity of Texas’ economy has prepared the state to withstand the current instability in the national economy, and stronger guidelines for home equity borrowing and lending have resulted in Texas retaining some of the lowest levels of mortgage defaults among the nation’s top 10 most populous states.
Thanks to disciplined, principled policies of limited growth in spending, low taxes and a reasonable regulatory climate, Texas continues to be a leader in job creation. From October 2007 to October 2008, the U.S. lost over 1.1 million net jobs while Texas created more than a quarter of a million net new jobs. Texas’ unemployment rate is nearly a full percentage below the national average, and the Lone Star State is home to more Fortune 500 headquarters than any other state in the nation.
While Texas remains in a substantially better economic position than other states in the turbulent national economy, Gov. Perry continues to work with the public and private sectors to identify opportunities to maintain and enhance Texas’ economic edge and competitive position in the global marketplace.
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In recent remarks, the Governor acknowledges the slowdown, and urges fiscal proactivity. Remarks came ahead of a new report by the Federal Reserve Bank showing Texas manufacturing on a downward trend.
Speaking recently to the Texas Chemical Council in Houston, and the Dallas Regional Chamber, Governor Perry has acknowledged that the Texas economy is feeling the effects of the worldwide economic crunch.
Speaking to the Chemical Council on the 16th, Perry commended the sector's 16 million dollars donations to Ike recovery, and then said
"Fortunately, the things that have been attracting businesses to Texas haven’t changed, but our state is not immune to the upheaval on Wall Street. As strong as it is, the Texas economy is interconnected with the economies of other states and nations, so a ripple effect is unavoidable."
Then on the 21st to the Dallas Regional Council, Perry said
"...this financial storm has left credit very, very tight. Whether you lead a business that was ready to expand, a family that was planning to buy a new home or car, or a local government that is recovering from Ike, we are all being affected by the current financial unrest."
The Governors remark foreshadowed a report released yesterday by the Federal Reserve Bank of Dallas, which showed Texas manufacturing indicators continuing a slide that began early this year.
The Texas Manufacturing Outlook Survey is issued monthly by the Fed. Considered important because the survey focuses on Texas manufacturing, which ranks second behind California in factory production and first in the nation as an exporter of manufactured products.
Movements in this sector can be particularly useful for understanding changes in the general economy. Swings in business activity are often felt more quickly and more intensely in the manufacturing sector, which tends to be more cyclically sensitive than the total economy. The report summary states:
"Texas manufacturing activity continued to decline in October, according to the Texas Manufacturing Outlook Survey.
Most indicators of current production and general business conditions remained weak. Nearly all indexes for future activity dipped considerably, and several manufacturers noted that the credit crisis had dampened their outlook."
Perry promised to keep pressure on FEMA to reimburse costs associated with Hurricane Ike, saying in Dallas:
"We won’t know Ike’s total cost for some time, but I expect it will far exceed the $11.2 billion that we requested from Congress. When you consider the resources devoted to dealing with the storm, the cost of countless lost business days, destroyed homes and shattered businesses, the price tag will be a hefty one, and that doesn’t even begin to address the tragic loss of life. To that end, we have kept steady pressure on FEMA to ensure we get reimbursements on par with those Louisiana received after Katrina."
In Houston, he also acknowledged fiscal measures the state government businesses are taking to weather the credit storm.
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Supports raising small business exemption to $1 million
