The following can be attributed to Tony Bennett, president and CEO of the Texas Association of Manufacturers.

“The Legislature failed to renew Chapter 313, our most important economic development tool, and our neighboring states are surely celebrating to see Texas throw in the towel. These states are hungrier than we are and don’t take for granted the economic engines of their states. As a result, other states will enjoy the massive rate of return of offering limited property tax discounts to attract multi-billion dollar projects and thousands of high-paying jobs. Meanwhile, Texas will be sidelined for major automotive, petrochemical, aerospace and high-tech manufacturing projects that cannot afford to locate in a state with the fourth highest property taxes in the nation, especially when nearly all other states offer property tax discounts. With the federal government directing funds to encourage construction of 7 to 10 semiconductor plants, no one should be surprised that Texas won’t be in the running because without Chapter 313, we can’t compete. I never thought I’d see the day when Texas took the same path California took decades ago when lawmakers took manufacturing jobs for granted and hurt their economy.”

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Contact: Gretchen Fox, 512-694-4326