Gov. Greg Abbott said at a San Antonio lunch Friday that he wants to bolster economic incentive programs to draw more businesses to the state.
Gov. Greg Abbott addresses attendees at the San Antonio Chamber of Commerce during the"State of the State" luncheon Friday.boasted about the strength of the state’s economy on Friday while signaling support for incentives that attract businesses to Texas by cutting the taxable property value for school districts. , an economic development incentive program that could mean millions in tax savings for companies that move to Texas.
Speaking to about 300 business professionals and others at a luncheon sponsored by the San Antonio Chamber of Commerce and Greater:SATX, the governor said Texas’ economy is ranked as the ninth largest in the world in terms of gross domestic product. To remain competitive, the state must have meaningful economic incentive programs like Chapter 313, he said. “There are good reasons why 313 needs to be changed,” he said. But without it, other states “will eat our lunch.”
“We don’t want to just compete,” she said. “As the governor said, we want to win. We’ve got to continue to improve to remain competitive.” The governor spoke of finding ways to provide property tax relief for both homeowners and businesses during the upcoming legislative session. He also supports a business personal property tax exemption for the first $100,000 that would help small businesses thrive.
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