AUSTIN, Texas (KXXV) — The "Bigger. Better. Texas. Statewide Economic Development Strategic Plan: 2025–2029" was created through a yearlong partnership between local, regional, and statewide organizations, business and industry leaders, and Texas state agencies, led by the Governor’s Texas Economic Development & Tourism Office.
This five-year plan highlights key industries that will drive economic growth and job creation, outlines strategies to boost Texas’ global competitiveness, and offers data-driven recommendations to support economic development decisions across the state.
The plan accomplishes several objectives:
- Establishes a unifying vision for the future of the Texas economy.
- Identifies new target industry sectors and clusters expected to drive economic growth and job creation.
- Outlines objectives and initiatives to enhance the state’s global competitiveness.
- Provides data and recommendations to guide economic development decisions statewide.
“Texas is still the big, new frontier, where opportunity is abundant, where free enterprise flourishes, and where dreams, families, and jobs grow—Our past is but prologue; the greatest chapters have yet to be written. And the Lone Star State is brimming with promise," Governor Greg Abbott.
According to state documents, Texas has experienced significant economic growth over the past decade, with gross domestic product and workforce expansion outpacing national trends.
The state sets records for total jobs and is consistently ranked among the best places to start, relocate, or expand a business. If Texas were a country, its economy would rank as the eighth largest globally, surpassing nations such as Russia, Canada, and Italy.
However, this rapid growth presents challenges, including infrastructure demands, housing affordability, and the need to expand job opportunities across all regions. To sustain its competitive advantage, Texas requires a strategic economic development plan that guides the Texas Economic Development & Tourism Office while providing a shared vision for economic partners statewide.
The plan embraces Texas' unique approach to economic development—fostering an environment where communities, industries, and businesses drive growth and prosperity without imposing rigid priorities or disrupting the free market.
