New five-year economic plan aims to boost jobs, innovation, and global competitiveness in Texas

Austin, Texas – In a move that highlights Texas’ unwavering commitment to economic growth and job creation, Governor Greg Abbott has officially proclaimed May 12 through May 16, 2025, as Economic Development Week across the Lone Star State.

The announcement recognizes the tireless efforts of local, regional, and statewide organizations that help build a stronger Texas economy. From attracting new business investments to supporting existing enterprises, these partnerships form the backbone of the state’s long-standing reputation as an economic powerhouse.

“Texas is where the future is building — where opportunity is abundant, where free enterprise flourishes, and where families and jobs grow,” said Governor Abbott. “The key to Texas’ unrivaled success in economic development is teamwork. It takes a collaborative effort from organizations across the state to attract new businesses, investments, and jobs, as well as help existing Texas companies grow. By working together with all of our economic development partners across the state, we will build a stronger, more prosperous Texas for generations.”

That spirit of collaboration, Abbott emphasized, is what fuels the state’s continued momentum. The Governor credited the success to the collective drive of economic development professionals, local leaders, and private sector stakeholders working hand-in-hand to cultivate opportunity across all regions of Texas.

The proclamation comes on the heels of several significant accolades for the state. Texas was once again named the Best State for Business by Chief Executive magazine — a title it has held for an unprecedented 21 consecutive years. Additionally, Texas secured the 2025 Prosperity Cup from Site Selection magazine, further cementing its dominance as a leader in business recruitment and expansion.

Together, these wins earned Texas the so-called “Triple Crown Trophy,” symbolizing the state’s status as the top-ranked economy in the country.

The Governor also recently unveiled a new five-year statewide strategic plan for economic development. The plan outlines a bold framework for driving future investments, supporting innovation, and growing jobs across a wide range of sectors — from energy and advanced manufacturing to life sciences and digital technology.

Key to implementing this vision is the Texas Economic Development & Tourism Office (EDT), which plays a central role in promoting Texas both nationally and internationally. The EDT works with partners across the public and private sectors to ensure Texas remains a premier destination not only for business but also for tourism and long-term residency.

As Economic Development Week gets underway, leaders across Texas are expected to celebrate the progress made — and look ahead to what’s next. With a forward-thinking agenda and a collaborative spirit, Texas continues to position itself as a beacon of opportunity for generations to come.