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Texas receives award for attracting high-value economic projects
This marks the 19th consecutive year Texas has been recognized with either a Gold or Silver Shovel.
Texas brings home the Gold, with a list of top projects worth $21 billion in total investments / Image - Area Development magazine
Governor Greg Abbott has announced that Texas has been awarded the 11th Gold Shovel Award by Area Development magazine. This award is a testament to the state's role as a leader among the most populous states in attracting high-value economic development projects, which have generated a substantial number of new jobs.
Area Development’s annual Shovel Awards recognize states for their success in attracting high-value investment projects that generate substantial employment. The rankings are based on factors such as the number of new jobs created relative to the state’s population, the total dollar amount of company investments, the number of new facilities, and the diversity of industries represented.
"Texas again brings home the gold when it comes to attracting high-value business investments that create good-paying jobs for hardworking Texans across our great state," said Governor Abbott. “I am proud that Texas is recognized with another Gold Shovel Award by Area Development magazine, and I congratulate our local, regional, and statewide economic development partners on this achievement.”
“Each year, we scan the records of project announcements to see which states are epicenters of growth. Those with exceptionally strong activity are honored with Gold and Silver Shovel Awards,” a press statement from Area Development noted. “Among the biggest states, those with at least 12 million residents, Texas brings home the Gold, with a list of top projects worth $21 billion in total investments.”
This comes after major Indian companies such as Aditya Birla Group and JSW Steel USA announced significant investments. Aditya Birla Group plans a $50 million investment in a Texas manufacturing and R&D center to enhance regional presence and innovation. JSW Steel USA will invest $110 million to modernize its Baytown steel plate mill, lauded by Ambassador Eric Garcetti for its economic and industrial advancements.
Additionally, Area Development highlighted Texas for securing $21 billion in business expansion and location projects. Among the notable investments is ZT Systems in Georgetown, a cloud-computing manufacturing facility projected to create up to 1,500 jobs, recognized as a Project of the Year.
Governor Abbott emphasized the collaborative efforts behind Texas' economic achievements, attributing success to local, regional, and statewide partnerships. He expressed optimism for continued growth and development across the state.
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