AUSTIN – Todd Staples, President of the Texas Oil & Gas Association (TXOGA) today issued a statement after HB 5 was heard by the Senate Committee on Business & Commerce:
“Texas has long been a business leader, recently winning Site Selection’s Governor’s Cup for the 11th year in a row and being named the Best State for Business for a record 19 years in a row by Chief Executive Magazine. Undoubtedly, countries and businesses choose to relocate or expand in Texas because of our low taxes, reasonable regulations, and skilled workforce—but all of this is at risk.
“Other states and nations are competing fiercely to land large projects, and in the past year alone, Texas has lost out on major projects because we lack an economic development program. To remain competitive, attract investment, create jobs, and generate tax revenue for our local communities and school districts, Texas must use the tools that other states and countries are using.
“TXOGA supports the creation of a modern, transparent and accountable economic development program, and we look forward to offering written comments on the Committee Substitute to HB 5 to ensure that the end result is a meaningful economic tool that benefits all Texans.”
Founded in 1919, TXOGA is the oldest and largest oil and gas trade association in Texas representing every facet of the industry.