In 1989, the 71st Texas Legislature passed legislation providing for the creation of the Texas Economic Development Corporation (TxEDC) to support the public purpose of promoting economic development in Texas. The TxEDC was created as a tax-exempt Texas nonprofit corporation in 1991 and is recognized by the Internal Revenue Service as a charitable organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended.
In 2003, the 78th Legislature passed legislation for the Governor’s Office to create the Economic Development & Tourism division.
In September 2003, with the support of Governor Rick Perry, the TxEDC launched the TexasOne™ Program to market and promote Texas as a premier business location.
In April 2013, the TxEDC board voted to further develop the TexasOne™ Program as a stand-alone, self-funded 501(c)(3) nonprofit organization, dedicated to economic development, business recruitment, and job creation in the State of Texas. In January 2015, the organization hired its inaugural President and Chief Executive Officer to lead TxEDC and the TexasOne™ Program.
In June 2016, the TexasOne™ Program became reintegrated under the larger umbrella of Texas Economic Development Corporation. Together with the Governor’s Office of Economic Development and Tourism (EDT), these two organizations make up the cornerstone of Governor Greg Abbott’s economic development agenda. The organization continues to be funded solely by member organizations and other donors; no state tax dollars are used to fund its activities.
In June 2017, Texas Economic Development Corporation, in close partnership with the Office of the Governor, launched “GO BIG IN TEXAS®,” to market and promote Texas as a premier business destination.