Texas wins 10th annual Gold Shovel for 2021 high-value projects
Texas celebrates a decade of dominance in attracting the most high-value economic development projects for states of more than 12 million residents with its win of a 10th Gold Shovel Award, Area Development magazine has announced.
Area Development recognized Samsung’s $17 billion planned semiconductor chip manufacturing facility, to be constructed in Taylor, Texas, in 2022, as one of the Manufacturing Projects of the Year. Samsung promises to create 1,800 new high-tech jobs at the new facility in Taylor, 28 miles northeast of Austin, Texas. Its $17 billion investment is the largest foreign direct investment in Texas on record.
Area Development also noted Walmart’s plans to invest $800 million in construction of an automated fulfillment center and an automated grocery distribution facility the Dallas-Fort Worth area that would contribute 1,300 jobs.
“We are looking forward to more good news about economic projects in Texas this year,” said Robert Allen, President and CEO of the Texas Economic Development Corporation. “Texas is the No.1 state for business with several advantages for CEOs looking to expand or relocate their businesses. These include the nation’s second largest workforce, outstanding quality of life, low tax burden, reasonable regulations, ease and lower cost of doing business, and state-of-the-art infrastructure. But in addition to its business-friendly climate, Texas welcomes new business and our state, regional and local economic development organizations are committed to providing these business with excellent support.”
The annual Gold and Silver Shovel awards recognize states for their achievement in attracting high-value investment projects that will contribute a significant number of jobs.
The awards are based on a number of factors, including the number of new jobs to be created in relation to a state’s population, the combined value of the investments, the number of new facilities and the diversity of industry represented. The 2022 awards recognize states with the Top 10 job creation and investment projects initiated in 2021.
Texas won the top spot in the 12+ million population category in 2021.