Episode 70: An interview with Texas Comptroller Glenn Hegar

In this episode of the CEO Insider Podcast, Ed Curtis speaks with Texas Comptroller Glenn Hegar. Hegar talks about how Texas is expanding rapidly in the business market, how Texas is the #1 state for job creation in the nation, and much more!

Topics covered include: Texas leads the nation in job growth in 2023. His travels across the state confirm that growth is occurring in all 12 economic regions in Texas. He and Ed discussed the financial services sector being a major growth sector (and top contributor to Texas GDP). Hegar shared that 20% of all value exported out of the US comes out of Texas, and that the economy is between 9-10% of US GDP. Texas is now the 8th largest economy in the world, with France next in line to surpass for 7th place.

The energy sector is growing based on increased demand from consumers and businesses. His statewide conversations have made him appreciate the complexity of the energy generation to consumers - and the demand gap that occurs in the late afternoon. He stressed his focus on keeping energy costs low, which will continue to attract investment into the state. His broadband plan is continuing to roll out, as over 3million households and businesses do not have access or reliable access to internet connectivity.

His team has been executing well on a statewide listening tour, and is working closely with internet service providers to provide reliable service through a competitive marketplace. The new economic development incentive program that replaced Chapter 313 is underway and is accepting applications. They received their first application and expect it to be a successful tool to continue to attract business into the state.

Last, the state has a $17B budget surplus. The state's rainy day fund is at $19B and is expected to be up to $24B shortly.

YTexas is an elite Texas business network for companies relocating, expanding and growing in the Lone Star State. The organization is the premier go-to resource for the most current insider information about Texas’ community, commerce and culture. YTexas provides a platform for the exchange of information and ideas, and fosters long-term, mutually beneficial relationships that help culturally integrate companies entering Texas. Headquartered in Austin, YTexas has received national acclaim for being at the forefront of economic development trends.