TXBIZNEWS
Walmart has announced plans to eliminate synthetic dyes and over 30 other ingredients from its U.S. private brand food products such as Great Value, Marketside, Freshness Guaranteed, and Bettergoods, with a target completion date of January 2027, as outlined in a recent corporate statement.
The Details:
- The initiative removes 11 synthetic dyes, such as Red No. 40 and Yellow No. 5, along with preservatives and artificial sweeteners, responding to customer demand for simpler ingredients while maintaining taste and value.
- The move affects all Walmart U.S. food private brands, supporting a more transparent food system and aligning with evolving health-conscious trends.
- Walmart President and CEO John Furner said, “Our customers want products with familiar ingredients, and we’re delivering on that promise.”
- The transition will leverage natural alternatives, with the company collaborating with suppliers to meet the 2027 deadline.
“Our customers have told us that they want products made with simpler, more familiar ingredients - and we’ve listened. By eliminating synthetic dyes and other ingredients, we’re reinforcing our promise to deliver affordable food that families can feel good about.”
- John Furner, President and CEO, Walmart U.S.
Why It Matters:
This shift could set a new standard for the U.S. food industry, boosting consumer trust and influencing market trends.
We hope you enjoyed today’s read!
TXBIZNEWS
Governor Abbott Appoints First Texas Cyber Command Chief
In September, Governor Abbott announced the appointment of retired Navy Vice Admiral Timothy “T.J.” White as the first chief of the Texas Cyber Command, a $135 million effort to bolster state cybersecurity, as detailed in a press release.
- White, with 33 years of experience including leading the U.S. Fleet Cyber Command, will oversee the San Antonio-based command, set to launch in 2026, protecting critical infrastructure, state systems, and data.
- The initiative will partner with federal agencies and universities to enhance cyber resilience for businesses and public services.
- Governor Abbott said, “Admiral White’s expertise will make Texas a national leader in cybersecurity.”
- The command, funded through the 89th Legislative Session, aims to safeguard Texas’s growing tech and energy sectors from cyber threats.
Why It Matters:
This move strengthens Texas’s cyber defenses, supporting economic stability and innovation across the state.
We hope you enjoyed today’s read!
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TXBIZNEWS
Rice University, in partnership with Rice Real Estate and Lincoln Property Company, announced the development of “The Arc” at the Ion District, a 200,000-square-foot research, lab, and office facility, as detailed in a press release.
The Details:
- The Arc will serve as a hub for energy, AI, data science, and robotics, co-locating Rice University researchers, startups, and corporate partners like Chevron and Microsoft, with construction starting in 2026 and completion targeted for early 2028.
- The Ion District, already 90% leased, will accelerate innovation from lab to market, creating hundreds of jobs and reinforcing Houston’s status as a global tech leader.
- Rice University President Reginald DesRoches said, “The Arc will drive economic growth by fostering collaboration and cutting-edge research.”
- The project builds on Houston’s energy capital foundation, attracting further investment.
Why It Matters:
This development strengthens Houston’s innovation ecosystem, boosting Texas’s economic competitiveness.
We hope you enjoyed today’s read!
TXBIZNEWS
Scotiabank Commits $60M to Expand Dallas Operations Description
On September 2, Governor Greg Abbott announced that Scotiabank will establish a major regional office in Dallas with a $60 million investment, creating over 1,020 new jobs, as detailed in a press release.
The Details:
- The project will develop a 100,000-square-foot hub in Dallas’s Victory Park neighborhood.
- Scotiabank CEO Travis Machen said, “This marks a significant investment in our U.S. operations, reinforcing our presence in Texas since the 1960s.”
- The office will prioritize local hiring, with at least 25% of jobs reserved for Dallas residents, and offer internships with Dallas College and other local institutions.
- Operations are expected to begin by late 2026, pending final approvals.
Why It Matters:
This investment bolsters Dallas’s status as a financial hub and supports Texas’s economic growth amid rising demand for financial services.
The USLege 2025 Best in Government Affairs Awards (Texas) celebrate the behind-the-scenes pros: staffers, lobbyists, association leaders, and firms who power late nights and early mornings in the Capitol!
Winners will be spotlighted on our 2025 webpage, receive a custom award badge + digital toolkit, and get promotion to 12k+ policy leaders and media partners. Nominations close October 2 - don’t miss the chance to recognize your peers!
Nominate someone today: https://uslege.involve.me/best-in-gov
TXBIZNEWS
On September 4, Toyota announced a $531 million investment to expand its manufacturing facility in San Antonio, underscoring its ongoing commitment to the region, as detailed in a press release.
The Details:
- The investment will add a 500,000-square-foot facility dedicated to drivetrain parts production, creating over 400 new jobs and enhancing production for the Toyota Tundra and Sequoia.
- The project builds on Toyota’s 20-year legacy in San Antonio, where it already assembles trucks and SUVs, and follows a $6.5 million grant to East Central ISD for STEM education.
- Rep. John Lujan said, “This expansion underscores Bexar County’s growing reputation as a hub for advanced manufacturing.”
- Toyota Texas aims to start production by mid-2026, reinforcing its role in the U.S. manufacturing supply chain.
- The move aligns with Toyota’s $531 million investment announced in June 2024, reflecting a continued focus on local growth.
Why It Matters:
This investment strengthens San Antonio’s manufacturing sector and supports Texas’s economic leadership in advanced industries.
We hope you enjoyed today’s read!
TXBIZNEWS
New Report: 60% of Small Businesses Use AI, Eye Cryptocurrency
On August 18, 2025, the U.S. Chamber of Commerce published the fourth edition of Empowering Small Business: The Impact of Technology on U.S. Small Business found that nearly 60% of small businesses use AI.
The Details:
- The report shows 58% of small businesses use generative AI, up from 40% in 2024 and double 2023’s rate, with 96% planning to adopt emerging technologies like AI and cryptocurrencies.
- 77% of AI-using businesses say limits on the technology would hurt growth and operations, while 82% reported workforce increases last year.
- Jordan Crenshaw, Senior Vice President of the Chamber’s Technology Engagement Center, said, “A fragmented regulatory landscape will significantly hinder their ability to compete… policymakers need a single national framework.”
- Hrag Kalebjian of Henry’s House of Coffee noted, “AI has been a game-changer… streamlining tasks like product descriptions and marketing emails.”
- The study also found 70% of small business owners are interested in cryptocurrency and stablecoins.
We hope you enjoyed today’s read!
TXBIZNEWS
Union Pacific Corporation (NYSE: UNP) and Norfolk Southern Corporation (NYSE: NSC) announced announced a merger that would combine the two companies' 50,000 route miles of railway lines across 43 states into a single coast-to-coast rail network.
The Details:
- The deal values Norfolk Southern at $85 billion, forming a $250 billion enterprise, with Union Pacific acquiring it for $320 per share—a 25% premium based on July 16, 2025, prices—issuing 225 million shares for 27% ownership.
- The merger will link 100 ports, streamlining freight delivery for manufactured goods such as steel and lumber and easing highway congestion, with a target closure by early 2027, pending regulatory and shareholder approval.
- Union Pacific CEO Jim Vena said, “This transaction advances the industry… benefiting customers, communities, and employees.”
- Norfolk Southern CEO Mark George added, “Our combined strengths will deliver for the American economy.”
- Expected $2.75 billion in annual synergies and job security for workers highlight the deal’s impact.
Why It Matters:
This merger is expected to enhance shipping efficiency, preserve jobs, and drive economic value across the U.S.
We hope you enjoyed today’s read!
TXBIZNEWS
BP Launches Argos Southwest Extension Project in US Gulf of America
On August 4, 2025, BP successfully started the Argos Southwest Extension project, its fifth major project launch this year, adding 20,000 barrels of oil equivalent per day (boe/d) to production in the US Gulf of America, as announced in a press release today.
The Details:
- The project, a three-well subsea tieback 5 miles southwest of the Argos platform, achieved first oil in 25 months—7 months ahead of schedule—setting a new bp record.
- Andy Krieger, bp’s senior vice president for the Gulf of America and Canada, said, “This project kicks off a period of significant growth for bp in the Gulf of America.”
- The expansion increases the Argos platform’s capacity, which began production in 2023 and can handle up to 140,000 barrels of oil per day.
- bp plans to boost Gulf production to 400,000 boe/d by 2030, with upcoming projects like Atlantis Drill Center 1 (15,000 boe/d in 2026) and Atlantis Major Facility (2027), plus the Kaskida platform (80,000 boe/d in 2029).
- Gordon Birrell, bp’s executive vice president, noted, “Our ability to move from discovery to first oil at record pace underscores our pursuit to grow shareholder value.”
Why It Matters:
This project enhances U.S. energy security and supports BP’s goal of profitable growth in the Gulf.
We hope you enjoyed today’s read!
TXBIZNEWS
Governor Greg Abbott announced a second Texas Energy Fund (TEF) loan agreement to fund a 456 megawatt (MW) natural gas power plant in Houston, built by NRG Energy Inc. (NRG), with operations expected by Summer 2026, as detailed in a press release last week.
The Details:
- Governor Abbott said, “This 456 megawatt investment… will help bear the load of the largest electricity demand area in the state, ensuring reliable and affordable power.”
- The Public Utility Commission (PUC) is providing a 20-year, $216 million loan at 3% interest, covering 60% of the $360 million project cost, to serve the ERCOT Houston Load Zone.
- PUC Chairman Thomas Gleeson noted, “The Texas Energy Fund is accomplishing… securing reliable, on-demand power to fuel Texas’ rapid growth.”
- NRG’s Robert J. Gaudette added, “The development… is already providing significant construction jobs and will enhance grid stability.”
- The plant, at the TH Wharton Generating Station, will create permanent jobs and support the fifth-largest U.S. metro area, including Houston and Pasadena.
Why It Matters:
This project strengthens Texas’s energy grid and economy amid growing demand, with 15 additional TEF projects proposing 8,392 MW.
We hope you enjoyed today’s read!
TXBIZNEWS
President Trump has introduced the federal AI Action Plan, a comprehensive strategy to enhance U.S. innovation and security.
The Details:
- The plan focuses on reducing excessive compliance hurdles by creating regulatory sandboxes for AI development.
- It prioritizes aligning energy demand with AI infrastructure needs through streamlined permitting for data centers and energy facilities.
- It aims to restore American semiconductor manufacturing to strengthen domestic production.
- The initiative includes workforce training programs, emphasizing AI skill development through career education and apprenticeships.
- It seeks to build and protect military, defense, and intelligence infrastructure to counter global threats.
»»» View the full action plan here «««
Why It Matters:
This plan positions the U.S. as a global leader in AI, addressing innovation, security, and economic competitiveness.
We hope you enjoyed today’s read!
Texas Stock Exchange (TXSE) Will Boost Texas’ Stature as Epicenter for Financial Services
Texas will soon be home to the nation’s newest stock exchange – the Texas Stock Exchange (TXSE). Backed by a group of investors who have raised $120 million for a new electronic trading platform, this was welcome – but not surprising – news for those of us who have long recognized that Texas is becoming a financial services powerhouse.
“With Texas, we are now the epicenter in the United States for capital, and now we seek to expand that by becoming the epicenter for capital markets,” Governor Abbott told Sunday Morning Futures following the announcement
The Texas Association of Business (TAB) supports the forthcoming establishment of the Texas Stock Exchange (TXSE), headquartered in Dallas, a region that has led the nation in financial services job growth since 2019.
This groundbreaking development not only cements Texas’s status as a leading hub for business and innovation, but also adds gravity to Texas’ stature in a universe previously dominated by New York. Positioned in a prime locale for a competitive stock exchange, the TXSE will bring competition and innovation to the industry.
As business leaders have observed, the establishment of TXSE in Dallas will have follow-on effects for Texas’ overall business growth.
Adam Gersting, Managing Partner at West Monroe’s Dallas office noted that: “Having the exchange here will add a level of prominence to the capital market segment in view and to the business environment overall. That may draw more businesses here and may provide avenues for greater growth through public investment, for example, in businesses that are here.”
Longtime Dallas business titan Mark Cuban hailed the establishment of TXSE after last week’s announcement:
“I think it’s an amazing and smart idea. It would be great for Dallas. Not just the jobs, but the improvement on digital infrastructure required, the focus on Dallas-based companies it would bring, and maybe most importantly, it would be a foundation for people to get a better financial education. It would certainly be a place schools took kids, even if it’s mostly just servers. I’m a huge fan of the concept.”
TXSE founder and chief executive James Lee made clear that the establishment of the exchange is well-timed to build on the momentum of “Texas’s booming economy and the strong economic and population growth among states in the southeast quadrant of the U.S.,” emphasizing that “Dallas has become one of, if not the most, dominant financial centers in the country, if not the world.”
Looking at the bigger picture, the creation of the TXSE is yet another testament to the importance of robust pro-business policies that have rendered Texas the ideal home for corporations poised for more growth and success.
Businesses of all sizes have consistently flocked to the Lone Star State, with a total of 297 headquarter relocations occurring since 2015. With 52 Fortune 500 companies already headquartered here, our state has earned a reputation for being the ‘headquarters of headquarters.’ CEOs perennially recognize Texas as the Best State for Business, and Site Selection magazine has for twelve straight years ranked Texas as the top state for new capital investment projects.
While other states burden businesses with punitive taxes and regulations, Texas remains steadfast in its commitment to promoting economic growth and improving our business climate. Texas last year passed legislation to establish specialized business courts comprised of Governor-appointed individuals with 10+ years of experience practicing business transaction law or complex civil business litigation. Contrast Texas’ clear commitment to a better business climate with New York’s proposed state tax on stock transfers—to which the Wall Street Journal editorial board responded:
“Go ahead, make the Texas exchange’s day.”
The establishment of the TXSE is the latest in a long string of new Texas business endeavors underscoring that policy matters for job creators and investors, and that capital goes where it is treated well. As we approach the launch of this transformative enterprise, TAB stands ready to support ongoing efforts to further solidify Texas’ position as a global leader in financial services.
Written by: TAB Chamber Business News
Texas Chamber Business News: Eliminating Cargo Traffic at Bridge of the Americas in El Paso Will Hurt Texas Business
By Texas Chamber Business News
In the El Paso region alone, ports of entry processed nearly $100 billion in trade in 2023, which is why we are deeply concerned by a new plan announced by the US General Services Administration (GSA) to eliminate all Cargo traffic at the Bridge of the Americas (BOTA) in El Paso.
On Monday, the Texas Association of Business (TAB) – along with binational business and private sector stakeholders from Texas and Mexico, including the Texas Trucking Association (TTA), the Confederation of Industrial Chambers of Mexico (CONCAMIN) and Mexico’s National Chamber of Cargo Transportation (CANACAR) – submitted a letter to the GSA strongly opposing this plan to halt commercial traffic crossing the border at BOTA, which sees roughly 500 cargo trucks cross the bridge daily. If this recommendation is implemented, the businesses that both operate and rely on these commercial vehicles will undoubtedly suffer, and the Texas economy will take a hit.
Importantly, GSA’s recommendation does not take into consideration the negative economic impact this action would have on both the local communities and broader binational region. Furthermore, the GSA failed to engage with the business community and other key stakeholders on both sides of the Texas-Mexico border who will be directly impacted by this ill-advised decision.
As TAB and our coalition partners wrote:
“These factors make it evident that the GSA has rushed to a conclusion without having gathered all the necessary facts, data, or analyses from the communities that will be most impacted. By your own admission during your recent public meeting, GSA is still in the data collection phase and soliciting stakeholder input, yet you have already decided to recommend an option that the business community strongly opposes, which will harm vital economies on both sides of the border. In addition, stakeholders are concerned about the lack of clarity as to what traffic projection studies your team has used in their process to determine your preferred alternative, as well as the dubious accuracy of those studies. This includes a complete lack of information regarding southbound traffic and only a recent attempt to capture this data with a small sample size at one port of entry. The regional port system will be unable to adjust to the abrupt changes outlined in your recommendation until there is a comprehensive understanding of the regional traffic system, including southbound data at the affected ports of entry.”
The ongoing development of critical infrastructure to support the growing cross-border commerce between Texas and Mexico, our top trading partner, is essential for the economic prosperity of our state. According to the Maquiladora Association of Juarez, over 300 foreign companies operate export factories in Juarez, Mexico, employing more than 313,000 people, with 95% of Juarez's exports destined for the U.S. market via El Paso.
Manuel Sotelo, Vice President of the Juarez chapter of Mexico’s National Chamber of Freight Transport (Canacar), says the closure of the bridge will have “catastrophic” economic repercussions for Texas and the U.S., telling FreightWaves:
“It would definitely be catastrophic if they were to limit cargo through the Bridge of the Americas.”
If GSA’s recommended plan moves forward, commercial traffic across BOTA would shift to the Ysleta-Zaragoza International Bridge, which maintains a bridge toll rate for cargo trucks of $9 for a vehicle with five axles, plus $4.50 for each additional axle. If the 500 cargo trucks using the BOTA each day were required to use another bridge, Ysela Molina, the President of Canacintra Juarez, anticipates a costly economic impact:
"These companies would face significant losses due to the additional cost of diverting shipments, estimating between $120 and $180 per shipment.”
El Paso Mayor Oscar Leeser has likewise expressed concern over this pending decision, telling local media:
"I would be very concerned that if we did close freight there, we may lose some of the business and some of the economic impact this has for the city.”
Past state-level efforts to address border security, like enhanced inspections on international ports of entry across the Texas-Mexico border, were met with concern from members of the business community. It’s important to note that these were only temporary measures that resulted in traffic bottlenecks, whereas the GSA’s recommended approach toward eliminating cargo traffic BOTA would be permanent, inflicting potentially wide-ranging and long-lasting harm on business communities on both sides of the border.
We are proud to stand alongside the business communities in Texas and Mexico, united in opposition to the elimination of cargo traffic at BOTA. We urge the federal government to withdraw its recommendation and to fully consider all relevant facts and feedback from the stakeholders most affected by this decision. Any decision without this essential data would be a disservice to the El Paso-Juarez business community, the Texas economy, and the increasingly integrated economies of the U.S. and Mexico.
To read the full letter, please click here.
We hope you enjoyed today’s read!
Texas Chamber Business News: End of Boeing Strike Benefits the State’s Aerospace Economy
Last week, the Boeing strike finally came to an end after nearly eight weeks when a new contract for mechanists was approved by the union. This resolution is a major win for Texas, a state with diverse and thriving industrial and aerospace sectors that were directly impacted by the strike. The Texas Association of Business (TAB) was proud to join a coalition of more than 53 employer organizations from 42 states to write a letter to Boeing’s leadership calling for an end to the costly strike. This positive development will clear the way for Boeing’s economic machine to restart, pumping economic activity back into Texas and throughout the nation.
As our coalition letter made clear, the impact of the strike has been wide-ranging and catastrophic:
“The ongoing production worker strike at Boeing is not only disrupting the regional economy of the Pacific Northwest but its impact is being felt across the entire U.S. economy. Countless companies in the aerospace supply chain are being forced to lay off employees due to decreased work orders.”
Local businesses, such as restaurants and retailers that rely on the aerospace industry as patrons, were facing lost sales and, potentially, layoffs for their employees.
The aerospace industry in particular is integral to the Texas and U.S. economic engine, directly employing more than half a million workers, supporting more than 2.2 million jobs, and injecting $425 billion into the U.S. economy, along with global exports worth $135 billion in American-made products. Texas has long been a leader in advancing cutting-edge technologies and hosting major players in aerospace manufacturing and defense innovation.
A prolonged strike threatened strategic investments in the aerospace sector that have led some to refer to the Lone Star State as the “Gateway to Mars.” Because Texas plays a critical role in strengthening America’s competitive edge on the global stage, the strike not only caused a disruption to the industry globally but also locally.
According to the Wall Street Journal, the end of the strike promises to “bring relief to Boeing’s sprawling supply chain,” but unfortunately the damage inflicted by the strike will be longer lasting, with the company confirming “it will be months before Boeing reaches the production levels that it had previously hoped to hit by the end of the year.”
Thanks to the efforts led by the Association of Washington Business in spearheading the coalition letter, with active support from TAB and our colleagues across the country, the business community can breathe a sigh of relief. With Texas on the brink of new, transformative efforts to lead in the aerospace industry – including the recent launch of the Texas Space Commission – it is important for the Lone Star State to remain the top power player on the global stage and maintain our steadfast commitment to innovation, collaboration, and key investments in infrastructure.
We applaud the resolution of this almost 2-month strike, which will allow Texas and the nation to refocus on advancing the dominance of our aerospace industry on the global stage and preserve our competitive position in international markets.
-Glenn Hamer, President & CEO, Texas Association of Business
We hope you enjoyed today’s read!
Texas Chamber Business News: New TSIF Grant Marks Significant Progress for Texas Semiconductor Industry
Texas has long been a hub for innovation and opportunity. From a robust energy sector to thriving tech ecosystems in Austin and Dallas, the Lone Star State consistently positions itself at the forefront of emerging industries, cementing its role as a leader in technology and research. This legacy continues with Governor Greg Abbott’s recent announcement of a Texas Semiconductor Innovation Fund (TSIF) grant awarded to Intelligent Epitaxy Technology, Inc. (IntelliEPI) for semiconductor production in Allen, Texas. The move underscores Texas’ pivotal role in advancing semiconductor research and manufacturing.
Texas ranks as the nation’s top state for semiconductor manufacturing, fostering strategic partnerships and investment in local talent and resources. With 11 Tier 1 research institutions and strong support from the Texas business community, the state is poised to advance groundbreaking research, cultivate startups, and bolster nearshoring efforts to enhance global competitiveness.
Governor Abbott highlighted the economic impact of the TSIF grant:
“I congratulate IntelliEPI on this $41 million investment in a new wafer production facility in Texas, nearly tripling their annual wafer production and contributing millions to the Texas economy. Thanks to companies like IntelliEPI, Texas will continue to lead the nation in critical semiconductor manufacturing capacity while developing the technologies of tomorrow.”
IntelliEPI, the only domestic producer of epitaxy-based compound wafers used in telecommunications, photonics, and other advanced technologies, aims to modernize Texas’ semiconductor landscape. CEO Dr. Yung-Chung Kao emphasized the grant’s importance:
“The funding will not only expand our production facilities but also solidify Texas’ position as a key hub for compound wafer manufacturing, which is essential for America’s national and economic security.”
The announcement follows the passage of the Texas CHIPS Act, which created the Texas Semiconductor Innovation Consortium (TSIC) to foster collaboration among industry leaders, academia, and policymakers, as well as the TSIF to provide financial support for semiconductor companies and research.
Governor Abbott stressed the significance of these efforts:
“Texas is the birthplace of the chip that changed the world. Significant industry investments announced in Texas over the past two years will further accelerate domestic semiconductor manufacturing, reduce reliance on foreign production, and strengthen our national security.”
Recent investments from major players like Samsung further demonstrate the industry’s momentum. Samsung’s $44 billion commitment includes $6.4 billion from the U.S. Commerce Department, authorized under the federal CHIPS Act. This funding reflects its broader mission to secure resilient supply chains and promote capital-intensive investments in Texas. These efforts are projected to generate tens of thousands of construction and manufacturing jobs, boosting the state’s economy.
By advancing domestic semiconductor production, Texas is ensuring that American markets remain competitive in a sector critical to modern life. From smartphones to advanced medical devices, semiconductors power nearly every facet of daily existence. Strengthening this supply chain is essential not only for economic growth but also for national security.
With continued investments from both the federal CHIPS Act and the TSIF, Texas is securing its place as a global leader in the semiconductor industry, driving technological innovation and economic prosperity.
We hope you enjoyed today’s read!
Texas Chamber Business News
TAB Takes Stand On Future of Texas Water
Texas 2036, the Texas Association of Business (TAB), and more than 40 local and regional business organizations across the state recently launched the Texas Water Fund Coalition. Citing the critical importance of water to the state’s economic and business climate, the Coalition’s central goal is to ensure the Texas Legislature establishes a dedicated revenue source to fund future water projects.
The need for investment is already apparent. A recent report from Rice University’s Baker Institute for Public Policy found that Texas’ underinvestment in water infrastructure is likely costing approximately $2 billion each year due to water loss from utility systems alone.
In the November 2023 Constitutional Amendment Election, Texas voters overwhelmingly passed Proposition 6, which created the Texas Water Fund and appropriated $1 billion to get the ball rolling on water infrastructure. Senator Charles Perry (R-Lubbock), the author of the legislation creating the Texas Water Fund, recognized it’s importance, emphasizing that the state already invests in roads, bridges, and the electric grid.
The establishment of the Water Fund was a crucial first step, but a larger challenge remains. Over the next 50 years, Texas 2036 anticipates our state will need to invest approximately $154 billion in water infrastructure to maintain our state’s high quality of life to continue attracting new residents, entrepreneurs, and businesses from around the world to grow and thrive here. This includes $59 billion in new water supplies, $73.7 billion to fix deteriorating water systems, and $21.1 billion to repair broken wastewater systems.
As David Leebron, President and CEO of Texas 2036 made clear, funding water infrastructure projects is foundational to our economic engine:
“The continuation of Texas’ economic miracle hinges on securing a dependable water supply that will support our state’s growing communities and economy
The Texas Water Fund Coalition believes securing Texas’ water future is not the responsibility of a single organization, industry, or government entity—it’s a shared mission that demands collective action. To read Texas 2036’s full report, Assessing Texas’ Water Infrastructure Needs, click here.
Glenn Hamer
President and CEO - Texas Association of Business
We hope you enjoyed today’s read!
Texas Chamber Business News
89th Legislative Session
With the 89th Legislative Session kicking off this week, the Texas Association of Business (TAB) opens its 2025 Policy Conference, featuring one-on-one fireside chats with Texas business leaders and public officials who will be at the forefront of crafting policies to make the Texas economic engine even stronger.
- Joe Lonsdale is managing partner at 8VC, an early-stage venture capital firm that manages over $6 billion in capital. He has co-founded several major companies including Palantir, Addepar, and OpenGov, and was the founding chairman of the University of Austin (UATX). He’ll speak about Texas’ unique position to support innovators and entrepreneurs who are working to promote ground-breaking solutions to complex challenges.
- Nicole Nosek is Chair of the Board of Texans for Reasonable Solutions, which works to remove barriers for Texans seeking to achieve the American Dream of homeownership. She’ll speak to how our state’s fast-growing population increases demand for housing opportunities as businesses expand and relocate to Texas.
- Adriana Cruz is the state’s Chief Economic Development officer and Executive Director of Governor Abbott’s Office of Economic Development and Tourism. She will speak to our state’s economic outlook and the work of her office in attracting businesses to relocate, expand, grow, and create jobs for Texans.
- Megan Mauro, TAB’s Executive VP and Chief of Staff and leader of the Tech Means Business Coalition will discuss policy priorities focused on maintaining the national epicenter of technology innovation and growth.
A discussion of ways to keep Texas a leader in innovation – including on policy related to Artificial Intelligence (AI) – will feature State Representatives Giovanni Capriglione (HD-98) and Oscar Longoria (HD-35) alongside Texas Space Commission Executive Director Norman Garza, Jr., Amazon’s Caroline Joiner, Thoughtful AI co-founder and CEO Alex Zekoff, and Ari Lehavi from Moody’s Analytics.
State Senator Kelly Hancock (SD-9) and State Representatives Dennis Paul (HD-129), Claudia Ordaz (HD-79), and Caroline Harris Davila (HD-52) will discuss how Texas can expand access to health care and lower costs. They’ll be joined by David Dross, who leads Mercer’s Managed Pharmacy Consulting practice nationally.
State Representative Richard Raymond (HD-42) along with TAB’s Gabriela Perdichizzi, VP of Government and External Relations; Texas Economic Development Corporation President & CEO and former Texas Workforce Commissioner Aaron Demerson; Texas CHIPS Office Executive Director Ariane Marion; and Ray Martinez III, President & CEO of the Texas Association of Community Colleges will discuss how to enhance our state’s leadership in semiconductor production and workforce development.
Senators Charles Perry (SD-28) and Nathan Johnson (SD-16) will join a panel on the state of energy in Texas and solutions for powering our current and future business growth. They’ll be joined by Katharine McAden, Google’s Head of Public Policy and External Affairs for the Southern U.S.
Registration for the conference remains open. Click here for more information and to register.
Glenn Hamer
President and CEO - Texas Association of Business
We hope you enjoyed today’s read!
Texas Chamber Business News
International Trade
International trade is critical to the Texas economy, which is now the 8th and soon to be the 7th largest economy in the world, having already surpassed global economic powerhouses like South Korea, Russia and Australia. As the nation’s top exporting state for 22 consecutive years, Texas thrives on robust trade relationships that fuel economic growth, support millions of jobs, and ensure the competitiveness of Texas businesses in the global market.
Five years ago, President Trump successfully negotiated the U.S.-Mexico-Canada Agreement (USMCA) – by far the best trade deal ever – with the unanimous support of every single member of the bipartisan Texas Congressional delegation. Since that time, this landmark agreement has fueled record-breaking trade and job growth in Texas. In fact, just under half of all Texas exports are to our partners in Mexico and Canada.
As we approach the agreement’s formal review process in July 2026, ensuring the USMCA is not only maintained but further strengthened is critical to the state’s continued economic success. To ensure the Texas business community has a leading voice and keeps its important seat at the negotiating table, the newly created Texas Leads Trade (TLT) coalition will:
- Defend Texas’ position as a global trade leader
- Reject policies that undermine economic growth
- Invest in border infrastructure and security
- Promote trade agreements that drive growth.
With these long-term goals in mind, it is important we focus on maintaining economic prosperity in the near term while also addressing the immediate challenges of illegal migration, border security, and the pouring of illegal drugs into our communities. As I told the Rio Grande Guardian last week:
“We feel that we can accomplish those goals while increasing our prosperity through the contours of the U.S.-Mexico-Canada Agreement, which, at its base and at its at its most fundamental level, calls for tariff-free trade, tax-free trade in North America.”
At the beginning of this week, President Trump and Mexican President Claudia Sheinbaum successfully came to an agreement whereby Mexico has agreed to enhance security at the U.S.-Mexico border, delaying any imposition of tariffs until next month, at the earliest. Shortly thereafter, Canadian Prime Minister Justin Trudeau announced that he had arrived at an agreement with President Trump to implement strategies to enhance security at the U.S.-Canada border, also delaying implementation of any tariffs by at least 30 days.
We applaud this important progress, as tariffs would only increase the price of groceries and gas, which affects all Americans but will disproportionately impact Texas as the most important state in the North American trading bloc.
Beyond the immediate concerns surrounding tariffs, Texas should double down on USMCA’s benefits—modernizing infrastructure, securing supply chains and keeping Texas as North America’s trade powerhouse.
The Texas business community is equally committed to maintaining and enhancing our North American trade relationships. During a recent panel I moderated in the Rio Grande Valley, Border Trade Alliance (BTA) Chairman Pete Sepulveda made clear that maintaining a tariff-free North America is critical to the competitive edge of the region and our entire state:
“At the end of the day, we know that tariffs are not a good thing. We’ve all seen what NAFTA did to the Rio Grande Valley, what USMCA has done. So, we don’t want to take a step back. BTA will be at the table during the review of the USMCA and we will do whatever we can to advocate for no tariffs.”
Dante Galeazzi, president of the Texas International Produce Association, emphasized the staggering impact of the region’s trade activity, particularly when it comes to healthy, affordable produce grown and transported across the Texas-Mexico border region:
“The RGV is where 70% of Texas’s fruits and vegetables are grown, in addition to where most of the fresh produce coming from Mexico is crossed. More than 9 billion pounds crosses from the international bridge…we’re talking about an economic impact to the state of roughly $25 billion.”
Texas also exports $35.9 billion in goods and $4.4 billion in services to Canada each year, while our neighbors to the north import approximately $37 billion in goods annually to the Lone Star State. Whether it’s the energy and technology industries, rare earths and critical minerals, semiconductors, or advanced manufacturing, trade with Canada has been key to supporting Texas’ innovation economy and further integrating our supply chains.
In North America, we now build things together. From auto manufacturing to aerospace and computer electronics, we build modern manufacturing marvels with our friends north and south. This important dynamic has played an important role in reshoring global supply chains away from East Asia, establishing Texas as the undisputed centerpiece of the North American economy and allowing us to more strongly compete against an ascendant China.
Texas wins with trade, and we want to do everything possible to maintain tariff-free trade with Mexico and Canada. As we look at the longer-term USMCA review process, we hope to find ways to further reduce non-tariff barriers so we can have an even more seamless trade with our North American trade partners and position Texas businesses large and small to better compete on the global stage.
To listen to my full interview on the core goals and key principles of TAB’s Texas Leads Trade coalition, click HERE.
Glenn Hamer
President and CEO - Texas Association of Business
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Texas Chamber Business News
New Poll Finds Texans Want Attainable Housing Solutions to Meet Rising Demand
This week, the Texas Association of Business and Chambers of Commerce Foundation (TABCCF) released the results of a new public opinion poll which found that voters in the Dallas-Fort Worth region have serious concerns about the availability and affordability of housing, and broadly support new options to ensure the rapidly growing North Texas community can meet the rising demand.
The poll, conducted by Ragnar Research Partners, surveyed likely voters in Collin, Denton, Dallas, Rockwall, Johnson and Tarrant Counties between January 5- 7. The results reveal that a supermajority of residents – 80% – agree there is a shortage of reasonably priced homes, including a plurality – 40% – who agree the shortage is a “serious problem.”
The poll also demonstrates that voters have general agreement on how Texas should address the shortage. Over 70% of voters support allowing the conversation of empty or underutilized office buildings to residential housing. 69% of voters also said they support allowing large acreage landowners to build homes for different levels of affordability. Additionally, 76% of voters surveyed agreed that it is unfair that only some property owners can change the use of their land.
State leaders have already sounded the alarm on the urgent need to address the emerging housing crisis.
Last August, Texas Comptroller Glenn Hegar warned that, even with the Legislature’s historic property tax relief and reductions in regulations last session, our state’s housing crisis “remains daunting” and that addressing it will be “key to our continued overall economic health.”
During his recent State of the State address, Gov. Greg Abbott made clear that the Legislature must take steps to make housing more affordable, acknowledging that “we need to make it easier to build, slash regulations and speed up permitting.”
Meanwhile, Lt. Gov. Dan Patrick has prioritized SB 15 to remove barriers to affordable housing.
Writing in the Dallas Morning News after the poll’s release, Texas Association of Business President & CEO Glenn Hamer and Texans for Reasonable Solutions Chair Nicole Nosek said Texas should learn the lessons from California’s housing affordability crisis in order to maintain the state’s superior business environment:
We know that when residents cannot find housing to fit their needs, businesses suffer because they struggle to recruit and retain the workforce they need. Skyrocketing housing costs were a major reason why states like California have hemorrhaged major corporations to states like Texas and Florida in recent years, according to a study by the Hoover Institution, a public policy research center at Stanford University. Will we learn from the housing affordability failures in states like California?
Hamer and Nosek pointed to several “commonsense” solutions to address the housing crisis proactively before it begins to impact Texas’ business climate:
- Texas needs to affirm the fundamental right for property owners in new neighborhoods to build detached townhomes on their own land. In new neighborhoods, Texas landowners with at least five undeveloped acres should have the power to build housing that’s more accessible and meets the needs of their communities — cutting through restrictive regulations and unleashing the full potential of Texas’ housing market.
- In the D-FW area, the TABF poll demonstrated that almost 7 out of 10 support this policy.
- Texas should unlock the full potential of vacant office space on commercial or mixed-use property. Already in the post-pandemic era, we’ve seen more than 13 major projects converting once-dormant office spaces into new housing units. Streamlining and incentivizing these types of projects, as seen through state Sen. Bryan Hughes’ SB 840, would help significantly expand missing middle living options for Texans closer to where they work. A proven model of success can be seen within Florida’s Live Local Act, which unleashed 15,000 new residential units within a year of being enacted.
- Roughly 71% of Texans in the D-FW area support this proposal.
To read the full results of the poll, click here.
Glenn Hamer
President and CEO - Texas Association of Business
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Texas Chamber Business News
Winner of Governor's Cup
Texas won its 13th consecutive Governor’s Cup from Site Selection magazine last week. The state saw more than 1,300 new business expansion and relocation projects last year, surpassing every other U.S. state. Also last week, Governor Abbott introduced his bold 'Bigger, Better Texas' economic plan, a blueprint to continue the state’s economic success.
As he announced the plan, Governor Abbott described his vision for the future of the state’s business climate, declaring:
“Texas is still the big, new frontier, a place where opportunity is abundant, where free enterprise flourishes, and where dreams, and families, and jobs grow… Our past is but prologue; the greatest chapters have yet to be written. And the Lone Star State is brimming with promise!”
Adriana Cruz, Executive Director of the Texas Economic Development & Tourism Office, emphasized that growing the state’s economy depends on coordinated efforts:
“Economic development is a team sport. That’s exactly why we have developed this statewide economic development strategic plan with the broader economic development ecosystem in mind. I invite you to join us in our mission to further cement Texas’ position as a global economic powerhouse and ensure our state remains the very best place to live, work, and visit.”
The Plan
The plan seeks to accomplish several objectives, including:
- Formulate a cohesive vision for the future of Texas’ economy;
- Identify established and emerging industries that are projected to drive economic growth and job creation;
- Detail objectives and initiatives that will help businesses and regions thrive;
- Promote the global competitiveness of Texas; and
- Provide tools and resources to support local economic developers in meeting their unique regional needs.
To read the full ‘Bigger, Better Texas’ Economic Development Strategic Plan, click here.
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TXBIZNEWS
Texas, the birthplace of the semiconductor, will lead U.S. manufacturing with NVIDIA’s new AI supercomputer facilities.
NVIDIA is bringing AI supercomputer production to the U.S., with Houston and Dallas at the forefront, the company announced on April 14, 2025. Texas, where the semiconductor was invented by Texas Instruments in 1958, will now become the nation’s leading semiconductor manufacturer, leveraging over a million square feet of new manufacturing space.
The Details:
- Houston and Dallas Hubs: NVIDIA partners with Foxconn in Houston and Wistron in Dallas to build AI supercomputer plants, with mass production starting in 12-15 months.
- Arizona Support: Blackwell chips are already in production at Taiwan Semiconductor Manufacturing Company’s (TSMC) Phoenix plant, with Amkor and Siliconware Precision Industries (SPIL) handling packaging.
- Economic Impact: NVIDIA’s $500B plan will add new jobs and amplify economic activity.
- Tech Innovation: NVIDIA will use AI, robotics, and digital twins like Omniverse to design and automate the facilities.
Why It Matters:
CEO Jensen Huang calls it a historic move, saying, “The engines of the world’s AI infrastructure are being built in the U.S. for the first time”. This decision exemplifies not only Texas's tech legacy but also jumpstarts the state's tech future.
The Catch:
Supply chain complexities may pose challenges. Therefore, watch for production updates as the project begins implementation.
Bottom Line:
Houston and Dallas are powering Texas’s return as the semiconductor capital and driving the future of AI infrastructure.
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TXBIZNEWS
RioPlex’s Texas Port to the Stars FDI Summit, held April 9-10, 2025 in Houston, brought together global leaders to position the Rio Grande Valley (RGV) and northern Tamaulipas as a top destination for foreign direct investment. The event comes as the Trump Administration pauses tariffs, boosting trade optimism. This initiative is the brainchild of CIL Logistics founder and president Joaquin Spamer.
The Details:
- Global Reach: Consulates from 17 countries, spanning Europe to Asia, attended to explore RGV opportunities.
- Leadership Spotlight: TAB’s Glenn Hamer moderated a panel with RGV mayors John Cowen (Brownsville), Norie Gonzalez (Mission), Norma Sepulveda (Harlingen), and Javier Villalobos (McAllen).
- Tariff Relief: The tariff pause under the USMCA strengthens Texas’s trade position, with 75% of U.S.-Mexico trade crossing Texas borders in 2024.
- RGV Assets: The region boasts 13 international bridges, seven airports, and a young workforce with a median age of 27-28.
Why It Matters:
Carlos Ealy, Texas Assistant Secretary of State for Mexican and Border Affairs, called the RGV “North America’s commercial artery,” emphasizing its role in global trade and innovation.
The Catch:
Tariff shifts could still impact trade, stay tuned for policy updates.
Bottom Line:
RioPlex’s summit marks the RGV as a rising star in international investment, fueled by Texas’s trade leadership.
We hope you enjoyed today’s read!
TXBIZNEWS
New TAB study highlights solar and wind’s role in stabilizing ERCOT’s growing grid
A Texas Association of Business (TAB) report, released April 16, 2025, demonstrates how solar and wind can enhance affordability and reliability in the ERCOT market amid rising demand. Conducted by Aurora Energy Research, the study projects peak demand reaching 99GW by 2030, driven by data centers and industrial growth.
The Details:
- Renewables could save $5.2 billion annually in system costs by 2035.
- Solar and wind help avoid a $225 yearly household bill increase.
- Flexible technologies ensure grid stability, meeting peak demand without shortfalls.
- ERCOT’s fast interconnection process has tripled renewable capacity since 2020.
Why It Matters:
The report underscores that renewables, combined with an all-of-the-above-and-below approach that includes gas, batteries, and nuclear, provide cost-effective power, supporting Texas’s economic growth and energy needs.
The Catch:
Thermal supply chain delays could limit backup capacity, monitor progress on new projects.
Bottom Line:
Texas’s renewable energy expansion, led by solar and wind, strengthens ERCOT’s future reliability and affordability.
»»» Read the Full Report Here «««
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TXBIZNEWS
HTX Labs, a Houston-based extended reality startup, has been awarded a $5.8 million U.S. Air Force contract to deliver AI-enabled immersive training for the Maine Air National Guard’s 101st Air Refueling Wing Maintenance Squadron, the company announced on April 17, 2025. The project focuses on maintaining the Boeing KC-135 Stratotanker’s F-108 engines.
The Details:
- Training Scope: HTX Labs will use its Empact platform to create a virtual classroom with AI-driven analytics for personalized training.
- Partnership: The initiative builds on prior work with the KC-135, following a Small Business Innovation Research Phase 2 project.
- Funding Type: The contract, a Strategic Funding Increase (STRATIFI), supports mission readiness for complex repairs.
- DoD History: HTX Labs has secured 30 contracts since 2019, totaling $45 million.
Why It Matters:
Defense tech remains a stable sector amid government spending cuts, with Texas firms increasingly pivoting to this space. HTX Labs’ AI tools help optimize high-skill training, enhancing operational preparedness.
Bottom Line:
HTX Labs’ latest contract strengthens Houston’s role in defense tech, leveraging AI to modernize Air Force training.
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🤝 Texas Venture Forum & Gala May 28–29
USLege is headed to the Texas Venture Forum & Gala May 28–29, sponsoring, speaking, and podcasting live from the floor. Join us for the conference and gala at the intersection of tech and government.
TXBIZNEWS
As Texans celebrated the 189th anniversary of the Battle of San Jacinto, Texas Roadhouse became the largest U.S. casual-dining chain in 2024, surpassing Olive Garden with a 14.7% sales surge to $5.5 billion, per Technomic Top 500 data released April 2025.
The Details:
- Texas Roadhouse added 26 new locations, a 4.1% increase, outpacing Olive Garden's 1.7% increase from 15 new restaurants. Olive Garden's sales grew only 0.8% to $5.2 billion
- Another Texas brand, Dallas-based Chili’s, ranks third on the Technomic list, reinforcing Texas’s dining influence.
- Texas Roadhouse’s stock has outperformed the Magnificent 7 tech stocks, with a 250.6% gain over five years
Why It Matters:
Texas Roadhouse’s rise aligns with Texas’s unique brand of food-focused diplomacy, as seen in Whataburger's national expansion and the growing global popularity of Texas BBQ. Texas Roadhouse’s ascent marks a new era of Texas-led dominance in U.S. casual dining.
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🤝 Texas Venture Forum & Gala May 28–29
USLege is headed to the Texas Venture Forum & Gala May 28–29, sponsoring, speaking, and podcasting live from the floor. Join us for the conference and gala at the intersection of tech and government.
TXBIZNEWS
ERCOT’s latest forecast highlights the need for an all-of-the-above and below energy approach.
The Electric Reliability Council of Texas (ERCOT) released its 2025 Long-Term Load Forecast Update on April 8, 2025, projecting peak demand will more than double to 218GW by 2031, up from 94GW in 2025.
The Details:
- Demand Growth: Data centers are expected to add 55GW of load by 2030, with peak demand rising from 94GW in 2025 to 208GW by 2030.
- Adjusted Forecast: ERCOT’s methodology scales data center load to 49.8% of requested amounts and delays in-service dates by 180 days, based on historical trends.
- Energy Strategy: An all-of-the-above-and-below approach, integrating renewables, gas, storage, and more, is essential to meet this demand.
- Applications: The adjusted forecast will inform transmission planning, resource adequacy, and outage scheduling.
Why It Matters:
ERCOT’s forecast highlights the need for a balanced energy mix to ensure grid reliability amid rapid demand growth from tech sectors.
Happening Now: ERCOT is forecasting peak demand to reach around 83,000 MW this Wednesday, May 14th.
That’s significantly higher than the May record of 77,000 MW and just shy of the all-time peak of 85,508 MW set in August 2023.
A few years ago, demand at this level would likely have triggered grid alerts, or even emergency conditions, but now their hourly projections are expecting an easy handling of this heat wave.
FULL REPORT: https://www.ercot.com/files/docs/2025/04/07/8.1-Long-Term-Load-Forecast-Update-2025-2031-and-Methodology-Changes.pdf
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🤝 Texas Venture Forum & Gala May 28–29
USLege is headed to the Texas Venture Forum & Gala May 28–29, sponsoring, speaking, and podcasting live from the floor. Join us for the conference and gala at the intersection of tech and government.
TXBIZNEWS
On May 3, 2025, residents near SpaceX’s South Texas launch site voted to incorporate the area as Starbase, Texas, making it the state’s newest city, as reported by AP News and KUT Radio.
The Details:
- Voter Support: Cameron County election officials confirmed the overwhelming 212-6 victory, with only 283 eligible voters in the proposed city boundaries.
- SpaceX Influence: The city encompasses SpaceX’s rocket testing and launch complex, with the company owning most properties in the former Boca Chica village.
- Historical Context: SpaceX began using the name “Starbase” in 2021, following its selection of the site in 2014, with major construction starting in 2018.
Why It Matters:
Starbase’s creation cements SpaceX’s footprint in Texas, driving economic growth in Cameron County and the State's space industry.
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🤝 Texas Venture Forum & Gala May 28–29
USLege is headed to the Texas Venture Forum & Gala May 28–29, sponsoring, speaking, and podcasting live from the floor. Join us for the conference and gala at the intersection of tech and government.
TXBIZNEWS
On May 12, NRG Energy announced a $12 billion acquisition of gas-fired power generation facilities from LS Power Equity Advisors, doubling its capacity to meet growing U.S. electricity demand.
The Details:
Deal Scope: The portfolio includes 18 natural gas-fired facilities across nine states, totaling 13GW, boosting NRG’s capacity to 25GW in key markets like Texas and the Northeast.
Demand Surge: CEO Larry Coben noted a “power demand supercycle”
Financials: The deal involves $6.4B in cash, $2.8B in stock, and $3.2B in assumed debt, with LS Power taking an 11% stake in NRG.
Earnings Boost: NRG expects a 14% annual earnings growth rate, up from 10%, following the acquisition set to close in Q1 2026.
Why It Matters:
This acquisition positions NRG to lead in meeting U.S. energy needs, especially in Texas, while enhancing grid reliability. NRG’s strategic buy signals confidence in Texas’s energy future amid a national power boom.
In addition to generation, NRG is acquiring LS Power’s commercial and industrial virtual power plant platform, CPower, which brings 6 GW of flexible, dispatchable demand-side capacity. This enhances NRG’s ability to balance grids in real time and appeal to large-scale energy users with more resilient, cost-optimized solutions.
The deal also strengthens NRG’s presence in high-growth verticals. By integrating gas generation with VPP capabilities, NRG is creating a more dynamic power portfolio built for the era of digital infrastructure.
With CPower’s proven market interface and energy efficiency programs, NRG can also offer demand response and grid services to utilities and ISOs, creating new revenue streams while helping further stabilize an increasingly complex grid.
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🤝 Texas Venture Forum & Gala May 28–29
USLege is headed to the Texas Venture Forum & Gala May 28–29, sponsoring, speaking, and podcasting live from the floor. Join us for the conference and gala at the intersection of tech and government.
TXBIZNEWS
On June 24, 2025, BlackRock launched the iShares Texas Equity ETF (NASDAQ: TEXN), providing investors with targeted exposure to the Texas economy through an exchange-traded fund, as detailed in a press release today.
The Details:
- TEXN tracks the Russell Texas Equity Index, investing in nearly 200 Texas-headquartered companies, with an expense ratio of 0.20%.
- Texas, with a $2.7 trillion GDP in 2024—growing at 3.5% annually—ranks as the world’s eighth largest economy, hosting 1 in 10 U.S. public companies.
- Since 2015, over 300 companies have relocated to Texas, which saw a population surge past 31 million in 2024.
- Joe DeVico, Head of the Americas Client Business at BlackRock, said, “TEXN presents a new opportunity… to capitalize on Texas’ twin engines of business and population growth.”
- BlackRock manages $380 billion in Texas public company assets, including $115 billion in oil and gas, serving 2.2 million Texas investor accounts.
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TXBIZNEWS
Stellar Bancorp Inc., the parent company of Stellar Bank and one of Houston’s largest community banking institutions, became the third major Houston-based company to list on NYSE Texas, the state’s newly launched electronic stock exchange. The move, announced on June 6, 2025, positions Stellar as the first bank holding company to dual-list on the Dallas-based platform while retaining its primary listing on the New York Stock Exchange under the ticker “STEL.” This milestone comes nearly two years after Stellar’s formation through the merger of Allegiance Bancshares Inc. and CBTX Inc., and reflects a broader trend of Texas-headquartered firms embracing the state’s evolving financial infrastructure.
The Details:
- Listing Details: Trading under the “STEL” ticker, the dual listing leverages NYSE Texas’s Dallas-based electronic exchange, launched to attract firms.
- Financial Growth: With $9.5B in assets (2025 estimate), Stellar Bancorp aims to enhance liquidity and visibility, following its 2023 NYSE debut post-merger.
- Economic Impact: CEO Robert Franklin hailed the move as a milestone, boosting investor access in Texas’s thriving economy, home to over 50 Fortune 500 firms.
Why It Matters:
Stellar’s listing strengthens Texas’s emerging financial ecosystem, supporting local economic growth.
D.R. Horton Inc., the nation’s largest homebuilder by volume and a Texas-based firm for nearly five decades, also announced the dual listing of its common stock on NYSE Texas. The company will maintain its primary listing on the New York Stock Exchange and continue trading under the ticker symbol “DHI.” In a statement, Chairman David Auld called the move a reflection of the company’s long-standing roots in Texas and its commitment to the state’s dynamic growth. “We are pleased to be a Founding Member of NYSE Texas and show our support to the state we have called home for nearly fifty years,” Auld said. NYSE Group Chief Development Officer Chris Taylor welcomed D.R. Horton to the new exchange, highlighting the company’s leadership in the housing sector and its foundational role in the Texas economy.
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