February 19, 2010

Gov. Perry Announces LegalZoom to Move Up To 600 Jobs to Austin

AUSTIN - Gov. Rick Perry today announced the state will invest $1 million through the Texas Enterprise Fund (TEF) in LegalZoom.com for the relocation of certain office functions from Los Angeles to Austin. This investment will create up to 600 jobs and more than $11.7 million in capital investment.

"Texas is the best state in the nation for business, thanks to our low taxes, reasonable and predictable regulatory environment, skilled workforce, and incentives such as the TEF, which continues to be an essential deal closing fund for Texas," Gov. Perry said. "This investment in LegalZoom will bring up to 600 jobs and millions of dollars in capital investment to Austin, and strengthen Central Texas' economy."

LegalZoom provides online legal document services including LLCs, incorporations, last wills, living trusts, trademarks, patents and copyrights. The Austin office will include sales positions, order fulfillment, customer service and technical support representatives. LegalZoom plans to begin hiring immediately, and become fully operational in the coming months.

"We're thrilled with the City Council's vote and are very excited to move forward with our Austin expansion plans. Since we started in 2000 we've been based solely in Los Angeles. So selecting our first location outside of Los Angeles was a very big decision for us, which we carefully considered for over 6 months," LegalZoom President and Chief Operating Officer Frank Monestere said. "We sincerely appreciate the efforts of Governor Perry, the Austin City Council and Chamber of Commerce in crafting a very attractive incentive package through both the Texas Enterprise Fund and the City's Economic Development Program. Their hard work and warm welcome were instrumental in our selecting Austin as our second home."

At Gov. Perry's request, the legislature created the TEF in 2003 and re-appropriated funding in 2005, 2007 and 2009 to help ensure the growth of Texas businesses and create more jobs throughout the state. TEF projects must be approved by the governor, lieutenant governor and speaker of the House. The fund has since become one of the state's most competitive tools to recruit and bolster business. To date, the TEF has invested more than $388.6 million and closed the deal on projects generating more than 55,580 new jobs and more than $14.3 billion in capital investment in the state.

For more information about the TEF, please visit http://www.texaswideopenforbusiness.com/financial-resources/texas-enterprise-fund.html or http://www.governor.state.tx.us.

February 18, 2010

AUSTIN - Gov. Rick Perry today issued the following statement regarding the plane crash in Austin:

"In true Texas form, first responders and everyday citizens responded to today's plane crash with selfless acts of heroism, securing the area, evacuating the building and controlling the fire, and are to be commended. My office continues to communicate with local, state and federal officials on this incident, which is currently an open criminal investigation. With details still emerging, it is important to refrain from speculation and let the law enforcement experts determine what exactly unfolded."

Economic Progress Report

See all monthly time series graphs

Texas Economic Outlook

The Texas economy, the world's 12th-largest, continues to fare better than those of many other states. But Texas felt the effects of the worldwide recession during 2009.

According to the National Bureau of Economic Research, the U.S. economy peaked in December 2007 and entered recession. The Texas economy continued to grow through most of 2008, with employment peaking in October that year, then Texas joined the nation in losing jobs. During 2009, Texas' gross state product (GSP) declined more slowly than the U.S. economy (-1.7 percent versus -2.5 percent.)

Despite the state's economy contracting in 2009, Texas' relative economic advantage should continue as the state and U.S. economies turn around and expand again in 2010. Although job growth will continue to lag the renewed expansion of economic production, the Comptroller's office estimates that the Texas' GSP will grow by 2.6 percent during calendar 2010. The U.S. economy should grow at a slower rate of 2.0 percent during the year.

Jobs

• Texas lost 23,900 jobs in December 2009, following two consecutive months of job gains totaling 73,000.
• Texas' December 2009 unemployment rate was 8.3 percent, up from 8.0 percent in November. The January U.S. rate was 9.7 percent, down from 10.0 percent in December.
• The U.S. lost 4.0 million jobs from January 2009 to January 2010.
• The Texas unemployment rate has been at or below the national rate for 36 consecutive months.
• In the 12 months ending in December 2009, Texas lost 275,900 jobs.

Housing

• Thus far, Texas has weathered the national real estate crunch without significant damage to property values but sales and construction activity have slowed. Despite its continuing resiliency, Texas is not immune from the national real estate crunch.
• 5,048 building permits for single-family homes were issued in December 2009. The number of permits in the 12 months ending in December 2009 was 63,595, a decrease of 15 percent from the period one year earlier.
• Multi-family building permits are down, from 2,351 units in December 2008 to 993 units in December 2009. The number of permits issued in the 12 months ending in December 2009 was 16,541, a decrease of 66 percent from the period one year earlier.
• In December, sales of existing single-family homes in Texas rose year over year for the fourth month since early 2007.
• In Texas, the median price for existing single-family homes increased by 3.6 percent from December 2008 to December 2009.
• The Texas foreclosure rate has remained largely stable for the past three years. Texas experienced 12,225 foreclosure filings in January 2010.
• In January 2010, the Texas foreclosure rate was one in every 785 mortgages. This was substantially better than Nevada's one in 95, Arizona's one in 129 and both Florida and California at one in 187.

Consumer Confidence Index

• Consumer confidence has rebounded by 50 percent nationwide, but still remains pessimistic at a level of 55.9, which is more than 44 percent below its 1985 baseline level. Texas and surrounding states fared better than the rest of the nation. Texas' regional index rose to 71.9, 9.4 percent higher than January 2009.

Oil and Natural Gas

• The all-time high crude oil closing price was $145.29 on July 3, 2008.
• Crude oil futures closed at $75.28 per barrel on February 11, 2010, more than double the level of one year ago. Last winter's lowest price was $33.98 in February.
• In fiscal 2008, production tax collections for natural gas were up 42 percent over fiscal 2007. Tax collections for oil were up 72 percent.
• By contrast, in fiscal 2009 production tax collections for natural gas were down 48 percent over fiscal 2008. Tax collections for oil were down 39 percent.
• Natural gas and oil production tax collections are significantly lower for the first five months of fiscal year 2010 over fiscal year 2009.

Taxes

• Texas sales tax receipts for January 2010 were down 14.2 percent from January 2009.
• For fiscal 2009, state sales tax receipts are down 2.7 percent from fiscal 2008.
• Motor vehicle sales tax collections for fiscal 2009 were $2.569 billion, down 22.5 percent over fiscal 2008 amount.
• The nationwide core transaction price for a new car or truck during the first 15 days of January 2010 rose 2.73 percent to $25,631 from $24,949 in January 2009.
• For the first 15 days of January 2010, total national industry auto sales were 568,965 units, up 32.3 percent compared to first 15 days of January 2009.
• Nationally, the lease share of new vehicle purchases increased to 24.0 percent of new vehicle purchases; that's 8.0 percent higher than in January 2009.

Stimulus Package

• In Texas, an estimated $18 billion in federal stimulus money is flowing to state and local governments. The Comptroller's office is tracking the $14.3 billion that comes through the state Treasury. The Comptroller's analysis is ongoing. For the latest information, visit our ARRA Web site, A Texas Eye on the Dollars.

Cap and Trade

• Efforts to reduce greenhouse gas emissions could negatively impact the Texas economy. The state could see 173,000 to 425,000 fewer jobs than expected in 2030 as a result of increased energy prices from the cap and trade portion of the recently proposed bill. The resulting decline in gross state product is estimated to be between $25 billion and $58 billion.
• The Comptroller's office is continuing to analyze potential implications and assess how green jobs and energy efficiency programs in the proposals could offset negative impacts. For the latest information, visit our Cap and Trade Web page.

FACING FORECLOSURE?

KNOW THE FACTS AND PROTECT YOUR RIGHTS

COLLEGE STATION (Real Estate Center) - Texas is experiencing its highest residential foreclosure rate since the late '80s. All residential foreclosures are governed by strict statutory rules, and Real Estate Center attorney Judon Fambrough says homeowners in jeopardy should know these rules to protect their rights.

"For example, how many days' notice must the homeowner be given to satisfy the amount in arrears before the entire amount of the unpaid loan may be declared due and owing?" Likewise, Fambrough said, "What are the qualifications, if any, of the person who conducts the foreclosure sale? How many times a year can a foreclosure sale occur, and on which day of the week, and during what hours?"

These and other questions are answered in "A Homeowner's Rights under Foreclosure," available on the Center's website.

Jan. 26, 2010

Texas Parks & Wildlife takes Expo on the Road

San Antonio Rodeo Hosts First Life's Better Outside® Experience Event of 2010

AUSTIN, Texas - On Feb. 20-21 at the San Antonio Stock Show & Rodeo, Texas Parks and Wildlife Department will debut its new Life's Better Outside® Experience, in effect taking its TPW Expo on the road. In San Antonio and at similar events this year in Houston, Longview and Corpus Christi, visitors of all ages can try fishing, archery, birding, rock climbing, camping, Wildlife CSI, and other activities, with gear and guidance provided free.

This past October, TPWD leaders announced the Austin-based Texas Parks and Wildlife Expo would be suspended for at least two years due to declines in sponsorship support related to the recession. On the up side, the decision gave additional impetus to expand department outreach efforts beyond Central Texas.

"The goal of the Life's Better Outside® Experience is to provide hands-on outdoor activities for families, youth and children who do not currently enjoy the outdoors, and to introduce them to these activities which can lead to conservation of our natural and cultural resources," said Ernie Gammage, TPWD urban outdoors program leader and former Expo director.

"Moving around the state will allow us to reach Texans who might not have had an opportunity to come to Austin," Gammage explained. "Each event will focus on outdoor opportunities in that region of the state, with information on nearby state parks, good spots to go fishing, paddling, camping and much more. This will also help to connect families to outdoor groups in their area."

"Our goal remains the same: to engage underserved audiences and bring more people into the world of the great outdoors," Gammage emphasized. "One of our core beliefs is that recreation leads to conservation. By introducing Texans, especially urban Texans, to outdoor recreation, the outdoors becomes more relevant to them. They come to care about it and finally to care for it."

The Life's Better Outside® Experience schedule for 2010 is:

• February 20-21, at San Antonio Stock Show and Rodeo - www.sarodeo.com
• March 6-7, at Houston Livestock Show and Rodeo - www.hlsr.com
• April 24-25, at Buc Days Celebration, Corpus Christi - www.bucdays.com
• June 5-6, at AlleyFest, Longview - www.alleyfest.org

More information about events and opportunities across Texas involving nature, history and the outdoors is on the TPWD Web site.

---
On the Net:

• http://lifesbetteroutside.tpwd.state.tx.us/lboexperience.phtml
• http://www.tpwd.state.tx.us/newsmedia/calendar/