Texas Legislature Fully Funds Texas Enterprise Fund (TEF), Governor's University Research Initiative (GURI)
Monday, July 17, 2017
Texas' most powerful deal-closing incentive and university grant program will continue to fuel the Texas economy.
After signing into law the budget passed by the 85th Legislature, Governor Abbott stated “this budget ensures the workforce of today and tomorrow have the resources they need to keep Texas’ economy growing and thriving.” Two of these resources were the Texas Enterprise Fund (TEF) and the Governor’s University Research Initiative (GURI), which were fully funded at $107M and $40M respectfully.
The Texas Enterprise Fund (TEF) is a cash grant used as a financial incentive tool for projects that offer significant projected job creation and capital investment. This highly competitive incentive is used when only a single Texas site is opposing another viable out-of-state option.
Since 2004, the TEF has awarded over 100 grants totaling more than $600 million across a wide variety of industries and projects, including Toyota’s recent North American headquarter relocation, Jamba Juice, Galderma, McKesson Corp., Jacobs Engineering and many more.
The Governor’s University Research Initiative (GURI) is a matching grant program designed to assist eligible institutions of higher education in recruiting distinguished researchers. Since its inception following the 84th Legislature, GURI has helped to recruit 9 distinguished researchers to Texas A&M, the University of Texas at Austin and the University of Houston. These transformative researchers will in turn serve as economic catalysts to the Texas economy for years to come. https://businessintexas.com/about/office-governor