Recently in 08) Economic Development Category

Tax Free Weekend is upon us, and the Chamber encourages you to shop Irving's many fine retailers during this time of savings. A great directory of retailers is available via the Chamber's membership directory. Additionally, the office of the Texas Comptroller provides the following information:  

Tax Free Weekend in Texas: A Definitive Resource:
Texas shoppers get a break from state and local sales taxes on August 20, 21 and 22 - the state's annual tax holiday. Lay-away plans can be used again this year to take advantage of the sales tax holiday.

As in previous years, the law exempts most clothing and footwear priced under $100 from sales and use taxes, which could save shoppers about $8 on every $100 they spend. Backpacks under $100 and used by elementary and secondary students are also exempt. A backpack is a pack with straps one wears on the back. The exemption during the sales tax holiday includes backpacks with wheels, provided they can also be worn on the back like a traditional backpack, and messenger bags. The exemption does not include items that are reasonably defined as luggage, briefcases, athletic/duffle/gym bags, computer bags, purses or framed backpacks. Ten or fewer backpacks can be purchased tax-free at one time without providing an exemption certificate to the seller.

School Supplies
The 81st Texas Legislature passed HB 1801 (2009) expanding the list of items qualifying for exemption from Texas state and local sales and use taxes during the annual sales tax holiday in August. In addition to clothes, footwear and some backpacks, Texas families also get a sales tax break on most school supplies priced at less than $100 purchased for use by a student in an elementary or secondary school.

The following is an all-inclusive list of qualifying school supplies (if priced less than $100):

No exemption certificate is required - with one exception. If the purchaser is buying the supplies under a business account, the retailer must obtain an exemption certificate from the purchaser certifying that the items are purchased for use by an elementary or secondary school student. "Under a business account" means the purchaser is using a business credit card or business check rather than a personal credit card or personal check; being billed under a business account maintained at the retailer; or is using a business membership at a retailer that is membership based.

List of Clothing, Footwear and Backpacks, and Their Exemption Status

A word of caution: If you sell items that do not qualify for the exemption, you may not advertise or promise that you will pay your customers' sales tax. Additionally, you are prohibited from advertising that you will not collect sales tax on items that do not qualify. You may advertise that tax is included in the sales price of the taxable items that you sell, however.

For information on how to report tax on these sales, please visit Reporting Sales Tax on Tax-Free Items or call (800) 252-5555.

The Chamber has released a study of the economic impact of eleven Irving-based businesses within the DFW Airport Corridor.  The analysis compiled by consulting firm, Angelou Economics, comes as part of an international marketing program initiative led by D/FW International Airport.

The marketing campaign aims to boost the visibility and reputation of North Texas throughout the world and to add and retain international air service to the world's third busiest airport.  To support this goal, the Greater Irving-Las Colinas Chamber, the Irving Convention and Visitors Bureau, along with chamber and convention and visitors bureau representatives from Dallas, Fort Worth, Grapevine and Arlington are working in partnership on the project.

The Chamber helped guide Angelou Economics in compiling data regarding the economic impact of the following Irving-based businesses located in close proximity to D/FW Airport: Aviall, ExxonMobil, Fluor, Flowserve, NEC, Nokia, NCH Corp, Microsoft, RIM, Citi and Allstate.

Key findings of the Economic Impact of Key Businesses near DFW study indicate that the economic impact from these eleven corporations on the DFW area is more than $8.7 billion annually.  These businesses also indirectly support 20,768 jobs and create $231.8 million in additional retail sales for the area.

Facilities were built for all of these major businesses with an investment of over $1 billion.  The initial construction for these businesses created an additional $1.75 billion in economic activity, more than 10,600 one-time jobs, and $606.6 million in employee income. 

Tax revenues from these Irving-based businesses average nearly $900 million annually for Dallas County, the State of Texas and the United States.  Along with this finding, the one-time construction of facilities for these businesses drew nearly $150 million additional tax dollars. 

"Irving's strategic location adjacent to D/FW Airport is clearly a major factor in the success of the businesses examined in the study, and it is a primary draw for relocating businesses as well," said Chamber President / CEO, Chris Wallace. "As a leading pro-business city with easy access to both coasts and to points all over the world, Irving is well-positioned for continued growth and economic success."

HMS, Clorox, TWG Insurance and Shared Technologies are among the companies who have chosen to relocate operations to Irving in recent weeks.  The Chamber-managed Irving Economic Development Partnership has initiated 78 new relocation or expansion projects this fiscal year.

 Angelou Study

U.S. Energy Secretary Steven Chu has announced that $30 million in funding from the Recovery Act and FY 2010 budget appropriations will be made available to qualified small businesses to support the commercialization of promising new technologies.   The funding announcement builds on the Department's existing efforts under the Small Business Innovation Research program (SBIR) and the Small Business Technology Transfer program (STTR) to develop near-term clean energy technologies and support American small businesses that will play an important role in building the clean energy economy of the future.  This is the first time DOE has offered Phase III awards under these small business programs.
 
"Small businesses are engines of job creation and innovation, and we need their ingenuity and entrepreneurial spirit to drive a clean energy economy," said Secretary Chu. "By helping America's small businesses bring these innovative technologies to market, we will spur economic growth and help reduce the country's energy use."
 
Small companies previously awarded Phase II grants through DOE's Small Business Innovation Research program (SBIR) or the Small Business Technology Transfer program (STTR) are eligible.  Projects that include developed technologies with a strong potential for commercialization and impact on U.S. manufacturing and job creation are encouraged to apply.  Successful applicants may receive up to $3 million over 3 years to research, develop and deploy new technologies. 

Applications are currently being accepted for the following technology areas of interest:

Biomass Technologies

1. Harvesting/Dewatering Technology for Algal Biofuels Production.

Buildings Technologies

1. Transitional Technology for Organic Light Emitting Diodes (OLEDs)
2. SSL Products made from Organic Light Emitting Diodes (OLEDs)
3. "Core" Technology for Organic Light Emitting Diodes (OLEDs)  

Fuel Cell Technologies

1. Advanced Materials for Fuel Cell Technologies
2. Bio-Fueled Solid Oxide Fuel Cells

Geothermal Technologies -  High Temperature Tools and Sensors 

1. High Temperature Downhole Tools 
2. High-Temperature-High-Volume Lifting  
3. High Temperature Downhole MWD Tools for Directional Drilling

Industrial Technologies

1. Sensors and Controls  
2. Industrial Membrane Process Systems   
3. Advanced Materials 
4. Integrated Reaction-Separation using non-thermal processes
5. Mitigation of Heat Losses, Fouling, and Scaling in key Manufacturing Unit Operations. 

Solar Technologies - Lowering the Cost of Photovoltaics through Innovative Augmentation

1. Lightweight, Flexible and Low Cost Multi-junction Solar Cells:
2. Static Module PV Concentrators:
3. New Methods of Crystallizing Silicon: 

Vehicle Technologies

1. Technologies to Address Internal Heating in DC Bus Capacitors 
2. Improved Magnetic Materials for Motors
3. Advanced Materials for Lightweight Vehicles 

Wind Technologies

1. Advanced Wind Power Technologies and Systems:  

Fossil Energy

1. Pollution control
2. Advanced power systems
3. Stationary power fuel cells
4. Clean fuels
5. Carbon sequestration
6. Recovery of oil, natural gas, and methane hydrates
7. Advances in materials, sensors, monitors, controls, biotechnology, and computational processes

Electricity Delivery and Energy Reliability

1. Smart Grid Technologies and Systems
2. Electric Transmission Technologies
3. Superconducting Technology for Power Equipment 
4. Advanced Materials for Power Electronics and Energy Storage

Nuclear Energy

1. Advanced Instrumentation and Control, Radiation Resistant Sensors, and Wireless On-Line Monitoring Systems for Nuclear Power Plant Applications

The deadline for submission of applications is August 4, 2010, at 8:00 p.m. EST.
 
To learn more about the application process, visit: DOE FY 2010 Phase III Xlerator Program.

Perhaps you saw the Dallas Morning News' story on the redevelopment in downtown Irving. The old McDonald's Restaurant has come down and will soon be replaced by another McDonald's.  However, it's not going to be your average McDonald's. Reports indicate it will be the largest in Texas!

The Morning News posted some photos, and here are a couple more from the demolition.

UPDATE:  Steve Brown over at the Dallas Morning News has the story here as well.

HMS Holdings Corp., headquartered in New York City, announced today that it has purchased 5615 Highpoint Drive in Irving, Texas as the new national headquarters for its wholly owned subsidiary HMS. HMS, a leading provider of innovative cost containment solutions for government and commercial healthcare programs, currently employs 671 people in Irving, occupying 84,000 square feet.  With this purchase, HMS will expand into 223,498 square feet.  

The Greater Irving-Las Colinas Chamber of Commerce-managed Irving Economic Development Partnership has been actively engaged in working through the details of this relocation, which is expected to bring upwards of 350 new jobs to Irving.
 
"We are very pleased that HMS will be expanding its operations in Irving to now include their corporate headquarters," said Chris Wallace, Chamber President / CEO. "The Chamber is proud of our great partnership with this successful company and appreciate how engaged their leadership is within our community."

The company will add jobs and operations from such areas as executive management, administration, finance, accounting, IT, sales, and customer service and support. With the presence of its corporate headquarters, the company reports it expects to fill 1,000 hotel rooms in Irving annually.
 
"HMS is proud to be expanding our footprint in Irving-Las Colinas," said Bill Lucia, Chief Executive Officer of HMS. "Irving has proven to be a great location for our employees to both work and live. We look forward to growing HMS's involvement and visibility in the community."

Built in 1983, 5615 Highpoint Drive is a Class B office building, renovated in 2007. Details are still to be finalized and are pending final City Council approval.

Gov. Perry Meets with Companies Interested in Texas

SHANGHAI, China - Gov. Rick Perry spent his fourth day in China, and last day in Shanghai, meeting with business executives interested in Texas as a location for expanding their companies.

"For eight years, Texas has exported more products than any other American state, supplying everything from sophisticated computers to coal to our global trading partners, including China, our third largest export-import relationship," Gov. Perry said. "Our state continues to attract new businesses with our favorable business climate, such as the more than two dozen Chinese companies have a presence in Texas."

Gov. Perry met with executives from Yum! Brands Inc, the world's largest restaurant company, whose operations include KFC, Pizza Hut, Taco Bell and Long John Silver's. Pizza Hut is headquartered in North Texas.

Later in the day, the governor and members of the delegation traveled to Beijing, where they will meet with government officials and business leaders regarding potential investments in Texas.

The 2010 expo began on May 1 and will run through Oct. 31, 2010, and is expected to draw 70 million visitors from more than 170 nations. A projected 5 million to 6 million visitors will tour the U.S.A. National Pavilion, which will build on the EXPO's theme, "Better City, Better Life," by showcasing America as the place of opportunity, diversity, innovation, success, sustainability, health and nutrition, and technology.

The governor and first lady's trips are being paid for by TexasOne, which is the fundraising program for the Texas Economic Development Corporation. No tax dollars are being used for the Perrys' travel and accommodations on this trip.

For more information please visit www.usapavilion2010.com.  

Washington Examiner: White House says 51 percent of company health plans won't meet Obamacare guidelines

At Investor's Business Daily, Sean Higgins and David Hogberg have a doozy of a story:

Internal White House documents reveal that 51 percent of employers may have to relinquish their current health care coverage by 2013 due to ObamaCare. That numbers soars to 66 percent for small-business employers.

The documents - product of a joint project of the Labor Department, the Health and Human Services Department and the IRS - examine the effects new regulations would have on existing, or "grandfathered," employer-based health care plans.

Draft copies of the documents were reportedly leaked to House Republicans earlier in the week. Rep. Bill Posey, R-Fla., posted them on his Web site Friday afternoon. )

An early draft of an administration regulation estimates that many employers will be forced to make changes to their health plans under the new law. In just three years, a majority of workers - 51 percent - will be in plans subject to new federal requirements, according to the draft.

Cornyn Outlines Job-Killing Policies in Tax Extenders Bill
Stresses That Bill Furthers Deficit Spending, Levies New Taxes on Small Business

WASHINGTON-- U.S. Senator John Cornyn, R-Texas, today went to the floor of the U.S. Senate to outline and explain a number of issues embedded in the tax extenders bill including deficit spending and new taxes on entrepreneurs and small businesses. The following remarks are excerpts from his speech:

Introduction

"Mr. President, I rise to discuss the Raising Jobs and Tax Loopholes Act of 2010. Sometimes it's spoken of as the tax extenders bill. But in reality, it is a deficit extending bill. The reason I say that is because the substitute amendment still adds a reported $55 billion in red ink to the deficit. More deficit spending is simply irresponsible.

Tax Extenders as a National Economic & Security Issue

"Our national debt, as we know, is now $13 trillion. Three trillion of the $13 trillion of debt has been added since the time President Obama has been sworn into office. Congress is spending money in a way that would give drunken sailors a bad name.

"The best way to reduce our strategic and economic risks associated with our debt is to stop spending the money that we don't have. Every family, every business in America when they run out of money, they don't just continue to try to max out their credit card. The problem is the credit card of the federal government knows no limits. Only the federal government can continue to print money and rack up debt and hope and pray that countries like China will buy that debt in the future. It's got to stop.

Tax Extenders Bill Hampers Jobs & Economic Growth

"Now, supporters of this bill will tell you that this proposal is all about targeting the hedge fund managers on Wall Street and suggesting that this is payback or due retribution for the havoc that a handful of people have wrought on the American financial system. But this proposal would not target the people who caused the financial meltdown. This targeted provision would have a devastating effect on Main Street in Illinois, in Montana, in Texas, in Pennsylvania, and everywhere around this country.

Thune Alternative
"Mr. President, it is telling and it's also disappointing that the Senate earlier today rejected the Thune alternative, which I cosponsored. Instead of increasing the budget deficit by $55 billion, which this bill does as it currently has been offered, the option offered by the Senator from South Dakota would have reduced the deficit - reduced the deficit -- by $68 billion and extended the expired tax provisions. It is baffling to me why we would reject, why the Senate would reject an opportunity to do what, on a bipartisan basis we want to do, extend these tax benefits for the benefit of the American people, but to do so in a way that's fiscally responsible. I just don't get it.

Tax Extenders Deter Domestic & Global Investment in U.S. Economy

"Mr. President, if the Senate adopts the legislation before us, it will send another clear message. It will tell investment firms and real estate partnerships, it will send the message that you have been punished for taking risks, you have been punished for creating jobs, and you have been punished for success. For all other American entrepreneurs, it will send the message that it may not have been you this time, but you're next. The next time the big spenders want more money to grow the size of the federal government, your company; your business could be the next on the chopping block. To global investors -- and we know that in the globalized economy, there are people all around the world that have a lot of different choices in where they want to start their business. Unfortunately, to these global investors, it will send the message, if we pass this bill as written, America does not want your business. America does not want your business.

Conclusion

"And to the 15 million Americans who are unemployed -- 15 million Americans -- including the 472,000 who filed for unemployment claims for the first time last week, this legislation will send the message that Washington's priority is not in creating jobs. Washington's priority is to grow the government. Mr. President, I don't think these are the messages that we should be sending. I urge my colleagues to oppose this substitute amendment."

As we mentioned last week, the Chamber is really stepping up in its effort to promote diversity amongst its membership.  On Thursday, June 17, the Chamber hosted a South Asian Community Reception with support from Our Place Indian Cuisine and the Law Office of Rakesh Patel. Community leaders including Maura Gast with the Convention and Visitors Bureau and Shirley Dobson on behalf of State Representative Linda Harper-Brown were in attendance as were City Council members Mike Gallaway, Rose Cannaday and Rick Stopfer. Chamber representatives including several staff members as well as Board members helped introduce and connect those in attendance from the South Asian Community with city leaders. The Chamber is planning future events to help further build these relationships and to continue its efforts to both increase diversity and to empower the South Asian business community to achieve even greater success in Irving.

Some photos from the event follow:

As you may have heard, a new Fox television series Lonestar will be shot at the Studios at Las Colinas this summer! Lonestar, a spy show, starring Jon Voight (Midnight Cowboy ) and Adrianne Palicki ( Friday Night Lights), will follow in the footsteps of the short-lived ABC series The Deep End at the Studios at Las Colinas with filming to begin July 27. Show creators had given a look at Austin, before deciding that Irving was best suited for the production.

From the looks of the trailer, it seems the Studios have landed a great show!

REDISTRICTING COMMITTEE MEETS

Congressional redistricting, a job for the state Legislature next session, will be based on information gathered in the U.S. Census.On June 2, the House Committee on Redistricting met for invited testimony on recent legal, technological and demographic developments relating to the upcoming redistricting process.

Jeffrey Jordan of the Texas State Data Center testified the state's population increased 3.93 million (18.8 percent) from 2000 to 2008, of which 54 percent was natural increase and 45 percent was net migration.

Texas stands to pick up at least two congressional seats, based on its population increase.

Governor nixes participation in education funding program

Texas will not apply for the second round of federal Race to the Top education funds that could total around $700 million, Gov. Rick Perry said June 1.Race to the Top money comes through a competitive granting program that requires states to adopt national curriculum standards in order to compete for the funding.

"Abandoning state standards and adopting new nationalized standards would cost Texas taxpayers $3 billion, and would likely weaken the rigorous college- and career-ready standards and assessments already in place in our state," Perry said.

Texas' curriculum standards are set by the elected State Board of Education, as recently demonstrated, but the Legislature has the power to amend those standards.

Perry said if Texas accepted the funding "it would cost Texas taxpayers upwards of $3 billion to realign our education system to conform to the U.S. Department of Education's uniform vision for public education."

Gov. Perry and First Lady Lead Texas Economic Development and Tourism Delegation to Shanghai World Expo 2010

Gov. Rick Perry and First Lady Anita Perry are in China this week to lead a delegation of state, business and tourism leaders representing Texas during "Salute to Texas Week," June 13-19, at the Shanghai World Expo 2010. The expo gives participants the opportunity to further develop relationships in economic development and tourism, while providing a cultural exchange between China and Texas.

"Texas continues to gain national and international attention as one of the strongest economies in the U.S. and the nation's top exporting state for the eighth year in a row," Gov. Perry said. "The Shanghai World Expo 2010 gives the Lone Star State the opportunity to develop international relationships and continue to draw investment to our state."

The Texas delegation includes Comptroller Susan Combs, Texas Secretary of State Hope Andrade, State Reps. Angie Chen Button and Ken Paxton, and representatives from several cities, chambers of commerce, economic development corporations and businesses, including City of Dallas, Greater Houston Partnership, Austin Chamber of Commerce, AT&T, Texas Instruments, Port of Brownsville and Port of Corpus Christi. While in China, members of the delegation will meet with potential business investors and tourism industry professionals, attend an American Chamber of Commerce reception, and participate in events at the U.S.A. National Pavilion and Mary Kay Cosmetics China Headquarters.

Texas is a state sponsor of the U.S.A. National Pavilion and will be featured during the delegation's visit. Texas-centric activities planned for the week include Texas business and tourism seminars, performances by Austin's next generation western swing act, the Marshall Ford Swing Band, and champion trick roper Kevin Fitzpatrick, interview sessions with Johnson Space Center Astronaut Ellen Baker, and a Texas-style fashion show sponsored by North Park Center in Dallas. Texas Tourism commercials and video footage of the state will be shown on the outdoor LED screen and throughout the pavilion tour. 

The 2010 expo began on May 1 and will run through Oct. 31, 2010, and is expected to draw 70 million visitors from more than 170 nations. A projected 5 million to 6 million visitors will tour the U.S.A. National Pavilion, which will build on the EXPO's theme, "Better City, Better Life," by showcasing America as the place of opportunity, diversity, innovation, success, sustainability, health and nutrition, and technology.

China is among the fastest growing emerging markets for business and leisure tourism to the U.S., with an estimated 52,000 Chinese travelers visiting Texas in 2008. China is Texas' third largest export partner, receiving five percent, or $8.9 billion, of all Texas exports. Top export commodities include chemicals, computer and electronic equipment and machinery manufactures. A number of Irving companies do significant business with China.

The governor and first lady's trip will be paid for by TexasOne. No tax dollars will be used for the Perry's travel and accommodations on this trip. While in China the governor and first lady will also travel to Beijing to meet with the U.S. Ambassador to China, China's Minister of Foreign Affairs and business leaders.

To learn more, please visit www.usapavilion2010.com.