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Governor Abbott speaks at regional economic development summit

This was the first-ever Texas Economic Development summit in Midland.

MIDLAND, Texas — Governor Greg Abbott made a stop in Tall City Monday for the Texas Economic Development Corporation Summit. The governor, along with the three other panelists, spoke about how the Lone Star State is bursting with economic development.

According to Texas Economic Corporation, the state is home to 50 Fortune 500 companies, and 2.6 billion small businesses.

"We’re the most powerful economic state in the United States of America," Abbott said. 

Fittingly enough, the summit was held on Texas Independence Day. 

The panelist touched on how vital the Basin is to the rest of the world.

"We also know that not just United States but the entire globe needs the products that you’re producing,” Abbott said. "We embrace you, we want to promote you and we want to provide you with the resources you need to succeed."

For the Texas Economic Development Corporation, there is one goal in mind for these kind of summits. 

"Our goal here is to stoke and start a conversation that will lead to issues that we need to address moving forward," said Robert Allen, President and CEO of  Texas Economic Development Corporation. "The state of Texas is not just about being number one, it’s about staying number one.”

The governor closed out the summit by making it clear he wants Texas, with its low taxes and little government, to continue being a magnet for businesses.

“The mantra in Texas is different than what you see in other states," Abbott said. "We want you to succeed, we need you to succeed, because when you succeed, the state of Texas succeeds."

This was the first summit of its kind in Midland but the development corporation director, John Trischetti, tells NewsWest 9 that the summit is the first of many to come. 

For more information on the Texas Economic Development Corporation click here.

For more information on the Midland Development Corporation click here.  

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