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According to a recent report from the Houston Business Journal, state lawmakers are reviewing how economic incentives are being disbursed. One of their areas of concern is the Emerging Technology Fund. In spite of more than $200 million being awarded to a total of 143 companies since the fund's inception in 2005, legislators on the committee that oversees Texas public funds given for incentives worry that the selection process has become political, investments in the fund are declining, and that the funds lack oversight.

The committee is proposing that other incentive programs be consolidated with the Emerging Technology Fund in order to provide additional dollars to small and medium-sized businesses. The funding from the Economic Development Bank should also be used to create small business and economic incubator funding, the report noted. In addition, it has also been suggested that an independent oversight committee be formed for the Enterprise Fund, which is only available to larger, expanding companies in order to aid the current committee in keeping their focus only on funding opportunities for smaller companies.

Public money isn't the only thing that makes up the Emerging Technology Fund. According to the Governor's office, more than $2.2 billion from non-state resources has also been allocated to the fund, which also provides money for university research projects.

A lot of planning goes into not only attracting new businesses to Texas but in starting a new business here. Getting the funding is only a part of that plan. Another part is finding an affordable office space in which to locate your start-up. That's where Houston brokerage firm LandPark Commercial can help. We have years of experience in the area and we know we can find a place where your new tech business can thrive. For more information, contact us.