Texas Governor Greg Abbott stopped by El Paso on Thursday afternoon to meet with business leaders and discuss the region’s and state’s economic success.
After a closed-door roundtable discussion with local business leaders, the Republican governor told the media that he would discuss issues beyond oil and gas in finance, healthcare, agriculture, semiconductors, and manufacturing.
As for El Paso, a new 160,000-square-foot Schneider Electric manufacturing plant, part of a $100 million regional investment, and a new $150-million, 2-million-square-foot warehouse and distribution center for Marshall’s clothing stores. mentioned about Both will bring about 1,500 new jobs to the El Paso area.
“The bottom line is that[these]jobs help the El Paso area,” Abbott said.
Along with the economy, Abbott briefly spoke about his run against Democratic challenger Beto O’Rourke from El Paso in the Nov. 8 election.
The governor also spoke about border checks he ordered at El Paso and other Texas ports of entry this past April. He said the average five-hour wait for commercial trucks at the port is minimal compared to the Biden administration’s 18-month delay in securing the border.
“What we’re trying to do is address those challenges,” Abbott said, revealing that the state’s Department of Public Safety’s goal is to inspect vehicles. As a result, many unlicensed drivers and unsafe vehicles did not enter the country, which could have saved lives, he said. However, he did not provide an example of how the surgery saved lives.
In an interview with El Paso Matters, Tom Fullerton, a professor of economics and finance at the University of Texas at El Paso, said in an interview with El Paso Matters that the decision to close the border in April 2022 to look for drugs and immigrants will affect El Paso’s multiple He said it caused trouble for the company. Other companies doing business in El Paso.
“That policy reversal has ensured that a key impediment to regional performance has been removed,” said Fullerton. “Many businesses in El Paso were dissatisfied with the governor’s actions because they hurt the local economy.”
Fullerton said overall economic conditions in El Paso remain good, although fuel and housing prices remain high. However, as interest rates continue to rise, an economic slowdown could occur, pushing the Borderplex region into recession, he added.
The Dallas Federal Reserve Bank reported in August 2022 that El Paso continued its economic gains in July. Among other indicators, the unemployment rate remains low by historical comparison, at 4.7% in June 2022 and July, still above pre-pandemic levels. These percentages are above the state (4%) and US (3.5%) levels.