Rick Perry's Giving Away Money!

From the Texas Enterprise Fund, that is -- otherwise known as the state's "deal-closing fund" intended, in part, to bring new bidness to Texas. The governor was in Richardson earlier today to announce the state's "investing" $2.45 million in Virtual Computing Environment Company, a Cisco-created cloud-computin' company that's building a...

By Robert Wilonsky

March 15, 2011

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From the Texas Enterprise Fund, that is -- otherwise known as the state's "deal-closing fund" intended, in part, to bring new bidness to Texas. The governor was in Richardson earlier today to announce the state's "investing" $2.45 million in Virtual Computing Environment Company, a Cisco-created cloud-computin' company that's building a new corporate HQ in Richardson. Says the release from Perry's office, the $2.45 mil will lead to "at least 434 local jobs and generate an estimated $35 million in capital investment."

"Communities like Richardson continue to attract jobs and fuel our state's diverse economy thanks to investments from the Texas Enterprise Fund that help attract companies like VCE," said Perry. "Texas's low taxes, reasonable and predictable regulatory climate, fair legal system and skilled workforce have made the Lone Star State a beacon for job creation and economic growth, and strengthening these principles will help ensure our continued success."

Today's announcement comes just days after the governor said the TEF was kicking in $2.1 mil to move Golden Living's retirement-home HQ from Arkansas to Plano. Said Thursday's announcement: "This investment will create 100 high-paying jobs with an average salary of $150,000, and generate an estimated $8.4 million in capital investment."

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