In 1989, the 71st Texas Legislature established the Texas Department of Commerce to promote economic development in Texas. The Legislature also passed legislation providing for the creation of the TxEDC to support the public purposes of the Department. The TxEDC was created as a tax-exempt Texas nonprofit corporation in 1991 and is recognized by the Internal Revenue Service as a charitable organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended.
In 1997, the 75th Legislature renamed the Texas Department of Commerce the “Texas Department of Economic Development.” In 2003, the 78th Legislature merged the Department into the Governor’s Office to create the Economic Development & Tourism division.
In September 2003, with the support of Governor Rick Perry, the TxEDC launched the TexasOne™ Program to market and promote Texas as a premier business location. The following year, Governor Perry established the Governor’s Economic Development Partnership Council, comprised of the TxEDC Board of Directors and top-tier members of TexasOne™.
In April 2013, the TxEDC board voted to further develop the TxEDC as a stand-alone, 501(c)(3) nonprofit organization, dedicated to economic development, business recruitment, and job creation in the State of Texas. The TexasOne™ Program will continue to coordinate its efforts with the Office of the Governor and work closely with member organizations and economic developers to align economic development efforts throughout Texas. The organization continues to be funded solely by member organizations and other donors, and no state tax dollars are used to fund its activities.