|
FOR IMMEDIATE
RELEASE
Contact: Nancy
Mcdonald (512) 320-4151
Commercial
Real Estate Industry Holds Legislative Strategy Summit
(AUSTIN-February 19,
2010) –
The Real Estate Councils of Texas, a coalition of the largest urban
commercial real estate organizations, met in Austin yesterday to identify
and prioritize issues for next year’s 82nd Texas Legislature.
The leadership from the six organizations huddled with strategists and
legislative analysts to review the interim work of key committees in both
the House and Senate.
“While we do not know
exactly who will be serving in the Texas Legislature until after the
elections, we do know that our issues will not change. During these
critical economic times, it is important to stay focused on the fact that
the commercial real estate industry must be protected from regulatory
measures that could restrain the industry from rebounding or the Texas
economy from rebuilding,” said Martha Mangum, executive director of the
Real Estate Council of San Antonio and co-chair of the coalition.
Texas’ regulatory
climate has allowed the real estate industry to adequately respond to
consumer demand keeping real estate values and housing costs well below
the national average. The Real Estate Councils of Texas continue to
support policies that allow Texas to remain one of the most affordable
states to live in and do business.
According to a 2008
report prepared by the consulting firm
TXP Inc., designed to gauge the economic impact of the industry, the
real estate development sector was responsible for $270.6 billion in total
economic activity as well as $3.8 billion in state tax revenue.
“The impact of the
development industry on the state’s economy is huge. The numbers tell the
story,” said Jon Hockenyos, president of TXP, Inc. “Companies in the
development sectors have collectively added tens of thousands of positions
since early 2000, in the process paying millions of dollars in wages. The
construction segment of the real estate development industry provides an
opportunity for those without higher education to earn above average
wages, which is increasingly rare in the modern economy”.
Other legislative
issues sure to be of importance to the group are transportation,
corrections to the margin tax, county land-use regulations, and job
creation.
“Texas is one of the
leading states in job creation, but we can’t afford to rest on our
success. In this economy, it's vital that the state recruit new jobs,
expand job creation for our existing employers, and ensure a skilled
workforce through education and job training,”
said Janice Cartwright, executive director
of the Real Estate Council of Austin and co-chair of the coalition.
The Real Estate
Councils of Texas, organized in September 2008, is comprised of real
estate development associations from Austin, Dallas, Fort Worth, Houston,
and San Antonio. Recognizing a need for statewide representation, the
associations work together to monitor and advocate on legislative issues
that are important to the industry. In addition, the Real Estate Councils
of Texas serves as an industry resource to provide necessary educational
materials to the public and the Texas Legislature
For more information
and contact information for the member organizations, visit the following
websites.
The Real
Estate Council of San Antonio (RECSA)
www.recsanantonio.com |
