ABJ: Big businesses are already steering clear of Texas now that a key incentive is gone

When it comes to the largest of deals – we're talking in the billions, in terms of capital investment – there's one tool companies say is more important than the others.

AUSTIN (Austin Business Journal) -- The way that some in economic development spheres look at it, working to lure companies to come to Central Texas is a lot like handiwork. You strap on your tool belt or grab your toolbox and use whatever you need that's in it to complete the job.

When it comes to the largest of deals – we're talking in the billions, in terms of capital investment – there's one tool they say is more important than the others. The hammers that helps them nail a deal, if you will, are property tax incentives.

It's what helped bring Tesla Inc.'s gigafactory to eastern Travis County and Samsung Electronics Co. Ltd.'s next-generation chipmaking facility to Taylor. It's also what made Lockhart a finalist for Micron Technology Inc.'s proposed fabrication hub, before they ultimately were outbid by New York.