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No new money for Perry's business incentive programs

Gov. Rick Perry likes bragging that Texas is open for business, but the state budget on the table suggests the trough of taxpayer dollars for private companies may be drying up. Budget proposals lawmakers laid out this week include no new money for Perry's signature business incentive programs, the Emerging Technology Fund and the Texas Enterprise Fund. Lawmakers also froze out the tech and enterprise funds in the 2011 session, but did let the programs carry over unused money. Perry's tech fund also has come under new scrutiny. It has given more than $194 million since 2005 to private startups with the promise of creating jobs and bringing groundbreaking technologies to the market, but bankruptcies in the fund's portfolio last year raised questions about whether the state was getting a return on its investments.

 

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