The Texas economy is one of the most robust in the world. Wildly profitable companies and ingenious entrepreneurs call this state home, and what happens here influences businesses around the nation. Here’s a slice of the profits, losses, big deals, and backroom decisions happening across Texas this week.
Med About U
The University of Texas has approved plans to establish a new medical school in Austin, which could create as many as 15,000 jobs and generate $2 billion for the local economy. Austin ABC affiliate KVUE reports the university’s Board of Regents unanimously voted to contribute $25 million annually and another $5 million to recruit faculty and staff for the next eight years.
According to the Austin American-Statesman, UT will move forward with the med school “if a continuing stream of $35 million a year in community funds is raised to help support it.” Austin is one of the only cities of its size without a medical school.
The Bottom Line: Seton University Medical Center Brackenridge has also pledged $250 million to build a teaching hospital affiliated with the school, which could help “bring more oncologist and neurosurgeons to Austin,” KVUE reports.
ETP and Sunoco: The Deal is Done-oco
Dallas-based natural gas pipeline company Energy Transfer Partners announced this week that it