Central Texas Global Business Pulse
Quick Read
3 Stories that are must read
Hithium will be the first tenant at the 20 East Trinity Pointe Park. Stream Realty Partners broke ground on the first phase of the six-building, 3.4-million-square-foot development. "The new facility will accelerate Hithium's development and production of energy storage system products for the U.S. market while also boosting the Mesquite area's economic growth and development," Hithium Chairman Jeff Wu said in a statement. "We're excited to collaborate with local partners to ensure that our plans align with Mesquite's vision for growth, which is anchored in a rejuvenated manufacturing economy with diverse job opportunities and value for the community."
Construction of U.S. solar-manufacturing plants by Chinese companies is surging, putting China in position to dominate the nascent industry, as other American factories struggle to compete despite federal subsidies. Chinese companies will have at least 20 gigawatts' worth of annual solar panel production capacity on U.S. soil within the next year, enough to serve about half the U.S. market, according to a Reuters analysis of corporate statements, government documents, and interviews with eight companies and researchers.
A South Korean company that supplies Tesla Inc. is inching closer to a transformative project south of Austin that could make the company Buda's largest private-sector employer. About one month after the Austin Business Journal first revealed that Futronic USA Inc. — a subsidiary of Korea-based Futronic Co. Ltd. — was approved by the Buda City Council for $600,000 in incentives, the company on July 16 was also approved for incentives by the Hays County Commissioners Court. Economic development officials said the project, which would be a $28 million investment with 350 jobs in tow, hinges on a potential building sale.
News & Updates
International
Researchers at ANBOUND believe that these protectionist practices against China are a long-term trade phenomenon, driven by shifts in the global trade landscape. This change is universal and structural, affecting not only the relations between the U.S. or the EU with China, but also extending globally. The global trade landscape is undergoing another structural shift, which naturally introduces new orders and disciplines within the new trade system, and this is something that China should be prepared for.
USA
China's grip on the supply and manufacture of lithium-ion batteries began to loosen after automakers, hesitant to repeat the chip shortage crisis that hampered manufacturing during the pandemic, began promising to build EVs and batteries closer to home in 2021. What has followed is a wave of automakers and battery makers — foreign and domestic — pledging to produce North American–made batteries before 2030.
The combined value of distributive trade sales and manufacturers’ shipments for May, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,861.4 billion, virtually unchanged (±0.1 percent)* from April 2024, but was up 2.0 percent (±0.3 percent) from May 2023.
Texas
Last week, Gov. Greg Abbott (R-Texas) returned from his economic development trip to Taiwan, Japan, and South Korea, where he “met with company executives, business leaders, foreign dignitaries, and government officials to promote Texas’ booming economy and drive progress in industries that are critical to the future of the global economy,” according to a press release from the Office of the Texas Governor.
Austin
The University of Texas at Austin to develop the next generation of high-performing semiconductor micro systems for the Department of Defense. Under the agreement, TIE will establish a national open access R&D and prototyping fabrication facility that will enable DOD to create higher performance, lower power, light weight and compact defense systems. Such technology could apply to radar, satellite imaging, unmanned aerial vehicles or other systems. TIE is a UT Austin-supported semiconductor consortium. The new microsystem designs will be enabled by 3D Heterogeneous Integration (3DHI) — a semiconductor fabrication technology that integrates diverse materials and components into micro systems using precision assembly technologies.
Events
A Conversation with the SBA Office of Advocacy
July 25th, 2024
10AM-12:30PM
You are invited to join Region 6 Advocate Janea Jamison and attorneys from the Office of Advocacy in Austin, Texas, on July 25 at 10 am to collect comments and concerns from small businesses and stakeholders regarding proposed regulations and other potential federal actions that may impact small business.
We invite all small entities (small businesses, small governments, small not-for-profit organizations) interested in learning more about the regulatory process and compliance information to attend.
Advocacy attorneys work with federal regulators to ensure small business concerns are heard in the regulatory process. Key areas of discussion will include:
- Broadband and 5G implementation and potential funding
- USPTO Impact of Artificial Intelligence on Intellectual Property
- OSHA Emergency Responder and Volunteer Fire Fighter Proposed Rule
- DOL Independent Contractor and Overtime Rules
Truist, 7800 N Mopac Expy, Ste 100, Austin, TX 78759
Austin Small Business Expo 2024
November 14th, 2024
10AM-5PM
Austin Small Business Expo is a fantastic opportunity for small businesses to showcase their products and services, connect with potential customers, and network with like-minded entrepreneurs.
At the Expo, you’ll find a vibrant atmosphere buzzing with innovation and creativity. Discover the latest trends and technologies that can help your business thrive in today’s competitive market. Engage in insightful discussions, attend informative workshops, and gain valuable insights from industry experts.
Whether you’re a startup looking for guidance or an established business seeking growth opportunities, the Expo is the perfect platform to learn, collaborate, and expand your network. Connect with exhibitors from various industries, explore new partnerships, and build lasting relationships that can take your business to new heights.
Don’t miss out on this exciting event! Mark your calendars for November 14, 2024 and join us at the Palmer Events Center for the Austin Small Business Expo 2024. We look forward to seeing you there!
900 Barton Springs Road Austin, TX 78704
