As the Texas Legislature prepares to convene in Austin later this month, one of the issues that’s garnered strong opposition from the business community is the so-called bathroom bill. Keep Texas Open for Business now boasts nearly 80 companies across Texas who have stepped up to oppose discriminatory legislation like the so-called bathroom bill.
One of the newest members of the coalition is TPG, a firm headquartered in Fort Worth, the organization said in a news release.
“As a firm with roots and our operational headquarters in Texas, TPG stands with Keep Texas Open for Business in opposition to discriminatory legislation. We believe that an equal, diverse, and inclusive workforce is fundamental to a strong business, and we oppose legislation that jeopardizes Texas businesses’ ability to provide a safe and supportive environment for all employees,” Erika White, a spokesperson for TPG, was quoted as saying in the news release.
TPG, founded in 1992, has more than $73 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore.
“Our ability to attract, recruit and retain top talent, encourage new business relocations, expansions and investment, and maintain our economic competitiveness are threatened by proposed discriminatory legislation,” Keep Texas Open for Business said in the news release.
A study commissioned by the Texas Association of Business and conducted by Austin-based AngelouEconomics showed that Texas risks losses of up to $5.6 billion statewide through 2026 if the Texas Legislature approves discriminatory legislation.
The study also found the negative impact of discriminatory legislation to be far-reaching, not limited to Texas’ metro areas. By disrupting conference and events bookings in major metro areas, rural Texas communities are poised to lose between $26.1 million and $52.5 million annually.
“The Texas Association of Business supports and advances sound policies that strengthen the economic climate of our state. When businesses succeed, Texas communities and families succeed. With estimated economic losses of up to $5.6 billion, Texas businesses, our communities and families are at risk, and that’s why we remain steadfastly opposed to discriminatory legislation,” Chris Wallace, president of TAB, said in the news release.
For more information:
Economic impact study: tinyurl.com/TAB-impact
TPG: tpg.com
Keep Texas Open for Business: keeptxopen.org