Texas governor's startup fund is not all it seems
AUSTIN, Texas (AP) — Texas Gov. Rick Perry has distributed $205 million in taxpayer money to scores of technology startups using a pet program designed to bring high-paying jobs and innovation to the nation's second most-populous state.
But a closer look at the Texas Emerging Technology Fund, one of Perry's signature initiatives in his 14 years as governor, reveals that some of the businesses that received money are not all they seem. One actually operates in California. Some have stagnated trying to find more capital. Others have listed out-of-state employees and short-term hires as being among the jobs they created.
A few have forfeited their right to do business in Texas by not filing tax reports.
An Associated Press review of the program found that some of the same companies credited with creating a share of the program's 1,600 new jobs have actually stalled and in some cases blamed Perry's office for their struggles.
More at http://www.chron.com/news/texas/article/Texas-governor-s-startup-fund-is-not-all-it-seems-5643053.php .
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