In good times, you keep the momentum going.

That’s the philosophy behind Texas’ approach to luring new business, and in practical terms, that means ponying up the big bucks for corporate incentives.

In the legislative session that just ended, lawmakers in Austin approved half a billion dollars for economic development over the next two years. They also reauthorized — and improved — a program known as Chapter 312, which allows local governments to offer their own tax breaks to attract employers and investment.

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