The swirling force of Texas politics

Texas Fund to Give Millions to Tech Company

Wednesday, Mar 16, 2011  |  Updated 10:00 AM CDT
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Texas Fund to Give Millions to Tech Company

flickr/vanessanunes

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Gov. Rick Perry says $2.45 million from the Texas Enterprise Fund will be used to help an information technology company build its corporate headquarters in the Dallas suburb of Richardson.

Perry's office estimated Tuesday that the grant to Virtual Computing Environment Company will generate 434 jobs and an estimated $35 million in capital investment.

Virtual Computing was formed by Cisco and other firms to provide information technology services to other organizations.

The enterprise fund was created by the Legislature in 2003 and has given more than $430 million to businesses operating in Texas.

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