(Orange, Texas)


February 4, 2013

Perry's tech fund shows $6M in potential losses

AUSTIN — A new report shows that Gov. Rick Perry's pet fund for high-tech startups in Texas is leaving room for $6 million in potential losses due to troubled investments.

That allowance for bad debt is a drain on the value of the Texas Emerging Technology Fund. According to an annual report from Perry's office, the tech fund is now worth $2.4 million more than what the state has given to more than 130 private companies.

Perry's office says the report included the potential losses to give lawmakers a clearer picture of the fund's condition.

The tech fund has handed out more than $184 million since 2005. Perry calls the fund an innovative sparkplug for the Texas economy, but critics have targeted the program over performance and politics.


Text Only
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide