Texas Venture Forum Regional Innovation Panel

Overview

Panel discussion featuring chamber leaders from Texas, Arizona, and Memphis discussing how their regions are building innovation ecosystems, attracting investment, and competing for economic development.

Key Participants

Laura Carr (Moderator)

• Co-Founder & Chief Business Officer, U.S. LEGE
• Former U.S. Chamber alum
• Company mission: "Make government more efficient with technology"

Ted Townsend - Memphis

• President & CEO, Greater Memphis Chamber
• Oversees tri-state region (Tennessee, Arkansas, Mississippi)
• Leading transformation from logistics hub to tech center

Danny Seiden - Arizona

• President & CEO, Arizona Chamber of Commerce & Industry
• Glenn Hamer's successor (4th year)
• Former Deputy Chief of Staff to Governor Ducey

Glenn Hamer - Texas

• Current Texas Chamber leader
• Former Arizona Chamber CEO (14 years)
• Known for extensive policy testimony

Major Investment Wins Discussed

Memphis (Ted Townsend)

• XAI: $12 billion - World's largest supercomputer
  • Largest investment in Tennessee history
  • Second largest taxpayer in state within one year
• Google: $10 billion in West Memphis, Arkansas
  • 3X Arkansas's previous largest project
  • Announced just last week
• FedEx: 30,000 employees, largest employer/taxpayer in Tennessee

Arizona (Danny Seiden)

• TSMC: $165 billion - Largest foreign direct investment in U.S. history
  • Making most advanced semiconductors outside Taiwan
  • Customers include NVIDIA and AMD
• LG: $12 billion battery manufacturing investment
• Multiple billion-dollar projects now routine

Texas (Glenn Hamer)

• Emphasized economic diversity (no sector over 10%)
• #1 in oil, natural gas, solar, and photovoltaics
• More financial jobs than New York City
• Home of integrated circuit invention

Key Themes & Insights

"Policy Matters"

• Central theme repeated by all panelists
• Glenn: "Policy matters. Tennessee, Arizona, and Texas, all rocking and rolling in innovation and job creation"
• Danny uses it as hashtag and core principle

State Competition & Collaboration

• Healthy rivalry between states, especially Texas vs Arizona
• Grid reliability debate: Arizona claims #1 ranking, no natural disasters
• Danny's joke: "When Glenn was in Arizona, you'd get him to cut a ribbon for $250 million. That's like a Tuesday right now"
• Recognition that states must collaborate for U.S. competitiveness

Innovation Ecosystem Building

Arizona's Approach:

• Reverse-engineered talent pipeline with ASU
• 35,000+ engineers in training (largest in country)
• Drive 48: EV training facility (95% of Lucid employees)
• Advanced Lab 48: Shared semiconductor research facilities
• "Wild West" regulatory approach

Memphis's Evolution:

• Leveraging logistics infrastructure for medical device manufacturing
• Strategic pivot to tech and advanced manufacturing
• "Holistic approach" including public safety ($175M secured)
• Building on St. Jude Children's Research Hospital presence

Texas's Strategy:

• Tech Meets Business policy center
• Partnership with Texas Venture Alliance
• Focus on creating ecosystems, not just individual wins
• Emphasis on economic diversity

AI & Technology Adoption

• Glenn: Grok 3 is "my new best friend"
• Ted: "It's in my employment contract that I have to use Grok 3 every day"
• Arizona successfully killing prohibitive AI regulations
• Focus on preventing government from "messing it up"

Notable Quotes

Ted Townsend:

• "We want Memphis to be the safest city in America, if not the southeast"
• "We're excited now that it's suddenly for us to just do the lexicon of great global tech companies"
• "We have more [Fortune 500 headquarters] than Nashville. I know that's shocking to most people"

Danny Seiden:

• "Capital goes where it's most wanted and stays where it's most welcome"
• "We're not bringing out the scissors for anything short of a billion now"
• "No offense to Texas" (regarding grid reliability)
• "You're welcome to innovate here. We're going to wait to regulate until it's absolutely necessary"

Glenn Hamer:

• "Within the world there's two systems, the U.S. and China. And the U.S. has to win"
• "Dollar values double or triple where it helps create an ecosystem"
• "Big, big upgrade" (joking about Danny replacing him)

Strategic Takeaways

1. Regional Specialization: Each region building on existing strengths

   • Memphis: Logistics → Tech
   • Arizona: Manufacturing → Semiconductors
   • Texas: Energy → Diversified innovation

2. Talent Pipeline Critical: Universities and community colleges key

   • ASU's 35,000 engineers
   • Drive 48 and Advanced Lab 48 programs
   • Reverse-engineering education for industry needs

3. Policy as Competitive Advantage

   • Light-touch regulation on emerging tech
   • Tax and regulatory environment matters
   • State-level competition driving innovation

4. Mega-Projects as Catalysts

   • TSMC bringing entire semiconductor ecosystem
   • XAI establishing Memphis as tech player
   • Projects creating multiplier effects

5. Public Safety & Quality of Life

   • Memphis addressing crime to support growth
   • Infrastructure investments critical
   • Holistic approach beyond just business climate

Future Outlook

• Continued competition between states for major investments
• AI policy development crucial for maintaining competitive edge
• Need for U.S. states to collaborate while competing
• Focus on creating sustainable innovation ecosystems, not just landing individual projects