In her keynote address, Ms. Jenna Saucedo-Herrera, President and CEO of Greater: SATX, described how San Antonio’s economic success is built on a foundation of vision, investment, and collaboration. Texas, as the eighth largest economy in the world—surpassing Russia, Italy, and Canada—has become a tremendous location for business, attracting numerous corporate headquarters. With 16 R1 universities, Texas leads the nation in top-tier research institutions, surpassing California’s 11. State lawmakers continue to fuel this growth through initiatives like the Texas CHIPS Act, which has led to the creation of the Texas Semiconductor Consortium. The significant investments from companies like Samsung demonstrate Texas’ commitment to strengthening domestic semiconductor production and reducing reliance on foreign supply chains.
“Texas is momentum. San Antonio is the fastest growing city, in the fastest growing state in the country. And there’s a reason for that.”
Ms. Jenna Saucedo-Herrera
President and CEO
Greater: SATX
Beyond semiconductors, Texas is poised to become a leader in the space economy. The University of Texas at San Antonio is playing a major role in advancing space research and development. At the end of 2024, launching its Center for Space Technology and Operations Research, which is focused on space missions between Earth and the moon. Besides public and academic research, Texas has also become the home of the booming private sector space industry.
Although Texas is making significant traction in these crucial industries, to sustain these economic developments, the state must engage in large-scale infrastructure investments. The global economy’s rapid evolution demands massive financial commitments, and Texas is one of the few states prepared to keep pace. Strategic investment in infrastructure will be crucial in maintaining and attracting industries of the future. These infrastructure developments must take advantadge of San Antonio’s strategic location in central Texas and its proximity to Mexico. The region’s seamless connectivity network fuels its economy, and by aligning infrastructure efforts, the corridor from Austin through San Antonio to northern Mexico is becoming one of the most dynamic innovation ecosystems in the world.
A key factor in Texas’ success is its focus on people and place. San Antonio has become a net producer of talent, contributing significantly to Texas’ leadership in educating first-generation college students. Additionally, the state recognizes the importance of expanding its energy grid beyond traditional sources. Renewable energy, including wind, solar, and nuclear power, is essential to meeting the state’s growing demands. CPS Energy has played a crucial role in this transition, with the average power requirement in San Antonio’s project pipeline increasing from 8 megawatts to 40 megawatts over the past three years. As AI, quantum computing, data centers, and battery manufacturing drive further demand, energy consumption in Texas could increase by 50 percent by 2030. Ensuring capacity, timing, and transmission build-out is a priority for the region, as doing so is vital for sustaining its economic momentum.
Water resilience is another critical component of San Antonio’s economic strategy. Unlike power capacity, water infrastructure cannot be expanded at will, making efficient management essential. The San Antonio Water System has become a national model, supplying water to over 200,000 households while maintaining city ownership to prevent profit-driven resource exploitation. This structure also generates revenues for the city, which CPS Energy reinvests back into the communities it serves.
San Antonio’s military history is another advantage for the region, as it is deeply intertwined with its economic ecosystem. Joint Base San Antonio is the region’s largest employer, and it fosters research and innovation in both the public and private sectors. As modern warfare increasingly relies on biological and cyber technologies, San Antonio’s intelligence and research capabilities are preparing the United States for future conflicts.
Wrapping up her keynote, Ms. Saucedo-Herrera focused on how — with access to the North American market — San Antonio serves as a gateway for global commerce, making it a launchpad for investment. The city and state are well-positioned to seize emerging opportunities and solidify their role in shaping the future. Forums like the Competitiveness Conversations play a vital role in fostering collaboration, ensuring that San Antonio remains at the forefront of economic growth and innovation.
