Cruz answered questions from audience members and discussed the economic future of the cities at the Hilton College Station.

“My number one priority in the Senate is jobs and we are focused like a laser on jobs, jobs and jobs,” Cruz said during the luncheon. “Jobs are the top priority for all across Texas. … We want more jobs, we want higher wages and we want better opportunities for our kids. One of the things I understand is jobs don’t come from some bureaucrat sitting in his office in Washington D.C. Jobs come from men and women here.”

Cruz spoke on a variety of topics, including the semiconductor plant expected to be built on the RELLIS campus in Bryan and generate up to 1,800 jobs.

“You look at the needs of technology, advanced semiconductors are fundamental. Right now, we have a vulnerability because very few advanced semiconductors are made in the United States,” Cruz said. “If, God forbid, China ever invaded Taiwan, the United States would be utterly be dependent on China for advanced semiconductors.”

Semiconductor production shortages overseas impacted the auto, phone and satellite industries during the COVID-19 pandemic, Cruz said, making local production plants a priority.

“We need to be acting to bring that production back. We’re seeing billions of new investments in semiconductor [fabrication plants] in Texas and around the country. Samsung was putting $18 million in an incredible new [fabrication plant] in Taylor, Texas, and it’s breathtaking in scope,” he said.

One of the largest issues these new semiconductor plants are facing, Cruz said, is constant delays that prevent construction of the facility for years.

“These environmental reviews that are required delay these projects by as much as five to seven years and we don’t have five to seven years to wait to get that semiconductor manufacturing capability,” he said. “I teamed up with Mark Kelly, Democrat from Arizona, and we drafted legislation to streamline the permitting for new [fabrication plants].”

In 2022, the CHIPS and Science Act were signed into law, promoting domestic semiconductor manufacturing and providing $52 billion in subsidies. Cruz said he hopes to continue working on developing more semiconductor facilities in Texas.

“There are very few things that can provide more jobs and more productivity than moving substantial amounts of spectrum to the private sector, which can create trillions of dollars of additional GDP and fuel AI. America needs to be the leader globally in AI,” he said. “I’m proud to stand and fight alongside each of you for Texas.”

Susan Davenport, president and CEO of the Brazos Valley Economic Development Corporation (BVEDC), gave an economic update specific to the Brazos Valley, including economic indicators for the city.

“I want to start off today knowing how fortunate the chamber is to have such distinguished guests like Senator Cruz,” she said. “I think this will be a quick and accurate picture of our local economy today so any of the insights [Cruz] brings today about our national landscape, we can put that all together and it’ll help us understand our goals and opportunities for this upcoming year.”

One element Davenport said she wanted to highlight for her presentation was the local unemployment rate compared to statewide trends.

“Our regional unemployment rate rose 3.1% to 3.2% in June, but Texas stayed the same, 4%, in June. Nationally, the unemployment rate was 4.1% in June, but it rose to 4.3% in July, and that was one of the highest rates we’ve seen nationally since Oct. 21,” she said. “We’re the third-lowest unemployment rate in the state.”

Davenport also gave updates on the median hourly earnings for citizens in the Brazos Valley.

“Prior to the pandemic, earnings were about $26.90 per hour. We saw a peak at about $31.60 per hour around July of 2020 and the earnings remained consistently above the February 2020 number for the next two years,” she said. “From 2022 to our June number of this year, we saw a 16% decline from roughly $29 an hour to roughly $25 an hour.”

Causes for this decrease are attributed to prices increasing through inflation and many jobs being lost during COVID, such as in the hospitality industry.

The BVEDC also gave an offer letter to its fifth permanent full-time employee, which Davenport said will help them continue to grow in the future and work on developing the local economy.

“I think we’re making some good progress. We hope you’ll stay abreast of all the important opportunities and the chamber, the outstanding public and educational officials that are coming to the table and working with us every day,” she said.