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-4 ; W-) I <br />W• <br />. <br />• <br />Summary <br />ng xe <br />I MR11"02 <br />.4-kSTurvejr respondents have <br />V identified05-2008' <br />investments. The industry total is much higher. <br />order to be successful in expanding the cluster, it is imperative that Texas (1) revamp <br />system (particularly the reliance on property taxes and the capital component of <br />Tan chise tax) so as not to overly penalize capital -intensive firms, and (2) work to <br />environmental and other regulatory compliance costs in an enlightened and <br />H titive manner. <br />A�,Other key initiatives include more focused training, adequate infrastructure investment, <br />n incent <br />ives ntives to offset key disadvantages. <br />,N"-',Because of the high multipliers and substantial market potential, this cluster is <br />-extremely desirable for ongoing expansion. <br />summary, the current shortage of global capacity and increasing demand for <br />,- <br />,.,-,-:Jn <br />,-petroleum products will generate future development of new facilities. Texas has a <br />long history of leadership in this cluster and enjoys substantial capacity to support <br />....,'..expanded activity. To be successful, however, the State must pursue an aggressive <br />policy agenda on.multiple fronts. <br />