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Texas Looks To Attract Facebook To Austin

Gov. Rick Perry said today that the state is looking to invest $1.4M, through the Texas Enterprise Fund (TEF), to pursuade social networking firm Facebook to create a new office in Austin for its sales and operations. Perry said that the funding is conditional on a local incentive agreement with the City of Austin. Gov. Perry said in a statement that the deal will mean the creation of 200 jobs, and investments of $3.1M in capital in Texas. If approved, the move of Facebook into Austin would be the social networking site's first major expansion outside of Silicon Valley.