Friday, Governor Greg Abbott announced the formation of a ‘statewide strike force’ that will be tasked with overseeing the re-opening of the Texas economy. IBC Bank Chairman and CEO Dennis E. Nixon was appointed to the strike force, along with Michael Dell, Kendra Scott, former Dallas Federal Reserve Bank President Richard Fisher, and other civic and business leaders. The goal of the strike force will be to advise Governor Abbott regarding a phased re-opening of Texas businesses and a strategy to reignite the state economy and facilitate economic recovery.
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IBC Bank Chairman and CEO Dennis E. Nixon (Photo: Business Wire)
"I am grateful to Governor Abbott for appointing me to this important effort," said Nixon. "As a community bank, IBC Bank is committed to creating economic opportunity across Texas. In order to be effective for our customers, we must be engaged in the issues that affect them."
Prior to the pandemic, unemployment rates were at all-time lows and workers were scarce. Now, the private and public sectors must all work together to get Texans back to work. "Getting the economy moving again will be more like merging onto a busy highway than turning on a light switch," explained Nixon. "Businesses will need time to open for business and the hiring process is sure to be affected. Because supply chains have been disrupted, processes and procedures have changed, and our daily routines have changed, we need to prepare a plan now to ensure our ramp-up is smooth and successful. I appreciate the governor’s leadership and vision on this issue. He has taken the first major step toward economic recovery with his announcement."
Internationally, Nixon is recognized for playing an instrumental role in the passage of the North American Free Trade Agreement and the USMCA. He has also helped create and lead advocacy organizations like the Association of South Texas Communities, Texas Border Coalition, Border Trade Alliance and the Alliance for Security and Trade. Nixon is also co-chair, with his Mexican counterpart Moisés R. Kalach Balas, of the Trade Policy Working group of the U.S.-Mexico CEO Dialogue. The group strengthens economic and commercial ties between the two countries by convening private sector leaders from the United States and Mexico. It also provides joint recommendations for their respective governments on priorities in the bilateral trade and investment relationship.
"The reality is, we have a major task ahead of us. As we ramp back up, our social norms will be different and social distancing will continue for a period of time. Our ability to gather at social and sporting events, galas, graduations and more, which are at the core of our way of life, are not likely to return for a while. That is one of the biggest challenges that we will continue to fight, but we must all work together to get Texans back to work and our economy moving," he said.
About IBC Bank
IBC Bank and Commerce Bank are divisions of International Bancshares Corporation (NASDAQ: IBOC), a $12.1 billion multi-bank financial holding company headquartered in Laredo, Texas, with 188 facilities and 284 ATMs serving 88 communities in Texas and Oklahoma. IBC Bank’s slogan "We Do More" reflects the bank’s dedication to the growth and success of the customers and the communities it has been serving since 1966. MEMBER FDIC / INTERNATIONAL BANCSHARES CORPORATION. Follow our Facebook and Instagram page, @IBCBankWeDoMore. More information is available at ibc.com.