AGP Executive Report

SpaceX IPO Watch: SpaceX is set to debut on Nasdaq and Nasdaq Texas under ticker “SPCX” after pricing its record $75B offering at $135/share, valuing the company around $1.77T and putting Elon Musk on the cusp of “trillionaire” status. Wildlife & Land Fight: Conservation groups and a Native tribe sued to block a proposed SpaceX land exchange near a Texas wildlife refuge, arguing the swap would break up protected habitat. Livestock Biosecurity: A second New World screwworm case was confirmed in South Texas; Canada temporarily halted imports of certain Texas livestock, while Texas officials push back and expand emergency response. FCC Fee Crackdown: The FCC warned a Texas FM station (KXTM 94.3) it could revoke its license unless unpaid regulatory fees are paid or explained within 60 days. Water & Energy Policy: Texas regulators moved toward rules for using treated fracking wastewater on farmland, as supporters cite drought relief and critics warn about contamination risks. Tech & Consumer Rules: Texas’ age-verification app-store law took a step forward after a court stay was lifted, raising new surveillance and First Amendment concerns. Local Business & Jobs: Texas National Bank highlighted its “Bank On INT” paid internship program as an investment in workforce development in the Rio Grande Valley.

Livestock & Trade: Canada is temporarily blocking certain livestock imports from Texas after a second New World screwworm detection in South Texas, tightening entry rules for cattle, horses and other warm-blooded animals that were in the state within 21 days. State Policy & Food Safety: Texas AG Ken Paxton opened a glyphosate residue investigation, issuing Civil Investigative Demands to Bayer and PepsiCo over alleged consumer-protection violations. Energy & Big Tech: RWE and Meta expanded their Texas solar partnership with a long-term PPA for the 298-MW Rabbit’s Foot project in Bowie County, targeting clean power for Meta’s AI data centers. Markets & IPO: SpaceX priced its record IPO at $135/share, valuing the company near $1.77T and setting trading to begin Friday under ticker “SPCX.” Local Business & Infrastructure: Texarkana issued a boil-water notice for specific neighborhoods after water pressure drops. Regulation: The FCC warned a Texas broadcaster that it could lose its license over unpaid regulatory fees.

Data Center Push Meets Backlash: Gov. Greg Abbott urged Texas regulators to rein in AI-driven data center growth, proposing rules that force new sites to add power generation, pay their own grid and interconnection costs, adopt closed-loop water systems, report electricity and water use, and lose sales-tax incentives. Energy & Markets: Oracle shares slid after it flagged up to $95B in fiscal 2027 capex and plans to raise nearly $40B next year, stoking worries about AI infrastructure costs. Livestock Health Shock: A second New World screwworm case was confirmed in South Texas, triggering Canada to temporarily restrict Texas livestock imports and prompting new cross-state travel and inspection warnings. Food & Consumer Watch: Texas AG Ken Paxton opened an investigation into Celsius/Alani Nu energy drink marketing after a teen’s death, focusing on alleged teen-targeted promotion and labeling. Local Business & Jobs: Meta announced a paid skilled-trades bootcamp with job guarantees, including pilots in Houston, aimed at building AI data-center infrastructure. Texas Politics: Texas Republicans head into their Houston convention seeking unity after a contentious Senate runoff.

Screwworm Watch: A second New World screwworm case was confirmed in South Texas, triggering expanded state disaster response and tighter animal movement rules; Canada also temporarily halted certain Texas livestock imports while officials work to contain the parasite. Food & Consumer Safety: Texas AG Ken Paxton opened investigations into heavy metals in protein powders and glyphosate residue in foods, using civil investigative demands and citing lab findings that raise health concerns. Energy & Tech Policy: Texas Gov. Greg Abbott pushed regulators to rein in data center costs, while the backlash keeps spreading as other states debate tax breaks and oversight. College Sports & Courts: Texas Tech’s Brendan Sorsby eligibility fight continues after a judge allowed him to play, sparking NCAA and CFP integrity debate. Local Business & Growth: Casey’s outlined plans to add at least 120 stores in fiscal 2027 after record earnings, while Victoria secured workforce training funding to expand electrical, plumbing and HVAC-R pipelines. SpaceX Land Fight: Environmental groups sued to block a wildlife refuge land swap that would expand SpaceX’s Texas footprint.

Livestock & Trade: Texas confirmed a second New World screwworm case in South Texas, triggering expanded state and federal containment efforts and a Canada import halt for Texas-origin cattle, horses and other livestock entering within 21 days. Energy & Markets: Oil jumped after U.S. strikes near the Strait of Hormuz, reviving supply-disruption fears and adding pressure to inflation expectations as stocks mixed. Healthcare Tech: DeepHealth launched Reporting Pro, an AI workflow aimed at speeding radiology report generation as imaging demand strains staffing. Housing Policy: Economists and housing advocates renewed the push for zoning reform, arguing more supply is the fastest path to lower rents and prices. Sports Business & Courts: A Texas judge ruling keeps QB Brendan Sorsby eligible after sports-betting issues, intensifying debate over college football integrity and scheduling. AG & Consumer Watch: Texas AG Ken Paxton opened an investigation into glyphosate residue in foods, issuing demands to Bayer and PepsiCo. AI & Infrastructure: TelioLabs named former Oracle exec Piyush Sarwal as its Chief Technology & AI Officer to scale enterprise automation.

Livestock Health Crisis: A second New World screwworm case has been confirmed in South Texas, prompting Canada to temporarily halt imports of certain Texas cattle, horses and other livestock while officials contain the parasite. State Response: Texas Gov. Greg Abbott has expanded emergency actions around affected counties as USDA reports more detections across animals. Food & Consumer Safety: Texas AG Ken Paxton opened an investigation into glyphosate residue in food products, sending Civil Investigative Demands to Bayer and PepsiCo. Energy & Grid Innovation: GM is rolling out software that lets some EV owners sell power back to the grid, with commercial rollout expected to start in California and Texas. Local Business & Jobs: PRN Funding expanded home-care invoice factoring into Ohio, Minnesota, Florida and Missouri, aiming to ease cash-flow pressure for providers. Healthcare Access: Jefferson, Texas is moving ahead with a new “micro hospital” plan after decades without a local operating facility. Markets/Macro: Economists expect May inflation to top 4% for the first time in three years, a key read ahead of Wednesday’s CPI release.

Livestock Health Crisis: A second New World screwworm case was confirmed in South Texas, and Canada temporarily halted imports of certain Texas livestock (cattle, horses and others) tied to the state within the past 21 days while officials contain the outbreak. Beef & Markets: The parasite’s return is already rattling cattle futures and keeping pressure on beef prices, with analysts warning it could extend the high-price timeline even if grocery impacts stay gradual at first. Policy & Response: Texas officials have issued disaster declarations for affected counties as federal and state agencies ramp up containment. Corporate & Tech in Texas: Meta and Zelestra signed a long-term power purchase agreement for a 180MWdc Texas solar project, expanding a broader clean-energy push tied to data center demand. Space & Defense: KBR won a $95 million digital engineering contract supporting the U.S. Space Force. Business Growth: Paradise Estimating expanded in Texas to add roofing estimating and lumber takeoff services.

New World screwworm: USDA confirmed new Texas detections, pushing the state total to five in less than a week, with cases tied to a calf in La Salle County, a dog in Andrews County, and a goat in Gillespie County—prompting expanded quarantines, surveillance, and disaster-level coordination. Federal response: USDA and Texas leaders are leaning on sterile insect technology and faster detection/reporting, naming Texas A&M leader John Bellinger as a senior adviser for preparedness. Data centers & power: CyrusOne broke ground on a 380MW data center campus in Freestone County, while ERCOT warned summer demand could hit record levels as AI data centers accelerate load growth. Retail real estate execution: GS Property LLC says it’s expanding its project-management and remodeling operations across Florida and Texas as demand for organized renovation grows. AG scrutiny: Texas AG Ken Paxton launched an investigation into glyphosate residue in food, issuing civil investigative demands to Bayer and PepsiCo. Tech IPO watch: SpaceX’s IPO is set to price around $135 per share, targeting a $75B raise and a $1.77T valuation.

Texas Grid & Data Centers: ERCOT is warning that the data-center boom isn’t just a power-demand story—some proposed hyperscale clusters and crypto sites failed voltage ride-through tests, meaning they could drop offline during grid disturbances. Energy Markets: Oil jumped after Israel-Iran strikes, with crude rallying as investors weigh renewed Middle East risk and inflation pressure. Livestock Shock: Canada is restricting Texas livestock imports after a second New World screwworm case in Zavala County, while USDA and Texas officials expand quarantine and sterile-fly efforts to protect the cattle supply chain. Banking Footprint: Fifth Third will permanently close 81 branches after its Comerica acquisition, underscoring how customers keep shifting to digital banking. Space & Business: SpaceX’s massive IPO is set to value the company around $1.77T, but the move also highlights a California tax hit for employees who didn’t relocate. Local Economy: A new Texas-inspired barbecue spot, Big Boned Barbecue, opened in Pensacola—another sign of Texas food brands spreading beyond state lines.

World Cup Business Pulse (Houston): Local restaurants, bars, hotels and retailers are ramping up staffing, supplies and hours ahead of Houston’s first match June 14, with leaders expecting a multi-week visitor surge across game-day and nightlife corridors. Energy & Markets: The U.S. plans to add 40 million barrels to the Strategic Petroleum Reserve after the Iran conflict ends, while U.S. oil and gas rig counts rose for a seventh straight week. Texas Livestock Shock: USDA confirmed a second New World screwworm case in Zavala County as Texas expands its disaster response, raising alarm for cattle operations and beef prices; Canada also moved to restrict Texas livestock imports. Tech/AI Infrastructure: Google agreed to pay SpaceX about $920 million a month for computing power through mid-2029, and Texas continues to court data-center growth amid grid and water concerns. Local Economy/Cost Pressure: Restaurant operators warn that higher beef costs are forcing closures, while gas prices show continued volatility for Texas drivers. Public Safety: A crash in Lewisville is expected to leave some residents without power for 8–10 hours after power lines were brought down.

World Cup & Houston Business: Downtown Houston is gearing up for the 2026 FIFA World Cup with Fan Fest and major staffing and supply plans, as hotel bookings rise and organizers project big visitor numbers and economic impact. AI Power & Data Centers: Texas and other states are wrestling with the AI buildout’s real-world costs—electricity demand, water use, and the political pushback that’s starting to slow or reshape tax incentives. Livestock Shock in South Texas: USDA confirmed New World screwworm in a Zavala County calf, prompting quarantines and emergency animal-import rules as Canada moves to restrict Texas livestock. Health Insurance Pressure: Cigna is exiting Florida’s Obamacare marketplace in 2027, raising fears of a broader “death spiral” that could ripple into hospital and coverage costs. Texas Politics & Money: In the Texas Senate race, Ken Paxton and James Talarico keep trading attacks while national donors and party leaders line up behind their campaigns. Local Economy & Growth: Texas Agridrone Services expands drone spraying across Central Texas, while a separate push for government-contract training highlights how small businesses are chasing new revenue streams.

Livestock & Trade: Canada has temporarily banned Texas livestock imports after New World screwworm was detected in South Texas, with USDA confirming a second case in a Zavala County calf—prompting emergency response zones and raising beef-supply anxiety. Texas Economy & Jobs: New data shows U.S. employers posted the fewest mass layoff notices in May while adding 172,000 jobs; unemployment held at 4.3%, signaling a still-stable labor market even as some companies keep cutting. Data Centers & Water: Google is rolling out a new Texas water fund as it expands data centers across the state, even as residents and officials worry about water demand. Energy & Agriculture Risk: Texas growers face a potential hit from last winter’s low “chill hours,” threatening peach and berry yields. Business & Labor Practices: Texas Roadhouse is drawing attention for a strict $500 gift limit in its employee conflict-of-interest rules. Sports & Local Tourism: College Station is preparing for World Cup weekend crowds, with “Visit College Station” staffing major events to capture visitor spending. Markets & Credit: DoubleLine and Oaktree are positioning for a possible AI credit downturn by buying debt tied to AI infrastructure.

Livestock Emergency: A second New World screwworm case was confirmed in Texas, this time in a Zavala County calf, triggering tighter quarantine rules and rapid sterile-fly releases as officials expand containment around the first detection near La Pryor. Cross-Border Trade: Canada temporarily suspended entry of Texas livestock after the new detections, adding pressure on ranchers already bracing for supply and price swings. State Response: Gov. Greg Abbott signed an updated statewide disaster declaration and ramped up resources, including a sterile fly production push tied to the eradication plan. Energy & Markets: Crude prices slid as fears of a US-Iran conflict eased, with Brent and WTI both down on the day. Immigration Policy: A US bill introduced by Texas Rep. Chip Roy would overhaul the H-1B program, including ending its path to permanent residency and scrapping OPT. Tech & Infrastructure: Google and Intersect announced the Meitner Energy Center in the Texas Panhandle, pairing new power generation with a major data center buildout. Consumer Watch: Americans kept spending despite higher prices, but economists warn the cushion may not last if energy costs stay elevated.

Energy & Markets: Oil prices slid Thursday after a ceasefire between Israel and Lebanon and renewed signs of U.S.-Iran diplomacy, with Brent down nearly 3% to just under $95 and WTI down more than 3% to about $93, though crude remains far above pre-conflict levels. Texas Water & Environment: Aqualia used World Environment Day to push climate action and water-sustainability efforts in Texas communities, tying conservation to drought and extreme weather pressures. AG Scrutiny on Consumer Products: Texas AG Ken Paxton launched an investigation into Celsius Holdings, alleging the company marketed Alani Nu to teens despite 200 mg caffeine per 12-oz can; Celsius denies wrongdoing and says it doesn’t market to under-18s. Livestock Health & Supply Chain: USDA confirmed New World screwworm in a Texas calf, prompting quarantine and new animal import restrictions, including Canada’s temporary livestock limits from affected areas; Texas leaders warned a sterile-fly factory won’t be ready for more than a year. Beef Prices & Local Impact: Texas pitmasters are raising alarms as beef shortages and rising prices squeeze restaurants and consumers. Data Centers & Power: Google and Intersect Power broke ground on the Meitner Energy Center in the Texas Panhandle, pairing a data center with 1GW+ of wind/solar/storage to align power supply with demand. Workforce Housing for Tech Buildout: Armadillo Workforce Housing signed a multi-year deal to provide lodging, meals and recreation for data center construction workers at its Pecos, Texas site. Business & Policy Support: Texas counties can apply for new state grants for law enforcement and ambulance services, with application details tied to population thresholds.

Livestock & Food Prices: USDA confirmed the first U.S. New World screwworm case in decades—a 3-week-old calf in La Pryor, Texas—triggering a quarantine and raising fears of higher beef prices and major economic hit to Texas ranching. Energy Workforce & Grid: Texas expanded electrician reciprocity with Ohio to ease hiring for master electricians/contractors, while URECC completed its ETEC-NTEC merger to cut costs and strengthen power supply resilience. Clean Energy Buildout: Google and Intersect Power broke ground on the Meitner Energy Center in the Texas Panhandle, pairing 1+ GW of wind/solar/storage with an air-cooled data center. Tech & Business Growth: ClickySoft announced national expansion of AI automation and custom software services beyond Texas hubs. Regulation Watch: Texas AG Ken Paxton opened an investigation into Celsius/Alani Nu over claims its youth-focused marketing may mislead teens about caffeine risks. Capital Markets: SpaceX’s IPO buzz kept building as the company told banks it won’t move its $135-a-share price.

Data Centers & Power: Google and Intersect broke ground on the Meitner Energy Center in Texas Panhandle (Gray/Roberts counties), pairing 1 GW+ of wind/solar/storage with on-site gas for reliability—another sign AI buildout is reshaping local grids. AI Backlash & Semiconductors: SpaceX’s Terafab chip project in Grimes County won tax incentives despite resident pushback over scale and environmental concerns. Livestock Health: USDA confirmed New World screwworm in a Texas calf (Zavala County), triggering quarantines and pet-owner warnings as ranchers watch for market impacts. Energy & Costs: Gas prices stayed volatile; one Texas County hit $3.79 regular and diesel bottomed at $4.79 in the week ending May 30. Housing: Home sellers pulled listings at the fastest pace since the pandemic, with April delistings rising as mortgage rates and Iran-linked energy spikes cooled demand. Business & Growth: Huntington National Bank will rename the Cadence Bank Center in Belton as the Huntington Bank Expo. Retail Expansion: White Castle broke ground on its first Texas location in The Colony, targeting late-fall 2026 opening. Local Business Support: TxDOT’s Pharr district will host a July 20 small-business contracting event for highway work.