I will cast the concept up front for those who may be new to Texas: we have a saying here that is quite applicable here, and that is: Everything is Bigger in Texas. Including now, Shipbuilding is Bigger in Texas than any other state.
I want to thank Dino, with whom I worked on this project. I want to thank the Saronic leadership. I want to thank the Saronic employees who are critical to this entire mission. I want to thank the investors of Saronic. Also, like Dino, I want to thank Cameron County leadership as well as Brownsville leadership for stepping up and doing everything they did to make this whole project possible.
Also, I want to thank future employees of Saronic. You know, one thing that Dino talked about, and that is, when this gets fully built out, there will be about 10,000 more employees at it, at about a paycheck of $75,000 per employee. So what that means mathematically is that Saronic is going to be providing annually about $750 million in paychecks to Texas employees. That's game changing for the population and the employee network of the state of Texas.
So Saronic is adding a unique chapter to the Texas economic juggernaut story. To frame that story, Texas ranks number one in the United States for the most new jobs. We have the best workforce in the United States, which is one of the reasons why Saronic chose both Texas as well as the Brownsville location. Texas ranks number one for most new economic development projects, number one for semiconductor manufacturing, number one for tech exports.
Texas is the number one state for capital investment, and because of that we built upon that and made Texas the number one state for capital markets. If you haven't heard this year, a new stock exchange has come online in the United States called the Texas Stock Exchange. Because it injected so much competition into the financial markets, both the New York Stock Exchange and the Nasdaq Stock Exchange had to create new regional headquarters in Dallas, Texas, where they are doing trading and listing in Dallas, Texas, and basically running their stock exchange operations from there to compete with the Texas Stock Exchange.
Texas has become the headquarters of headquarters, having more Fortune 500 company headquarters in Texas than any other state. And Texas is leading America in space exploration, home of SpaceX, home of Axiom, Intuitive Machines, Firefly, and the satellite operator Starlink, which is the largest satellite operator in the entire world.
So now today, we're adding to all that. To be clear, no state in America has done more than Texas over the past ten years to advance shipbuilding. Early this year, we announced the Davie Defense Shipbuilding operation, where they were building icebreakers in both Galveston and all the way down to Port Arthur.
Today, however, marks history with the announcement of the most advanced shipyard in the entire world. You know, there's a saying that we have in one of our Texas universities, and that is, ‘What starts here, changes the world.’ That idea is definitely true about Saronic. The world has witnessed just over the past month or two how Saronic changed the art and the science of warfare.
At one time, a Saronic ship can rescue soldiers stranded at sea, as well as destroy an enemy's port, all autonomously. Warfare is now changed forevermore. As an American, I'm proud of what Saronic does. I'm glad they're on our side as opposed to the other side. As governor, I'm proud that Saronic calls Texas home.
It is truly the right fit for both Saronic as well as for the state of Texas. So once again, thank you to Saronic. Thank you to everybody who's part of this critical mission for the United States. May God bless you all, and may God forever bless the great state of Texas.
Editor's Note: The above remarks were delivered by Texas Governor Greg Abbott at a press conference held at the Austin headquarters of Saronic Technologies. The press conference was held to announce the location for Saronic's Port Alpha project: the Port of Brownsville. Abbott shared the stage with Dino Mavrookas, co-founder and chief executive officer at Saronic.
