In good times, you keep the momentum going.

That’s the philosophy behind Texas’ approach to luring new business, and in practical terms, that means ponying up the big bucks for corporate incentives.

In the legislative session that just ended, lawmakers in Austin approved half a billion dollars for economic development over the next two years. They also reauthorized — and improved — a program known as Chapter 312, which allows local governments to offer their own tax breaks to attract employers and investment.

These are timely developments, in part because two major prospects are kicking the tires in Dallas right now. Ride-hailing giant Uber and retailer Lowe's Cos. are mulling expansions that would bring thousands of high-paying jobs here.

It’s a near-lock that local and state incentives would be part of those deals, and all sides can rest assured: The cookie jar is full again in Texas.

At a time when New York, Florida and Washington, D.C., are pulling back on so-called corporate welfare, Texas lawmakers are staying the course.

They replenished the largest, most high-profile programs, approving $150 million for the Texas Enterprise Fund, $50 million to entice filmmakers to Texas and $40 million to recruit star researchers to state universities. The Lege also approved $110 million, courtesy of hotel occupancy taxes, to promote tourism and attract more domestic and global visitors.

Gov. Greg Abbott had requested full funding for each program in his budget proposal for 2020-21, and he got everything he asked for.

“We cannot be complacent,” the governor’s budget said about supporting economic development and tourism.

Two years ago, Abbott faced some pushback on incentives. A House budget proposal would have stripped funding for the enterprise fund, and he had to work hard to get more money approved. This time around, there was almost no public resistance.

“People see the value in these programs,” said John Wittman, a spokesman for Abbott’s office. “The return on investment is phenomenal.”

Abbott’s budget plan reeled off some highlights: From January 2015 to January 2019, the fund helped attract 39 company projects that include hiring 26,000 workers and investing $16.6 billion. In exchange, the state agreed to hand out $122 million in cash awards.

Beyond the ROI, lawmakers have another reason to get on board the incentives train, said Jeff Moseley, CEO of the Texas Association of Business.

“With the population that Texas is adding, there’s a fundamental awareness that we have to grow the tax base — and that means fighting for these jobs,” Moseley said.

To replenish the enterprise fund to $150 million, Texas is rolling over $76 million in unspent balances and kicking in $74 million from general revenue. It’s the eighth consecutive session that the Lege has re-upped the program since it launched 16 years ago with $285 million from the state’s rainy day fund.

The advantage of maintaining a healthy balance?

"We may not spend all the money, but if someone does come knocking, we're ready," said Chris Wallace, CEO of the North Texas Commission.

Spending is not as aggressive as in the early days, he said, in part because oversight is much tougher now. But through good times and bad — including oil busts and the Great Recession — lawmakers haven’t wavered on their commitment.

Remaining steadfast is almost as important as the money.

"Most of these projects take years to plan and implement, especially in manufacturing," said Priscilla Camacho, who leads public policy and advocacy at the Dallas Regional Chamber. "From that perspective, it's great to have a stable, reliable resource to close deals. And it needs to be large enough to handle really big projects."

Apple’s expansion just north of Austin is slated to get $25 million from the fund. Toyota’s North American headquarters in Plano got $40 million.

If Amazon had brought HQ2 to Texas — both Dallas and Austin were finalists in that competition — state incentives would have totaled hundreds of millions of dollars. That bounty would have been paid off over many years as the employee count grew.

Nathan Jensen, a government professor at the University of Texas at Austin, has criticized the state's incentive programs. His primary objection, shared by many economists, is that most companies would come here anyway, regardless of the tax breaks.

Public money also tends to go to the largest, richest, most connected players — and that’s ripe territory for political manipulation.

"It's great PR for politicians to say they did something to bring all these jobs here," said Jensen, who co-wrote a book last year titled Incentives to Pander.

The book’s subtitle: “How politicians use corporate welfare for political gain.”

Jensen applauded some changes in the recent session. The Chapter 312 update now requires local governments to hold hearings on their incentive deals and to extend the time for public input to 30 days.

Unfortunately, the enterprise fund didn’t get a similar upgrade. Only three state officials — the governor, lieutenant governor and House speaker — decide whether a project qualifies.

How does that affect campaign contributions, Jensen asked. And what about renegotiating deals when companies don’t hit their numbers, a practice that occurred in the past?

Such criticism has always surrounded public incentives for private companies. And the Amazon deal has provoked backlash in many locales, said Greg LeRoy of Good Jobs First, a critic of many tax breaks.

But there's no wobbling in the Lone Star State.

“Texas has always been the Wild West of economic development,” LeRoy said. “It’s outlandishly optimistic and aggressive, and these deals are enormously rewarding politically. With the oil and gas boom, there’s no pressure” to change.

That's how we roll.