This is the Royal Empress Tree. The formal name is Paulownia Tomintosa. I bought my first tree in 2012. Just before Spring of 2013, I took the choppers and cut it to the ground. That summer it grew to about 12 feet tall. 4 years later it is growing tall and strong.
In the fall, the tree sets buds for the following spring. These buds burst out into a beautiful purple flower with a wonderful aroma. The flowers produce pods that make thousands of seeds. The pods open up and the seeds blow in the wind to spread the species.
In some areas of the country, this tree is considered invasive. But in Texas, the summers are too hot and dry for the tiny seeds to germinate and grow. Even if they did germinate, the summers are still too hot for the tiny saplings to survive.
In states to the north, these seeds can land and grow almost anywhere. Once the roots are established, they are almost impossible to control. Well this is what I am lead to believe from reading online about them.