Text in a geodatabase is stored as features in geodatabase annotation feature classes.
Geodatabase annotation is used:
• to store large amounts of text
• to share text between maps
• if feature-linked behavior is desired.
Each annotation feature class has a reference scale that, together with the text symbol, determines the size of the text on the map. The reference scale is not editable after an annotation feature class is created. You must be editing in ArcMap to make changes to Geodatabase annotation. The Draw toolbar tools allow edits to the text string and text appearance, but these changes are discarded when exiting the Text Properties dialog box, unless you are editing. In ArcGIS version 8.3 and later, use the Edit Annotation tool (Advanced Editing toolbar) to edit geodatabase annotation.
Refer to the articles below for more information about feature-linked annotation and about options for storing text in ArcGIS.