Tuesday, April 02 2019
In 2018, Texas continued to demonstrate the results of an ideal climate for economic success. Announcements from businesses choosing the Lone Star State were regularly in the news—with a $1 billion investment from Apple along with new commitments from Cheniere, Cognizant, JSW Steel and McKesson, to name a few. The state also experienced noteworthy success when compared to the rest of the country. For example, as of December 2018, the Lone Star State added 391,800 jobs over the year—the most of any state—as total nonfarm employment reached a new high of 12.74 million, marking 104 consecutive months of annual growth.
As further testament to its prosperity, Texas was named America’s No. 1 Growth State for the third year in a row, according to U-Haul. Data from the moving equipment and storage rental company indicates that arrivals of one-way trucks were up five percent from the previous year. Additional data from the U.S. Census Bureau shows Texas gained a total of 379,128 new residents from July 1, 2017 to July 1, 2018—the largest numeric gain in the nation—indicating people are flocking to the state to take advantage of impressive job opportunities and a high quality of life.
Friday, March 23 2018
Set at the center of the U.S. economy, Texas is a force that continues to welcome investment as second nature. In November 2017, Texas set a new record for the lowest unemployment rate in the state’s history and December 2017 marked 92 consecutive months of job growth. Last year, more than 600 companies chose to expand in the state—and this growth is expected to continue in 2018.
It’s clear that Texas holds a natural appeal for companies looking to grow their North American presence, but with the competition from other states rising, the Lone Star state has taken proactive measures to invest in its business economy and foster collaboration that promotes top-level innovation in the state.
Tuesday, March 28 2017
As the 10th largest economy in the world, if Texas were a nation, the Lone Star State boasts a booming economy and countless accolades for its business friendliness. In 2016, Texas welcomed more than 800 foreign and domestic investment projects across a diverse range of industries—from advanced technology and manufacturing to biotechnology and life sciences. As a result of the state’s largest investments alone, Texas gained over 5,000 jobs and a half a billion dollars in capital investment.
Major Recent Texas Investments
Wednesday, March 16 2016
Q and A with Governor Greg Abbott
Businesses grow better in Texas. That’s the finding of a recent study showing Texas' middle-market companies outpacing the nation in revenue and employment growth in 2015. And, because CEOs and owners in Texas are more likely to invest capital in their companies when compared to their counterparts nationwide, that trend is projected to continue.
Q: What does Texas offer that attracts businesses of all sizes?
A: The nation’s top CEOs continually rank Texas as the best state for business. Texas also ranks first for business facility projects of $1 million or more, and for both foreign and domestic investments.
Friday, March 20 2015
Texas is the case study on the enduring power – and folly – of stereotype.
Ask someone to describe Texas, and their words invariably will paint a rustic portrait of cowboys on horseback, tumbleweeds and oil derricks. But visit Texas today, and just about the only place you’ll find that picture is on the wall of a history museum.
From its roots in agriculture and oil, over the past thirty years the Texas economy has transformed into one of the most diverse and powerful in America.
Agriculture and oil, staples of centuries past, no longer monopolize the economic landscape. In fact, today the oil and gas industry employs a mere 2.7 percent of Texas workers. Severance taxes fund less than 6 percent of the state’s budget, down from 18 percent in the early 1980s.