How Does The Texas Economy Stack Up?

FREQUENTLY ASKED QUESTIONS (FAQS) ABOUT THE TEXAS ECONOMY

1. Which state in the nation is best for businesses?

The Lone Star State has been ranked the #1 state in the U.S. for business every year since 2005. According to Chief Executive Magazine, CEOs across the country agree that Texas’ low taxes, manageable regulation, workforce quality, and living environment, foster an environment for businesses to succeed.

Since President Obama took office, businesses in liberal states such as California have moved to Texas to escape burdensome regulations and over-taxation. Over the past 8 years, California has lost over 1,500 businesses, with over 220 moving to Texas for our pro-growth, pro-business policies. This has resulted in over 40,000 jobs gained and more than $6.4 billion in investments.

2. How many jobs has Texas created in recent history?

Texas added over 1.8 million jobs from 2004-2014, the most in the country. That’s 2.5 times more jobs than California during that period. Texas’ employment growth of 20.7% in that 10-year span was the country’s 2^nd highest, behind only North Dakota.

3. Has the addition of new jobs led to increased wages in Texas?

During the period from 2004-2014, Texans’ average annual wages experienced a growth of 36.4%, which was the 7^th highest in the U.S. and above the national growth of 29.3%.

4. Which state is the best for making a living?

In 2015, Texas was ranked the #1 state to make a living. According to MoneyRates.com, which ranks states based on average salaries, cost of living, employment rates and workplace conditions, Texas’ income potential tops any other state.

5. Are a lot of people moving to Texas?

During the period between 2000 and 2014, Texas’ population has grown by 6.1 million people. While we ranked #4 in the nation in percentage population change, Texas gained more resident than any other state, with the runner-up being 1 million people behind.

6. Are more people coming to or leaving Texas?

Our state saw a net +138,057 more people move to Texas versus leave in 2013. That number ranks #1 in the country by more than 30,000 people.

7. What is the median age in Texas?

The Census Bureau’s Population Estimates Program estimates that Texas boasts the 3^rd youngest median age in the country at 34.2 years.

At 34 years old, the average Texan is in the prime wage-earning stage of their careers as well as family-raising years, which is exactly what the Texas economy needs to continue being the envy of the nation.