Texas is a land of economic opportunity with no equal, where private property rights are respected, where people can raise families in safety, and entrepreneurs can pursue their dreams and create jobs.
10 FACTS ABOUT TEXAS’ ECONOMIC GROWTH
- Forbes has placed us #1 in Economic Climate and Growth Prospects
- Texas has been ranked as the best place to do business for the last 10 years
- Nearly 500 more people move to Texas than left on a typical day over the past several years
- Texas accounts for 9% of the total U.S. GDP
- Texas boasts 3 of the Top 5 fastest growing cities in the U.S. in Austin, Houston, and San Antonio
- According to the Bureau of Labor Statistics, Texas has an unemployment rate of 4.4%, which is significantly lower than the national rate of 5.5% and the lowest of any large state in the country
- The Texas unemployment rate has been at or below the national rate for 110 consecutive months
- Analysts predict that during the next five years Texas will record an annual job growth rate of 2.7%
- Since 2000, Texas has created 2.1 million jobs, more than double any other State. 30% of all the jobs created in our nation
- Texas has been the nation’s #1 exporter of goods and services for 12 consecutive years
5 FACTS THAT PUT THE SIZE OF TEXAS’ ECONOMIC GROWTH IN PERSPECTIVE
- If the Lone Star State were its own country, it would have the 10th highest GDP in the world
- Texas is home to 52 Fortune 500 companies, which is the 2nd most in the country
- Home to the most wind farms in the U.S., Texas’ wind turbines could power all of the homes in Utah and West Virginia
- In just 3 years, Texas’ population increased by an amount equal to the combined populations of Vermont and Wyoming
- Personal income in Texas is greater than that of the entire New England, Plains, and Rocky Mountain regions