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Kyle, Texas | Economic Development

Five Reasons To Give Thanks For Texas

 My husband and I recently moved from Washington D.C. to Dallas. In addition to warmer temperatures, shorter commutes, and better Tex-Mex, we’ve enjoyed the “Texas Miracle” first-hand.

The Texas economy is arguably the strongest in America with unmatched job creation, a dynamic business climate and historic energy boom.

That’s why, this Thanksgiving, I’m thankful for Texas. Here are five reasons why you should be too:

1) Job creation

Without Texas, fewer Americans are employed today than when the recession started.

Since 2007, the Texas economy has added more than 1.3 million jobs, according to economist Mark Perry. This is in sharp contrast to the other 49 states, which lost an aggregate 1.2 million jobs during this time period.

This chart was put together 

 

2) Higher wages

Texas leads the nation in job creation at every wage quartile, according to a recent study by the Dallas Federal Reserve.

While the rest of the nation lost lower-middle wage jobs from 2000 to 2013, Texas added low, middle, and high wage jobs during this time period, with 55% of net new jobs in the top two wage quartiles.

3) Business climate

CEOs ranked Texas ranked the No. 1 place to do business for the tenth year in a row.

The 2014 Chief Executive survey took into account each state’s tax and regulatory environment, workforce quality, and living environment. For example, the state-local tax burden in Texas is 7.9% compared to the national average of nearly 10%.

4) Growing cities


From 2010 to 2013, 1.3 million people moved to Texas. Five of the nation’s top ten fastest growing cities are in the Lone Star state: Houston, San Antonio, Austin, Dallas, and Fort Worth.More people are moving to Texas than any other state.

5) Energy boom

As you travel to see family this holiday season enjoying very low gas prices, remember: Texas is responsible for nearly 40% of the nation’s oil production.

In the last three years, oil production in Texas has doubled, according to Mark Perry. If Texas were its own country, it would be the 8th biggest oil-producing nation in the world.

They say everything’s bigger in Texas. In terms of economic success, this is certainly true.

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