The numbers about the Texas economic are very good:
"Texas created 19.4 percent of total jobs created in the United States from September 2010 to September 2011.
Texas gained 248,700 nonfarm jobs during the period, an annual growth rate of 2.4 percent compared with 1.1 percent for the United States.
The state's private sector added 281,400 jobs, an annual growth rate of 3.3 percent compared with 1.7 percent for the nation's private sector." (REC)
Why is Texas growing? Why has Texas avoided the tough recession?
I think that we can cite the following reasons:
1) No state income tax. This is a huge advantage and the primary reason that so many professional athletes live in our state.
2) Reasonable regulation. You can do business in Texas without the threat of "ambulance chasers" getting into your pocket.
3) Low housing costs.
4) Trade with Mexico.
5) The Houston port and DFW International Airport.
I think that the country could learn a lesson or two from Texas. The first lesson is that we have a pro-business legislature. We understand how jobs are created in Texas. They are created by profitable employers expanding their businesses.
P.S. We spoke with John Beddow, Publisher of The Houston Business Journal. Click here for the show:
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