Texas continues to buck economic trends

Jenny Vickers, Business Facilities:

Athough the nation's economy has experienced a recent slowdown, the Texas economy continues to rev up. With the 12th largest economy in the world (if it were considered a nation), Texas now leads the U.S. in job creation, gross state product, low unemployment rate, and foreign direct investment. Part of the Lone Star State's success stems from proactive government policies and incentives, low taxes, reasonable regulations, solid infrastructure, and good quality of life.

In September, Texas Governor Rick Perry and Dr. Arthur Laffer unveiled an economic study comparing two of the nation's economic heavyweights: Texas and California. According to the study, Texas has a superior economic climate with growth in income, wealth, and employment projected to strengthen relative to California and the nation as a whole. In July, CNBC announced that Texas is America's Top State for Business and Chief Executive Officer magazine recently named Texas the Best State to Do Business for the third year in a row.

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There is much more including some of the incentives Texas has to encourage companies to move her. This chart shows the top 10 states for jobs growth with Texas number one. From August of 07 to August of 08 Texas added 252,700 jobs while second place New York was adding 31,700, and that was before the Wall Street debacle in September.

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