Thursday, May 12, 2011
Texas Cities Dominate Forbes’ Rankings of Best Cities for Jobs
Forbes Magazine recently released its annual list of Best Cities for Jobs, with Texas cities topping the lists for best big, mid-size and small cities for jobs.
Forbes Magazine writes:
"...No place displayed more vibrancy than Texas. The Lone Star State dominated the three size categories, with the No. 1 mid-sized city, El Paso (No. 3 overall, up 22 places from last year) and No. 1 large metropolitan area, Austin (No. 6 overall), joining Killeen-Temple-Fort Hood (the No. 1 small city) atop their respective lists.
"Texas also produced three other of the top 10 smallest regions, including energy-dominated No. 4 Midland, which gained 41 places overall, and No. 10 Odessa, whose economy jumped a remarkable 57 places. It also added two other mid-size cities to its belt: No. 2 Corpus Christi and No. 4 McAllen-Edinburgh-Mission...."
Article via Forbes »
Wednesday, May 04, 2011
CEO Magazine Ranks Texas Best State for Business for Seventh Consecutive Year
Texas has been ranked the top state for job growth and business development for the seventh year in a row in a survey of CEOs by Chief Executive Magazine. The survey asked 550 CEOs to consider a wide range of criteria, from taxation and regulation to workforce quality and living environment, in the magazine's annual ranking of the best states for business.
"Texas' top ranking as the best state for business for seven years running by CEOs across the nation is a testament to our successful model for job creation and economic prosperity," Gov. Perry said. "I am proud of our state's accomplishments and remain committed to upholding principles like low taxes, restrained spending, reasonable regulations and a fair legal system, which have made Texas the best state in the nation to live, work, raise a family and start a business."
In the study, Texas received strong marks in all areas important for business creation, while highlighting the state's low tax burden and robust job creation compared to other states. Additionally, the study credited the state's predictable policies and regulations, positive attitude toward business and Texans' strong work ethic with helping the state hold the top ranking since 2005.
Article via CEO Magazine »
Tuesday, March 01, 2011
Texas Wins Site Selection Magazine’s 2010 Governor’s Cup
Texas has won Site Selection Magazine's Governor's Cup for 2010, which is awarded annually to the state with the most new and expanded corporate facilities announced over the year.
"The Lone Star State continues to lead the national economic recovery, adding more jobs than any other state in 2010 and attracting companies from around the world thanks to our low taxes, reasonable and predictable regulatory climate, fair legal system, competitive workforce and incentives like the Texas Enterprise Fund and Texas Emerging Technology Fund," Gov. Perry said. "Winning the Governor's Cup further confirms Texas is the best state in the nation to live, work and raise a family, and I'm committed to strengthening the economic environment that allows employers to thrive and create jobs for Texans."
Texas claimed 2010's top spot with 424 projects, a 50-project increase over its second-place finish last year. Ohio placed second this year with 376 projects, followed by Louisiana (347), Pennsylvania (337) and Georgia (251).
Article via Site Selection »
Wednesday, February 16, 2011
Texas Ranked Top Exporting State for 9th Consecutive Year
Texas has been ranked the top exporting state in 2010 for the ninth year in a row, according to data released by the U.S. Department of Commerce, signaling Texas' ongoing role in leading the nation toward economic recovery.
"Texas' ranking as the nation's top exporter for nine years running is a testament to our strong economy and the importance of upholding low taxes, reasonable regulations, a fair legal system and an equipped workforce," Gov. Perry said. "Although Texas has not been immune to the global recession, our commitment to these priorities has helped make us the best place to live, work and raise a family, and businesses looking to escape over-taxation and over-regulation know they can come to Texas for a better chance at success."
Texas continues to outperform the rest of the nation in job creation, maintaining an unemployment rate a point lower than the national average, creating more jobs in 2010 than any other state, and achieving a job growth rate in 2010 nearly double that of any other top ten state.
Article via Census.gov » and
via WiserTrade.org »
Tuesday, January 04, 2011
Texas Continues to be a Top State for Families who are Relocating
Everything's bigger in Texas – including its appeal as a destination for residents in 2010, according to Allied Van Lines' 43rd Annual Magnet States Report released today.
For the sixth year in a row, Texas eclipsed every other state and took the lead as the No. 1 magnet state in 2010 based on Allied's report, which tracks U.S. migration patterns.
"Today there are more Fortune 500 companies located in Texas than any other state in the union," said Bill Dircks, president of Berger Transfer & Storage, Inc. "With our branch locations in Austin, Dallas, Houston and San Antonio, we've serviced a large number of relocations into the state this past year. A healthy business climate, coupled with family-friendly cities, makes Texas a very attractive place to work and live."
Article via Brookings »
Wednesday, November 10, 2010
For Sheer Economic Promise, No Place Beats Texas
Newsweek ranked four Texas cities in its list of 10 cities best situated for economic recovery, describing Texas as "the No. 1 destination for job-seeking Americans, thanks to a hearty energy sector and a strong spirit of entrepreneurism."
Newsweek placed Austin, Dallas, San Antonio and Houston in its top 10, described as cities that have better withstood the economic slowdown and seem poised to emerge even stronger than before.
"For sheer economic promise, no place beats Texas," Newsweek's Joel Kotkin wrote. "Texas offers pro-business policies and relatively low taxes, and the physical infrastructure in the cities is generally as good or better than in many East and West coast metropolitan areas."
Article via Newsweek »
Friday, October 29, 2010
Wall Street Journal Says Texas is “Where the New Jobs Are”
The Wall Street Journal called Texas the place where new jobs are being created in a Review & Outlook piece Tuesday, describing Texas as a "mecca for high tech, venture capital, aeronautics, health care and even industrial manufacturing like the building of cars and trucks."
Noting Texas' status as the nation's top home for newly-created jobs, the Journal compared Texas with other large states, including California, New York and New Jersey, which all continued to post job losses in September.
"This continues a longer term trend," the Journal wrote. "Over the last year, as the economy was beginning to grow again, the Lone Star State has led the nation with the addition of nearly 153,000 jobs, while California surrendered 43,700, New Jersey lost 42,300 and New York dropped 14,600."
Article via Wall Street Journal (for subscribers) »
Friday, October 22, 2010
Standard & Poor’s Touts Texas Economy As New Figures Show Unemployment Rate Drop
Standard & Poor's issued a report Thursday affirming Texas' status as a national economic leader and touting the policies that made Texas one of the last states to fall into the national recession and the first leading the way out. S&P's report came out a day before national employment data was released showing Texas' unemployment rate had fallen to its lowest level in 2010, 1.5 points lower than the national average.
"Texas has seen a demographic and economic transformation that, in our opinion, has placed the Lone Star State among the few that can claim to have escaped, relatively unscathed, what many believe has been the worst economic recession since the Great Depression," S&P analyst Horacio Aldrete-Sanchez wrote. "We believe that Texas' policy choices following periods of economic distress have helped set the stage for its current strong credit profile.
On Friday, it was announced Texas' unemployment rate had dropped to 8.1 percent, down from 8.3 in August and well below the national average of 9.6 percent.
Article via bondbuyer.com (for subscribers) »
Article via S&P »
Tuesday, October 19, 2010
National Review Touts "Texas Model" as Key To Economic Strength
National Review Editor Rich Lowry credited Texas' economic policies with helping employers in the Lone Star State create more than half of the net jobs created in America over a recent 12 month period.
"Texas already looms large in its own imagination. Its elevated self-image didn't need this: More than half of the net new jobs in the U.S. during the past 12 months were created in the Lone Star State," Lowry wrote. "What does Austin know that Washington doesn't? At its simplest: Don't overtax and -spend, keep regulations to a minimum, avoid letting unions and trial lawyers run riot, and display an enormous neon sign saying, ‘Open for Business."'
"Texas is a model of governmental restraint. In 2008, state and local expenditures were 25.5 percent of GDP in California, 22.8 in the U.S., and 17.3 in Texas. Back in 1987, levels of spending were roughly similar in these places. The recessions of 1991 and 2001 spiked spending everywhere, but each time Texas fought to bring it down to pre-recession levels."
Article via National Review »
Monday, October 18, 2010
Texas Dominated Milken Institute List of Top Cities for Jobs
Texas cities make up an unprecedented 11 of the top 25 metropolitan areas ranked in the Milken Institute's Best-Performing Cities Index, which evaluates the metro areas best able to create and sustain jobs. This is the second year in a row Texas has dominated the list.
Killeen-Temple-Fort Hood took the top spot in this year's index, with Austin-Round Rock (2) and McAllen-Edinburg-Mission (4) rounding out the top five. Other Texas cities in the top 25 are El Paso (9), Houston-Sugar Land-Baytown (10), Brownsville-Harlingen (13), San Antonio (14), Amarillo (16), Dallas-Plano-Irving (17), Fort Worth-Arlington (23) and Lubbock (24).
The index factors in a metro area's long and short-term employment and salary growth, as well as four measurements of technology output growth, which the institute views as key to creating good jobs and driving regional economies.
Article via Milken Institute »
Report via Milken Institute »
Wednesday, September 29, 2010
Analyst Meredith Whitney Ranks Texas Best in Nation in Economic Health
Meredith Whitney, a noted analyst who had accurately predicted the national banking crisis, listed Texas as the national leader in state financial health in a report issued about the perilous condition of most state governments. Of the 15 largest states, only Texas and Virginia earned overall positive rankings.
"The best state is actually Texas, by a mile," Whitney said during an interview on CNBC. "They've been a very conservative state [...] a small government state. Low taxes, their pension funds are fully funded. Housing is not an issue. They've got great population trends. Great employment."
Video Interview via CNBC »
Article via Fortune Magazine »
Monday, September 27, 2010
Texas Universities are Doing Something Right
In The Austin American Statesman, university system chancellors Kent Hance, Francisco G. Cigarroa and Mike McKinney discuss the benefits and accomplishments of the Texas Emerging Technology Fund in Texas Universities.
Throughout the academic year, our respective schools will battle each other fiercely on the field of play, but we're also engaged in another competition that has even bigger implications for Texas. As the national economy continues to falter, the battle for research dollars gets tougher by the day. Fortunately, the state has a mechanism that gives us a distinct advantage over other states and, ultimately, helps our universities create jobs for Texans.
Known as the Texas Emerging Technology Fund, it represents a surprisingly innovative approach for government, in which tax dollars are invested to attract outside funding for research. The impetus behind ETF-funded research in Texas is to take ideas born in university laboratories and move them along the development pipeline into production and the marketplace.
Article via Austin American-Statesman »
Monday, September 13, 2010
Who Will Lead The Recovery? Start With Texas
"...when it comes to predicting what place will lead the country to a solid economic recovery, forecasters are all on the same page: Nobody's messing with Texas."
Although the economy has slowed in recent months, the prospects for a robust recovery are still looking up for the Lone Star State. Texas gained 14,000 jobs in June even as employment fell in 27 other states, according to the Bureau of Labor Statistics. That brought Texas's total for the first half of 2010 to 178,700 -- more than twice that of any other state.
The reasons for this success aren't unique. A key factor has been the state's energy production. "If you look at the first half of 2008, the U.S. [economy] had started to decline, but Texas was still growing," said Keith Phillips, a senior economist at the Federal Reserve Bank of Dallas. Oil and natural-gas prices were very strong, he explained, and so "we entered the recession late."
Article via National Journal »
Tuesday, September 07, 2010
Austin Among Least Stressed in U.S.
Good health and relatively-low unemployment has placed Austin the fourth least stressed city in the U.S., a Portfolio.com study reported Tuesday.
The national news site for small- and mid-sized business executives analyzed the nation's 50 largest metropolitan areas and found Detroit residents the most tense. The publication used various indicators to calculate the ranking, including local unemployment, personal financial data, environmental factors, health risks, crime rates and living standards.
Detroit topped the list largely due to steep unemployment, about 14.3 percent of its population, combined with a high 9.9 percent living in poverty. The Michigan metro also reported a high murder and robbery rate and low levels of sunshine.
Article via Austin Business Journal »
Wednesday, July 14, 2010
4 Reasons Why Texas Beats California in a Recession
Back in 1965, The Mamas & the Papas reached the top of the charts with "California Dreamin'," a song pining for a return to the warm safety of their home state. But these days they'd be better off dreaming about Texas.
The reason is that Texas powered through the global fiscal crisis, while The Golden State's economy is forecast to remain tarnished for some time.
The fact that California remains locked in such a pronounced slump compared to its economically and demographically similar cousin to the southeast has been pounced upon with biblical zeal by conservative commentators who claim the state's woes are a direct result of its liberalism and sloth. But in truth, California's industrial mix and its history of voter empowerment may have done more than glad-handing liberalism to bring low the nation's largest economy -- one that, in better times, brought the world the Popsicle, the Hula Hoop, the "slimsuit" swimsuit, and the fortune cookie.
Article via Fortune »