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Small Cities, Big Business
TEXpansion: Caterpillar inches toward Seguin
Tyler partnership seeks cleaner air
Oil town diversifies economy, adds jobs
Partnering for Impact: Funding options for cash-strapped local governments
Texas economy surpasses nation’s
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Texas Economy Outperforms Nation’s
Despite a slowing national economy, Texas was the only state to report a statistically significant increase in jobs from December 2007 to December 2008, according to the U.S. Bureau of Labor Statistics.
| State | Jobs Added/Lost 12/07-12/08* |
|---|---|
| Texas | +153,700 |
| California | -257,400 |
| Florida | -255,200 |
| Michigan | -173,000 |
| North Carolina | -120,000 |
* Seasonally adjusted
Source: U.S. Bureau of Labor Statistics
Texas ranked as the top state for business in 2008, according to a ranking by CNBC.com. CNBC ranked all 50 states in 10 categories, including economy, work force, education, transportation and other areas.
| State (Overall) | Economy (rank) | Transportation (rank) |
|---|---|---|
| 1. Texas | 1 | 1 |
| 2. Virginia | 17 | 13 |
| 3. Utah | 3 | 32 |
| 4. Idaho | 5 | 24 |
| 5. North Carolina | 11 | 35 |
Source: CNBC.com
The state’s economic growth is expected to surpass that of the nation through 2011, according to the Comptroller’s Winter 2008-09 Economic Forecast.
| Year | Texas | U.S. |
|---|---|---|
| 2005 | 3.2 | 3.1 |
| 2006 | 4.1 | 2.8 |
| 2007 | 4.5 | 2.1 |
| 2008 | 4.2 | 1.9 |
| 2009 | 1.8 | -0.9 |
| 2010 | 1.9 | 1.0 |
| 2011 | 3.8 | 2.9 |
Source: Texas Comptroller