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Business Climate

-Texas’ economy is second to none nationally.
-The Office of the Comptroller reports, Texas employment fell by more than 422,000 during the recession, reaching its low point in December 2009, but returned to its pre-recession peak in November 2011.
-By February 2013, the state had added an additional 454,000 jobs. In the U.S. as a whole, only 67 percent of recession-hit jobs were recovered by March 2013.
-Texas and the nation returned to economic growth in 2010 and 2011, respectively. In calendar 2012, Texas real gross domestic product grew by 3.2 percent, compared with 2.2 percent for the U.S.
-However, Texas can – and must – do better. Unemployment remains too high as a result of the national recession: the Texas unemployment rate was 6.5 percent for May 2013 compared to 4.4% before the start of the recession.
-Federal policies will continue to have a negative impact on job growth. Higher federal taxes kicked in earlier this year, the harmful economic impact of Obamacare is already being felt (higher taxes, job losses, spike in insurance rates) and President Obama has launched yet another attack on the energy industry. It’s imperative that Texas redouble its efforts to remain the nation’s economic leader.
-Texas’ economy is one of the most vibrant in the nation. We must build on this strength by cutting taxes and limiting government interference in the private sector so that businesses of all sizes can continue to grow and create jobs and prosperity for all Texans. Limiting the growth of the state budget and keeping debt under control, while ensuring that Texas is able to meet its infrastructure needs as the state continues to grow, will also be critical to our future prosperity.

This category contains 15 topics and 8 replies, and was last updated by  Bas van der Veer 4 years ago.

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