The election is over and much of the uncertainty about the job market is still having a significantly detrimental impact on many parts of the United States. This is not true for Texas. Texas continues to lead the way in the creation of jobs.
Texas leads the way when it comes to states that will add the most jobs over the next five years on a percentage basis. Total employment in Texas is forecasted to expand 2.9 percent annually through 2015 according to research firm Moody’s Analytics. That represents 1.6 million new net jobs for the state over five years.
How does Texas continue to defy the odds and attract businesses all over the state? Texas offers a low tax, business friendly climate with a surging population that offers a nearly unlimited supply of young labor. Texas ranks sixth in when looking at the best states for business and careers. The state has aggressively courted companies to come to Texas to take advantage of these attributes. You look at other states and see many states are experiencing a massive exodus due to the dismal job opportunities. Businesses understand that Texas is the place where companies can thrive and offer not only the community its services but also the revenue created by having so many businesses.
Texas has no personal income tax and no intention of ever creating one. There simply is no need. The state uses its Texas Enterprise Fund to sweeten economic development deals for companies that are looking to relocate or expand. General Electric, eBay, Electronic Arts, 3M and TD Ameritrade have all announced expansion plans this year with help from the Texas Enterprise Fund.
Texas is a land of ongoing success and endless opportunity. You will not find a Texan that is shy about boasting about its Teflon job market, an economy that has weathered the worst economic storm of our time. The winning mixture of low taxes, reasonable regulatory structure, fair court system, and world-class workforce has paid in dividends. Most importantly, good jobs for hard-working Texans are always available and opportunity is still bountiful. This is just some of the evidence supporting Texans’ contention that the Lone Star State is the best place in the nation to live, work and raise a family.
Source: “Office of the Governor Rick Perry – Texas Brags: What Others Are Saying.” Office of the Governor Rick Perry – Texas Brags: What Others Are Saying. Web. 13 Dec. 2012.
Badenhausen, Kurt. “The Best States For Jobs.” Forbes. Forbes Magazine, 22 Nov. 2011. Web. 13 Dec. 2012.