The Lone Star state boasts all-star status when it comes to job creation and economic growth. Writing for City Journal, Wendell Cox brings us a great in-depth look at one of the healthiest state economies in the U.S. Texas job creation is well above the national average, with the number of jobs having grown 31.5 percent since 1995. Even more impressive, many of the new jobs were high-paying, coming from professional and technical fields. Cox explains why:
A pro-business climate has unquestionably been a substantial advantage. In its annual ranking of business environments, Chief Executive has named Texas the most growth-friendly state for eight years in a row. (California has been last for the same eight years.) The reasons included low taxes and sensible regulations; a high-quality workforce (Texas ranked second only to Utah in that category in 2012); and a pleasant living environment….
Part of the explanation for the high living-environment score is doubtless Texas’s low cost of living…. More than three-quarters of the cost-of-living difference between Texas and California can be explained by housing costs….
Read the whole thing. Cox makes well-supported points about why this particular state is doing so well.
Other states should be looking to Texas for inspiration. It’s no coincidence that Cox compares Texas and California so frequently in his article. California may still have the biggest economy, but at the moment Texas has all the momentum.
[Image courtesy of Shutterstock.com.]