The Atlantic has a great story about the economic success story of Texas. This is just one more national publication that is picking up on the fact that Texas is doing something right, well actually alot of things right, and that the rest of the states need to take notice!
The introduction to the story is the best part, it is short and sweet and to the point, Texas is Succeeding.
SAN ANTONIO, TX — No state is thriving in the wake of the Great Recession. But compared to the rest of the country, Texas is experiencing something like an economic boom.
Pick your category, and Texas dominates. Three of the top five most resilient major metro areas for employment are in Texas: McAllen at one, Austin at three, and San Antonio at five. El Paso and Houston make the top 15. How about state debt? Texas ranks fourth in the country. Texas cities claimed four of the top five spots in the Milken Institute’s Best Performing Cities Index, four of the top ten of Forbes’ “Cities Where the Recession is Easing,” and another four spots in last year’s Top Ten in Homebuilding (admittedly, a bit like winning a Warmest Ice Cube contest).
Talk to folks in Texas about their state’s good fortune, and they’ll also point out that the Lone Star State would be the 15th largest economy in the world if it were really alone, and that 64 Fortune 500 companies call Texas home, more than any other state. For relish: more Americans are moving into Texas than any other state, and CNBC recently named it Top State for Business for the second time in three years.
What’s going on? From conversations with San Antonio business people and economists in and outside of Texas, I’ve settled on four reasons.