Texas - Economy

Economy

Main article: Economy of Texas

As of 2010, Texas had a gross state product (GSP) of $1.207 trillion, the second highest in the U.S. Its GSP is comparable to the GDP of India or Canada, which are the world's 12th- and 11th-largest economies, respectively. Texas' economy is the fourth-largest of any country subdivision globally, behind England (as part of the UK), California, and Tokyo Prefecture. Its Per Capita personal income in 2009 was $36,484, ranking 29th in the nation.

Texas's large population, abundance of natural resources, thriving cities and leading centers of higher education have contributed to a large and diverse economy. Since oil was discovered, the state's economy has reflected the state of the petroleum industry. In recent times, urban centers of the state have increased in size, containing two-thirds of the population in 2005. The state's economic growth has led to urban sprawl and its associated symptoms.

As of April 2012, the state's unemployment rate is 6.5%.

In 2010, Site Selection Magazine ranked Texas as the most business-friendly state in the nation, in part because of the state's three-billion-dollar Texas Enterprise Fund. Texas has the joint-highest number of Fortune 500 company headquarters in the United States, along with California.

In 2010, there were 346,000 millionaires in Texas, constituting the second-largest population of millionaires in the nation.

Read more about this topic:  Texas

Other articles related to "economy":

Scotland - Economy and Infrastructure
... Scotland has a western style open mixed economy that is closely linked with the rest of Europe and the wider world ... Traditionally, the Scottish economy has been dominated by heavy industry underpinned by the shipbuilding in Glasgow, coal mining and steel industries ... saw a shift from a manufacturing focus towards a more service-oriented economy ...
Iran–Iraq War - Home Front - Iran - Economy
... The war furthered the decline of the Iranian economy that had begun with the revolution in 1978–79 ...
Katanga Province - Economy
... Copper mining is an important part of the economy of Katanga province ... Cobalt mining by individual contractors is also prevalent ...
Great Depression - Causes - Demand-driven - Keynesian
... Employment Interest and Money that lower aggregate expenditures in the economy contributed to a massive decline in income and to employment that was well ... In such a situation, the economy reached equilibrium at low levels of economic activity and high unemployment ... fully employed, governments have to run deficits when the economy is slowing, as the private sector would not invest enough to keep production at the normal ...
Quincy, Massachusetts - Economy
... During its history Quincy has been known as a manufacturing and heavy industry center, with granite quarrying dominating employment in the 19th century and shipbuilding at Fore River Shipyard and Squantum Victory Yard rising to prominence in the 20th century ... The recent decades have seen a shift in focus to several large employers in the financial services, insurance and health care sectors of the economy ...

Famous quotes containing the word economy:

    It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.
    Henry David Thoreau (1817–1862)

    Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.
    Ralph Waldo Emerson (1803–1882)

    War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?”
    Doris Lessing (b. 1919)