Texas Reaches New Economic Envelope

The U.S. is certainly an example of a well-built us economy. The U.S.A is divided into fifty states with Alaska in the far north, Hawaii extending the reach of the country into the Pacific Ocean, and major Atlantic Coast states are New York, a cultural and finance center. Major Midwestern cities are Chicago, a major commercial and cultural center, and Washington, DC, a political capital. On the east coast, Los Angeles is famous for Hollywood and on the western side, New Orleans continues to rebuild and reinvent itself into a modern, booming city. In between these, there are many up-and-coming states that are expected to quickly join the ranks of the fastest growing states in the U.S.

A key ingredient to the strength of the US economy has been the overall strength of its credit. When the credit is good, borrowers get favorable interest rates and low adjustable rates. Borrowers want to borrow money for infrastructure development, new businesses, expansion of existing business or to purchase land. If a lender feels that a borrower will likely be unable to pay back the loan on time, that lender may decline the request for a loan. This creates room for a state like Texas that excels at providing low interest, low adjustable rates and the necessary infrastructure to attract borrowers.

This is just one reason why Texas has historically been a leading state in terms of growth. Another reason for the strong Texas economy is the fact that the state’s tax structure is highly regressive. Texas does not have any personal income tax or sales tax, so the revenue generation is very low. Because of this lack of income tax a large amount of the state’s revenue is collected from property taxes. Property taxes are the single largest component of the Texas property tax burden. As a result, property owners pay the lowest effective rate of any state in the US.

As you can see, Texas has not only made the best use of the federal funds that have been directed to the US economy but has maximized the potential of that funding by taking advantage of the incentives the state has offered to commercial real estate developers and builders. As a result, there are few areas of the US where developers can build the high-end housing developments that make up the US dream. The Texas model serves as an example of how a state can successfully develop a vibrant economy that is both lucrative to local businesses and the national economy.

Texas offers a wide range of opportunities for investment and development, especially in the service and product sectors. Service companies such as Holiday Inn and other retailers enjoy steady growth in this Lone Star State. In response to the growing needs of Americans for fast food and home-based services, a large number of fast-food chains have recently opened in Texas. This trend represents the state’s continued commitment to reaching its goal of creating a world-class business environment.

Meanwhile, the nation’s largest energy producer continues to invest in research and development, and it continues to take advantage of the opportunities that natural gas presents. As a result, US companies continue to lead the way in exploiting this fuel source. As more US citizens benefit from lower energy costs, they spend more money in US products and employ hundreds of thousands of people in this country. These positive economic impacts are expected to continue to fuel Texas’ growth in our nation’s economy.

As the above two factors are representative of Texas’ success in turning the US economy around, it is no surprise that Texas oil profits are also increasing. As stated above, the state offers enormous growth opportunities to companies that choose to build and maintain operations in the Lone Star State. Companies that produce, process, or deliver petroleum gases are particularly well-positioned to take advantage of Texas’ pro-business climate and grow at the highest rates in the nation. In fact, companies in the petroleum industry are among the most profitable in the US economy. And as the oil market continues to experience prolonged uncertainty, the sector will continue to thrive. As Texas becomes one of the most successful states in the US in terms of growth in our nation’s economy, the state will continue to attract new investments and labor.

As all economic indicators point to Texas as being the fastest-growing state in the US, it is clear that many businesses and residents are confident in the future of this Lone Star state. As the political stability and the quality of life continue to increase, the state will become even more attractive to workers and their families. In short, the outlook for Texas’ economic growth looks strong. It is time for residents in the US to get excited about the potential for economic opportunity in this powerful state. There is no reason why businesses in Texas cannot prosper under the right economic conditions. As more US residents make the move to Texas, the state will continue to enjoy a strong economy and the kind of growth that the rest of the country can only dream about.