Tribpedia: Economy

With a civilian labor force of more than 12 million and a gross state product of $1.22 trillion in 2008, Texas has the second largest economy in the United States and the 15th largest in the world. The Federal Reserve Bank of Dallas is one of many agencies that keeps track. The state comptroller stays up with key statistics.

Oncor CEO Bob Shapard testifies before the Texas Public Utility Commission on Jan. 11, 2016. He expressed concerns over the Hunt family's plan to buy Oncor, the state's largest electric utility.
Oncor CEO Bob Shapard testifies before the Texas Public Utility Commission on Jan. 11, 2016. He expressed concerns over the Hunt family's plan to buy Oncor, the state's largest electric utility.

Oncor: Hunt's Possible Merger Could Boost Rates

Oncor, the state’s largest utility, is warning state regulators that electric rates could increase for millions of Texas customers if they approve a complex reorganization plan offered by the Ray L. Hunt family.

 

If successful, an oil driller's lawsuit could cost Texas up to $4.4 billion in sales tax refunds, comptroller Glenn Hegar warns.
If successful, an oil driller's lawsuit could cost Texas up to $4.4 billion in sales tax refunds, comptroller Glenn Hegar warns.

Oil Driller's Lawsuit Could Cost Texas Billions in Tax Refunds

What is the definition of "tangible personal property?" The arcane question is at the center of a lawsuit that could reap energy companies a multibillion-dollar windfall and drain the state's budget surplus. “This is very serious, real money," Comptroller Glenn Hegar said.

State Comptroller Glenn Hegar says his revenue estimate to divvy up for the 2016-17 budget will be about $113 billion.
State Comptroller Glenn Hegar says his revenue estimate to divvy up for the 2016-17 budget will be about $113 billion.

Hegar Calls Moody's Dour Texas Budget Report "Unfounded"

Comptroller Glenn Hegar launched a torrent of criticism at Moody’s Investors Service on Thursday after the credit rating agency released a report suggesting a drilling slowdown could eat up a projected $4 billion state budget surplus by December.

During a stop at the Spindletop Museum in Beaumont, U.S. Sen. Ted Cruz pitched his energy policy bill, which he calls the American Energy Renaissance Act.
During a stop at the Spindletop Museum in Beaumont, U.S. Sen. Ted Cruz pitched his energy policy bill, which he calls the American Energy Renaissance Act.

With Eminent Domain Attack on Trump, Ted Cruz Walks Fine Line

Despite a recent ad bashing Donald Trump for employing eminent domain for a parking lot, Ted Cruz strongly backed the Keystone XL and other pipeline projects that would use the same controversial tool to displace landowners. The disconnect illustrates the tough terrain candidates walk when advocating for property rights — particularly in Texas.

Texas Loses Bid to Block Obama's Clean Power Plan

A federal appeals court on Thursday denied a request from Texas and other states to block President Obama’s Clean Power Plan, leaving the climate change rules in place as a legal challenge winds through the courts. The U.S. Court of Appeals for the District of Columbia wrote that the states — joined by the coal industry — “have not satisfied the stringent requirements for a stay.” 

Oncor CEO Bob Shapard testifies before the Texas Public Utility Commission on Jan. 11, 2016. He expressed concerns over the Hunt family's plan to buy Oncor, the state's largest electric utility.
Oncor CEO Bob Shapard testifies before the Texas Public Utility Commission on Jan. 11, 2016. He expressed concerns over the Hunt family's plan to buy Oncor, the state's largest electric utility.

Oncor Airs Concerns with Ray Hunt Takeover Plan

Top officials at Oncor, Texas’ largest electric utility, aired concerns on Monday with Dallas billionaire Ray L. Hunt’s $18 billion proposal to take over and reshape their company. It's all part of an effort by Oncor’s parent, Energy Future Holdings, to emerge from one of the largest bankruptcies in American history.

Retirees Group Spars With Hunt Over Oncor Sale

America’s biggest retiree group wants state regulators to reject Ray L. Hunt's proposal to buy the state’s biggest electric transmission company, suggesting it will shift wealth from everyday Texans to rich folks in suits. But the Dallas oilman and real estate mogul is strongly pushing back. 

 

 

 

One Texas economic program offers millions of dollars in incentives to draw in events such as Formula 1 racing.
One Texas economic program offers millions of dollars in incentives to draw in events such as Formula 1 racing.

Abbott's Office Touts Business Tax Incentives

Though Gov. Greg Abbott suggested government should get "out of the business of picking winners and losers” on the 2014 campaign trail, his office on Thursday expressed strong support for the litany of taxpayer-funded incentives Texas uses to lure in out-of-state businesses.

Physicist Paul Chu, head of the University of Houston's Center for Superconductivity, speaks at a research summit organized by the Academy of Medicine, Engineering and Science of Texas on Nov. 13, 2015.
Physicist Paul Chu, head of the University of Houston's Center for Superconductivity, speaks at a research summit organized by the Academy of Medicine, Engineering and Science of Texas on Nov. 13, 2015.

Texas Scientist Aims to Revolutionize Electricity Grid

Paul Chu, founding director and chief scientist at the University of Houston’s Texas Center for Superconductivity, discusses how energy storage could revolutionize the grid, and how Texas plays a role in advancing the technology. 

A new breed of app-based moving companies has drawn the interest of the Texas Department of Motor Vehicles, which wants to ensure that the companies are following state laws.
A new breed of app-based moving companies has drawn the interest of the Texas Department of Motor Vehicles, which wants to ensure that the companies are following state laws.

Uber-Style Moving Companies Draw State's Attention

A new breed of app-based moving companies has drawn the interest of the Texas Department of Motor Vehicles, which wants to ensure that companies with names like Buddytruk and PICKUP are only hiring movers who are properly registered.

Vice President Joe Biden speaks Wednesday, Nov. 18, 2015, in Houston.
Vice President Joe Biden speaks Wednesday, Nov. 18, 2015, in Houston.

Biden Touts Houston's Green Makeover as National Model

Vice President Joe Biden on Wednesday praised Houston's effort to turn greener — by harnessing millions of dollars in public and private funds to build parks and paths to connect them — and suggested the city could be a model for other cities looking to attract new businesses by bolstering residents’ quality of life.

Paul McGuire, with the federal Bureau of Land Management, speaks with landowners in Clay County on April 28, 2014.
Paul McGuire, with the federal Bureau of Land Management, speaks with landowners in Clay County on April 28, 2014.

Red River Landowners Take Battle with Feds to Court

Tired of waiting on lawmakers and bureaucrats to clear up their limbo, a group of North Texans has turned to the courts in an effort to reclaim thousands of acres of ranch and farmland along the Texas side of the Red River. It's land they’ve long tended — but the federal government claims it as its own. 

Prop 1 signs posted along the Adaptive Sports and Recreation facility on West Grey in Houston, TX for the November 2015 election. Photo by: Shelby Knowles
Prop 1 signs posted along the Adaptive Sports and Recreation facility on West Grey in Houston, TX for the November 2015 election. Photo by: Shelby Knowles

No Evidence Yet of Backlash to Houston HERO Vote

After it became clear that Houston’s non-discrimination ordinance would be trounced at the polls, Houston Mayor Annise Parker said she feared a “direct, economic backlash” for the city. So far, there's no visible evidence of one, and Houston appears at no risk of losing two upcoming major sporting events.

The Japanese Shinkansen is a high-speed trail used by JR Central in Japan. A private company is planning to build a rail line between Dallas and Houston using the same trains.
The Japanese Shinkansen is a high-speed trail used by JR Central in Japan. A private company is planning to build a rail line between Dallas and Houston using the same trains.

Firm Claims Bullet Train Will Have $36 Billion Impact

The private firm trying to build a bullet train between Dallas and Houston has released a study claiming it would pump more than $30 billion into the state economy over the next 25 years, including about $2.5 billion in taxes.