Tribpedia: Economy

Tribpedia

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.

Read More...

TribWeek: Top Texas News for the Week of 7/25/11

Aaronson examines the Texas jobs "miracle," Root on how Rick Perry built his financial portfolio, Tan and Wiseman on Perry vs. Ron Paul, Philpott on how budget cuts will affect a mental health provider, yours truly on a House freshman who was less than impressed with his first legislative experience, M. Smith on public schools charging for things that used to be free, Hamilton on a new call to reinvent higher education, Grissom on a rare stay of execution, Galbraith on the end of a Panhandle wind program, Aguilar on the increase of legal immigration into the U.S. and Texas: The best of our best content from July 25 to 29, 2011.

Job Creation, Unemployment and the Texas Miracle

The latest jobs numbers have propelled talk of a “Texas miracle” as Gov. Rick Perry continues to consider a run for the presidency. But Texas’ unemployment rate is higher than that of all four states bordering it — and it’s up slightly from last year. So why does everyone keep touting Texas, and Perry in particular, for its strong economy?

Texas Governor Rick Perry gestures as he speaks at the ceremonial bill signing of HB3727 regarding property tax evaluations of aircraft at the Boeing facility in San Antonio on June 23, 2011.
Texas Governor Rick Perry gestures as he speaks at the ceremonial bill signing of HB3727 regarding property tax evaluations of aircraft at the Boeing facility in San Antonio on June 23, 2011.

The Midday Brief: Top Texas Headlines for June 27, 2011

Your afternoon reading: Sanctuary cities bill isn't dead; UT System and former adviser Rick O'Donnell reach settlement; House passes health reform bill; George Will says Rick Perry is a "potentially potent candidate"; debating how much credit Perry deserves for jobs creation; TSA removes 95-year-old woman's diaper

Gov. Rick Perry speaks to the Republican Leadership Conference in New Orleans on June 18, 2011
Gov. Rick Perry speaks to the Republican Leadership Conference in New Orleans on June 18, 2011

Video: Perry's Speech in New Orleans

Gov. Rick Perry fired up the party faithful at the Republican Leadership Conference in New Orleans on Saturday. Watch C-SPAN's video of his speech, which clearly shows he's nodding to a national audience. "I gotta brag on Texas values for a bit," Perry said, before citing the state's job growth numbers. Perry received a standing ovation and exited the room as a frenzied crowd begged him to run for president. 

Gov. Rick Perry outside the House chamber on May 28, 2011.
Gov. Rick Perry outside the House chamber on May 28, 2011.

Perry Slaps Obama, Acts Like GOP Hopeful, in NYC

Gov. Rick Perry, moving closer to a run for the White House, took his anti-Washington message to New York Tuesday, telling a gathering of GOP donors that the Obama administration had “promised jobs and … delivered economic misery.” In his highly anticipated speech, Perry gave the crowd the kind of angry populism he wielded against U.S. Sen. Kay Bailey Hutchison in the 2010 primary.

Immigration, Economy Top Concerns in UT/TT Poll

The most important problems facing the country are economic, while immigration and border security are the most important problems facing the state, according to the latest University of Texas/Texas Tribune poll. And while they remain decidedly conservative, 61 percent of Texans say gay and lesbian relationships deserve some form of official recognition.

Governor Rick Perry, Speaker Joe Straus and Lt. Governor David Dewhurst after their first weekly breakfast meeting saying they will work together on the state budget.
Governor Rick Perry, Speaker Joe Straus and Lt. Governor David Dewhurst after their first weekly breakfast meeting saying they will work together on the state budget.

California Hopes to Learn From Texas Job Growth

One reason companies move from California to Texas is the Golden State's higher tax burden. But are taxes really lower here than there? Depends on how you look at it.

Deuell: Make Cuts, but Raise Taxes Too

State Sen. Robert Deuell, R-Greenville, would rather raise taxes a little bit than make the cuts lawmakers are considering now, he told the Tribune this evening. Deuell has been a proponent of a 10-cent increase in gasoline taxes for some time — since before his Republican primary and general election victories last year — and said he would support a broader sales tax too. "We're the 45th-lowest tax state," he said. "I'm not chomping at the bit to be number 44, but we're a low-tax state and we've got people in need."

Texas Study Stresses Economic Progress Through Art

Creative industries — from advertising to dance companies to book publishing — generate $4.5 billion per year in economic activity for Texas, according to a new report released by the Texas Cultural Trust in association with the Texas Commission on the Arts. The report features projects in communities like Amarillo, El Paso, Rockport, Texarkana and the tiny, north central Texas town of Clifton, population 3,795. “It’s more than fluff,” says Amy Barbee, the Trust's executive director. “We want to tell the story that the arts truly are economic development.”

Cross-Border Trucking Program Could Begin Again

A proposal by the Obama administration that would grant Mexican truckers greater access to Texas roadways would be a boon for business in the state, supporters say, since three of the top five ports for trade between the U.S. and Mexico are Laredo, El Paso and Houston. But unions contend the plan would cost American jobs. “This cheap-labor program comes at too high a risk and at too large a cost to middle-class American workers who work long, hard hours to help maintain a safe commerce system in our nation,” says a spokesman for the Texas AFL-CIO.

Thousands of motorists wait in line on the southernmost stretch of IH-35 in Laredo, Texas. Despite a global recession and escalating violence in Mexico thousands of "paisanos" still made the trek south for Christmas. As the hours passed, however, their concerns about traveling Mexico's highways at night grew. A recent prison break in Nuevo Laredo didn't help soothe their fears about bandits lurking on the roadways. "We might have to get a hotel here," said one traveler.
Thousands of motorists wait in line on the southernmost stretch of IH-35 in Laredo, Texas. Despite a global recession and escalating violence in Mexico thousands of "paisanos" still made the trek south for Christmas. As the hours passed, however, their concerns about traveling Mexico's highways at night grew. A recent prison break in Nuevo Laredo didn't help soothe their fears about bandits lurking on the roadways. "We might have to get a hotel here," said one traveler.

Violence and a Sour Economy Aren't Enough to Keep Paisanos from Going Home

As he sat in traffic last Saturday on the final stretch of I-35 in Laredo in a truck loaded with U.S. goods, Higinio Navarrette was a microcosm of the holiday season on the border: an area where the local economy is as affected by security and cartel-related violence as it is by the nationwide economic slowdown.

Factory workers in Ciudad Juárez assemble components for hair dryers on a manufacturing line managed by El Paso-based TECMA, an outsourcing company that had one of the best years on record in 2009. Last year’s success came despite Ciudad Juárez logging more than 2,600 murders.
Factory workers in Ciudad Juárez assemble components for hair dryers on a manufacturing line managed by El Paso-based TECMA, an outsourcing company that had one of the best years on record in 2009. Last year’s success came despite Ciudad Juárez logging more than 2,600 murders.

Despite Violence, Manufacturing in Juárez Climbing

So much for the economic impact of headline-making violence. Despite being on track to exceed 3,000 homicides this year, Juárez has seen its manufacturing sector flourish, regaining since July 2009 a quarter of the jobs lost during the height of the recession. More than $42 billion in trade value moved through the ports that the city shares with El Paso last year, and that number should be higher in 2010. And the amount of of tractor-trailer traffic hauling goods through the region was 22 percent greater in the first six months of this year than it was in the same period last year.

Unemployment Benefits Set to Run Out for Many

New jobless numbers show that the nation as a whole added fewer jobs than expected last month. Here in Texas, things appear better, but there are still plenty of people out of work — and as Matt Largey of KUT News reports, the job market can be an especially daunting place for those who are out of work the longest.