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.

Chevron was expected to build an office building at 1600 Louisiana Street in downtown Houston. More than two years after receiving state support for the project, company company officials say they have no plans to build the tower in the near future.
Chevron was expected to build an office building at 1600 Louisiana Street in downtown Houston. More than two years after receiving state support for the project, company company officials say they have no plans to build the tower in the near future.

Years Later, Benefits from State Subsidy to Chevron Hard to Find

Texas announced in 2013 it was giving Chevron millions of dollars toward building a new office tower and creating 1,752 jobs. More than two years later, the site of the building remains a grassy lot and Chevron has laid off hundreds of workers.

Cotulla Motel employee Jared Ramirez bags ice on April 7, 2016. Ramirez began working at the motel after work in the oil fields dried up.
Cotulla Motel employee Jared Ramirez bags ice on April 7, 2016. Ramirez began working at the motel after work in the oil fields dried up.

In Texas Drilling Country, Oil Plunge Means Too Many Rooms at the Inn

Cotulla, population 4,000, built 20 hotels during a yearslong oil boom, calling itself the "Hotel Capital" of the Eagle Ford Shale. A plunge in oil prices has prompted questions about whether that was a good idea. 

La Salle County, about 90 miles southwest of San Antonio, has professionalized its once all-volunteer firefighting force and invested in new trucks and equipment. The overhaul has slashed response times and spurred more residents to trust first responders, officials say.
La Salle County, about 90 miles southwest of San Antonio, has professionalized its once all-volunteer firefighting force and invested in new trucks and equipment. The overhaul has slashed response times and spurred more residents to trust first responders, officials say.

In South Texas County, an Investment in Survival

Thanks to a surge in drilling, La Salle County was able to finance a multi-million upgrade to its emergency response capabilities. While the oil boom has stalled, the dramatic improvements are here to stay, officials say.

Bobby Epstein, Chairman and CEO of Circuit of the Americas, speaks at a press conference concerning F1's return to COTA at the COTA Downton Paddock on March 9, 2016.
Bobby Epstein, Chairman and CEO of Circuit of the Americas, speaks at a press conference concerning F1's return to COTA at the COTA Downton Paddock on March 9, 2016.

F1 Organizers Hope Taylor Swift Brings Them Out of the Woods

After months of speculation that the U.S. Grand Prix in Austin could be canceled this year, organizers say the race is on — and they're bringing in Taylor Swift on race weekend to help shake off the organization’s financial woes.

An oil driller had filed a lawsuit over sales tax refunds. Texas Comptroller Glenn Hegar's office warned that a Texas loss could have spurred up to $4.4 billion in refund filings for 2017 alone.
An oil driller had filed a lawsuit over sales tax refunds. Texas Comptroller Glenn Hegar's office warned that a Texas loss could have spurred up to $4.4 billion in refund filings for 2017 alone.

Billions At Stake for State in Tax Challenge

The Texas Supreme Court on Tuesday will hear arguments in a case that could deliver a multibillion-dollar windfall to struggling oil and gas producers, threatening to take a major bite out of state revenue.   

 

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.

 

An oil driller had filed a lawsuit over sales tax refunds. Texas Comptroller Glenn Hegar's office warned that a Texas loss could have spurred up to $4.4 billion in refund filings for 2017 alone.
An oil driller had filed a lawsuit over sales tax refunds. Texas Comptroller Glenn Hegar's office warned that a Texas loss could have spurred up to $4.4 billion in refund filings for 2017 alone.

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.

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 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 has backed the Keystone XL and other pipeline projects that would use the same controversial tool to displace landowners.