November 20, 2013
Texas cities continue to catch the attention of national business and economic publications for their economic strength and job creation, taking top marks in recent rankings by Forbes and The Business Journals.
“When it comes to the critical areas of economic success and job creation, it’s no secret why Texas continues to set a national example,” Gov. Perry said. “It’s simple: we keep taxes low, maintain fair and predictable regulations, and protect our citizens from frivolous lawsuits. These free market principles have created an environment that allows hard-working Texans to prosper, unburdened by an intrusive government that taxes success and limits our freedom.”
According to the Forbes study released last month, the top four U.S. metro areas for middle class job creation since 2007 are in Texas. Austin-Round Rock-San Marcos ranked first, adding 17,000 middle class jobs, followed by Houston-Sugarland-Baytown, San Antonio-New Braunfels and Dallas-Fort Worth-Arlington. In addition, The Business Journals’ October 2013 ranking of U.S. cities by economic strength named three Texas cities in the top five. Austin topped the list, with Dallas-Fort Worth and Houston taking the second and fourth spots.
This week, Gov. Perry joined world-renowned economist Dr. Arthur Laffer to highlight Texas’ conservative fiscal principles and contrast the economic policies of red states vs. blue states. Laffer unveiled a new study citing Texas’ low-tax, business friendly environment as the driving force behind its economic success story.
Texas’ economy continues to see growth across several industries. Last month, San Antonio-based Toyota announced truck sales were up 23 percent from one year ago, while Seguin-based Caterpillar Inc. assembled their 150,000th engine earlier this month. Dakin Industries Inc. this month also announced plans to create 250 new manufacturing jobs at an existing plant in Houston, while Mitsubishi Heavy Industries Compressor Corp. will establish a manufacturing plant in Pearland. Additionally, NBTY last month announced plans to open a vitamin manufacturing center in San Antonio, which is expected to create 100 new jobs.
The high tech industry is also growing in Texas. This month, Climbtech announced plans to relocate its Asia-based manufacturing operations to Austin, and IBM unveiled a new, Austin-based software studio that has already created 100 new jobs, with plans to create 1,000 jobs over the next five years. Earlier this month, Gov. Perry announced an investment in Oracle through the Texas Enterprise Fund, creating 200 jobs in Austin. In September, Motorola Mobility successfully launched its new smartphone manufacturing plant in Fort Worth, creating 2,500 new jobs in the state.