DOCSLIB.ORG

Executive Summary March 2017

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Executive Summary March 2017 Executive Summary March 2017 By Ani Turner, Altarum Institute The Business Case for Expanding Opportunity and Equity in Texas: Race, Income, and Economic Growth Changing Composition of Texas Working Age Population 2015 2050 54% 43% 39% Educational achievement past high school would increase state earnings by more than already lags behind employer demand. 50 percent, or $335 billion, increasing Texas 26% Businesses in Texas import more than economic output by nearly $2 trillion – an 90,000 people with a post-secondary increase that is more than the current GDP of 7 12% 10% 9% education each year from outside the state. Canada, Australia, Korea, Spain, or Mexico. 6% By 2020, 62 percent of jobs in Texas are Higher earnings mean more spending on expected to require some post-secondary goods and services. A $182 billion increase 8 White Black Hispanic Other education. Today, 61 percent of White, 52 in earnings would mean about $18 billion percent of Black, and 37 percent of more in food purchases, $5 billion in apparel Hispanic adults in Texas have some and services, $24 billion in cars, gas, and The Texas working age 9 With low taxes and costs of living, educational attainment, fewer employment post-secondary education. As Hispanics transportation expenses, and $7.4 billion in population (age 18-64) is 13 a friendly business climate,1 and ample opportunities, and less financial security become a larger share of the workforce, the entertainment. By 2050, closing earnings projected to grow by 6.8 land and natural resources, the Texas than the average White child.4 As today’s shortfall in educational credentials will gaps would be associated with $34 billion million people, a growth economy has been growing faster than the children of color become the majority adult increase unless these achievement more in food, $9 billion in apparel and of more than 40 percent, national average for the past four decades. population, their life outcomes will define gaps are closed. services, $45 billion in transportation, and and is expected to shift A growing population that is younger and the way the Texas workforce, customer Finally, earnings are a good summary $13.6 billion more in entertainment spending. from predominantly White more diverse than the national average is a base, neighborhoods, and communities measure of gaps because they reflect the Earnings also bring in more tax revenues and to predominantly Hispanic. tremendous potential asset for continued evolve. The economic stakes, along with combined effect of many areas where there decrease the need for social services economic vitality in the decades ahead. opportunities for significant gains, are high. are disparities, including education, health, spending, improving the fiscal outlook for the However, the youngest and fastest-growing As we show in this brief, even a modest employment opportunities, and incarceration state. In 2015, closing earnings gaps would acceleration in improvements in life rates. The average Hispanic person in Texas mean nearly $14 billion more in state and groups in Texas, those that will dominate the 14 workforce in the near future, are also those outcomes for these groups represents earns half what his or her White counterpart local tax revenues. By 2050, the additional that are currently furthest behind in billions of dollars in additional earnings, earns, while Blacks on average earn about $335 billion in earnings would generate more tax revenues, and purchasing power 40 percent less and Asians earn about 20 than $25 billion in additional state and local education, health, earnings, and financial 10 assets.2 The ability of businesses and the in the state. percent less. Median net worth, which tax revenues. overall economy of Texas to grow depends affects the ability to respond to unexpected Examples of current gaps in expenses or to invest in a home, education, Which path into the future? on accelerating progress in closing today’s Texans have a significant opportunity to gaps in educational achievement and opportunity and life outcomes or business, ranges from $91,000 for 11 improve educational outcomes and support a earnings potential for these groups. One-third of Hispanic and Black children Whites to $28,000 for Hispanics. in Texas today live in poverty, compared to vital economy long into the future. Beyond By 2050, Texas is projected to grow Examples of potential economic earnings, higher education is associated with from about 27 million people to more than 11 percent of White and 12 percent of 5 gains from closing gaps better health, longer life, less likelihood of 3 Asian children. Hispanic and Black 40 million people. Virtually all of this Closing gaps in education and health being incarcerated, and more volunteering, growth comes from people of color, mostly children are also more likely to live in Research reduce the current gaps in earnings. If the charitable donations, and civic involvement.15 Supported by: people of Hispanic origins. The Texas neighborhoods of concentrated poverty. Hispanic and Black adults are less likely to average person of color in Texas achieved Groups around the state are already working age population (age 18-64) is the average earnings of their White implementing policies and programs that are projected to grow by 6.8 million people, a be homeowners and more likely to be incarcerated than their White counterparts. counterparts at each age group, total successfully reducing educational gaps and growth of more than 40 percent, and to shift Texas earnings would increase by about improving life outcomes.16 Supporting and from predominantly White to predominantly High school graduation rates have improved in Texas in recent years, but gaps one-third, or about $182 billion in 2015. investing in these initiatives as individuals, Hispanic. The corresponding increase in the state’s employers, and communities is not only the The average Hispanic or Black child in remain – 93 percent of White, 95 percent of Asian, 84 percent of Black, and 86 total economic output would be $420 right thing to do, it can create a stronger and Texas today is more likely to be born into an 12 6 billion. By 2050, closing earnings gaps more prosperous Texas for all. environment leading to poorer health, lower percent of Hispanic students graduate. The opinions expressed in this report are those of the author(s) and do not necessarily reflect the views of Greater Texas Foundation. GreaterTexasFoundation.org/altarum.org 1 Executive Summary March 2017 1 Texas ranks in the top 10 in the Tax Percent of Workforce with Some Post Secondary Education Foundation's State Business Tax Climate Index, has ranked either 1st or 2nd in the 10 years of 62% CNBC's Top States for Business ranking, and Employer demand in 2020 consistently ranks 1st in the Best and Worst State Rankings in Chief Executive magazine’s annual Hispanics 37% survey. 2 Murdock, Steve H. and Michael E. Cline, Mary Blacks 52% Zey, P. Wilner Jeanty, Deborah Perez, Changing Texas: Implications of Addressing or Ignoring the Texas Challenge, Texas A&M University Press, Whites 61% 2014. 3 Texas Demographic Center, Texas Population Projections Program, 2014 Population Educational achievement past high school would increase state earnings by more than Projections by Age, Sex, and Race/Ethnicity, 2010-2050, middle series (assumes in-state already lags behind employer demand. 50 percent, or $335 billion, increasing Texas migration continues at only half the pace seen Businesses in Texas import more than economic output by nearly $2 trillion – an from 2000 to 2010). http://osd.texas.gov/Data/TPEPP/Projections 90,000 people with a post-secondary increase that is more than the current GDP of 4 Center for Public Policy Priorities, Texas Kids 7 education each year from outside the state. Canada, Australia, Korea, Spain, or Mexico. Count Project, State of Texas Children 2016: Race and Equity, May 2016. By 2020, 62 percent of jobs in Texas are Higher earnings mean more spending on 5 Annie E. Casey Foundation KIDS COUNT Data expected to require some post-secondary goods and services. A $182 billion increase Center, http://datacenter.kidscount.org/. education.8 Today, 61 percent of White, 52 in earnings would mean about $18 billion Accessed May 9, 2016. percent of Black, and 37 percent of more in food purchases, $5 billion in apparel 6 Four-Year Regulatory Adjusted Cohort Graduation Rate, School Year Hispanic adults in Texas have some and services, $24 billion in cars, gas, and 2013-14.Washington, DC: U.S. Department of post-secondary education.9 As Hispanics transportation expenses, and $7.4 billion in Education, 2015. become a larger share of the workforce, the entertainment.13 By 2050, closing earnings 7 Hunt, Woody L, Chairman, Higher Education Strategic Planning Committee, “The Future of shortfall in educational credentials will gaps would be associated with $34 billion Higher Education in Texas” presentation slide increase unless these achievement more in food, $9 billion in apparel and 18. Cites 2011-2013 U.S. Census Bureau American Community Survey data. gaps are closed. services, $45 billion in transportation, and 8 Carnevale, Anthony P., Nicole Smith, and Jeff Finally, earnings are a good summary $13.6 billion more in entertainment spending. Strohl, “Recovery: Job Growth and Education measure of gaps because they reflect the Earnings also bring in more tax revenues and Requirements through 2020, State Report,” Georgetown University Public Policy Institute, combined effect of many areas where there decrease the need for social services Center on Education and the Workforce, are disparities, including education, health, spending, improving the fiscal outlook for the June 2013. 9 Murdock, Steve H. and Michael E. Cline, Mary employment opportunities, and incarceration state. In 2015, closing earnings gaps would Zey, P. Wilner Jeanty, Deborah Perez, Changing rates.
Load more

Recommended publications
  • View and Summary of Methods Used
    January 2015 The Economic Importance of Texas’ Coastal Counties: An Analysis of the Dependence of Texas and its Regions on Business Operations in the Tier 1 Windstorm Insurance Coverage Area THE PERRYMAN GROUP 510 N. Valley Mills Dr., Suite 300 Waco, TX 76710 ph. 254.751.9595, fax 254.751.7855 [email protected] www.perrymangroup.com The Economic Importance of Texas’ Coastal Counties: An Analysis of the Dependence of Texas and its Regions on Business Operations in the Tier 1 Windstorm Insurance Coverage Area Contents Introduction .......................................................................................................... 1 Study Overview and Summary of Methods Used ............................................................................. 1 Highlights of Study Findings ................................................................................................................. 2 Importance of the Tier 1 Area to the State Economy ..................................... 4 Economic Forecast for the Tier 1 Area ............................................................................................... 6 Regional Economic Dependency on the Tier 1 Area ...................................... 7 Employment ............................................................................................................................................ 8 Gross Product ......................................................................................................................................... 9 Personal Income ..................................................................................................................................
    [Show full text]
  • Range Transportation Plan 2035 Executive Summary
    TEXAS DEPARTMENT OF TRANSPORTATION Texas Statewide Long-Range Transportation Plan 2035 Executive Summary Table of Contents Introduction and Overview 5 Our Transportation System and Its Importance to our Future What is the Statewide Long-Range Transportation Plan? ....................................................................... 6 How was the Statewide Long-Range Transportation Plan Developed? .............................................6 Future Trends and Challenges (2010–2035) 7 How Are We Changing and What Will Be Our Future? Demographic and Economic Changes ............................................................................................................. 7 Freight changes ......................................................................................................................................................... 7 Infrastructure Maintenance Needs Are Growing ........................................................................................ 8 The Environment ...................................................................................................................................................... 8 Technology Changes................................................................................................................................................ 9 Our Transportation System – Now and in the Future 10 What Makes Up Our System and What Are the Future Demands? Moving People ..........................................................................................................................................................
    [Show full text]
  • Fulfillment of the Requirements for the Degree of MASTER of ARTS
    /3 9 THE TEXAS REVOLUTION AS AN INTERNAL CONSPIRACY THESIS Presented to the Graduate Council of the North Texas State University in Partial Fulfillment of the Requirements For the Degree of MASTER OF ARTS By Patsy Joyce Waller,. B. A. Denton, Texas June, 1965 PREFACE In the past many causes for the Texas Revolution of 1835 1836 have been suggested. Various politicians, such as John Quincy Adams, and such abolitionists as Benjamin Lundy and William Ellery Channing have charged that the struggle for independence represented a deliberate conspiracy on the part of vested economic groups in the United States--a plot on the part of southern slaveholders and northern land specula- tors to take over Texas in order to extend the slaveholding territory of the United States. Those who opposed President Andrew Jackson maintained that the Texas revolt was planned by Jackson in co-operation with Sam Houston for the purpose of obtaining Texas for the United States in order to bring into the Union a covey of slave states that would fortify and perpetuate slavery. The detailed studies of Eugene C. Barker, George L. Rives, William C. Binkley, and other historians have disproved these theories. No documentary evidence exists to show that the settlement of Texas or the Texas Revolution constituted any kind of conspiracy on the part of the United States, neither the government nor its inhabitants. The idea of the Texas Revolution as an internal con- spiracy cannot be eliminated. This thesis describes the role of a small minorit: of the wealthier settlers in Texas in iii precipitating the Texas Revolution for their own economic reasons.
    [Show full text]
  • Estimating the Economic Boost of Marriage for Same-Sex Couples in Texas
    Estimating the Economic Boost of Marriage for Same-Sex Couples in Texas By E.G. Fitzgerald, Christy Mallory, and M.V. Lee Badgett July 2014 Executive Summary If marriage is extended to same-sex couples in Texas, the state would see an economic boost as same-sex couples plan their weddings and their out-of-state guests purchase goods and services in the state. This study estimates the impact of wedding spending on the state’s economy and on state and local sales tax revenue. • We predict that 23,200 in-state same-sex couples would choose to marry in the three years following the extension of marriage rights to same-sex couples in Texas. • The total spending on wedding arrangements and tourism by resident same-sex couples and their guests would add an estimated $181.6 million to the state and local economy of Texas over the course of three years, with a $116.2 million boost in the first year alone. • This economic boost would add $14.8 million in sales tax revenue to state and local coffers. • Spending related to same-sex couples’ wedding ceremonies and celebrations would generate 523 to 1,570 full- and part-time jobs in the state. ECONOMIC IMPACT OF MARRIAGE FOR SAME-SEX COUPLES IN TEXAS TOTAL Marriages by Same-Sex Couples 23,200 Wedding Spending $140,754,400 Out-of-State Guest Spending $40,832,000 TOTAL COMBINED SPENDING $181,586,400 TOTAL SALES TAX REVENUE $14,799,292 1 Introduction government, extended the rights and As of June 2014, 19 states, the District of obligations of marriage to same-sex couples, Columbia, and the federal government formally the federal government would benefit by nearly 7 recognized marriages between same-sex $1 billion each year.
    [Show full text]
  • The Growth of Railroads Main Ideas Key Terms 1
    DO NOT EDIT--Changes must be made through “File info” CorrectionKey=TX-A Section 1 The Growth of Railroads Main Ideas Key Terms 1. Rail travel was faster and more reliable than other • transcontinental railroad forms of transportation in Texas. • junctions 2. Railroads brought trade and businesses to many towns. 3. The expansion of railroads led to the development of the Texas frontier. Why It Matters Today Railroads brought an economic boom to many towns. Use current events sources to learn about transportation in Texas today. TEKS: 6A, 6C, 8A, 9A, 9B, 11A, 12A, 12B, 20A, 20C, 21B, 21C, 21H, 22A The Story Continues On Christmas morning in 1871, hundreds of people gath- myNotebook ered outside of Austin. They hoped to get a glimpse of the Use the annotation first locomotive to enter the capital city. By mid- afternoon tools in your eBook to take notes on the the crowd had moved to the downtown terminal. Officials growth of railroad hammered in the last spike of the railroad line as Austinites Bleed Art Guide: transportation in All bleeding art should be extended fully to the bleed guide. Texas. cheered. The crowd celebrated the completion of the rail line connecting Austin with Houston and Galveston. New Railroad Lines Many Texans eagerly awaited the arrival of rail lines, hoping they would spur economic growth. The state’s economic development had been Art and Non-Teaching Text Guide: Folios, annos, standards, non-bleeding art, etc. should slowed by its transportation problems. Most Texas rivers were either too never go beyond this guide on any side, 1p6 to trim.
    [Show full text]
  • An Analysis of the Value of Texas Seaports in an Environment of Increasing Global Trade
    Technical Report Documentation Page 1. Report No. 2. Government 3. Recipient’s Catalog No. FHWA/TX-09/0-5538-1 Accession No. 4. Title and Subtitle 5. Report Date An Analysis of the Value of Texas Seaports in an Environment February 2008; Rev. October 2008 of Increasing Global Trade 6. Performing Organization Code 7. Author(s) 8. Performing Organization Report No. Peter Siegesmund, Jim Kruse, Jolanda Prozzi, Rene Alsup, 0-5538-1 Rob Harrison 9. Performing Organization Name and Address 10. Work Unit No. (TRAIS) Center for Transportation Research 11. Contract or Grant No. The University of Texas at Austin 0-5538 3208 Red River, Suite 200 Austin, TX 78705-2650 12. Sponsoring Agency Name and Address 13. Type of Report and Period Covered Texas Department of Transportation Technical Report Research and Technology Implementation Office January 2006–August 2007 P.O. Box 5080 Austin, TX 78763-5080 14. Sponsoring Agency Code 15. Supplementary Notes Project performed in cooperation with the Texas Department of Transportation and the Federal Highway Administration. 16. Abstract This study undertook an economic impact exercise for all Texas ports, updated a similar study done a decade earlier, and so assisted TxDOT with incorporating the most recent marine port impacts into their state transportation planning. The study was awarded to a joint CTR-TTI team but work did not begin until the scope was clarified by TxDOT, following concerns expressed by some members of the Texas Ports Association (TPA). Almost all the larger Texas ports had undertaken economic impact studies and were understandably concerned about any new study providing different answers.
    [Show full text]
  • The 1.8 Trillion-Dollar Economy of Texas Is the Second Largest in the United States, Second Only to California
    The 1.8 trillion-dollar economy of Texas is the second largest in the United States, second only to California. Therefore, it's no surprise that the state is home to 102 of the 1,000 largest public and private corporations in the United States. These corporations include AT&T, Dell, ExxonMobil, and JCPenney, all of which depend on a variety of business professionals to thrive. For example, AT&T needs people-oriented and relationship-driven account managers to develop and manage existing customer relationships and seek out new opportunities for business. Meanwhile, JCPenney and other major retailers in Texas can benefit from business analysts to assist with pricing strategy and other initiatives that can help maximize profit. And since the commercial banking industry has grown in Texas over the past few years, banking professionals such as commercial bankers, loan officers and tellers are also in high demand at Texas-based financial institutions such as USAA Federal Bank, Inwood National Bank, and Jefferson Bank. Whether you're planning to become a market research analyst, a human resource manager or an accountant, you can bring important support to the operations and growth of large and small organizations throughout the Lone Star State. And one of the most important steps to becoming one of these business professionals can be earning an accredited degree from one of the best business colleges in Texas. 3 Facts about Business in Texas Since the cost of living is affordable and there is no personal income tax, Texas has become home to an increasing number of startup companies.
    [Show full text]
  • Texas Cultural Trust
    Texas Cultural Trust 2019 State of the Arts Report Art Can A program of the Texas Cultural Trust The Arts Work for Texas The Texas Cultural Trust’s Art Can program conducts research and analyzes data to quantify the impact the arts have on Texas. The 2019 State of the Arts Report demonstrates the impact the arts have in shaping the cultural, economic, and educational future of Texas. To learn more about the research conducted by the Texas Cultural Trust see page 22, About the Research. About the Texas Cultural Trust The Texas Cultural Trust, a 501(c)(3) organization, was established in 1995 to be the leading voice for the arts in education, advocacy, and economic impact in Texas, spotlighting the artistic excellence of our state. 1 Letter from Texas Cultural Trust Board Chair 2 A great education provides children with the opportunity to achieve their personal best. I grew up in an area of Houston with excellent schools and outstanding programs in the arts. All Texans are not so fortunate. For schools with limited access to arts courses, the results can be measured in lower test scores, poor attendance, and higher dropout rates. In contrast, arts access can create a path to future opportunities in a variety of fields. Given all that Art Can do, all Texas children deserve the opportunity to be empowered through arts education. Making access to the arts a priority is the critical mission of the supporters and board members of the Texas Cultural Trust. In the following report, the Trust’s research demonstrates the importance of what Art Can do: higher student achievement, greater graduation rates, a powerful boost to the Texas economy, and preparation for a 21st century workforce.
    [Show full text]
  • House 099.Pdf
    Fort Worth Classic Guitar Society Arts Create - Year 2 $8,000 To advance the creative economy of Texas by investing in the operations of this arts organization. Arts Respond Education $1,500 To support educational presentations that teach about Texas music and history for Fort Worth-area K-12th grade students. Fort Worth Opera Arts Create - Year 2 $14,000 To advance the creative economy of Texas by investing in the operations of this arts organization. Arts Respond Education $3,000 To support educational opera performances for K-12th grade classes In the Fort Worth metropolitan area. Hip Pocket Theatre Arts Create - Year 2 $12,000 To advance the creative economy of Texas by investing in the operations of this arts organization. Arts Respond Education $1,000 To support Story Soup, a program that teaches 1st-3rd grade students to tell stories through theater. Imagination Celebration Fort Worth Arts Create - Year 2 $11,000 To advance the creative economy of Texas by investing in the operations of this arts organization. Arts Respond Education $1,500 To support arts integration training for pre-K level teachers in Fort Worth ISD. Arts Respond Performance Support $800 Artistic fee subsidy for Twice Upon a Time Storytellers to perform as early Fort Worth settlers as part of interactive workshops for 2nd graders in Fort Worth, September 16-30, 2014. Arts Respond Performance Support $225 Artistic fee subsidy for Le Theatre de Marionette to perform as an early Fort Worth resident in an interactive music and dance workshop for 2nd graders in Fort Worth, September 1-October 1, 2014.
    [Show full text]
  • An Economy at Risk: Our Vulnerable Coast and Its Importance to the Texas Economy
    An Economy at Risk: Our Vulnerable Coast and Its Importance to the Texas Economy December 2006 A study commissioned by IIAT Executive Summary Independent Insurance Agents of Texas (IIAT) commissioned the study produced by The Perryman Group in December 2006. The Texas Gulf Coast area serves as an economic engine for the entire state. • About 40% of Texas jobs are directly tied to its production categories. • 44% of the state's total income is linked to key Gulf Coast sectors. • The Port of Houston is one of the world's busiest ports in cargo volume and six Texas ports are ranked among the Top 50 in total tons. • Produces 87% of Texas and 25% of the nation's refined petroleum. Provides diesel fuel for High Plains agribusiness and jet fuel for Dallas- based airlines. • Regional economic success is directly linked to Gulf Coast industries, with critical dependence for output ranging from about 33% in the Upper Rio Grande Region to more than 56% in the Golden Crescent and Texoma regions. The Texas Gulf Coast, with its concentration of major industries crucial to the economic health of the state, merits affordable insurance rates because every part of the state depends on the region's productivity. • Major industries: Manufacturing, petroleum refining, petrochemicals, shipping and tourism among others. Effects of a Katrina-like storm would be catastrophic for the state's overall economy, not only the Gulf Coast. Losses would include: • $52.2 billion in gross state product • $43.8 billion in personal income • 617,000 jobs • $1.8 billion a year in fiscal revenue • As much as $450 million per year from premium tax offsets over an extended period If a storm hit the Port of Houston, an even larger percentage of regional economic activity would be at risk.
    [Show full text]
  • Lard, C., D. B. Willis, V. Salin, and S. Robison. 2002. Economic
    Texas Imported Fire Ant Research and Management Project Final Progress Report - October 2001 The Statewide Economic Impact of the Imported Fire Ant on the Economy of Texas—with Special Emphasis on the Urban Areas and Crop and Livestock Production Sector Principal Investigator(s): Curtis F. Lard Victoria Salin Department of Agricultural Economics Department of Agricultural Economics Texas A&M University Texas A&M University College Station, TX 77843-2124 College Station, TX 77843-2124 Phone: 979/845-4746; Fax: 979/862-1563 Phone: 979/845-8103; Fax: 979/845-6738 Email: [email protected] Email: [email protected] Co-Investigator: Inter-University Investigator: John Ellis David B. Willis Department of Agricultural Economics Dept. of Agricultural & Applied Economics Texas A&M University Texas Tech University College Station, TX 77843-2124 Lubbock, TX 79409-2121 Phone: 979/845-6095; Fax: 979/845-9769 Phone: 806/742-0277; Fax: 806/742-1099 Email: [email protected] Email: [email protected] Goals achieved and Major accomplishments to date: Fire ants in Texas have a tremendous economic impact on the various sectors of the economy. This scientific study has identified and quantified many of these impacts as presented in this report. This report gives the impacts by geographic area and sector, as well as urban and rural areas. Geographic Areas Fire ant damage in Texas is not distributed uniformly over the entire state. The statewide economic impact of fire ants was estimated by expanding the information obtained from the urban and agriculture studies across the affected counties in Texas. These surveys included urban sectors and rural sectors.
    [Show full text]
  • Texas Economic and Job Growth
    Oil and Natural Gas Stimulate Texas Economic and Job Growth Oil and natural gas are driving the U.S. economy through a major energy boom and that boom is rippling through the economy of Texas, supporting business activity across the state. This finding grows out of a new American Petroleum Institute survey of domestic oil and natural gas vendors,1 which offers $308.3 BILLION a glimpse into the job and business creation engine that is the current oil and THE INDUSTRY CONTRIBUTES natural gas industry. The survey shows that at least 11,033 businesses, spread across all 36 congressional districts in Texas, are part of the larger oil and natural TO TEXAS’S ECONOMY gas supply chain. The survey’s snapshot of state-by-state average annual salary in Texas across all activity reinforces the impressive level industries and sectors is $52,146, the of industry success throughout the average salary in the oil and gas industry country that is documented in a recent (excluding gas stations) is very significantly 1,938,700 PriceWaterhouseCoopers study conducted higher—$117,272 annually.3 Overall the for the American Petroleum Institute.2 The industry supports $308.3 billion of the study found that the oil and natural gas Texas economy. That’s 23.2 percent of the TEXAS JOBS industry in Texas supports some 1,938,700 state’s total economic activity. jobs, which is 13.6 percent of the state’s supported BY OIL AND total employment. The amount of Texas Texas ranks 1st in oil and 1st in natural gas natural GAS industry labor income supported by the oil and production.4 That makes it the nation’s top natural gas industry comes to $144 billion energy-producing state.
    [Show full text]