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.
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