Tuesday, June 21, 2011

Texas IS just like China---well, in this one regard anyway...

Texas one of the fastest growing states in the last ten years in terms of Gross State Product (GSP)---the dollar value of the production of goods and/or services. We are number 2 behind California, but are likely to surpass them in the near future.

For those of you who have lived in Texas a relatively long time, how many people do you know that recently came here from one of the states shown below as a "loser". As a teacher this subject comes up frequently.  When I ask students if they moved to Texas sometime during their lifetime to raise their hands, I usually get a 30% to 40% affirmative response. The reason?---business relocation and jobs. 

Texas produces $1 Trillion in GSP--that is roughly 1/14th of the total US Gross Domestic Product (GDP).  That is a lot of "stuff"....

Texas wins in U.S. economy shift


""Texas became the USA's second-largest economy during the past decade — displacing New York and perhaps heading one day toward challenging California — in one of the biggest economic shifts in the past half-century...."
 
"...Texas notched one of the biggest increases in size in a half-century, surpassing $1 trillion in annual economic output. The state gained nearly a full percentage point in its share of the U.S. economy during the decade, reaching 8.3% in 2010. This growth in economic clout has been matched only twice in the past 50 years — by California in the 1980s and Texas itself during the 1970s oil boom.""'

What does Texas produce? 
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