The Texas economy has enjoyed healthy, steady growth and the Lone Star State is widely recognized as a wonderful place to live and do business. There is no shortage of jobs and opportunities to support the growing population and increased economic interest here. Recent projections indicate that the Texas economy will continue its upward trend, with no sign of slowing. Click To Tweet
Texas Economic Outlook: Industries
Texas has long been known as the capital of oil and gas in the United States, but with so many other booming industries, there are opportunities everywhere.
The oil and gas industry in Texas has one of the highest job growth numbers in the country. Baker Hughes North American rig count for 2018 shows that Texas has over 500, which is 100 more last year and well above that seen in 2016. This level of drilling operations supports strong hiring in the industry, but also creates a ripple effect of hiring in related industries.
Texas has an incredibly diverse manufacturing economy. The resources available here make it a natural leader in petroleum and chemical manufacturing, with research institutions fostering computer and other high-tech manufacturing and its business-friendly environment and skilled labor nurturing a booming automotive manufacturing sector.
Small business owners everywhere are trying to find the best place to branch out or open a new location. Countless articles, reports and surveys tout Texas as the best state in the country to open a small business. Texas offers robust zoning laws, a largely deregulated economy, highly skilled workforce, and economic forecasts showing limitless growth prospects. These factors combine to foster an environment seemingly made to support small businesses.
In 2016 alone Texas welcomed 400,000 new residents, the largest population increase in the country. With no signs of slowing, all these new people need somewhere to live. This increased demand, paired with Texas’ relatively low median home prices mean that the real estate industry is healthier than ever.
Texas is home to some of the biggest hospitals and healthcare systems in the country. With 3 of the top 10 most populated cities in the United States all in one state, there is no shortage of patients. Based on employment and earnings, the healthcare industry has grown into one of the largest sectors in Texas.
A Great Time to Set Up Shop
Current projections show the Texas economy surpassing the rest of the country within the next few years, making it a great time to open a business here, or expand your existing venture. With the necessary raw materials and growing population to support employment needs, there is a clear opportunity for personal prosperity for decades to come.
Your Office Machine Supplier
Platinum Copier Solutions has worked with a variety of organizations and businesses in Texas, from small startups to historic universities. With a stellar reputation for service and care, we’ve become the state’s premium Sharp office equipment dealer.
Contact Us to talk to an expert that can help you find the right office copiers or equipment to facilitate your success and growth.