Texas Gov. Greg Abbott weighs in on the state's stock exchange business, which rivals Wall Street, the impact of the immigration crisis on jobs, and the state's pledge to eliminate the Venezuelan gang Torren de Aragua in the state. I will explain in detail.
Texas Governor Greg Abbott New data shows the Lone Star State has led the nation in job creation over the past year, marking a victory for the state.
Texas had the largest job increase of any state from September 2023 to September 2024, adding 327,400 jobs, according to employment figures released this week by the Bureau of Labor Statistics. California was in second place, adding 265,300 jobs over the past year, followed by Florida in third place with 204,700 jobs.
Texas Governor Greg Abbott gestures at the Republican National Convention at the Fiserv Forum in Milwaukee on July 17. (David Paul Morris/Bloomberg via Getty Images/Getty Images)
“Texas continues to dominate as America's employment engine,” Abbott said in a statement. “Major American companies are fleeing the stranglehold of other states' overregulation in search of competitive business advantages found only elsewhere. in texas. ”
The Republican touted Texas' business climate as the best in the nation, saying more Texans are working than ever before in the state's history. Texas' workforce is currently 15.4 million people.
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During Mr. Abbott's tenure as governor, which began in 2015, there has been an influx of companies relocating their headquarters to the state. The state has no personal or corporate income tax and touts its business-friendly regulations.
Several major companies have fled high-tax states and relocated their headquarters to Texas in recent years, including Oracle and Caterpillar, as well as Elon Musk's Tesla, SpaceX and social media platform X.
Several major companies, including Tesla, have moved their headquarters to Texas in recent years. (Thomas Allison/Bloomberg via Getty Images/Getty Images)
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| TSLA | Tesla Inc. | 288.81 | +37.37 |
+14.86% |
they are not alone.
Texas led the nation in attracting companies relocating from other parts of the country from 2010 to 2019, according to a report released earlier this year by the New York Federal Reserve.
More than 25,000 facilities moved to Texas during this period, bringing more than 281,000 jobs. This offsets the loss of 18,000 businesses leaving the state, resulting in the loss of approximately 179,000 jobs. In total, Texas experienced net relocation of 7,232 companies and an increase of approximately 103,000 jobs. This is the highest number among any other state in the country.
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According to the report, Texas is attractive to businesses because of its business-friendly environment, including low taxes and lax regulations, its central location in the continental United States, its growing population, and abundant energy resources. Examples include.
Aerial view of the downtown Dallas skyline on February 22nd. (Kirby Lee/Getty Images/Getty Images)
Last week, the Texas Workforce Commission released September employment data showing that not only has Texas added jobs faster than the entire United States over the past 12 months, the state has increased the number of total jobs, It showed the number of Texans, setting a new record for the entire state. The size of Texas' workforce.
Texas has led the nation in population growth for the past 18 years. The state's economy is valued at $2.6 trillion, making it the eighth largest economy in the world based on 2023 GDP, surpassing countries such as Russia, Canada, Italy, and Brazil.
The Lone Star State has also won the Governor's Cup, which honors the nation's most new and expanded corporate facility projects, for a record-breaking 12 years, and is ranked the best state for business by America's annual Top CEOs. has been. A survey by Chief Executive Magazine broke records for the 20th consecutive year.
As measured by the change in real gross domestic product (GDP) from 2022 to 2023, Texas' economy expanded at an annual rate of 7.4%, while the nation's economy expanded at 2.9%.
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And as of late last month, Texas had added more than 2.4 million jobs since Mr. Abbott took office.
“Texas' unprecedented success in job creation continues to break records time and time again,” said Adriana Cruz, Executive Director of the Governor's Office of Economic Development and Tourism. “When business succeeds, all Texans succeed.”
FOX Business' Eric Revell contributed to this report.
