In ‘The Next Economy,’ a special joint effort by the National Journal and the Atlantic, Texas earned special praise for its economic strength.
Who Will Lead The Recovery? Start With Texas
Sept. 11, 2010
By Josh Freedman
"...when it comes to predicting what place will lead the country to a solid economic recovery, forecasters are all on the same page: Nobody's messing with Texas.
Although the economy has slowed in recent months, the prospects for a robust recovery are still looking up for the Lone Star State. Texas gained 14,000 jobs in June even as employment fell in 27 other states, according to the Bureau of Labor Statistics. That brought Texas's total for the first half of 2010 to 178,700 -- more than twice that of any other state.
The spot highlights the economic success Texas is experiencing because of the leadership and pro-growth policies put into place by Governor Rick Perry.
The keys to success? Don't spend all the money. Keep taxes low. Keep regulations fair and predictable. Tort reform to prevent frivolous and junk lawsuits. Fund an accountable education system. Then get out of the way and let entrepreneurs and the private sector do what the private sector does best-- create jobs. Since 2005, Texas has created far more private-sector jobs than all over states combined.
As the Governor continues traveling the state, bringing his positive message directly to Texans, the momentum and excitement of our campaign continues to get stronger every day.
Nationwide recovery lost steam in late summer, Fed survey says
The economy lost strength in late summer as factory production weakened in areas of the East Coast and Midwest, the Federal Reserve reported Wednesday. The central bank's "Beige Book" survey found the slower growth spreading to more regions of the country.
Of the 12 regions the Fed tracks, economic activity slowed or was mixed in five — New York, Philadelphia, Richmond, Va., Atlanta and Chicago. Activity elsewhere was described as modest or pointed to positive developments. In the Fed's previous survey in late July, only two regions had reported slower growth.
Texas economy still growing, survey by Dallas Fed reports
The economy in Texas and parts of two neighboring states "expanded modestly over the past six weeks," according to a report from the Federal Reserve Bank of Dallas.
New TEF Investment Bringing 100 New Jobs to Baytown
Gov. Rick Perry today, at a press conference announcing a $675,000 Texas Enterprise Fund (TEF) investment in Tapco International, Inc., credited Texas’ low taxes, reasonable and predictable regulatory climate, educated workforce and investments through the TEF with helping attract jobs and businesses to the state. The company is creating a new manufacturing facility in Baytown, which will create 100 jobs and generate an estimated $26 million in capital investment.
“Today, we break ground on a facility, part of TapcoEnpro’s capital investment in Baytown and Chambers County, that will soon be filled with workers producing equipment for our state’s vibrant energy sector,” said Gov. Perry. “Thanks to investments like the Texas Enterprise Fund, this new manufacturing facility will help enhance TapcoEnpro’s already strong reputation as producers of quality technology.”
“We are pleased that TapcoEnpro has chosen to build their new facility in Baytown, creating good jobs for Texans in this area,” said Roberto De Hoyos, director of the Texas Enterprise Fund. “The Texas Enterprise Fund continues to attract great companies like this one to our state, and in turn, Texas continues to reap the benefits from their commitment to job creation which enriches the local and state economies.”
Under Gov. Perry's leadership, Texas has outpaced every other state by leaps and bounds in job creation this year and over the past decade. No other state can boast more Fortune 500 company headquarters than Texas with its low-tax, low-regulation, business-friendly economic climate. Texas is consistently applauded as a model for good government and good fiscal policy, even in the wake of a national recession.
Last week, Gov. Perry was proud to announce the creation of about 300 new jobs in the San Antonio area by a Fortune 500 giant. BD (Becton, Dickinson and Company) noted Texas' skilled workforce and stalwart academic institutions as a few reasons it relocated to Texas.
"Bill White’s call for tax increases is the last thing working families of Texas need in these challenging economic times.
“Transportation, border security and education are just some of the issues that will be a priority in the next state budget. However, just as families have to prioritize spending to make ends meet, so too must their government.
“The people of Texas expect their elected officials to reduce spending and practice fiscal responsibility, not raise taxes in search of additional revenues. I will continue to work with the legislature to identify ways to cut taxes so families can keep more of their hard-earned dollars and keep the Texas economy the envy of the nation.”
There is a clear choice in this race. Choose Governor Perry, not tax hikes.
Just twelve weeks remain until November 2. In another dynamite web video from the Republican Governors Association, Governor Perry and his fellow state leaders from around the country make the case for fiscally conservative governance:
On Twitter, follow @The_RGA for updates from the Republican Governors Association, and follow @GovernorPerry for updates straight from Rick Perry.
"Blueprint for Recovery: Deep in the Heart of Texas," a web video based on economic figures from nearly a year ago, highlights some of the ways in which Texas is leading the nation, even in these tough economic times. Indeed, it may be even more relevant today:
Nearly a year later, Texas remains the blueprint for America's recovery.
Facts you probably won't hear President Obama mention while he is in the Lone Star State today raising money for Liberal Trial Lawyer Bill White...
* CNBC has ranked Texas America’s Top State for Business, based on their study that scored each state based on 40 different measures of competitiveness. Texas received more points than any other state based on categories including: cost of doing business, workforce, economy, education, quality of life, technology and innovation, transportation, cost of living, business friendliness, and access to capital. (CNBC, July 2010)
* Texas’ major metro areas – Austin, Dallas/Ft. Worth, Houston and San Antonio – were named as America’s Recovery Capitals on a list compiled by Forbes. “Looking for a place to take advantage of the recovery?” Forbes asks. “Try Texas.” (Forbes, June 2010)
* Texas created more private sector jobs than any other state in the nation over the last 10 years. Texas also has the lowest unemployment rate among the 10 largest states in the nation. Additionally, since the beginning of 2010, Texas has created more total new jobs (and more private sector jobs) than any other state in the nation. (U.S. Bureau of Labor Statistics, May 2010)
When the House convenes today in a special session to vote on a $26 billion package of aid funds for state and local governments, it will have to decide whether to single out one state — Texas — for special treatment. This is not the kind of special treatment that we’re used to seeing in Washington, where senators often secure extra benefits for their states in return for their votes. Instead, Democrats are trying to punish Texas for its fiscal responsibility, above and beyond the punishment inherent in a “state bailout” that is intended mostly to help spendthrift states such as California, but that Texas taxpayers must help pay for nevertheless.
The provision in question, an amendment authored by Rep. Lloyd Doggett, an Austin Democrat, would deny Texas its share of the bill’s education funds unless its governor “provides an assurance” that it will not reduce the percentage of total revenues it spends on education at any time in the next three years. Gov. Rick Perry argues that this is impossible: The state legislature controls education funding in Texas, not the governor, and the governor cannot bind future legislatures to any level of spending. Because Perry cannot provide the kind of assurance the Doggett amendment appears to require, he argues that it would deny Texas, and only Texas, over $800 million in education funds.