Economic Development

A spokeswoman for Texas governor Rick Perry, who has bitterly opposed much of the president’s domestic agenda, tells National Review that the governor welcomes the president’s visit. “If President Obama is serious about getting our nation’s economy working again, then he’s come to the right place,” says Perry spokeswoman Lucy Nashed. “Texas’ success didn’t happen by accident – it’s a result of policies put in place under Governor Perry’s leadership with a laser focus on making Texas a beacon of economic freedom.”

The Lone Star State makes a triumphant return as America’s Top State for Business—its third time at the top of our rankings.

If you don't believe Reaganomics can still work in this day and age, for whatever reason, I say you should look no further than the state of Texas.

Under the leadership of Gov. Rick Perry, Texas has championed and built upon the concepts my father used to rebuild America in the 1980s.

The results, again, are unassailable.

Over the decade between April 2001 and April 2011, more than 730,000 private-sector jobs were created in the Lone Star State. During that same stretch of time, the next-best state added just over 90,000 and the nation as a whole lost 2.2 million.

Between 2001 and last June, Texas — a right-to-work state that taxes neither personal income nor capital gains — added more jobs than the other 49 states combined. And since the recovery began two Junes ago, Texas has created 37 percent of America’s net new jobs.

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.

The dramatic realignment of the nation's economy was illustrated by North Carolina, Virginia and Georgia all overtaking one-time industrial powerhouse Michigan in economic size from 2000 to 2010. The economic winners of the last decade are states that focus on raw materials, government and senior citizens. The big losers are places that make things — industrial states and even California.

USA TODAY examined each state's gross domestic product to determine how the country's economic output has shifted within its borders. The data, recently released by the Bureau of Economic Analysis, reflect both population growth and income increases — in short, the economic weight of each state.