Texas Gov. Greg Abbott is shedding light on the state’s bold initiative to establish a stock exchange that can stand toe-to-toe with Wall Street. In addition, he discusses the effects of the ongoing immigration crisis on job opportunities and his unwavering commitment to eradicating the Venezuelan gang known as Tren de Aragua from Texas.
According to the latest employment data from the Bureau of Labor Statistics, Texas emerged as the state with the highest job gains between September 2023 and September 2024, with an impressive addition of 327,400 jobs. California secured the second spot, having added 265,300 jobs over the past year, while Florida claimed the third position with 204,700 new job opportunities.
“Texas remains at the forefront as the powerhouse driving job growth in America,” stated Abbott. “Prominent businesses in the country are choosing to escape the burdensome regulations imposed by other states and are flocking to Texas to take advantage of its unmatched business opportunities.”
The Republican proudly declares that Texas boasts the most favorable business climate in the entire nation. Furthermore, he emphasizes that the number of employed individuals in Texas has reached an all-time high, with a current workforce of 15.4 million people.
Texas will soon start collecting data on noncitizen patients from hospitals across the state.
Since 2015, Governor Abbott has attracted a surge of companies relocating their headquarters to Texas. The state’s absence of personal and corporate income tax, coupled with its reputation for business-friendly regulations, has made it an enticing destination for businesses.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 260.48 | +46.83 | +21.92% |
In a report earlier this year, the New York Federal Reserve identified Texas as the top state for luring businesses to relocate from various parts of the country between 2010 and 2019.
During that period, Texas experienced significant relocation with over 25,000 establishments moving to the state. This relocation resulted in the creation of more than 281,000 jobs.
On the other hand, approximately 18,000 establishments left Texas, leading to a loss of around 179,000 jobs. Despite the outflow, Texas still achieved a net migration of 7,232 firms and a remarkable addition of nearly 103,000 jobs. These numbers make Texas the top state in the country in terms of job growth and business relocation.
Texas is a popular choice for businesses due to several factors. These include its business-friendly environment, which is characterized by low taxes and light regulation. Additionally, its central location within the continental U.S. makes it easily accessible to other parts of the country. Texas also benefits from a growing population and an abundance of energy resources.
Last week, the Texas Workforce Commission released the September employment data, revealing that Texas not only outpaced the rest of the U.S. in job growth over the past year, but also achieved new record highs in total job count, the number of employed Texans, and the overall size of the Texas labor force.
Texas has been at the forefront of population growth in the United States for the past 18 years. With a staggering $2.6 trillion economy, the Lone Star State proudly holds the title of the 8th largest economy in the world, surpassing renowned nations such as Russia, Canada, Italy, and Brazil.
For the past twelve years in a row, the Lone Star State has been the proud recipient of the Governor’s Cup, an esteemed accolade that recognizes the state with the highest number of new and expanded corporate facility projects in the entire nation. Additionally, according to Chief Executive Magazine’s annual survey of the most influential CEOs in the country, Texas has held the title of Best State for Business for an impressive twenty years running.
According to the change in real gross domestic product (GDP), Texas’ economy grew at a robust annual rate of 7.4% between 2022 and 2023, while the rest of the country experienced a more modest growth rate of 2.9% during the same time period.
Texas has seen a significant surge in job growth, with over 2.4 million new jobs added since Governor Abbott assumed office.
According to Adriana Cruz, Executive Director of the Governor’s Economic Development & Tourism Office, Texas has achieved remarkable success in job creation, consistently setting new records. She emphasizes that when businesses thrive, it benefits all Texans.