Monday, November 1, 2010

Texas Leads States in Economic Health

Guest Blogger: Drew DeBerry, Deputy Agriculture Commissioner

It seems hardly a day goes by where I don't find some mention of Texas in the news for being a frontrunner in the nation’s economy.

Most recently, the Texas economy received national accolades for its employment. National Review Online reported last week, "more than half of the net new jobs in the U.S. during the past 12 months were created in the Lone Star State."

And last month, Meredith Whitney, a noted financial analyst known for predicting the national banking crisis, named Texas the national leader in state financial health. Whitney’s 600-page report on the condition of state governments titled “Tragedy of the Commons: Launching Ratings on the Top 15 States” says only Texas and Virginia earned overall positive rankings among the 15 largest states.

In an interview on CNBC, Whitney said, “The best state is actually Texas, by a mile.”

You can read Fortune Magazine’s coverage of her report here. You can watch her interview on CNBC here: (Texas discussion begins at about 3:45.)

And finally, within our great state, sales tax collections are definitely pointing in the right direction. In September, the state reported sales tax collections increased by nearly 7 percent compared to a year ago.

While all of this national recognition is welcome and appreciated, the real benefit to all Texans is the fact that our economy is truly ahead of the curve.

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