The economy of Texas is one of the largest and most rapidly growing economies in the United States. As of 2011, Texas is home to six of the top 50 companies on the Fortune 500 list and 51 overall, (third most after New York and California). As the largest exporter of goods in the United States, Texas currently grosses more than $100 billion a year in trade with other nations.
In 2011,Texas had a gross state product of $1.332 trillion, the second highest in the U.S. Texas's household income was $48,259 in 2010 ranking 25th in the nation, below the national average, though the ranking does not factor in the state's lower-than-average cost of living.
Read more about Economy Of Texas: History, Exports, Taxes, Wealthiest Places in Texas
Famous quotes containing the words economy of, economy and/or texas:
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“Worn down by the hoofs of millions of half-wild Texas cattle driven along it to the railheads in Kansas, the trail was a bare, brown, dusty strip hundreds of miles long, lined with the bleaching bones of longhorns and cow ponies. Here and there a broken-down chuck wagon or a small mound marking the grave of some cowhand buried by his partners “on the lone prairie” gave evidence to the hardships of the journey.”
—For the State of Kansas, U.S. public relief program (1935-1943)