When it comes to job creation, the Lone Star State is in a league of its own. Since 2000, Texas has added more than 2.1 million jobs. This rate of growth is more than double any other state, and represents more than 30 percent of the total number of jobs in the country, according to Moody's Analytics.
The policies of Governor Rick Perry are widely credited with helping to promote this impressive growth. Perry assumed office when George W. Bush became the 43rd president, and made job creation a main focus of his administration. Although set to retire in January, Perry has enjoyed the tenth longest gubernatorial tenure in U.S. history.
Of course, Perry's administration also witnessed the resurgence of the Texas oil industry, reinvigorated with new drilling, production and transportation techniques that drastically improved output.
"Texas has done well primarily because it is an energy center. You really can't get around that," Edward Friedman, an economist who tracks Texas for Moody's Analytics, told Forbes. "Every major energy and oil company has realized over the last 15 years that the only place to be is Houston."
The Texas economy, currently valued at over $1.5 trillion, is expected to continue its current success. Experts project it to expand 4.1 percent annually over the next five years. The state's pro-business policies and ready supply of labor have also attracted major players from other industries, such as Toyota, which plans to build a new productions campus in Plano.
As organizations prepare for continued growth, Houston project management consulting can help ensure that teams are aligned to long-term goals.