Texas State (U.S.A.), a thriving state, a land of technology, science, education, natural resources, Agriculture and mining
Texas is at
the core all the thriving excitements in U.S.A. With its
growing market of + 27 million consumers, as of 2014, Texas had a gross state product (GSP) of $1.648 trillion, the
second highest in the U.S. Its GSP is
greater than the GDPs of Australia and South Korea, which are the world's
12th- and 13th-largest economies, respectively.
In 2010, Site Selection Magazine ranked Texas as the most business-friendly state in the
nation, in part because of the state's three-billion-dollar Texas
Enterprise Fund.
In 2010,
there were 346,000 millionaires in Texas,
constituting the second-largest population of millionaires in the nation.
Texas has a
"low taxes, low services" reputation. According
to the Tax Foundation, Texans' state and local tax burdens rank among the
lowest in the nation, 7th lowest nationally; state and local taxes cost $3,580
per capita, or 8.4 percent of resident incomes. Texas is one of seven states
that lack a state income tax.
Texas has
the most farms and the highest acreage in the United States. The state is ranked #1 for revenue generated from total livestock and
livestock products. It is ranked #2 for total agricultural revenue, behind
California.
Beef cattle
production represents the largest single segment of
Texas agriculture. This is followed by
cotton, greenhouse/nursery, broilers, and dairy products.
Texas leads
the nation in the production of cattle, horses, sheep, goats,
wool, mohair and hay. The state also
leads the nation in production of cotton which is the number one crop grown
in the state in terms of value.
The state
grows significant amounts of cereal crops and produce. Texas has a large commercial fishing industry. With mineral resources,
Texas leads in creating cement, crushed stone, lime, salt, sand and gravel.
If Texas were its own country it would be the sixth largest oil producer in
the world.
The Railroad Commission of Texas, contrary to its name, regulates the state's oil and gas industry,
gas utilities, pipeline safety, safety in the liquefied petroleum gas industry,
and surface coal and uranium mining.
The Baytown
Refinery in the Houston area is the largest refinery in
America. Texas also leads in natural gas production, producing one-fourth of
the nation's supply. Several petroleum
companies are based in Texas such as: Anadarko Petroleum Corporation,
Conoco-Phillips, Exxon-Mobil, Halliburton, Marathon Oil, Tesoro, and Valero,
Western Refining.
Unlike the
rest of the nation, most of Texas is on its own
alternating current power grid, the Texas Interconnection. Texas has a deregulated electric service. Texas leads the nation in
total net electricity production, generating 437,236 MWh in 2014, 89% more MWh
than Florida, which ranked second. As an independent nation, Texas would rank as the world's
eleventh-largest producer of electricity, after South Korea, and ahead of
the United Kingdom.
The state is
a leader in renewable energy commercialization; it
produces the most wind power in the nation. The state also has the highest
solar power potential for development in the nation.
With large
universities systems coupled with initiatives like
the Texas Enterprise Fund and the Texas Emerging Technology Fund, a wide array
of different high tech industries have developed in Texas. The Austin area is nicknamed the "Silicon Hills" and the
north Dallas area the "Silicon Prairie".
The National
Aeronautics and Space Administration's Lyndon B. Johnson Space Center (NASA
JSC) located in Southeast Houston, sits as the crown jewel of Texas's
aeronautics industry.
Texas's affluence stimulates a strong commercial sector consisting of retail, wholesale, banking and
insurance, and construction industries.
Mexico, the state's largest trading partner, imports a third of the state's
exports because of the North American Free Trade Agreement (NAFTA).
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