comptroller seal Texas Comptroller of Public Accounts

FOR IMMEDIATE RELEASE

August 14, 2017

Texas Comptroller Kicks Off Tour of Texas Manufacturing Plants with Visits to Central Texas Cities

(AUSTIN) — Texas Comptroller Glenn Hegar kicked off a tour of Texas manufacturing plants today with visits to Samsung in Austin and TECO-Westinghouse Motor Company in Round Rock. During his Good for Texas Tour: Manufacturing Edition, Hegar will tour facilities, meet with local officials and release the results of a study the Comptroller's office recently completed examining the economic impact of the manufacturing industry.

"Texas has an extraordinary manufacturing economy," Hegar said. "The state's resources make it a natural leader in petroleum and chemical manufacturing, our research institutions have fostered computer-related and other high-tech manufacturing, and our business-friendly environment and skilled labor force have helped create a dynamic automotive manufacturing sector."

The computer and electronics subsector, which includes Samsung, is responsible for $47.1 billion in annual exports from Texas and more than 300,000 direct and indirect jobs, and contributes $28.6 billion to the state's gross domestic product (GDP).

"This subsector offers high-paying jobs and provides a considerable portion of the state's exports," Hegar said. "It is, by far, our fastest growing in terms of economic activity, increasing by 584 percent in the last 20 years, and averaging an annual growth rate of 11.3 percent."

The electrical equipment, appliance and component subsector, which includes TECO-Westinghouse, accounts for $11.7 billion in annual exports and more than 45,000 Texas direct and indirect jobs, and contributes $2.5 billion to the state's GDP.

"This subsector comprises several innovative and advanced industries that offer above-average wages," Hegar said.

In all, Texas manufacturers were responsible for 3 million direct and indirect jobs in 2016. The average annual salary for direct jobs is nearly $75,000. In 2016, Texas manufacturers exported $210.3 billion in goods and contributed $225.8 billion to the GDP.

For more information on the tour, including in-depth Texas manufacturing data, visit the Comptroller's website.