Texas Comptroller of Public Accounts
FOR IMMEDIATE RELEASE
November 7, 2017
(SAN ANTONIO) — On the Central Texas stop of his Good for Texas Tour: Manufacturing Edition, Texas Comptroller Glenn Hegar today visited Continental Automotive Group in Seguin and DPT, a Mylan company, in San Antonio.
During his tour, Hegar is visiting facilities, meeting with local officials and sharing the results of a study the Comptroller’s office recently completed examining the economic impact of manufacturing in Texas.
Texas’ automobile-related manufacturing subsector is responsible for $13.7 billion in annual exports, about 106,000 direct and indirect jobs and $13.9 billion in contributions to the state’s gross domestic product (GDP).
“Automobile-related manufacturers face some challenges because demand for motor vehicles fluctuates and is highly dependent on general economic conditions as well as consumer confidence, personal discretionary spending, interest rates and credit availability,” Hegar said. “But these industries have been expanding rapidly in Texas, particularly since the end of the Great Recession.”
Texas’ chemical product manufacturing subsector, which includes DPT, is responsible for $36.6 billion in annual exports, about 320,000 direct and indirect jobs and $55.5 billion in contributions to the state’s GDP — more than any other manufacturing subsector in the state. DPT specializes in manufacturing high quality medications, such as creams, ointments, aerosols, foams, gels, suspensions and liquids, and is helping deliver better health around the world and throughout Texas.
“This manufacturing subsector is tied to many end-use consumer products,” Hegar said. “Many industries in this subsector are considered ‘advanced industries,’ with high spending on research and development and large numbers of workers with scientific and technical knowledge.”
In all, Texas manufacturers supported 3 million direct and indirect jobs in 2016, as well as $210.3 billion in exports and $225.8 billion in GDP. The average annual salary for direct jobs is nearly $74,000.
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