July 29, 2024

Fiscal Notes: Discover Texas’ 12 Economic Regions

(AUSTIN) — In the latest Fiscal Notes, Comptroller researchers share what makes Texas’ regional economies tick, using location quotient (LQ): comparing an industry’s size in a particular area (based on employment) with its size in the national economy. 

There were expected results, such as a heavy concentration of cattle ranching and farming in the High Plains and oil and gas activity in West Texas. But other results were surprising.

In the Southeast, the Petroleum Products Manufacturing industry has an LQ more than 23 times the national average. The Motor Vehicle Body and Trailer Manufacturing industry in the Upper East has an LQ that is more than eight times the national average.

“Our state may be best known for its oil and gas mining or farming industries, but we have a diverse mix of other industries that have enabled our economy to grow faster than the nation’s for many years,” Texas Comptroller Glenn Hegar said. “Texas is ideally situated in the heart of the country and provides a myriad of transportation and logistics solutions for a wide range of businesses and industries. And our business-friendly tax and regulatory climate make Texas an extremely attractive place for companies looking for a dynamic state where they can grow and thrive.”

This month, Fiscal Notes also includes Hegar’s call for infrastructure resiliency following Hurricane Beryl and a look at the innovative role Austin-based Army Futures Command plays in military technology.

Fiscal Notes provides information, original research and balanced analysis on the Texas economy. It’s one of the ways the Comptroller's office strives to assist and inform taxpayers and the people of Texas. Fiscal Notes content is an extension of the Comptroller's constitutional responsibilities to monitor the state's economy and to estimate state government revenues.

Articles and analysis appearing in Fiscal Notes do not necessarily represent the policy or endorsement of the Texas Comptroller of Public Accounts. Space is devoted to a wide variety of topics of Texas interest and general government concern.

Fiscal Notes is available online and can be received by subscribing via the Comptroller's website.