|Thriving Businesses In Texas|
| Of all the states in the country, Texas seems to be emerging from the latest recession with the fewest scars. Exporting more than $120 billion in merchandise in the first six months of 2011, Texas has far outperformed the 49 other American states. According to the U.S. Department of Commerce, 2011 has been a rough year for the majority of the United States, while Texas seems to only be growing bigger, adding both jobs and residents. Over 4 million people have moved to Texas in the past decade, and with economic numbers like these, it's no wonder!
Businesses across the spectrum are thriving in Texas because of its easy tax structure, its pro-business legislative climate, and its strong infrastructure. Lured by the promise of a thriving economy, low costs of living, and supportive tax policies, Texas is called home by some of the country's largest and most profitable companies in some of the fastest growing sectors.
Petroleum and Renewable Energy
Oil is not called Texas gold for nothing. With considerable petroleum deposits—about one quarter of the known U.S. reserves—many petroleum and energy companies are based in Texas. Companies like Exxon-Mobil, Valero, Conoco-Hillips, and Halliburton can all be found in Texas, and despite recent accidents like the drilling spill in the Gulf of Mexico, the companies are posting record profits. This all results in jobs, tax revenues, and prestige for Texas.
But energy profits are not limited to petroleum reserves. Texas is becoming a leader in renewable energy through its enormous Roscoe Wind Farm in west central Texas. With 627 wind turbines, the Roscoe Wind Farm has the largest energy capacity in the country. Currently Roscoe provides enough power for over 250,000 homes and royalty income for over 400 land owners. The project has revitalized the economy in otherwise stagnant communities in West Texas and will likely expand into others to take advantage of the extensive land reserves in Texas.
With several thriving smaller and some much larger technology companies, Texas is also fast becoming a technological epicenter. Nanotech companies such as LynnTech Inc, Molecular Imprints, and Zyvex have enjoyed the research grants and venture capital opportunities available in Texas. Larger technological companies such as Texas Instruments, Dell Computers, and AT&T also call Texas home, with both Texas Instruments and AT&T centered in Dallas, while Dell takes up residence in Round Rock, Texas.
Many retail companies have likewise come to call Texas home. Companies like Whole Foods, Kimberly Clark, and Men's Warehouse are just a handful of the businesses that have chosen to take advantage of the many opportunities of Texas.
With its low tax burdens, even more companies may soon be drawn to the Lone Star State. While the rest of the country struggles to find its feet, Texas seems to be standing taller every day.
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