texas border operations
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AUSTIN – Governor Greg Abbott today celebrated that Texas’ economy will expand faster than the nation in 2023 following the release of data from the Bureau of Economic Analysis (BEA). As measured by the change in real gross domestic product (GDP) from 2022 to 2023, Texas’ economy expanded at an annual rate of 7.4%, while the nation’s economy expanded at 2.9%.
“Thanks to a great business environment and America’s strongest workforce, Texas’ economy continues to expand,” Governor Abbott said. “Texas is a state of limitless opportunity, a place where innovation thrives and hard work pays off.As the world’s eighth largest economy, we’re excited to share why more people and businesses are calling Texas home and It’s easy to see why more Texans are employed than at any time in our state’s history. Through continued investment in workforce training, innovation, education, and infrastructure, we are here to stay. We will continue to build a bigger and better Texas for years to come.”
BEA data also shows that the size of Texas’ economy, measured in 2023 current dollar GDP, has expanded from $2.4 trillion in 2022 to $2.6 trillion now.
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Gov. Abbott defended Texas’ success in attracting job-creating economic development projects across the state and in the Rio Grande Valley during a fireside chat Tuesday at the South Texas Cities League quarterly meeting in McAllen. did. And earlier this month, the governor praised Texas as a national employment leader following the release of the August jobs report showing a surge in Texas employment. Texas led all states in monthly and annual job gains, and also set new records for total employment, number of Texans working, and size of Texas’ workforce.
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