Texas Economy: The Best In The U.S.?

By: Adam Fox Email
By: Adam Fox Email

When it comes to making money, Texas is pretty good at it and according to Texas Comptroller, Susan Combs, the state the best economy in the nation.

If Texas were a separate country, Combs said, the economy here would rank just shy of the top ten list worldwide.

"If we were our own country we'd be the 12th largest economy in the world we're really very diverse," Combs said.

Combs credits part of that to the high number of jobs created in Texas.

Between January 2007 and January of 2008 more than 150,000 jobs were created in Texas.

Two thousand of those were in Waco during that time period.

"If you look at the growth that we have had using other data it would suggest that we're getting our share or more of the jobs created in Texas," said Jim Vaughn, of the Greater Waco Chamber of Commerce.

And when Texans get a paycheck, they like to spend it, Combs said.

"Our consumer confidence is actually very very high, so almost the highest in the country, that doesn't mean that we're not apprehensive about going forward but it's still very very good," Combs, said.

Part of that apprehension comes from gas prices, which average just less than $4 a gallon.

But Combs is less worried about the state’s housing market.

Compared to the rest of the nation, Texas still looks pretty good, she said.

"We didn't get over heated, our prices never got out of control so families could move into homes without having to get sort of tortured mortgage arraignments," Combs said.

To make sure people can pay for gas and keep their homes, the Comptroller's Office, created, Texas Ahead, a new website that will help business owners see how they would fare in particular cities should they choose to relocate or open a new facility.

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