Texas is big – and getting bigger. Thanks to our unrivaled quality of life and business environment, Texas has continued to lead the nation in population growth. And despite nationwide labor and supply chain challenges, Texas’ economy continues to grow at a rapid clip. But when you’re at the head of the pack, you’ll always have a target on your back. If Texas is going to maintain our competitive edge, now is the time to organize for success. Here’s how:
Invest in Infrastructure
The American Society of Civil Engineers graded Texas’ infrastructure a “C.” And that’s despite having four different areas, including highways and roads, graded “D.” We have to do better. Our state infrastructure serves as the backbone on which innovators and entrepreneurs build successful businesses that create good jobs. With billions available in federal infrastructure funds, we can expand and improve our statewide infrastructure in ways that will keep our economy moving.
Plan for the Future of Energy
Texas produces 429.8 Twh of power every year, including over 1.7 billion barrels of oil – nearly a third of the national total. Energy doesn’t account for all of Texas’ economy, but it certainly fuels a large part of it. That includes about 2.5 million Texas jobs and about 20 percent of Texas public school funding. As we’ve seen, global market volatility can put those jobs, and our state budget, at risk.
The Texas Legislature took a crucial step this year towards mitigating some of that risk. And there’s more that we can do to make sure we remain a global energy leader. These include exploring innovative new technologies like carbon capture, hydrogen-fueled energy, and geothermal power generation that offer more jobs, more investment, and more economic growth.
Organizing For Success
Texas has a big head start on the competition, and we took meaningful action during this year’s Legislature to prepare ourselves to continue our success. But our work isn’t done. To maintain our position at the head of the pack, we need to keep our eye on emerging economic developments so we can plan and prepare for what’s ahead.
At Texas 2036, we’re focused on what’s ahead, gathering the data and expertise necessary to ensure Texas is always organized for success.