Event Recap: A Case for Texas Excepetionalism

On September 8, our Senior Fellow Pia Orrenius and our Research Fellow Madeline Zavodny presented their latest research findings on why Texas is exceptional when it comes to business formation, job creation and migration.

Texas has consistently exceeded national growth rates; its GDP growth has averaged 3.6 percent versus 2.5 percent for the rest of the country. Part of this growth has been driven by migration and a favorable business climate.

However, in this study, Texas stood out as truly exceptional when it came to the rate at which new businesses are formed as well as its outmigration level. Calling it the “stickiest state,” our experts explained some of the factors that have helped people stay in Texas more than other people do in other states. They also showed how Texas is an outlier when it comes to business formation: it has a higher business entry rate than the rest of the country.

How much longer will this trend continue? This is what our experts are starting to ask themselves. They are already starting to see a downward trend in the business formation rate. On top of that, the amount of people retiring continues to grow. They suggest looking towards international immigration to keep Texas’ growth and concluded that comprehensive immigration reform is needed.

If you missed the event, you can watch it here.

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