Tuesday, July 24, 2012

Texas Today: Strong Business Environment And Innovation Spurs Jobs - Lone Star Strong

Steve Stackhouse presents an interesting commentary on the recent findings of job rates in Texas. Targeting average Texas citizens, Area Development writer Stackhouse appears to inspire hope that Texas' economy can still prevail despite the national recession. To fuel this inspiration, Stackhouse claims that Texas tops the charts in job creation, followed by Alaska, Louisiana and North Dakota since 2008. Evidence is cited by ON NUMBERS, adding credibility to the 140,000 job addition claim. Stackhouse conveniently offers additional non-statistical information from Larry Gigerich, managing director at Ginovus. Gigerich reports that Texas' "excellent business climate has created more opportunities for Texas to compete for projects." Reflecting on the previous studies of this class, Texas diverse economy, notably oil, has spurred its generous employment rate. Innovation in oil refining and boasting two of the world's largest wind farms allows Texas to compete in an ever changing world market. Dallas suburbs itself produced 24,000 jobs. Stackhouse then provides a diverse list of sources that contain detailed accounts of Texas' success. Overall, the recurring theme appears to be Texas' diversity. Gigerich provides further support, which seems very credible, that Texas' tax structure, bilingual work force, large population, labor costs, and several other factors contribute to Texas' success. One point that could use further elaboration is the lack of corporate income tax Texans. This is true, but Texas also has an incredibly high property tax rate; something that is not mentioned at all. Regardless, Stackhouse makes plenty of detailed points defending Texas' successful economy, especially one that's unemployment rate is one full percentage point lower than the nation's. Stackhouse's commentary seems highly credible due to the numerous sources and individual contributions of Gigerich and David Brandon. The conclusion is slightly clunky, as it brings up a sudden final factor of Texas Emerging Technology Fund, that though it improves the Texas economy, seems out of place as a hard hitting conclusion. Stackhouse's political aim seems very neutral, as there are no politicians mentioned nor inclination of a political party. Of course one could argue that under Rick Perry's leadership, Texas was able to accomplish such things, but that itself is left to the reader. 

I personally found this blog commentary very credible and informative. Stackhouse provides a beacon of hope for Texans despite a national recession.

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