THIS Is WHY Texas Will Become The Richest State Of The USA!

[Applause] Texas is a US state in the south central part of the country with an area of 26859 square miles or 695,000 citizens in 202 23 it’s the second largest US state by both area and population respectively after Alaska and California Texas stands as a Haven for Freedom a place where the spirit of

Liberty thrives this very Spirit has set the Lone Star State in motion to lead the nation in population growth over the past 17 years while also maintaining its prominent status as a premier hub for job creation in the global economy Texas ranks ninth in size offering unique advantages like a business-friendly

Atmosphere without income taxes a skilled in diverse Workforce and easy access to International markets with a strong infrastructure and reasonable regulations Texas stands out as a prime location it’s earned the Governor’s Cup for 11 years straight due to its many new corporate projects Across the Nation Texas is consistently recognized as the

Best state for business by CEOs the label made in Texas carries a strong worldwide appeal reflecting the state’s reputation for nurturing entrepreneurs and preserving the the freedom to Aspire rooted in this ethos Texas is set to remain a top destination for businesses regardless of size by embracing the potential of innovators and Trailblazers

Is Texas on its way to becoming the richest state what is this success dependent on more on that in the video Texas vers California rivalry Texas and California stand as the two most populous states in the nation both have the largest GDP in the United States which measures economic size and

Well-being the loans Star State and the Golden State are significant forces drawing in corporate headquarters skilled individuals and Investments yet they differ in terms of public policies that greatly impact business activities the economy of Texas in recent times Texas has consistently LED in increasing its GDP with a $2.3 trillion economy

It’s placed among the world’s top 10 the final quarter of 2022 experienced a significant 7% rise in its yearly Real gross domestic product growth rate recent figures show that since January 2021 Texas has added an impressive 8876 jobs leading to a decline in the state’s unemployment rate from 6.7% in

2021 to 4.3% in 2022 comparing California and Texas California is the nation’s largest economy with a whopping $3.5 trillion GDP taxes take the lead as the primary revenue source for state governments now let’s head to to Texas it’s Unique no individual income tax leading to a per capita tax revenue of

$479 however California takes a different route with the highest individual income tax rate in the country resulting in a $ 7,326 Revenue per capita in Texas the bulk of local and state spending goes into education while in California Medicaid and Social Services take Center Stage over the past year and a half

California has impressively added 1 millon 4 35,700 nonfarm jobs recovering more than 90% of those lost during the pandemic April 2022 saw the state’s unemployment rate drop to 4.6% down from 8.8% in January 2021 population growth is a big deal for economic Vitality here Texas shines bright it took the lead in adding

Residents from 2020 to 2021 with more than half of the nation’s fastest growing cities calling Texas home meanwhile California has faced a different story losing nearly 120,000 residents in 2021 alone when it comes to Prime business destinations Texas Takes the Cake the robust and colossal Texas economy has wooed numerous corporations

From diverse sectors the state offers an inviting environment for business growth and expansion boasting fewer cumbersome regulations and the added perk of no corporate or individual income tax the South has experienced a surprising economic rise even during the pandemic migration in a remarkable shift six rapidly growing Southern States Texas

Florida Georgia the Carolinas and Tennesse have overtaken the Northeast including the Washington New York Boston Corridor as contributors to the national GDP this reversal triggered during the pandemic remains steady and unyielding before we move on here’s a quick reminder to subscribe to the channel and like this video now a surge of

Relocations has driven around $100 billion in fresh income into the southeast in 2020 and 2021 while the Northeast suffered a $60 billion loss as revealed by recent IRS data analysis the southeast has led over 2third of all us job growth since early 2020 almost doubling its pre-pandemic influence it’s

Also home to 10 out of the 15 fastest growing large cities in the nation corporate migration has further boosted the region with Census Bureau data indicating a record number of companies moving south post-pandemic Jacksonville’s rapid growth has propelled it past San Jose California in population excellent educational institutions including the University of

Florida have fostered a highquality employee pool with its headquarters Dunn and Brad street is actively hiring aiming to reach 500 employees the Mayo clinics Jacksonville Branch mirrors the city’s expansion it added 2,400 employees last year part of the broader Trend that has led 2.2 million people migrating to Florida and and the

Southeast in the past 2 years the concept of a new South has persisted through generations evolving with economic transitions this current surge goes beyond just warmer weather low taxes and affordable housing a thriving economic landscape spans from Nashville which ranks as the top real estate Supernova with Fort Worth standing out

As the fastest growing large city in the country JP Morgan chasing Co CEO Jamie Diamond highlighted this trend noting that the bank has more employees in Texas than in New York State the pandemic has triggered an unprecedented migration and economic transformation solidifying the South as a formidable economic Powerhouse the inequalities linger for

The past 150 years the South has faced an uphill battle to overcome its status as America’s economic Underdog despite small areas where there is New Wealth life across much of the region tends to be less affluent and shorter in duration than other parts of the country the deep-seated legacy of slave slavery and

Segregation remains arguably unparalleled these changes both positive and negative have unfolded before the eyes of observers like Washington gentrification fueled by a stream of newcomers is driving up rents and home prices displacing Charleston’s black community Washington an African-American highlights that in 1990 blacks accounted for 42% of the City’s population that

Number has now dropped to 20% as per Census Bureau data just beyond Downtown Charleston the African-American Gula Community transported a 119-year old schoolhouse 2 mi from Boon Hall Plantation a still functioning Plantation where their enslaved ancestors worked this effort preserves history guarding it against the potential bulldozing of a new highway

The aim is to open it to the public next year after extensive Restoration in Noti Florida south of Jacksonville the disparities and poverty often associated with the South are not immediately apparent the median sale price of a single family home has risen by 62% to $773,000 in just 3 years schools are

Recognized as some of the best in the state and golf carts are a common site on local streets to the extent that a Publix’s Supermarket even has designated parking spaces for them Texas is on its way to become one of the wealthiest states in the foreseeable future driven

By several factors the state’s strong economy is built upon a diverse range of sectors including information technology oil and natural gas Aerospace defense biomedical research agriculture manufacturing and more Texas’s economic prowess can be attributed to its right-wing stance rather than despite it firstly low corporate and income tax

Rates and secondly the high corporate and income tax is present in states adhering to leftist economic policies over the past five decades businesses job opportunities and individuals have migrated from high tax leftist states to low tax right-leaning States like Texas sustaining a continuous trend of growth that’s it for today thank you for

Watching and don’t forget to subscribe to the channel if you haven’t already and leave this video a big thumbs up see you soon

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Video Duration: 00:09:12