Growth in the Lone Star state continues, as the population swells with new arrivals seeking business opportunities and an economic environment that has weathered the recession remarkably well.
One recent arrival pens a telling tale of Texas’ relative stability and prosperity in decidedly difficult economic times:
Our new home in Dripping Springs, about 25 miles outside of Austin, may be the “Gateway to Hill Country”— to the stunningly beautiful rolling countryside that extends from Austin down to Kerrville, Junction and beyond— but it’s also in the heart of what I’ve called “Dal-Antonio.”
That’s the developing megopolis of Dallas, Austin and San Antonio. This area is to Texas as “Bos-Wash” is to the Northeast or “Chi-Pitts” is to the Midwest. [...]
It also accounts for three of the six major metropolitan areas with the fastest growing personal income in the United States. Add Houston, which is first on the list, and Texas is the heartland of growth in America in a year of shock, misery and loss.
Energy contributed, but it isn’t the whole story.
In case you haven’t seen the Bureau of Economic Analysis list of Personal Income for Metropolitan Areas, here’s how major cities compare. While Houston, Austin, San Antonio, and Dallas experienced personal income growth of 6.3 percent, 5.4 percent, 5.4 percent, and 4.6 percent, respectively, in 2008 the average U.S. metropolitan area was growing personal income at only 3.3 percent.
In fact, while the energy sector remains an important part of the Texas economy, many of the “Key Industries” identified by the Governor’s office are fueling Texas’ rapid growth in development, jobs, and wealth creation.
Among these industries is, of course, advanced automotive manufacturing. One need look no further than this map (courtesy of this GIS tool) to see the saturation of automotive manufacturers and suppliers throughout the state of Texas, forming part of the TMASC supply chain:
