Texas is economically larger than entire countries like South Korea and Canada based on GDP. More Fortune 500 companies are in Texas than California.
Texas was previously ranked 10th in the world, and despite worldwide economic shutdowns, Texas moved up one spot to number 9. Companies like HP, Tesla, Amazon, CBRE, and Oracle either completely moved their operations to Texas or expanded them.
Due to our strong workforce of over 14 Million people, friendly business tax incentives, and overall lower costs of labor, it's no wonder that many corporations are starting to call Texas Home.
As of 2020, Texas now has more Fortune 500 companies than California. Texas was also the number one destination for Companies leaving the state of California.
Texas produces 40% of America's total Oil. That's a ton. ⛽️ While the Oil & Gas industry is huge, Texas is also the largest producer of wind power in America. 💨 Business Insider reported that Texas has enough crude oil to fill more than 1 million Olympic swimming pools.
The economic output of the Texas economy was $1.7 Trillion in 2017, placing us ahead of the entire country of Canada. 💵
According to Business Insider, Texas produces $13 billon worth of wine every year. Drink up, y'all. 🍷
The majority of Texas' exports go to other countries: $11.5 billion goes to China, $25.5 billion goes to Canada, and $92.4 billion goes to Mexico.
Business Insider also reported that there are 28 times the amount of businesses operating in Texas than there are in Wyoming.
Texas also makes up 10% of total manufacturing in America.