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Posted on: June 10, 2019

9 Industries Driving GDP Growth in the Texas Economy

BY Ryan Downie  

In the years following the 2009 recession, Texas was one of the most economically resilient states, experiencing compounding annual growth in excess of 7% between 2009 and 2014. Throughout the economic recovery, the strongest growth industries were related to energy, construction, and technology. The Texas economy's long-standing ties to the energy sector helped drive employment and income expansion amid rising oil and gas prices, though commodity price depreciation in 2015 has challenged further growth over the past year.


Technology hardware and software firms have grown rapidly in Texas, which has managed to lure business from other states such as California. Like the rest of the United States, the largest employment sectors in Texas are retail trade, professional services, leisure and hospitality, and health care. None of these sectors are exhibiting exceptional growth, but they form the economic backbone of the state and represent the majority of jobs and income. An assessment of a state's economy requires examination of these basic industries.


Learn More About These Industries.

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