The Texas Economy
The Texas economy is one of the largest in the United States. If Texas were an independent country, its economy would be the 15th largest in the world. Fifty-four Fortune 500 companies in the U.S. are in Texas, the third-highest amount of any state in the country. In addition, jobs in Texas are growing faster than in the rest of the nation. And it is not just oil and gas. According to federal Bureau of Labor Statistics data, Texas added more jobs than any other state in 2014 and led the nation in job growth for five consecutive years.
Texas’ success is built in part on its high-quality infrastructure. For example, the Dallas/Fort Worth International Airport is the second-largest and fourth-busiest airport in the U.S. Every major city in the continental U.S. can be accessed within four hours flying time from the airport, giving Texas a major competitive advantage in business. Nearby Alliance Airport serves as a key freight transport center. Texas is also a major rail center. Fort Worth’s Tower 55 coordinates more than 100 freight and passenger trains a day through the city.
Texas’s success is also driven by its major research universities, such as Texas A&M. In 2014, our university filed 135 patent applications, received 22 patents, generated $10.2 million in licensing revenues and returned $18 for each dollar invested in the university. It’s not just Aggies filing patents; Texas ranked second in the nation for patents issued in 2013.
Key Texas Industries
Texas is home to government research centers and private firms.
- NASA’s Lyndon B. Johnson Space Center
- National Space and Biomedical Research Institute
- Bell Helicopter
- Lockheed Martin
Texas is one of the major U.S. centers for computer hardware and software development. Dell and Texas Instruments are both major Texas employers.
Defense and Defense Contracting
Texas is home to two of the U.S. Army’s largest facilities, Fort Hood and Fort Bliss. Texas is a major center for defense contractors like Bell Helicopter and Lockheed Martin, which create many jobs.
Texas is a global leader in the energy industry. A number of major oil companies have headquarters in Texas. It’s not just oil: Texas is also a leader in alternative energy sources and produces the most wind power of any state.
Texas is a center for healthcare research (including at Texas A&M’s Health Science Center) and healthcare services.
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The Texas and Fort Worth/Dallas Legal Communities
Fort Worth and Dallas, and all of Texas, are terrific places to start your legal career. Not only is the State Bar of Texas the third-largest state bar in the United States, but Texas lawyers have all kinds of careers, in all types of practice areas.
The Fort Worth/Dallas metro area is home to over 20,000 attorneys, giving you access to leading lawyers in all areas of the law, including law firms, government agencies, non-profit organizations and the legal departments of corporations. And being a Texas lawyer is a good career choice financially. From 2011 to 2013, median income increased for attorneys in Texas and the Fort Worth-Dallas area.
Learn more about the Fort Worth/Dallas legal community.
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