From Austin Business Journal, April 6, 2009...
A new report from the Texas Public Policy Foundation argues that the money flowing in to the state from the federal stimulus package could actually hinder private sector growth and end up costing Texas more than 131,000 jobs.
The report, titled The Economic Impact of Federal Spending on State Economic Performance—A Texas Perspective, was released at the Capitol on Monday.
Researchers looked at historical patterns of economic growth and spending by federal, state and local governments; the implications for Texas unemployment payments and taxes; and estimated effects that the recently passed federal stimulus package will have on Texas private sector economic activity and employment.
Read more...
Showing posts with label Texas Economy. Show all posts
Showing posts with label Texas Economy. Show all posts
Monday, April 13, 2009
Monday, March 9, 2009
Governor says Texas should focus on film business
From Austin Business Journal, March 4, 2009...
Texas Gov. Rick Perry is hoping to make Texas a hot spot in the film industry.
The governor released a statement Wednesday saying he wants the Texas Legislature to provide $60 million in funding for the Texas Film Incentive Program -- an initiative that seeks to create incentives that will attract more film development projects to Texas.
“The entertainment industry is an essential part of Texas’ economy, bringing in more than $1.2 billion over the past 10 years, but those numbers are declining,” Perry said on Wednesday. “We want to create a sustainable program that not only attracts individual productions, but develops the skills, infrastructure and culture that will give us a long term competitive edge in the industry.”
Read more...
Texas Gov. Rick Perry is hoping to make Texas a hot spot in the film industry.
The governor released a statement Wednesday saying he wants the Texas Legislature to provide $60 million in funding for the Texas Film Incentive Program -- an initiative that seeks to create incentives that will attract more film development projects to Texas.
“The entertainment industry is an essential part of Texas’ economy, bringing in more than $1.2 billion over the past 10 years, but those numbers are declining,” Perry said on Wednesday. “We want to create a sustainable program that not only attracts individual productions, but develops the skills, infrastructure and culture that will give us a long term competitive edge in the industry.”
Read more...
Thursday, March 5, 2009
Stimulus leaves state on mountain of cash
From News 8 Austin, February 27, 2009...
About $17 billion of President Barack Obama's economic stimulus package is headed to Texas. It will help fill gaps that would have strained the two-year state budget and its Rainy Day Fund savings account.
Officials are still trying to figure out how and where to spend it, but fears of deep cuts and a looming future deficit have all but faded.
The stimulus money is prescribed for education, health and human services, transportation, labor, criminal justice, and housing and infrastructure. Education will get the largest share at more than $6 billion. Health and human services programs are expected to get more than $4 billion.
Read more...
About $17 billion of President Barack Obama's economic stimulus package is headed to Texas. It will help fill gaps that would have strained the two-year state budget and its Rainy Day Fund savings account.
Officials are still trying to figure out how and where to spend it, but fears of deep cuts and a looming future deficit have all but faded.
The stimulus money is prescribed for education, health and human services, transportation, labor, criminal justice, and housing and infrastructure. Education will get the largest share at more than $6 billion. Health and human services programs are expected to get more than $4 billion.
Read more...
Restaurant industry booming in down economy
From KVUE, February 27, 2009...
There's one sector of the Texas economy that appears to be doing well. Despite closings and layoffs in other industries the restaurant business is booming.
The new Chinatown opened its second location earlier this month in downtown. Despite the slumping economy, places to eat and drink are booming.
Read more...
There's one sector of the Texas economy that appears to be doing well. Despite closings and layoffs in other industries the restaurant business is booming.
The new Chinatown opened its second location earlier this month in downtown. Despite the slumping economy, places to eat and drink are booming.
Read more...
Wednesday, February 4, 2009
Texas showing mixed signals on economic health
From News 8 Austin, January 26, 2009...
Texas learned that lesson in the 1980s, when an oil bust shocked the state into the realization that its economy wasn't diverse enough. Analysts say similar lessons from the savings and loan scandal a decade later are playing a role in Texas remaining somewhat insulated from the national economic downturn.
Read more...
Texas learned that lesson in the 1980s, when an oil bust shocked the state into the realization that its economy wasn't diverse enough. Analysts say similar lessons from the savings and loan scandal a decade later are playing a role in Texas remaining somewhat insulated from the national economic downturn.
Read more...
Sunday, January 25, 2009
Report outlines decline in Texas construction
From Austin Business Journal, January 22, 2009...
Texas is expected to experience a considerable slowdown in construction activity in 2009, according to a report issued by McGraw-Hill Construction.
The outlook for the coming year calls for construction spending of roughly $54.4 billion in Texas, down 13 percent from 2008, the report indicates. However the building of the giant Motiva and Valero refineries in Port Arthur that created 5,000 jobs buoyed the numbers in 2008.
Read more...
Texas is expected to experience a considerable slowdown in construction activity in 2009, according to a report issued by McGraw-Hill Construction.
The outlook for the coming year calls for construction spending of roughly $54.4 billion in Texas, down 13 percent from 2008, the report indicates. However the building of the giant Motiva and Valero refineries in Port Arthur that created 5,000 jobs buoyed the numbers in 2008.
Read more...
Thursday, January 22, 2009
Texas should be thrifty with $77 billion budget, comptroller says
From KEYE, January 12, 2009...
When the gavel falls to open the new session of the Texas Legislature on Tuesday, lawmakers will already be facing a $9 billion challenge. That's how much less money is available for the upcoming budget, compared to the last legislative session.
A slowdown in consumer spending, a drop in oil and gas prices, a struggling housing market - all bringing in less taxes, and that's part of the reason Texas has less money to work with.
Read more...
When the gavel falls to open the new session of the Texas Legislature on Tuesday, lawmakers will already be facing a $9 billion challenge. That's how much less money is available for the upcoming budget, compared to the last legislative session.
A slowdown in consumer spending, a drop in oil and gas prices, a struggling housing market - all bringing in less taxes, and that's part of the reason Texas has less money to work with.
Read more...
Friday, October 17, 2008
Texas economy slips in September
From Austin Business Journal, October 15, 2008...
The resilient Texas economy began to weaken in September, according to the latest snapshot of economic conditions released Wednesday by the Federal Reserve Board.
The Beige Book Report, measuring economic activity between late August and the first week of October, showed that the disruptions caused by hurricanes Ike and Gustav combined with payroll reductions led to more a more near-term pessimistic outlook in the state.
Read more...
The resilient Texas economy began to weaken in September, according to the latest snapshot of economic conditions released Wednesday by the Federal Reserve Board.
The Beige Book Report, measuring economic activity between late August and the first week of October, showed that the disruptions caused by hurricanes Ike and Gustav combined with payroll reductions led to more a more near-term pessimistic outlook in the state.
Read more...
Tuesday, September 16, 2008
Texas economy trumps California, says economist
From KVUE, September 9, 2008...
Texas may not have California's beaches, but according to economist Arthur Laffer, it doesn't have California's money woes, either.
Arthur Laffer, known as the "father of supply-side-economics", spoke at an Austin meeting to present his report comparing Texas to California on tax and regulatory climates. Laffer declared Texas the hands down winner in an economic matchup.
Read more...
Texas may not have California's beaches, but according to economist Arthur Laffer, it doesn't have California's money woes, either.
Arthur Laffer, known as the "father of supply-side-economics", spoke at an Austin meeting to present his report comparing Texas to California on tax and regulatory climates. Laffer declared Texas the hands down winner in an economic matchup.
Read more...
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