The Leader - July/August 2008 - (Page 76)

s pec Ia l fe at ur e The Texas Report: Lone Star State Thrives with Diverse Economy By BaIley WeBB texas has loNg Brought to MINd the oIl aNd eNergy sector, lo Ng horN cattle aNd coWBoys. sINce the 1950s aNd 1960s, the state has eMerged as a techNologIcal huB, spaWNINg ross perot’s electroNIc data systeMs aNd perot systeMs, steve dell’s epoNyMous coMputer fIrM, aNd Mark cuBaN’s galaxy of hIgh-tech startups, Not to MeNtIoN houstoN’s JohNsoN space ceNter aNd dallas-Based texas INstruMeNts, WhIch traces Its orIgINs to the 1930s. T he Lone Star State originated its share of commercial real estate icons, too, in Trammell Crow, Roger Staubach and Gerald Hines, to name a few, and the Perot family has added its name to the list with its massive AllianceTexas development in Fort Worth. Of course, Texas is still recognized as the center of the U.S. energy sector and a center of technological innovation and manufacturing, as well as gleaming urban skyscrapers and wide open spaces, home on the range. Yet, the state’s economy has eclipsed its peg to any one industry or handful of industries, emerging as one of the most diverse economies in the United States, if not the world. Texas’ location in the global supply chain, population and job growth and demographics make it an attractive location for businesses and people at all stages of their lives, whether involved in high-tech research and development, renewable energy, medical care and research, education, finance and real estate, logistics or agriculture and food processing. “We’re outpacing the national economy in a number of ways, and we want to do what’s best to maintain that,” said Aaron Demerson, executive director, office of the governor, economic devel- opment and tourism division. “We’re not resting on our laurels.” stIMulI According to the Federal Reserve Bank of Dallas, Texas is adding new jobs three times faster than the rest of the U.S., with one-third of the country’s new, nongovernmental jobs created in the Lone Star State last year. Between April 2007 and April 2008, the state led the nation in new-job creation with more than 250,000 new, non-farm jobs, according to the Bureau of Labor Statistics. That pushed Texas’ unemployment rate to 4.1 percent, compared with the national rate of 5 percent. Even as U.S. construction jobs the le ade r 76 J u ly / a u g u s t

Table of Contents Feed for the Digital Edition of The Leader - July/August 2008

The Leader - July/August 2008 Leadership Contents Message from the CEO Real Estate in the News Organizational Design Accommodating Growth Responding to the Challenge EMEA's Building Energy Rating TVA's Shortcut to Success ANZ Banking Group’s Jane Hamilton Tractus Asia’s Dennis Messeroll Arizona’s Greg Weiner Workplace Design Workplace Directory The Texas Report Industry Tracker Discovery Forum Findings Career Development Congratulations to 2008 Corenet Global Award Winners! Young Leader Economic Development in the News Connect with Corenet Global A Look Ahead

The Leader - July/August 2008

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