More fodder for those who believe that small government and smaller taxes help fuel big economic gains.
A new report authored by the investor news site 24/7 Wall Street and highlighted by the Texas Comptroller ranks Texas’ economy as one of the fastest-growing state economies in the nation over the past decade.
According to the report, Texas’ Gross Domestic Product (GDP) grew by an estimated 52.1 percent between 2000 and 2010, ranking it sixth in the nation in terms of total economic growth. Only Utah (+52.1 percent); South Dakota (+57 percent); Alaska (+66.6 percent); North Dakota (+76.1 percent); and Wyoming (+98.5 percent) ranked better in the comparison.
It’s worth noting that Texas’ appearance on the list of fastest-growing state economies is somewhat unique because the Lone Star State is the “only one of the 10 largest states to register in the top 10 for GDP growth.”
It’s getting harder and harder to deny the Texas Model works, and it works well.