Search results
Results from the WOW.Com Content Network
The Texas oil boom, sometimes called the gusher age, was a period of dramatic change and economic growth in the U.S. state of Texas during the early 20th century that began with the discovery of a large petroleum reserve near Beaumont, Texas. The find was unprecedented in its size (worldwide) and ushered in an age of rapid regional development ...
The economy of the State of Texas is the second largest by GDP in the United States after that of California. It has a gross state product of $2.636 trillion as of 2023. [ 7 ] In 2022, Texas led the nation with the most companies in the Fortune 500 with 53 in total. [ 8 ]
Energy is a major component of the economy of Texas. The state is the nation's largest energy producer, producing twice as much energy as Florida, the state with the second-highest production. It is also the national leader in wind power generation, comprising about 28% of national wind powered electrical production in 2019.
Citing census and Bureau of Economic Analysis data, the group said that in 2020 over 38,000 Texas companies exported goods and that 92% of those were small- and medium-sized businesses.
For premium support please call: 800-290-4726 more ways to reach us
In February 2021, the state of Texas suffered a major power crisis, which came about during three severe winter storms sweeping across the United States on February 10–11, [ 6 ] 13–17, [ 7 ] and 15–20. The storms triggered the worst energy infrastructure failure in Texas state history, leading to shortages of water, food, and heat. [ 8 ]
Oct. 9—AUSTIN — Texas Mutual Insurance Company, a policyholder-owned company and the state's leading provider of workers' compensation insurance, has distributed $350 million in dividends to ...
The economy of Houston is based primarily on the energy industry, particularly oil.However, health care, biomedical research, and aerospace also constitute large sectors. In 2021, the gross domestic product (GDP) of the Houston–The Woodlands–Sugar Land metropolitan statistical area (MSA) was 537 U.S. dollars billion, the fourth-largest of any metro area in the United States. [1]