Construction booming in Texas thanks to solid economy
| November 15, 2013 |
A recent report from Business Investors Daily takes an in-depth look at the booming construction industry in Texas, saying the state’s expanding economy is driving the boom.
Noting the fact that the state “sat out of the housing bubble” and is currently enjoying the benefits of an energy boom as well, the report notes that Texas construction jobs alone accounted for 14 percent of the total job growth across all industries seen in the U.S. in August.
As of August, the state is home to 611,300 construction jobs—nearly 11 percent of all U.S. construction jobs at that time.
The report also details the state’s population growth over the last decade, the fact that its three largest cities are enjoying double the national average in job growth and that it offers businesses lower taxes, less regulation and more lenient labor laws.
That means a lot of office construction, especially from the big oil companies like ConocoPhillips, Chevron and Noble Energy. Not to mention the new Exxon Mobil campus in Houston that will house 10,000 employees across 20 buildings.
The report also notes the “perky” housing market in Texas, saying that “three of the top-10 U.S. metro markets with the highest number of annual housing starts are in Texas.”
Be sure to read the full report by clicking here. A lot of interesting data.