4% Economic Growth in Store for Texas
The overall Texas economy during the next five years will experience a real gross product growth rate of a 4.1% annual pace, while employment expands by just under 2.2%, according to data released by economics firm, The Perryman Group.
The Austin MSA will experience real gross product of 4.3%. The Dallas-Plano-Irving and Fort Worth-Arlington Metropolitan Divisions, in the meantime, will enjoy annual growth rates of 2.3% and 4.1%, respectively.
The Houston-The Woodlands-Sugar Land MSA will do fairly well over a five-year period. Perryman is forecasting real gross product to expand at a rate of 4.3% per year, with growth concentrated in the latter part of the forecast period.
One fly in the ointment, however, is the proposed wall between Texas and Mexico. Ray Perryman told ConnectMedia that, of the 12 million people working in Texas, approximately 1.2 million are undocumented. “We rely on that group of workers, and would have severe dislocations if they were no longer available, or severely restricted,” he said.
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