can a texan (or anyone knowledgeable) explain to me what's propping up their economy? I know california's rich because it has silicon valley and L.A as huge economic powerhouses. is it the oil? NASA? dude perfect?
1/3rd of America's oil reserves, around 40% of its oil production, business-friendly laws, high immigration both international and interstate, high birthrate, big real-estate market with lots of development going on all the time, large financial sector in Dallas (From what I hear they're opening a stock exchange up there). Not really one big thing contributing to it like Cali, just a mish-mash.
1/3 of America’s tech startups and innovation hubs, around 40% of its venture capital, strict labor and consumer protection laws, high immigration both international and interstate, high birthrate, big real-estate market with lots of development going on all the time, major infrastructure projects like high-speed rail or the Sites Reservoir in the works. Not really one big thing contributing to it like Texas, just a mish-mash.
California is big because of the massive shipping industry that comes through there as well as the massive agricultural industry they have. Silicon Valley isn’t the only thing they have going for them.
Texas is somewhat similar, they have a booming tech field and lots of engineering R&D companies, as well as their space industry. I believe they also have some shipping booms as well since some ships go through Texas to get central faster so that probably makes up quite a bit.
Most huge economies in the US (really most countries) will exist on the coast and makes up a bulk of their economy with trade thanks to the ports
California #1 in US in manufacturing, agriculture, Fortune 500 companies, new businesses, tech and VC investments, and public higher education. And tourism doesn't hurt either.
California has lots of local manufacturing shops. Think about all the things that go into making a bag of lettuce, you need a warehouse to store it, cardboard boxes to put the lettuce in, plastic wrap to wrap the pallet, pallets, truck drivers to deliver the palletized lettuce. You also need research and development people that design the lettuce blends and flavors. All of that is locally available in California
I am centrist and definitely disagree with this take. You can easily see several years over the past 10 years that show Texas being a donor state. In fact, it appears that you sir are ignoring facts over partisan bias.
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u/NegativeSir3323 14d ago
can a texan (or anyone knowledgeable) explain to me what's propping up their economy? I know california's rich because it has silicon valley and L.A as huge economic powerhouses. is it the oil? NASA? dude perfect?