Business and Industry Data Center

Population

Texas' population reached 22,859,968 in 2005 according to the latest estimates from the U.S. Census Bureau. Most of Texas' population resides in metropolitan areas (84.8 percent). In 2005, Texas became the fourth "majority-minority" state, with a minority population comprising 50.2% of its total population
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Employment

Texas employment gained 153,500 nonagricultural jobs in 2005 for an annual growth rate of 1.6 percent. Texas employment growth exceeded national employment growth rates in 2005 and December 2005 marked sixteen consecutive months of state nonagricultural job growth.
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Labor and Management Diversity

The value of sales and receipts of minority-owned firms in Texas reached $67.4 billion in 1997 (the latest year these data are available).
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Income

The Texas economy ended 2005 in good shape, posting its best performance since 2000. Third Quarter 2005 BEA data indicates Texas ranked fourteenth in the nation for personal income, with small increases over the year. In 2004, Texas had a total personal income (TPI) of $690,376,069 and ranked third in the nation by TPI.
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Gross State Product

The Texas Gross State Product (GSP) is forecast by the Comptroller of Public Accounts to reach $924.55 billion (in current dollars) in 2005.
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Industry Trends

For the fourth quarter of 2005, venture capitalists in Texas invested primarily in the Texas telecommunications, software, financial services, business products & services, industrial/energy, semiconductors, and biotech industries.
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Real Estate

In 2005 and looking forward to 2006, Texas real estate is in good shape. Interest rates remain low, helping to drive residential housing construction and purchases. The Texas housing market continues to show strong growth according to Texas residential housing permits data.
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International Trade & Investment

In 2005, for the fourth year in a row, Texas was ranked as the number one state by export revenues. Texas exports for 2005 totaled $128.7 billion, which is $11.5 billion more than 2004 and represents an 9.82 percent increase.
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Research and Development

Texas universities and research institutions are leaders in electronics, medical, biotechnology, aerospace, advanced materials, and energy research. Texas residents were issued 5,660 patents and Texas resident filed 12,951 patent applications in fiscal year 2005, ranking second in the nation in both categories behind California.
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Transportation

The state's two largest airports, Dallas-Fort Worth International (DFW) and George Bush Intercontinental in Houston (IAH), serve as major hubs for connecting flights within the domestic air system.
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