Business

Texas Drops To Eighth Place In State GDP Growth Rankings

The state’s growth rate in 2013, while slower, is likely more sustainable.

Texas’ gross domestic product grew by 3.7 percent in 2013, down from 6.9 percent the year prior, according to the latest measure of state GDP data by the U.S. Commerce Department. The Lone Star State dropped from the second-fastest growing state economy to number eight. All seven states ahead of Texas were beneficiaries of the boom in unconventional oil and gas production — most notably North Dakota, which has held the top spot since 2010.

Ed Curtis is CEO of YTexas, a relocation assistance network. He says Texas’ growth rate, while slower, is more sustainable over the long run.

“If you really look at the extent and the depth of the growth – you know, it included 11 major industries, whether it be the health care industry, the advanced manufacturing industry, professional services industries – it’s a lot more deep than some of these other states that may be very heavily reliant on the oil and gas numbers.”

Forty-nine of the 50 states posted positive GDP growth last year. The sole exception was Alaska, which lost 2.5 percent. 

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Andrew Schneider

Andrew Schneider

Politics and Government Reporter

Andrew heads Houston Public Media’s coverage of national, state, and local elections. He also reports on major policy issues before the Texas Legislature and county and city governments across Greater Houston. Before taking up his current post, Andrew spent five years as Houston Public Media’s business reporter, covering the oil...

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