The Economy of Texas – Secondary Tertiary and High Tech

As Texas developed its industrial base through the 20th century, it no longer depended as reliantly as it had done previously, on the success of the primary industries. They were still lucrative but now other types of businesses were making an economic impact in the region.

Many of the heavy industries have been established as a result of the success of the primary industries in the state. The Docks areas have proved to be areas of industrial growth as produce has entered and left the state. They were also closely linked with the growth of the railways as they attempted to transport inland produce to the coast for export.

The huge headquarters of Exxon Mobil

The energy industry in Texas is the largest in the United States with individuals consuming more than anyone else. There appears to be a limitless supply of oil in the state and as soon as one well dries up the search for another one begins, a little further west. Many of the oil companies have their headquarters in Texas including BP (Houston), ConocoPhillips, Marathon Oil, Exxon Mobil and Valero. Exxon Mobil is the second largest company in the whole of the country and ConocoPhillips is the 4th biggest. Texas lead the way in investigating renewable sources of energy and is the leading state in producing generated wind power. It has also produced power from solar panels plus wave powered generators.

The aeronautics industry is based in Texas with Lyndon B Johnson Space Centre being based in Houston. The same city also has the headquarters of the National Space and Biomedical Research Institute. The Dallas-Fort Worth International Airport is the second largest airport in the country and the 4th largest in the world. The largest airline in the world American Airlines, has its headquarters in Fort Worth, with South West Airlines being based near Love Field airport in Dallas. Lockheed Martin Aeronautics’ headquarters are in Fort Worth along with Bell Helicopter.

“Silicon” Hills in Austin

The scale of the largest industries wishing to locate in Texas is huge. All of them will have massive research divisions which falls under the banner of high tech industries. Texas is becoming more well known for its computer industries with Austin being known as “silicon hills” because of the number of computer and high tech companies attracted to the city.

North Dallas is known as “silicon Prairie” due to the areas high concentration of IT companies and in general Texas is an ideal location for these light industries. Good quality of living and a high standard of university education means that that there is a high availability of an educated workforce. Many of the local universities work closely with the companies to research different fields.

Tourists are attracted to Texas for a number of different reasons.  Tourists love visiting El Paso and San Antonio for their historical and cultural significance. Houston is also popular as a result of its history with the oil industry, but it is also popular as a convention centre. Some tourists enjoy heading off towards the Gulf of Mexico and enjoy the resorts at Galveston, Corpus Christi and Padre Island. The several world class museums in Fort Worth are always well attended and the city also holds the Van Cliburn International Piano Competition.

Music is also a major attraction of visiting the capital Austin and its official slogan is “The Live Music Capital of the World”. There are many music festivals held in the city each year which include the “Austin City Limits Music Festival” and the “Urban Music Festival”. The hosting of several film festivals in the city each year helps to confirm its reputation as being at the centre of creative arts in the state. Currently around 220 million tourists visit Texas each year. This creates hundreds of thousands of jobs and brings great revenue into the state. It is estimated that this amounts to around 65 million dollars which is 13% of the States’ total GDP.

There are is doubt that Texas is wealthy, and its economic success can be attributed to the wide diversity of its successful industries.