Texas vs. California

California is the number one state in contributing to the national GDP, and Texas is number two. Yet, by many accounts, California is on the decline while Texas is experiencing growth. State Director of Information Capital for Independence Title, Mark Sprague, explores why this is in his latest article:

http://www2.independencetitle.com/VOICE/IndependenceVoice061512.pdf

Here are some interest tidbits from his writing:

*Unemployment rate for Texas = 6.9% vs. California = 10.9%

*Texas ranks the 42nd state in highest tax burden, while Calfornia ranks 3rd

*”Between April 1, 2000 and June 30, 2007, an average of 3,247 more Americans moved out of California than into it every week, according to the Census Bureau. Over the same period, Texas saw a net gain on 1,544 people per week.”

So what is the secret to Texas’ success? Sprague goes on to explain the four factors driving our state’s economic growth

1. Population growth and immigration

2. Low cost of living and low real esate prices

3. Oil and gas

4. Proximity and transporation routes to Mexico and Latin America

Read the whole article! It is a wealth of information.