According to a report recently released from the Perryman Group, Texas economy is well positioned for healthy expansion over an extended time horizon. The long-term forecast shows the real gross product at a 3.21% annual pace. This increase compared to $1.7 trillion in 2017 will put 2045 at $4.0 trillion.
Over the next period, there will be 7.2 million net new jobs created. This is a 1.62% annual rate of increase and will cause a 2045 total level of employment of 19.8 million.
Ray Perryman states, ” Texas is likely to remain among the strongest states for job creation and economic growth for the foreseeable future. If we make enlightened policy decisions, it can be even better.”
To access the full report, click here.