Tag: texas economy

krave

California Jerky Giant Going to Texas

A Northern California jerky snack food giant is the latest company to announce plans to exit the Golden State and relocate in Texas, potentially, later this year.

JPMorgan Chase

Tax Reform Leads JP Morgan Chase to Unveil $20B Investment Plan amid Texas Expansion

J.P. Morgan Chase & Co. plans to make a $20 billion, five-year investment in its U.S. businesses, boosting wages and expanding into new markets, largely in response to the recent sweeping corporate tax code changes made by the Trump Administration. Texas claims the second highest number of Chase employees after New York.

U-Hual

U-Haul Names Texas Leader for U.S. Growth

U-Haul named Texas the nation’s number one growth state for 2017, marking the second consecutive year the Lone Star State nabbed the top spot in the truck rental company’s annual migration trends report which analyzes domestic relocation patterns.

Job Growth in Texas

Texas 2018 Economy ‘Firing on All Cylinders,’ Dallas Fed Predicts

A senior economist with the Federal Reserve Bank of Dallas says the Texas economy is “firing on all cylinders” for 2018. He forecasts strong job growth, low unemployment, and other potential gains that may come in response to the Trump administration’s recently passed federal tax overhaul plan.

An employee prepares order at Amazon's San Bernardino Fulfillment Center

Amazon Hiring 2500 for Houston Fulfillment Center

E-commerce giant Amazon announced Tuesday it began the process of hiring 2,500 full-time employees for its new fulfillment center in Houston, expected to open this summer. This marks the seventh facility the company will house in Texas.

OPEC Oil Chief

OPEC Chief: Oil is Now Too Cheap

Leading up to a crucial meeting for the global cartel next week, OPEC leadership has made plain that the price of oil is far too low to encourage investment and supply the global market in the longer term. The comments follow a variety of indicators beginning to signal a larger recovery.

Optimistic about Oil Market

Three Reasons to be Optimistic About the Oil Market

Over the many months and pay cycles since the downturn in 2014, Texas’ oil and gas industry has seen one bad headline after another. The state has witnessed major bankruptcies; repeated rounds of workforce downsizing; aborted mergers; endemic rig stacking; and a political inquisition to criminalize unapproved thoughts on climate change.

Texas Open For Business Collage

Texas Named Best State for Business 12-Years Running

For the 12th consecutive year, Chief Executive Magazine named Texas the nation’s best state for business. This year’s accolades come at a time when even more businesses either expanded their operations or relocated their headquarters to the Lone Star State.

Governor Greg Abbott welcomes Mitsubishi to Texas

Texas Nabs Mitsubishi Subsidiary HQ from New York

Another corporate headquarters is calling Texas home after Mitsubishi Heavy Industries has officially settled into its offices in southwest Houston. Texas Governor Greg Abbott was on hand to formally welcome the new employees last week.

Chevron Bets on West Texas

Chevron Bets Big on West Texas to Triple Oil Production

Despite a soft, global oil market, Chevron Corporation (NYSE: CVX) recently announced an aggressive plan to shift resources to West Texas and eastern New Mexico from other regions in a bid to triple daily crude output by 2020. The increased exploration activities improve chances for active rig counts to increase in the years ahead.

Texas Oil Giants Continue Layoffs

‘Unsustainable Markets’: Texas Oil Giants Slash 14k Jobs in 2016 so Far

Two of the largest oilfield services companies in the world announced a combined workforce reduction of 14,000 in the first quarter of 2016 as crude prices remain soft amid disagreement among international producers to cap production levels. Executives have signaled concern of additional layoffs in the months ahead.

AP Photo

24 hours: Two Texas Oil Drillers File for Bankruptcy

Two Houston-based drilling companies filed for Chapter 11 bankruptcy protection within a 24-hour period ending Friday as the oil slump continues to take its toll on the sector at large. The firms plan to shed a combined $3.2 billion in debts to their creditors.

Texas Capitol

Op-Ed: International Trade Influences Texans’ Prosperity

The Texas economy has taken hits from a plunge in oil prices, global economic weakness, and a stronger U.S. dollar during the last year. One indication of this combined blow is the latest report by the Dallas Federal Reserve showing a 7.7 percent drop in exports during the last year through July. With exports contributing to almost one-fifth of the state’s total economy and supporting more than one million jobs, it’s no shock that the state’s economy is slowing.

River Oaks Home

Houston #5 Nationally in Luxury Home Sales despite Lower Oil Prices

HOUSTON, Texas – Despite a sharp downturn in the price of oil, Houston remains the top Texas city for the sales of luxury homes and ranks fifth in the nation. This ranking was reported from Coldwell Banker Previews International’s spring 2015 luxury market report by Paul Takahashi with the Houston Business Journal.

Glenn Hegar - AP Photo

Texas Economy Expected to Grow Despite Oil Slump

Texas Comptroller of Public Accounts Glenn Hegar released the Biennium Review Estimate (BRE) on Monday in Austin. He predicted Texas will have $113 billion available for general purpose spending during the 2016-17 biennium. This represents a 9.5 percent increase over the 2014-15 biennium. The new Comptroller predicted a moderate growth rate during the coming two years.