Texas’ Trillion-Dollar Economy among Nation’s Fastest-Growing
According to a recent analysis of federal data by the investor news site 24/7 Wall Street, Texas ranked among the nation’s 10 fastest-growing state economies between 2000 and 2010, finishing with a gross domestic product (GDP) of $1.1 trillion. Texas was the only one of the 10 largest states to register in the top 10 for GDP growth.
The site noted that growth figures tend to be more dramatic for small states, where “[a] very modest growth in absolute GDP can translate into high double-digit growth… The only large state economy that was marked by that level of growth was Texas, the second-largest state by GDP.”
| Rank | State | Percent Growth in GDP, 2000-2010 |
|---|---|---|
| 1 | Wyoming | 98.5% |
| 2 | North Dakota | 76.1% |
| 3 | Alaska | 66.6% |
| 4 | South Dakota | 57.0% |
| 5 | Utah | 52.1% |
| 6 | TEXAS | 52.1% |
| 7 | Nevada | 51.4% |
| 8 | Montana | 48.9% |
| 9 | Oklahoma | 48.4% |
| 10 | Louisiana | 48.4% |
| Rank | State | Percent Growth in GDP, 2000-2010 |
|---|---|---|
| 10 | New Jersey | 27.2% |
| 9 | Indiana | 26.2% |
| 8 | Wisconsin | 25.9% |
| 7 | New Hampshire | 25.4% |
| 6 | Illinois | 25.2% |
| 5 | Georgia | 24.4% |
| 4 | Massachusetts | 24.4% |
| 3 | Missouri | 23.0% |
| 2 | Ohio | 14.5% |
| 1 | Michigan | 2.3 |
Source: 24/7 Wall Street
