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Incentives and Disincentives for Corporations entering the Texan financial industry compared to other U.S. states in general
Finance & Accounting
Pages 11 (2761 words)
The Financial State of Texas State Name: Course: Lecturer: Institution: Date: Abstract Evidently, Texas is an economic powerhouse in the United States of America as it makes up 8 percent of the total U.S. GDP. The over $200 billion exports in a year, robust and diverse industries together with the favorable tax policy promotes its economic growth.
The outstanding leadership of Governor Rick Perry has promoted the growth of the Texas State and eventual recognition of the Texas model for economic development. The no income tax policy, minimal government interference, and maintaining fiscal discipline has promoted an increase in population and newly created jobs. Texas State has been so successful that Governor Perry has been flaunting the Texas economic benefits and openly luring businesses from California, Maryland and other states to “think Texas” and relocate to the Lone Star State. Introduction In the United States of America, Texas State is the second largest and has the second highest number of inhabitants out of all the 50 states. (Hess and Sauter, 2013) observe that the 2012 US national economy grew, and Texas and California, some of its largest state economies grew more rapidly. California has the largest state economy, closely followed by Texas. According to the International Monetary Fund 2011 rankings, Texas has a GDP of $1.2 trillion, that is, 8 percent of the total U.S. GDP. It is further recorded that the 2012 Texan GDP went up by almost twice the 2.5% of the total U.S. GDP. ...
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