People moving to Texas as local, state economy grows
5 Jan 2024
Texas, Development
Seguin, TX, USA / Seguin Today
Darren Dunn
(Seguin) — The city of Seguin is growing, which is no surprise if you see all the houses going up around town. That growth in Seguin is being replicated in several other parts of the Texas. In fact, the latest data from truck rental company U-Haul suggests that more and more people are moving to Texas. This is the third straight year that Texas has topped the U-Haul Growth Index, which looks at the number of one-way movers. Florida came in second. And, for the fourth year in a row, California had the largest net loss of one-way movers.
The report from U-Haul isn’t all that surprising to Glen Hamer, of the Texas Association of Business. He says there are several things that are attracting new people to the Lone Star State.
“Texas is the land of opportunity. We have the strongest economy in the United States of America,” said Hamer.
A few years ago Texas started attracting more and more tech jobs, which also brought more new people to the state. Hamer says the economy is diverse and it continues to grow.
“This is an economy that is firing on all cylinders — in every sector,” said Hamer.
A favorable cost-of-living for much of the state is helping to attract new people to Texas. Hamer says there’s also an abundance of good paying jobs, which acts as a magnet for the state.
“People from all around the country are coming to Texas to pursue their employment dreams. There’s just no economy in the country that’s stronger (than Texas),” said Hamer.
The U-Haul Growth Index largely supports some of the other recent economic data reported about Texas. Governor Greg Abbott this week is touting new numbers from the Bureau of Economic Analysis that shows the Texas economy grew faster than the rest of the nation.
During the third quarter of 2023, the Texas GDP grew at 7.7 percent, while the rest of the nation grew at 4.9 percent. This is the fifth straight quarter that saw Texas outpace the rest of the country. Governor Abbott called Texas the “undisputed economic leader” in the United States. These figures come on the heels of November’s employment numbers, that showed Texas adding more jobs over the past year than any other state.
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