Texas not only leads the nation in job creation, it has more than doubled the next-best state’s total
Texas First is an ongoing series detailing the explosive growth of Texas’ economic landscape.
Texas added 660,000 new jobs in 2022—an increase of 3.6%, and more than any other state in the country last year, according to the Bureau of Labor Statistics. Texas’ statewide job growth was more than double the number of new jobs added in the second-ranked state, California.
The strong job growth in Texas is due to a number of factors, including the state’s low taxes, business-friendly environment, and growing population. Texas is also home to a diverse economy, with strong industries in manufacturing, technology, and healthcare.
The following graphic compares the job growth in Texas to other parts of the country in 2022:
The strong job growth in Texas is a boon to the state’s economy and its residents. It is also a magnet for businesses and workers from other parts of the country.
In addition to job growth, Texas also has a low cost of living, a growing population, and a diverse economy. These factors make Texas an attractive place to live and work.
Tesla is relocating its headquarters from Palo Alto, California to Austin, Texas. The company is expected to create 5,000 jobs in Austin over the next few years.
McKesson, a pharmaceutical distribution company, announced in 2017 that it was moving its corporate headquarters from San Francisco, California, to Irving, Texas. This move created around 1,000 jobs.
McAfee is currently in the process of relocating its headquarters from San Jose, California to Frisco, Texas. The company is expected to create 3,000 jobs in Frisco over the next few years.
Samsung is building a new semiconductor manufacturing plant in Taylor, Texas. The plant is expected to create 2,000 jobs during construction and 18,000 jobs once it is operational.
Interested in investing in Texas?
If you’re an accredited investor, you can sign up and invest in Texas-based opportunities directly through our online investment platform, Partners Finance—the capital-raising division of Partners Real Estate.*
*Securities offered through Partners Finance, member FINRA / SIPC. Investing in private placements is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. Some of the risks of investing in real estate include changing laws, including environmental laws; floods, fires, and other acts of God, some of which may not be insurable; changes in national or local economic conditions; changes in government policies, including changes in interest rates established by the Federal Reserve; and international crises.
Senior Vice President of Research and Market Forecasting
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