June 20, 2018
When it comes to manufacturing, the Lone Star State scored high on logistics and global reach, and low on tax climate. But Michael Hicks, director with Ball State University’s Center for Business and Economic Research, told the Austin Business Journal that Texas could become a manufacturing powerhouse by the mid-21st century.
Hicks, who discussed the forecast in tandem with the CBER’s recent release of its manufacturing and logistics report card, indicated that, as of now, Texas has been “growing manufacturing production and employment where most states are not.”
The tax climate lags other states because of higher-than-normal sales and property taxes, Hicks said. Also, human capital was below average, though Hicks indicated that the state has seen increase in educational attainment which has, in turn, been improving workforce quality.
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