Gov. Perry Meets with Industry Leaders to Assess Impact of National Economy on Texas

Gov. Rick Perry today met with leaders of key trade associations to hear first-hand how the current national economic situation is impacting Texas industries. This is the third meeting Gov. Perry has held with key industry and state leaders to discuss the future of the Texas economy.

“Texas has created a business friendly environment where 1,000 people a day move to our state to work and raise a family,” Gov. Perry said. “With a turbulent national economy, we must continue working together with the private and public sectors to maintain our state’s competitive edge and ensure future prosperity.”

The governor was joined by representatives from several trade associations, including the National Federation of Independent Business-Texas, Texas Association of Builders, Texas Automobile Dealers Association, Texas Motor Transportation Association, Texas Restaurant Association and the Texas Retailers Association.

The diversity of Texas’ economy has prepared the state to withstand the current instability in the national economy, and stronger guidelines for home equity borrowing and lending have resulted in Texas retaining some of the lowest levels of mortgage defaults among the nation’s top 10 most populous states.

Thanks to disciplined, principled policies of limited growth in spending, low taxes and a reasonable regulatory climate, Texas continues to be a leader in job creation. From October 2007 to October 2008, the U.S. lost over half a million net jobs while Texas created a quarter of a million net new jobs. Texas’ unemployment rate is nearly a full percentage below the national average, and the Lone Star State is home to more Fortune 500 headquarters than any other state in the nation.

While Texas remains in a substantially better economic position than other states in the turbulent national economy, Gov. Perry continues to work with the public and private sectors to identify opportunities to maintain and enhance Texas’ economic edge and competitive position in the global marketplace.