Archive for May, 2011

Texas adds 732,800 jobs in 10 years; no other state tops 100,000

 The Business Journals national website.

Tuesday, May 24, 2011

by G. Scott Thomas

Texas has enjoyed an unequaled economic boom the past 10 years.

The inventory of private-sector jobs in Texas increased by 732,800 between April 2001 and the same month this year, according to an On Numbers analysis of new federal employment data.

No other state registered an increase of more than 100,000 private-sector jobs during the decade. Only 19 states and the District of Columbia posted any gains at all.

Texas avoided the real-estate bust that decimated the economies of several large Sunbelt states, including California and Florida, during the 2008-2010 recession. It consequently was positioned for a faster takeoff once the national economy began improving, allowing it to create 251,700 new jobs in the past year alone.

The runners-up to Texas in private-sector growth were Arizona and Utah, which added 90,200 and 90,000 jobs respectively, during the decade from 2001 to 2011.

California suffered the biggest decline during the decade. It had 623,700 fewer private-sector jobs last month than it did a decade ago. Michigan was next with a 10-year loss of 619,200 positions.

To view the full article and chart, please visit here.  The chart shows the private-sector employment trends between 2001 and 2011, as well as the one-year changes from 2010 to 2011. It can be re-sorted by any category. Just click on the appropriate header.

Ft Worth’s Plant Announcement

Congratulations to Ft Worth Chamber of Commerce on their recent win and announcement of GE Transprotations plans to invest $96 million and hire 500 people for a new locomotive manufacturing plant in north Ft Worth.  The Erie, Pa.-based company is purchasing a 500,000-square-foot building and plans to expand the facility by another 400,000 square feet. The new plant will be located on State Highway 114 at hIghway 156 west of the Texas Motor Speedway.

The company will hire welders, assemblers, painters and others, and could eventually add another 275 jobs in the future.

Manufacturing Stages A Comeback

Within the next five years, the United States is expected to experience a manufacturing renaissance as the wage gap with China shrinks and certain U.S. states become some of the cheapest locations for manufacturing in the developed world, according to a new analysis by The Boston Consulting Group (BCG).

With Chinese wages rising at about 17 percent per year and the value of the yuan continuing to increase, the gap between U.S. and Chinese wages is narrowing rapidly. Meanwhile, flexible work rules and a host of government incentives are making many states—including Mississippi, South Carolina, and Alabama—increasingly competitive as low-cost bases for supplying the U.S. market.

Caterpillar Inc., for example, announced last year the expansion of its U.S. operations with the construction of a new 600,000-square-foot hydraulic excavator manufacturing facility in Victoria, Texas. Once fully operational, the plant is expected to employ more than 500 people and will triple the company’s U.S.-based excavator capacity. “Victoria’s proximity to our supply base, access to ports and other transportation, as well as the positive business climate in Texas made this the ideal site for this project,” said Gary Stampanato, a Caterpillar vice president.

Click here to read more.

Source: The Boston Consulting Group