Texas is experiencing a population boom, but its economy is also getting stronger. The state’s residents are getting richer, with the average resident generating more economic output than just a few years ago.

Texas’ Economic Success

The latest federal data suggests that Texas’ economic success is not just due to its large population. The state is generating more wealth for its residents, with a growing economy that is creating jobs and increasing economic output per resident.

Texas has started to garner more corporate relocations, investment, and residents at a pace few states can rival. Supporters argue that the state’s growth offers an alternative economic model built around lower taxes, lighter regulation, and business-friendly policies.

Job Market and Economic Output

The labor market in Texas has remained resilient, with the state adding more than 82,000 jobs over the previous year while maintaining an unemployment rate of 4.3%. The combination of population growth, job creation, and rising economic output has helped Texas attract additional investment, according to business leaders.

Capital follows where there is confidence, and right now, there is a tremendous amount of confidence in Texas, said Texas Association of Business Chief Policy Officer Gabriela von zur Muehlen. Texas’ tax structure and predictable regulatory environment continue to draw businesses and capital from other states.

Original reporting: Fox News (HLL/CB) — read the source article.