Deer Park Progress - News
Perry meets with leaders of key state agencies
AUSTIN – Gov. Rick Perry met Tuesday with leaders of key state agencies for an assessment of the impact of the current national economic situation on their agencies and the people they serve.
“During my time as governor, I have encouraged leaders in the public and private sectors to work to diversify our state’s economy so that we will not be held captive by the cyclical changes of any particular industry or market segment,” Perry said. “Although our economy remains one of the strongest in the nation, it is still interlaced with economies of other states that are suffering, and we must continue to monitor the current financial situation closely.”
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 has resulted in Texas having some of the lowest levels of mortgage defaults among the nation’s top ten most populous states.
Texas continues to be a leader in job creation, generating nearly half of all jobs created in the nation from August 2007 to August 2008. Texas’ unemployment rate remains at 5 percent, 1.1 percent below the national average. Texas is also home to more Fortune 500 headquarters than any other state in the nation.
The governor attributed the relatively strong Texas economy to the state’s strong, principled policies of limited growth in spending, low taxes and reasonable regulatory climate that have fostered an environment that encourages job creation.The governor also expressed disappointment Congress passed a $700 billion taxpayer funded economic bailout that hasn’t fixed the stock markets.“While there may be a few provisions in the bill that benefit Texas, the truth is that Congress passed a $700 billion taxpayer-funded bailout for corporate America that included $470 million to create jobs in Hollywood and tax breaks for wooden arrow makers,” he said.The governor was joined by representatives from several state agencies, including the Office of the Comptroller of Public Accounts, Texas Pension Review Board, University of Texas Investment Management Company, Teacher Retirement System of Texas, Texas Department of Transportation, Texas Workforce Commission, Texas Water Development Board, Texas Permanent School Fund, Employee Retirement System of Texas and Texas Workforce Commission.
“During my time as governor, I have encouraged leaders in the public and private sectors to work to diversify our state’s economy so that we will not be held captive by the cyclical changes of any particular industry or market segment,” Perry said. “Although our economy remains one of the strongest in the nation, it is still interlaced with economies of other states that are suffering, and we must continue to monitor the current financial situation closely.”
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 has resulted in Texas having some of the lowest levels of mortgage defaults among the nation’s top ten most populous states.
Texas continues to be a leader in job creation, generating nearly half of all jobs created in the nation from August 2007 to August 2008. Texas’ unemployment rate remains at 5 percent, 1.1 percent below the national average. Texas is also home to more Fortune 500 headquarters than any other state in the nation.
The governor attributed the relatively strong Texas economy to the state’s strong, principled policies of limited growth in spending, low taxes and reasonable regulatory climate that have fostered an environment that encourages job creation.The governor also expressed disappointment Congress passed a $700 billion taxpayer funded economic bailout that hasn’t fixed the stock markets.“While there may be a few provisions in the bill that benefit Texas, the truth is that Congress passed a $700 billion taxpayer-funded bailout for corporate America that included $470 million to create jobs in Hollywood and tax breaks for wooden arrow makers,” he said.The governor was joined by representatives from several state agencies, including the Office of the Comptroller of Public Accounts, Texas Pension Review Board, University of Texas Investment Management Company, Teacher Retirement System of Texas, Texas Department of Transportation, Texas Workforce Commission, Texas Water Development Board, Texas Permanent School Fund, Employee Retirement System of Texas and Texas Workforce Commission.
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