The diverse economy of the Lone Star State
Business Daily
BBC
4.4 • 816 Ratings
🗓️ 30 October 2019
⏱️ 17 minutes
🧾️ Download transcript
Summary
Texas is the second-largest state economy in the United States and if it were a country it would be the 11th largest in the world. Although it produces more oil than any other state in the US, Texas is rapidly becoming known for renewable energy and a vibrant tech sector. Professor John Doggett at the University of Texas at Austin explains just what Texas is doing right. At the same time, the state retains a lot of its tradition, as Elizabeth Hotson finds out at the Texas State Fair. And Sarah Carabias-Rush at the Dallas Regional Chamber explains why people are coming to Texas, and what it could mean for the state. Producer: Elizabeth Hotson.
(Picture:The "Big Tex" sign of the Texas State Fair in Dallas, Texas. Picture credit: Elizabeth Hotson.)
Transcript
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| 0:00.0 | Hello, I'm Tamerson Ford. Welcome to Business Daily from the BBC. It's the 11th largest economy in the world and growing fast. Today, we're talking all things Texan. |
| 0:16.1 | Texas is the second largest state economy in the United States. More and more companies are moving |
| 0:22.3 | from the East Coast and the West Coast to Texas to Austin, the Dallas to Houston. |
| 0:26.2 | It's not just cowboy boots and big oil in the Lone Star State. The technology industry is |
| 0:32.1 | driving incredible change. But this low-tax economy is also brimful of small businesses. We'll hear from some at the Texas |
| 0:41.3 | State Fair, and yes, there's fried butter too. His bear that one San Antonio last year brought, I think, 82,000. |
| 0:50.2 | So Caden already has a pig that sold for $80,000. Yes, ma'am. |
| 0:54.7 | I'll tell you what, he'll be a millionaire by the time he's 18. |
| 0:57.3 | He's got a great start on his college fund. |
| 0:59.6 | Yes, ma'am. |
| 1:00.9 | So how is Texas managing its diverse economy |
| 1:04.1 | and marrying traditional businesses with the cutting edge? |
| 1:08.4 | Business Daily from the BBC World Service. |
| 1:13.6 | It produces more oil than any other state in America. But at the same time, it generates more |
| 1:20.3 | renewable electricity than anywhere else in the country. Texas, the southern state that has |
| 1:27.1 | been growing at a staggering rate for decades is full of surprises |
| 1:31.7 | and contrasts. |
| 1:33.8 | Businesses big and small have been flocking to the giant state. |
| 1:38.9 | And the number of Texans is expected to double by 2050. |
| 1:43.4 | Well, Texas is the second largest state economy in the United States, just short of California. |
| 1:50.4 | More and more companies are moving from the East Coast and the West Coast to Texas to Austin, |
| 1:54.4 | to Dallas to Houston. |
... |
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