Texas has been ranked the top exporting state in 2010 for the ninth year in a row, according to data released by the U.S. Department of Commerce, signaling Texas' ongoing role in leading the nation toward economic recovery.
"Texas' ranking as the nation's top exporter for nine years running is a testament to our strong economy and the importance of upholding low taxes, reasonable regulations, a fair legal system and an equipped workforce," Gov. Perry said. "Although Texas has not been immune to the global recession, our commitment to these priorities has helped make us the best place to live, work and raise a family, and businesses looking to escape over-taxation and over-regulation know they can come to Texas for a better chance at success."
Texas' exports in 2010 totaled more than $206.6 billion, up 26.7 percent from $162.9 billion in 2009, outperforming overall U.S. exports, which grew by 20.9 percent in 2010. The state's top export recipients were Mexico, Canada, China, Brazil and South Korea, which respectively imported $72.3 billion, $18.6 billion, $10.2 billion, $7.1 billion and $6.4 billion in Texas-manufactured goods. Additionally, Texas' top exporting industries in 2010 were computers and electronics, chemicals, petroleum and coal, machinery, and transportation equipment.
Gov. Perry will continue working with lawmakers to pursue policies that will keep Texas the most job-friendly state in the nation and bolster its competitive edge within the national and global economies. His top priority is to keep Texas living within its means by balancing the state budget without raising taxes on hardworking Texans. He has also called for continued funding for the Texas Enterprise Fund, which has helped create more than 56,000 new Texas jobs and generate $14.7 billion in capital investment, and continued funding for the Texas Emerging Technology Fund, which has attracted top researchers to Texas universities, strengthened the state's technology industries, and helped foster an environment of innovation in Texas.
Additionally, to ensure employers can focus more of their hard-earned dollars on creating jobs and growing their businesses, Gov. Perry will work to make permanent the small business tax cut that eased the tax burden for more than 40,000 small business owners in 2009, and implement stronger protections against frivolous lawsuits. He has proposed creating a "loser pays" system so that plaintiffs who file frivolous lawsuits are required to pay the defendant's legal bills; establishing an early dismissal option for frivolous lawsuits; ensuring new laws cannot create causes of action unless expressly established by the Legislature; and setting up expedited trials and limited discovery for lawsuits with claims between $10,000 and $100,000.
Texas continues to outperform the rest of the nation in job creation, maintaining an unemployment rate a point lower than the national average, creating more jobs in 2010 than any other state, and achieving a job growth rate in 2010 nearly double that of any other top ten state.
Texas' economy also continues to receive national recognition. Newsweek recently ranked four Texas cities in its list of 10 cities best situated for economic recovery, and described Texas as the top destination for job-seeking Americans. The Wall Street Journal recently credited the state's low taxes and employer-friendly environment with helping make Texas the job creation capital of the nation. Standard & Poor's issued a report in October affirming Texas' status as a national economic leader and touting the policies that made Texas one of the last states to fall into the national recession, and the first leading the way out. Texas also remains home to more Fortune 1000 companies than any other state.