Space race taking Texas economy to new heights - Dallas Business Journal

In addition to being a key state for the nation's space cowboys, Texas also has two FAA-licensed spaceports, the Houston Spaceport and the Midland International Air and Space Port., PwC's global aerospace and defense leader and the author of the report."Our report references that 18 of the top 20 aerospace and defense companies have operations in Texas. But I would also point to the fact that the space industry is growing considerably.

Thompson said forecasts calculate the space sector, currently outpacing the global gross domestic product in relative growth, will triple in the next decade to become an industry with more than a trillion dollars in annual economic activity.He said the state’s strong overall economy, business-friendly tax landscape, educated workforce, geography, weather and historic ties to aviation and spaceflight are key factors in making the determination.

"I think the prospects for Texas' growth in aerospace and defense are extremely, extremely bright," Thompson said. The review also determined that Texas ranks third in the nation in aerospace product and part manufacturing firms and second in exports, valued at $8.4 billion in 2022. On the international level, the U.S. came in second following Singapore and preceding Canada. The determination was made by analyzing cost, labor, infrastructure and tax policy.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Texas lawmakers want to strip cities of some business regulations - Dallas Business JournalSometimes Texas lawmakers push hard for local control. Other times, they strive to take control away from locals. This is a case of the latter. Conservative lawmakers aim to bring employment regulations to the state level to end a 'patchwork' of varying rules across the state. Austin, for instance, requires things of employers other cities don't.
Source: DallasBizNews - 🏆 525. / 51 Read more »

Small-business grants: From Mastercard's Fearless Strivers to FedEx's Small Business Grant Program, here are grants you can apply for right now - San Francisco Business TimesCovid-19 relief programs may have exhausted their funds, but there are still grant programs and tax breaks small businesses can take advantage of in 2023.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »