Marcus Hiles, real estate expert and CEO of Western Rim Property Services, says that the lone star state’s policies have caused employment growth that outperforms the rest of the country. Texas achieved post-recession employment gain two years ahead of all other states. At the beginning of 2016 more than 1.3 million jobs were established, which took the state back to its pre-recession employment peak. Because Texas’ unemployment rate has been increasingly lower than in the rest of the country – earlier this year, it was 4.4 percent compared to 5 percent nationally – consumer confidence has been strong. The solid Texas economy – moved by $5 billion in tax deductions over the past three years – has also brought advantages to the housing market. The annual price of existing properties increased by almost 6 percent and the building permits for new properties has climbed as well. Read More: http://www.marketwatch.com/story/marcus-hiles—-encourages-everyone-to-follow-texas-pro-growth-policies-2016-06-24
With the gross domestic product (GDP) of USD 1,414 trillion, Texas is ahead of some of the worlds’ developed nations. As a sovereign country, it would be the world’s twelfth largest economy, by GDP. Leading property investor and developer Marcus Hiles chalks up the Lone Star state’s impressive economic portfolio to its effective policymaking strategies aimed to continually reduce government regulation and cut spending, as he calls on other states to follow Texas’ admirable example. “Over the course of past ten years, the government has created a highly favorable environment for businesses and individuals to thrive in Texas. “We have no corporate tax,” says Hiles, “and we are one of just a few states to tax no individual wage income.” Moreover, Hiles stresses that the Texas Legislature cuts spending growth each time over the course of its regular sessions.