Texas

==Economy==
{{Main|Economy of Texas}}
{{See also|Texas locations by per capita income}}
[[File:Geo Map of Income by Location in Texas (2014).png|thumb|upright=1.35|A geomap depicting income by county as of 2014]]
[[File:Texas counties by GDP 2021.png|thumb|Texas counties by GDP (2021)]]

As of 2022, Texas had a [[gross state product]] (GSP) of $2.4 trillion, the [[List of U.S. states by GDP (nominal)|second highest]] in the U.S.<ref>{{cite web|url= https://www.bea.gov/sites/default/files/2022-12/stgdppi3q22.pdf |date=December 23, 2022|title=Gross Domestic Product by State, Annual 2021-Q3|work=[[Bureau of Economic Analysis]]|access-date=June 9, 2019}}</ref> Its GSP is [[List of countries by GDP (nominal)|greater than the GDP]] of [[Economy of Italy|Italy]],  the world's 8th-largest economy.<ref name="GDP IMF">{{cite web |url=https://www.imf.org/en/Publications/WEO/weo-database/2022/October/weo-report?c=512,914,612,171,614,311,213,911,314,193,122,912,313,419,513,316,913,124,339,638,514,218,963,616,223,516,918,748,618,624,522,622,156,626,628,228,924,233,632,636,634,238,662,960,423,935,128,611,321,243,248,469,253,642,643,939,734,644,819,172,132,646,648,915,134,652,174,328,258,656,654,336,263,268,532,944,176,534,536,429,433,178,436,136,343,158,439,916,664,826,542,967,443,917,544,941,446,666,668,672,946,137,546,674,676,548,556,678,181,867,682,684,273,868,921,948,943,686,688,518,728,836,558,138,196,278,692,694,962,142,449,564,565,283,853,288,293,566,964,182,359,453,968,922,714,862,135,716,456,722,942,718,724,576,936,961,813,726,199,733,184,524,361,362,364,732,366,144,146,463,528,923,738,578,537,742,866,369,744,186,925,869,746,926,466,112,111,298,927,846,299,582,487,474,754,698,&s=NGDPD,&sy=2020&ey=2027&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 |title=World Economic Outlook Database, October 2022 |date=October 11, 2022 |publisher=[[International Monetary Fund]]}}</ref> The state ranks 22nd among U.S. states with a median household income of $64,034, while the [[Poverty in the United States|poverty rate]] is 14.2%, making Texas the state with 14th highest poverty rate (compared to 13.15% nationally). Texas's economy is the second-largest of any [[List of country subdivisions by GDP over 200 billion USD|country subdivision]] globally, behind [[Economy of California|California]].

Texas's large population, an abundance of natural resources, thriving cities and leading centers of higher education have contributed to a large and diverse economy. Since oil was discovered, the state's economy has reflected the state of the [[Energy in Texas#Petroleum|petroleum industry]].<!--elaborate; stats and major companies would be nice--> In recent times, urban centers of the state have increased in size, containing two-thirds of the population in 2005. The state's economic growth has led to [[urban sprawl]] and its associated symptoms.<ref name="economy1">{{cite web|title=Economic Geography |website=Texas Politics |publisher=University of Texas |url=http://texaspolitics.laits.utexas.edu/9_3_2.html |access-date=October 13, 2008 |url-status=dead |archive-url=https://web.archive.org/web/20090430215209/http://texaspolitics.laits.utexas.edu/9_3_2.html |archive-date=April 30, 2009 }}</ref>

As of May 2020, during the [[COVID-19 pandemic in Texas|COVID-19 pandemic]], the state's unemployment rate was 13 percent.<ref>{{cite web |title=Local Area Unemployment Statistics |url=http://www.bls.gov/web/laus/laumstrk.htm |publisher=Bureau of Labor Statistics |access-date=July 3, 2020}}</ref>

In 2010, ''Site Selection Magazine'' ranked Texas as the most business-friendly state, in part because of the state's three-billion-dollar [[Texas Enterprise Fund]].<ref name="1businessclimate">{{cite web |title=Site Selection Rankings |url=http://greyhill.com/site-selection-rankings/ |access-date=October 10, 2011}}</ref> Texas has the highest number of [[Fortune 500]] company headquarters in the United States as of 2022.<ref name="Austin 2022"/><ref name="Miranda 2022"/> In 2010, there were 346,000 millionaires in Texas, the second-largest population of millionaires in the nation.{{efn|Second to [[California]].}}<ref>{{cite news |first=Walter |last=Scott |title=Personality Parade |work=Parade Magazine |page=2 |date=May 2, 2010}}</ref> In 2018, the number of millionaire households increased to 566,578.<ref>{{cite web|title=Texas has an eye-popping number of millionaire households|url=https://dallas.culturemap.com/news/city-life/02-19-18-texas-number-of-millionaire-households-phoenix-marketing-international/|access-date=April 27, 2021|website=CultureMap Dallas|date=February 19, 2018 }}</ref>

===Taxation===
Texas has a reputation for a low tax.<ref name="TPoliticalCulture1" /> According to the [[Tax Foundation]], Texans' state and local tax burdens are seventh-lowest nationally; state and local taxes cost $3,580 per capita, or 8.4 percent of resident incomes.<ref name="TaxFound">{{cite web |title=Texas |website=Research Areas |publisher=The Tax Foundation |year=2010 |url=http://www.taxfoundation.org/research/topic/60.html |access-date=October 15, 2010 |archive-date=October 23, 2008 |archive-url=https://web.archive.org/web/20081023002226/http://www.taxfoundation.org/research/topic/60.html |url-status=dead }}</ref> Texas is one of seven states that lack a [[state income tax]].<ref name="TaxFound" /><ref name="incometax">{{cite web |title=State Individual Income Taxes |publisher=Federation of Tax Administrators |url=http://www.taxadmin.org/fta/rate/ind_inc.html |access-date=October 12, 2008 |archive-url=https://web.archive.org/web/20081003052903/http://www.taxadmin.org/fta/rate/ind_inc.html<!--Added by H3llBot-->|archive-date=October 3, 2008}}</ref>

Instead, the state collects revenue from [[property tax]]es (though these are collected at the county, city, and school district level; Texas has a state constitutional prohibition against a state property tax) and [[sales tax]]es. The state sales tax rate is 6.25 percent,<ref name="TaxFound" /><ref>{{cite web |url=http://alltaxtips.com/why-does-texas-taxus-have-the-highest-property-taxes-and-3rd-highest-sales-tax/ |title=Why does Texas (Taxus) have the highest property taxes and 3rd highest sales tax? |website=Alltaxtips.com |date=May 9, 2011 |access-date=August 15, 2011 |archive-url=https://web.archive.org/web/20110707114602/http://alltaxtips.com/why-does-texas-taxus-have-the-highest-property-taxes-and-3rd-highest-sales-tax/ |archive-date=July 7, 2011 |url-status=dead }}</ref> but local taxing jurisdictions (cities, counties, special purpose districts, and transit authorities) may also impose sales and use tax up to 2{{nbsp}}percent for a total maximum combined rate of 8.25 percent.<ref>{{cite web |url=http://www.window.state.tx.us/taxinfo/sales/faq_collect.html |title=FAQ: Texas Sales Tax |website=Window.state.tx.us |access-date=January 10, 2011}}</ref>

Texas is a "tax donor state"; in 2005, for every dollar Texans paid to the federal government in [[Income tax in the United States|federal income taxes]], the state got back about $0.94 in benefits.<ref name="TaxFound" /> To attract business, Texas has incentive programs worth $19 billion per year (2012); more than any other U.S. state.<ref>{{cite news|url=https://www.nytimes.com/2012/12/03/us/winners-and-losers-in-texas.html |title=Lines Blur as Texas Gives Industries a Bonanza|first=Louise|last=Story|work=[[The New York Times]]|date=December 1, 2012}}</ref><ref>{{cite news|url=https://www.nytimes.com/interactive/2012/12/01/us/government-incentives.html#TX |title=United States of Subsidies, Texas|work=The New York Times|date=December 1, 2012}}</ref>

===Agriculture and mining===
[[File:West Texas Cotton.jpg|right|thumb|Cotton modules after harvest in West Texas]]
[[File:Oil well.jpg|thumb|An oil well]]
[[File:GreenMountainWindFarm Fluvanna 2004.jpg|right|thumb|[[Brazos Wind Farm]]]]
[[File:Longhorn cattle at the Enchanted Springs Ranch, a working ranch in Boerne, Texas, whose Old West Town is often used in movies and videos LCCN2015630429.tif|thumb|[[Texas longhorn]] cattle in [[Boerne, Texas]]]]

Texas has the most farms and the highest acreage in the United States. The state is ranked {{Numero|1}} for revenue generated from total livestock and livestock products. It is ranked {{Numero|2}} for total agricultural revenue, behind California.<ref name="netstateecon">{{cite web |title=The Texas Economy |website=netstate.com |date=June 5, 2007 |url=http://www.netstate.com/economy/tx_economy.htm |access-date=April 29, 2008}}</ref> At $7.4 billion or 56.7 percent of Texas's annual agricultural cash receipts, beef cattle production represents the largest single segment of Texas agriculture. This is followed by cotton at $1.9 billion (14.6 percent), greenhouse/nursery at $1.5 billion (11.4 percent), [[broiler chicken]]s at $1.3 billion (10 percent), and dairy products at $947 million (7.3 percent).<ref name=EMMA2013>{{cite web|author=Electronic Municipal Market Access|author-link=Electronic Municipal Market Access|title=Appendix A|website=The State of Texas|publisher=[[Municipal Securities Rulemaking Board]] (MSRB)|year=2013|url=http://emma.msrb.org/EA509022-EA396584-.pdf|access-date=October 23, 2016}}</ref>

Texas leads the nation in the production of cattle, horses, sheep, goats, wool, mohair and hay.<ref name=EMMA2013/> The state also leads the nation in production of cotton which is the number one crop grown in the state in terms of value.<ref name="netstateecon" /><ref>{{cite web |last=Carmack |first=Liz |title=The Legacy of 'King Cotton' |url=http://www.county.org/magazine/departments/historicalhighlights/Pages/The-Legacy-of-King-Cotton.aspx |website=County |publisher=Texas Association of Counties |access-date=July 23, 2015 |date=June 21, 2013 |archive-date=July 23, 2015 |archive-url=https://web.archive.org/web/20150723131128/http://www.county.org/magazine/departments/historicalhighlights/Pages/The-Legacy-of-King-Cotton.aspx |url-status=dead }}</ref><ref>{{cite web |title=Crop Production: 2014 Summary |url=http://usda.mannlib.cornell.edu/usda/nass/CropProdSu//2010s/2015/CropProdSu-01-12-2015.pdf |publisher=United States Department of Agriculture |access-date=July 23, 2015 |pages=48–49}}</ref> The state grows significant amounts of cereal crops and produce.<ref name="netstateecon" /> Texas has a large commercial fishing industry. With mineral resources, Texas leads in creating cement, crushed stone, lime, salt, sand and gravel.<ref name="netstateecon" /> Texas throughout the 21st century has been [[Drought in the United States|hammered by drought]], costing the state billions of dollars in livestock and crops.<ref name=TexasReuters>{{cite news |last=Marsh |first=Wendell |title=No relief in sight for Texas heat and drought |url=https://www.reuters.com/article/us-weather-idUSTRE7745CG20110805 |access-date=January 13, 2013 |work=Reuters |date=August 5, 2011 |archive-date=March 8, 2013 |archive-url=https://web.archive.org/web/20130308010200/http://www.reuters.com/article/2011/08/05/us-weather-idUSTRE7745CG20110805 |url-status=live}}</ref>

===Energy===
{{see also|Deregulation of the Texas electricity market|Economy of Texas#Energy}}
Ever since the discovery of oil at [[Spindletop]], energy has been a dominant force politically and economically within the state.<ref name="AlmanacOil">{{cite web |last=Ramos |first=Mary G. |url=http://texasalmanac.com/topics/business/oil-and-texas-cultural-history |title=Oil and Texas: A Cultural History |access-date=July 3, 2018 |website=Texas Almanac 2000–2001 |publisher=The Texas State Historical Association|date=November 29, 2017}}</ref> If Texas were its own country it would be the sixth-largest oil producer in the world according to a 2014 study.<ref>{{cite news |title=The 10 Most Oil-Rich States |author=Alexander Kent |newspaper=24/7 Wall Street |date=July 28, 2014 |url=http://247wallst.com/special-report/2014/07/28/the-10-most-oil-rich-states/4/ |access-date=August 5, 2014}}</ref>

The [[Railroad Commission of Texas]] regulates the state's [[oil industry|oil and gas industry]], gas utilities, pipeline safety, safety in the [[liquefied petroleum gas]] industry, and surface coal and [[uranium]] mining. Until the 1970s, the commission controlled the price of petroleum because of its ability to regulate Texas's oil reserves. The founders of the [[Organization of Petroleum Exporting Countries]] (OPEC) used the Texas agency as one of their models for petroleum price control.<ref name="RRcommission">{{cite Handbook of Texas |id=mdr01 |title=Railroad Commission |first=David F. |last=Prindle |date=June 15, 2010}}</ref>

As of January 1, 2021, Texas has [[Oil and gas reserves and resource quantification|proved recoverable petroleum reserves]] of about {{convert|15.6|Goilbbl|m3}} of [[Petroleum|crude oil]] (44% of the known U.S. reserves) and {{convert|9.5|Goilbbl|m3}} of [[Natural-gas condensate|natural gas liquids]].<ref name="Petrol" /><ref name=":3">{{Cite web |title=Texas Profile |url=https://www.eia.gov/state/print.php?sid=TX |access-date=2023-02-14 |website=eia.gov}}</ref> The state's [[Oil refinery|refineries]] can process {{convert|5.95|Moilbbl|m3}} of oil a day.<ref name="Petrol" /><ref name=":3" /> The [[Port Arthur Refinery]] in Southeast Texas is the largest refinery in the U.S.<ref name="Petrol" /> Texas is also a leader in [[natural gas]] production at {{convert|28.8|Gcuft|m3}} per day, some 32% of the nation's production.<ref>{{Cite web|url=https://www.rrc.texas.gov/oil-and-gas/research-and-statistics/production-data/texas-monthly-oil-gas-production/|title=Texas Monthly Oil & Gas Production|website=rrc.texas.gov}}</ref> Texas has {{convert|102.4|Tcuft|m3}} of gas reserves which is 23% of the nation's gas reserves.<ref name="Petrol" /><ref name=":3" /> Many [[List of petroleum companies|petroleum companies]] are based in Texas such as: [[ConocoPhillips]],<ref>{{cite web|title=Contact Us|url=https://www.conocophillips.com/contact-us/|access-date=December 28, 2020|website=ConocoPhillips}}</ref> [[EOG Resources]], [[ExxonMobil]],<ref>{{cite web|title=Contact us directory|url=https://corporate.exxonmobil.com:443/Company/Contact-us/Directory|access-date=December 28, 2020|website=ExxonMobil}}</ref> [[Halliburton]],<ref>{{cite web|title=Corporate Officers – Halliburton|url=https://www.halliburton.com/en-US/about-us/corporate-governance/corporate-officers.html|access-date=December 28, 2020|website=halliburton.com}}</ref> Hilcorp, [[Marathon Oil]],<ref>{{cite web|title=Contact Us|url=https://www.marathonoil.com/about/contact-us/|access-date=December 28, 2020|website=Marathon Oil|language=en-US}}</ref> [[Occidental Petroleum]],<ref>{{cite web |title=Contact Us |url=https://www.oxy.com/Information/Pages/Contact-Us.aspx |access-date=December 28, 2020 |website=oxy.com}}</ref> [[Pioneer Natural Resources]], [[Tesoro Corporation|Tesoro]],<ref>{{cite web|title=Tesoro Headquarters Building I, San Antonio |url=https://www.emporis.com/buildings/308726/tesoro-headquarters-building-i-san-antonio-tx-usa|access-date=December 28, 2020|website=emporis.com}}</ref> [[Valero Energy]],<ref>{{cite web|title=Contact Us|url=https://www.valero.com/contact-us|access-date=December 28, 2020|website=Valero}}</ref> and [[Western Refining]].<ref>{{cite web|title=Western Refining|url=https://www.dnb.com/business-directory/company-profiles.western_refining_inc.eb51b8a369f31725ac87f78225d4ff95.html|access-date=December 28, 2020|website=dnb.com}}</ref>

According to the [[Energy Information Administration]], Texans consume, on average, the fifth most energy (of all types) in the nation per capita and as a whole, following behind Wyoming, Alaska, Louisiana, North Dakota, and Iowa.<ref name="Petrol">{{cite web |title=Petroleum Profile: Texas |publisher=Energy Information Administration |url=http://tonto.eia.doe.gov/state/state_energy_profiles.cfm?sid=TX |access-date=December 13, 2008 |archive-url=https://web.archive.org/web/20110204233946/http://tonto.eia.doe.gov/state/state_energy_profiles.cfm?sid=TX |archive-date=February 4, 2011 |url-status=dead}}</ref>

Unlike the rest of the nation, most of Texas is on its own [[alternating current]] [[power grid]], the [[Texas Interconnection]]. Texas has a [[Deregulation of the Texas electricity market|deregulated]] electric service. Texas leads the nation in total net electricity production, generating 437,236 MWh in 2014, 89% more MWh than Florida, which ranked second.<ref>{{cite web |title=Texas State Energy Profile: Electricity |url=http://www.eia.gov/state/print.cfm?sid=TX |publisher=U.S. Energy Information Administration |access-date=July 23, 2015 |quote=Texas produces more electricity than any other state, generating almost twice as much as the next largest generating state.}}</ref><ref>{{cite web |title=Electricity Data Browser: Net generation from electricity plants for all fuels, annual |url=https://www.eia.gov/electricity/data/browser/#/topic/0 |publisher=[[Energy Information Administration]]}}</ref>

The state is a leader in [[renewable energy commercialization]]; it produces the most [[wind power in Texas|wind power]] in the nation.<ref name="Petrol" /><ref name="wind2">{{cite web |last=Souder |first=Elizabeth |title=Texas leads nation in wind power capacity |website=The Dallas Morning News |date=January 2008 |url=http://www.dallasnews.com/sharedcontent/dws/dn/latestnews/stories/011808dnbuswindpower.30c78959.html |access-date=January 19, 2008 |archive-date=December 2, 2010 |archive-url=https://web.archive.org/web/20101202012437/http://www.dallasnews.com/sharedcontent/dws/dn/latestnews/stories/011808dnbuswindpower.30c78959.html |url-status=dead }}</ref> In 2014, 10.6% of the electricity consumed in Texas came from [[wind turbine]]s.<ref>{{cite news |url=https://huffingtonpost.com/stacy-clark/hold-onto-your-bonnets-br_b_7596854.html |title=Hold Onto Your Bonnets! Breezes and Sunshine to Power Georgetown, TX |first=Stacy |last=Clark |work=Huffington Post |date=December 6, 2017}}</ref> The [[Roscoe Wind Farm]] in [[Roscoe, Texas]], is one of the world's largest [[wind farm]]s with a 781.5 [[megawatt]] (MW) capacity.<ref name="RoscoeWind">{{cite news |last=O'Grady |first=Eileen |title=E.ON completes world's largest wind farm in Texas |url=https://www.reuters.com/article/idUSN3023624320091001 |access-date=August 26, 2010 |work=Reuters |date=October 1, 2009}}</ref> The Energy Information Administration states the state's large agriculture and forestry industries could give Texas an enormous amount of [[biomass]] for use in biofuels. The state also has the highest [[solar power]] potential for development in the U.S.<ref name="Petrol" />

===Technology===
[[File:NASA Neutral Buoyancy Laboratory Astronaut Training.jpg|thumb|Astronaut training at the [[Johnson Space Center]] in [[Houston]]]]
With large universities systems coupled with initiatives like the Texas Enterprise Fund and the [[Texas Emerging Technology Fund]], a wide array of different [[high tech]] industries have developed in Texas. The Austin area is nicknamed the "[[Silicon Hills]]" and the north Dallas area the "[[Silicon Prairie]]". Many high-tech companies are located in or have their headquarters in Texas (and [[List of companies based in Austin, Texas|Austin in particular]]), including [[Dell]], Inc.,<ref>{{cite web|last=Kanellos|first=Michael|title=Dell shifts base back to Round Rock|url=https://www.cnet.com/news/dell-shifts-base-back-to-round-rock/|access-date=December 28, 2020|website=CNET}}</ref> [[Borland]],<ref>{{cite web|last=Clarke|first=Gavin|title=Borland bails out of California, moves HQ to Austin, TX|url=https://www.theregister.com/2007/04/17/borland_leaves_valley/|access-date=December 28, 2020|website=theregister.com}}</ref> [[Forcepoint]],<ref>{{cite web|date=February 6, 2014|title=Websense gets $4.5M to move to Texas|url=https://www.sandiegouniontribune.com/business/economy/sdut-texas-austin-perry-jobs-economy-websense-2014feb06-htmlstory.html|access-date=December 28, 2020|website=[[The San Diego Union-Tribune]]|language=en-US}}</ref> [[Indeed.com]],<ref>{{cite web|title=Indeed opens new North Austin office, 1,000 new jobs planned|url=https://www.kvue.com/article/money/business/indeed-opens-new-north-austin-office-1000-new-jobs-planned/269-67902537|access-date=December 28, 2020|website=kvue.com|date=March 4, 2016 |language=en-US}}</ref> [[Texas Instruments]],<ref>{{Cite web|last=McKellop|first=Mario|date=May 26, 2020|title=Texas Instruments starts construction on Dallas plant|url=https://www.theburnin.com/industry/texas-instruments-begins-construction-dallas-factory-2020-5/|access-date=December 28, 2020|website=The Burn-In|language=en-US}}</ref> [[Perot Systems]],<ref>{{cite web|title=Dell sells Perot Systems IT services division to Dallas firm|url=https://www.bizjournals.com/dallas/blog/techflash/2016/03/dell-sells-perot-systems-it-services-division-to.html#:~:text=NTT%20Data%20Corp.%20has%20inked,in%20the%20works%20last%20month.&text=John%20McCain,%20CEO%20of%20NTT,will%20lead%20the%20combined%20company.|access-date=December 28, 2020|website=bizjournals.com}}</ref> [[Rackspace]] and [[AT&T]].<ref>{{cite web|date=July 21, 2014|title=Rackspace to Move into Former Texas Shopping Mall … Again|url=https://www.datacenterknowledge.com/archives/2014/07/21/rackspace-to-use-another-texas-mall-as-office-real-estate|access-date=December 28, 2020|website=Data Center Knowledge}}</ref><ref>{{cite news|agency=[[Associated Press]]|date=June 30, 2008|title=AT&T Making a Move (Published 2008)|language=en-US|work=The New York Times|url=https://www.nytimes.com/2008/06/30/technology/30phone.html|access-date=December 28, 2020|issn=0362-4331}}</ref><ref>{{cite web|title=AT&T to move headquarters to Dallas|date=June 27, 2008 |url=https://www.nbcnews.com/id/wbna25417174|access-date=December 28, 2020|publisher=[[NBC News]]}}</ref>

The [[National Aeronautics and Space Administration]]'s [[Lyndon B. Johnson Space Center]] (NASA JSC) is located in Southeast Houston. Both [[SpaceX]] and [[Blue Origin]] have their test facilities in Texas.<ref name="spacex about">{{cite web |url=http://www.spacex.com/about/capabilities |title=Capabilities & Services |work=SpaceX |access-date=April 14, 2016 |archive-url=https://web.archive.org/web/20160404042653/http://www.spacex.com/about/capabilities |archive-date=April 4, 2016 |url-status=live }}</ref><ref name="Amazon1">{{cite news |url=http://www.nbcnews.com/id/6822763|title=Amazon founder unveils space center plans|work=NBC News|date=January 13, 2006|author=Boyle, Alan|access-date=June 28, 2006}}</ref> [[Fort Worth, Texas|Fort Worth]] hosts both [[Lockheed Martin]]'s [[Lockheed Martin Aeronautics|Aeronautics division]] and [[Bell Helicopter Textron]].<ref name="LM1">{{cite web |title=Locations |publisher=Lockheed Martin |access-date=May 22, 2008 |url=http://www.lockheedmartin.com/aeronautics/about/Locations.html |archive-url=https://web.archive.org/web/20080422122219/http://www.lockheedmartin.com/aeronautics/about/Locations.html<!--Added by H3llBot-->|archive-date=April 22, 2008}}</ref><ref name="Bell">{{cite web |title=About Bell Helicopter |publisher=Bell Helicopter |access-date=May 22, 2008 |url=http://www.bellhelicopter.com/en/company/ |archive-url=https://web.archive.org/web/20080602032048/http://www.bellhelicopter.com/en/company/ |archive-date=June 2, 2008 |url-status=dead }}</ref> Lockheed builds the [[F-16 Fighting Falcon]], the largest Western fighter program, and its successor, the [[F-35 Lightning II]] in Fort Worth.<ref name="Downside">{{cite news |last=Rosenwald |first=Michael S. |date=December 17, 2007 |title=Downside of Dominance? |newspaper=[[The Washington Post]]|url=https://www.washingtonpost.com/wp-dyn/content/article/2007/12/16/AR2007121601522.html |access-date=May 22, 2008}}</ref>

===Commerce===
Texas's [[Affluence in the United States|affluence]] stimulates a strong commercial sector consisting of retail, wholesale, banking and insurance, and construction industries. Examples of Fortune 500 companies not based on Texas traditional industries are [[AT&T Inc|AT&T]], [[Kimberly-Clark]], [[Blockbuster Inc.|Blockbuster]], [[J. C. Penney]], [[Whole Foods Market]], and [[Tenet Healthcare]].<ref name="fortune500_2">{{cite magazine |title=Texas |magazine=[[Fortune (magazine)|Fortune Magazine]] |date=April 30, 2007 |url=https://money.cnn.com/magazines/fortune/fortune500/2007/states/TX.html |access-date=May 3, 2008}}</ref>

Nationally, the Dallas–Fort Worth area, home to the [[Highland Park Village|second shopping mall]] in the United States, has the most shopping malls per capita of any American metropolitan statistical area.<ref name="VisitDallas_Shopping">{{cite web |title=Dallas Shopping |publisher=Dallas Convention & Visitors Bureau |url=http://www.visitdallas.com/things-to-do/shopping/index.html |access-date=June 26, 2016}}</ref>

Mexico, the state's largest trading partner, imports a third of the state's exports because of the [[North American Free Trade Agreement]] (NAFTA). NAFTA has encouraged the formation of [[maquiladoras]] on the Texas–Mexico border.<ref name="economy2">{{cite web|title=Recent Economic Transformations |website=Texas Politics |publisher=University of Texas |url=http://texaspolitics.laits.utexas.edu/9_3_3.html |access-date=October 13, 2008 |url-status=dead |archive-url=https://web.archive.org/web/20090430110703/http://texaspolitics.laits.utexas.edu/9_3_3.html |archive-date=April 30, 2009 }}</ref>