TEXAS TOPICS

Winston

This is the los! ul'three rcporls on lhe cconomy el'Texas-ed.

ROM 1976 to the early '80s, while experiencing an unprecedented economic boom, Texas saw the beginnings of fundamental change in its economy.

f:arlier in this century, Texas moved lrom an agricultural economy to an economy based on natural resources and heavy manufacturing. In the last decade, Texans witnessed the beginning of another fundamental shift - from an economy based on natural resources and heavy manulacturing, to an economy based on services and knowledge-based resources.

But there was another important change as well, the nationalization and globalization of the slate's economy. Texas economy no longer operates in a vacuum, if it ever did. ll is no longer immune to national and international recessions. While in the past the state relied heavily on the development and expansion of indigenous businesses to supply growth, today it must be at least as concerned with the need to compete nationally and internationally to insure its future.

Overall, the prospects are bright. By the end of this century, Texas will become the second most populous state in the nation with an economy larger and more productive than that of most countries in the world. Over 20 million people will call Texas home. Well over a million new jobs will be created. Texas will remain a leader nationally and internationally as an attractive location for business.

Texas is open for businessit never reallv closed.