On November 20, Texas Governor Greg Abbott remotely closed the NASDAQ trading day from the Governor's Mansion in Austin, a nod to the state's economic prosperity as stated in a press release. Governor Abbott was accompanied by Texas First Lady Cecilia Abbott, NASDAQ’s Executive Vice Chairman Ed Knight, and the Head of Listing, Karen Snow.
Governor Abbott said, “Texas is the home of innovation, freedom, and opportunity,” said Governor Abbott. “With an annual GDP of $2.4 trillion—the eighth-largest economy in the entire world—and more Fortune 500 companies than any other state in the nation, we are America’s economic juggernaut. As so many business owners in our great state know, Texas is the modern embodiment of the American dream. One thing is clear, 187 years after Texas was founded, there has never been a better time to be a Texan.” as stated in The Office of the Texas Governor Official website.
In recent years, Texas has demonstrated significant economic growth nationally and globally. Currently leading in job creation among U.S. states, this growth has spanned across various sectors, including technology, finance, professional services, and construction.
The economic surge in Texas is partially due to the state’s business-friendly climate, which is characterized by a reasonably low corporate tax rate and a talent-rich workforce fostered by its top-quality educational institutions. Additionally, the state's favorable climate and cost of living have contributed to its growing appeal for both businesses and individuals.
