Here are four things to know:
1. The $1.6 trillion Texas economy has been powered in part by a 60 percent price increase of West Texas Intermediate Crude Oil to more than $70 per barrel.
2. Texas has added more than 350,000 jobs in the past year, meaning that one in seven jobs created in the U.S. in the past year came from the state.
3. “The Texas economy remains in a broad-based expansion,” said Dallas Federal Reserve economists Christopher Slijk and Jason Saving, PhD, according to CNBC. “The state’s energy sector continues to boom, and areas of the state tied to oil and gas are growing at their strongest pace since 2014.”
4. Thirty-nine companies from the S&P 500 are based in Texas, including AT&T, ExxonMobil and Texas Instruments.
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