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Governor Greg Abbott today celebrated the Texas economy expanding faster than the nation in 2023 following the release of data by the Bureau of Economic Analysis (BEA). The Texas economy expanded at an annual rate of 7.4% while the nation expanded at 2.9% as measured by the change in real gross domestic product (GDP) from 2022 to 2023.

鈥淭he Texas economy continues to expand thanks to the Best Business Climate and the strongest workforce in America,鈥� said Governor Abbott. 鈥淭exas is a state of infinite possibilities, where innovation flourishes and where hard work is rewarded. As the eighth-largest economy in the world, it is easy to understand why more people and businesses are choosing to call Texas home鈥攁nd why more Texans are employed than at any point in our state鈥檚 history. Through continued investments in workforce training, innovation, education, and infrastructure, we will build a bigger, better Texas for decades to come.鈥�