Economy of Texas
Astronaut training at Texas' Johnson Space Center.
As of 2010, Texas had a gross state product (GSP) of $1.207 trillion, the second highest in the U.S.[128] Its GSP is comparable to the GDP of India or Canada, which are the world's 12th- and 11th-largest economies, respectively. Texas' economy is the fourth-largest of any country subdivision globally, behind England (as part of the UK), California, and Tokyo Prefecture. Its Per Capita personal income in 2009 was $36,484, ranking 29th in the nation. Texas's large population, 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 petroleum industry. 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.[129]
As of July 2011, the state's unemployment rate is 8.4%.[130]
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