A Third of the Nation’s Business Capital Investments Came from Texas Last Year
Principal Technologist Richard Simpson adjusts an igniter assembly at a lake Sandia built a few years ago to conduct the world’s largest liquefied natural gas (LNG) fire tests ever done on water.
Photo by National Nuclear Security Administration
A recent report by Ernst & Young showed that nearly one-third of the $166 billion in U.S. capital investments last year were stemming out of Texas. It’s location along the Gulf Coast seems to be a factor, with almost $46.5 billion of the total U.S. capital investments relating to new liquefied natural gas (LNG) export facilities. One such facility is the Texas LNG facility on the north shore of the Port of Brownsville, set to begin production of LNG in 2020. (See press release for Texas LNG)
Louisiana, another Golf Coast state, ranked #2 for last year’s largest amount of capital investment in the nation. The Pelican State was $14.4 short of Texas’s $48.3 billion total, coming in with $33.9 billion. However, no other states even came close to these two Gulf Coast state totals. California, Kentucky, Alabama, Ohio, Tennessee, Michigan, New York, and North Carolina were ranked #3-#10 (respectively), all with totals between just $4.3-7 billion each.
The high amount of capital investments in Texas is helping to bring jobs to the area. For example, the previously mentioned Texas LNG facility is expected to create over 600 Texan jobs related to the construction of the plant. Additionally, close to 80 full-time positions will be available for operation of the plant, once completed.
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