If Texas were a separate country, it would claim the twelfth largest gross domestic product (GDP) worldwide. Businessman and developer, Marcus Hiles is assured that the state’s success comes from its dedication to government deregulation and lower spending, and understands the beneficial outcomes if the rest of the nation to follow Texas’ lead. Over the past decade, the lone star state has established an atmosphere favorable for corporate and individuals to prosper. Mr. Hiles attributes the success to the lack of business or personal income tax in Texas, as well as the Legislature working to curb spending growth. Read More: http://www.marketwatch.com/story/marcus-hiles—-encourages-everyone-to-follow-texas-pro-growth-policies-2016-06-24
Based in Dallas, the founder and CEO of Western Rim Property Services Marcus Hiles endorses Texas for having policies that have stimulated a steady job-generating environment that is more outstanding than anywhere else in the United States. In general, the Lone Star State has made a great progress in its post-recession job recovery more than two years ahead of nationwide indicators. By January 2016, it had created more than 1.3 million jobs, in addition to its pre-recession employment records. Since the unemployment rate has always been lower in Texas than in the rest of the United States, constituting 4.4 percent in April versus 5 percent nationwide – consumer confidence has been sturdy. Texas’s May Consumer Confidence Index (CCI), which looks to measure economic optimism by analyzing individual savings and spending habits, was 117.6 in comparison with the overall U.S. CCI rating of 92.6. Texas robust economy that has seen over $5 billion in tax cuts over the past years has also stimulated the housing market. Existing homes have seen an increase in price by 5.9 percent in comparison with previous years, while the number of single-family residences grew by 6 percent.