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Texas Keeps 9 Percent Share of U.S. Economy, GDP Growth Ranked Sixth in Country

Monday, September 17, 2018

Mining, quarrying, and oil and gas extraction is a significant factor in the 2.9 percent growth of Texas’ gross domestic product growth this year, according to the U.S. Bureau of Economic Analysis. 

report on the first quarter of 2018 ranks Texas as having the sixth most substantial growth in GDP, behind Washington, Utah, South Dakota, Colorado, and Wyoming.

Texas has the second-largest share of the entire U.S. economy, following California. Texas began 2017 with 8.7 percent of the country’s overall economy, rising to 8.9 percent during the first quarter of 2018.

Texas has seen gains in professional, scientific, and technical services, transportation and warehousing, real estate, and both durable and nondurable goods manufacturing.

Industries seeing a lower GDP in Texas are agriculture, forestry, fishing, and hunting, as well as utilities.

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Serving Up Sweet and Spicy in the Guadalupe Valley

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Adams Extract made the Red Velvet Cake a household name across America in the 1920’s when it first served consumers its red dye for this infamous recipe. In the 1950’s, they had another first introducing the 4-pack of food coloring. After 125 years, this major manufacturer operates out of a 90,000 square foot facility in Gonzales, TX and continues to serve up sweet and spicy goodness to families under over 13 brand names.