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In reply to the discussion: 'California is looking at our backside,' Texas Gov. Rick Perry says in San Francisco [View all]erpowers
(9,350 posts)I understand that Perry probably does not care about the facts, but they do not support his case. Based on the facts, California is far from looking at Texas's "backside".
Yes, Texas' unemployment rate is 6.1 percent while California's unemployment rate is 9.8 percent. Also, housing prices are much higher in California than in Texas. However, that is where the advantage ends for Texas.
According to the article, California has a 3-to-2 companies advantage over Texas. More California residents have college degrees. The median household income is 21 percent higher in California. There are fewer people below the poverty level in California. In the fourth quarter, the Bay Area of California alone had 12 times ($2.5 billion) the venture capital funding of the ENTIRE state of Texas. Finally, even though California companies such as Apple, Facebook, eBay, Visa, and Chevron have either relocated to Texas or expanded their operations in Texas, a number of companies in Texas have expanded in California. Texas Instruments, Dell, and Samsung have all made investments in California. Yes, according to the article, five companies in California have either relocated to Texas or expanded in Texas while only three companies in Texas have expanded in California. However, that fact is not that bad for California in that California holds a 3-to-2 companies margin over Texas. So, California is still doing fairly well to say the least.