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.
For more on this story see Texas ranks No. 1 in nation for business capital investments.
