Texas is already one of the biggest economies in the US, and it experiences consistent growth year after year. Thus, it’s no surprise that candidates often seek out a traditional MBA and an online MBA degree program in Texas. An MBA student wants a degree from a respected institution in the Lone Star State so they can reap the benefits of the university and the state.
Innovation and technology change rapidly, and only economic powerhouses like Texas can keep up.
Robust Texas Economy
With its enormous production of crude oil and natural gas-as well as businesses in information technology, aerospace, healthcare, and manufacturing-Texas is the second-largest economy in the US. In fact, if Texas were a country, it would have the 10th largest economy in the world based on gross domestic product.1 Texas also exports more than any other state with $315 billion in exported goods to locations around the globe.2 The top exported goods are petroleum, propane, computer parts, and integrated circuits. Petroleum is the fastest-growing export. Its list of trading partners include Mexico, China, Japan, and Brazil.
Opportunities for Career Growth
There aren’t many states in the US with as many career opportunities as Texas. Texas is home to 49 different Fortune 500 corporate headquarters. These corporations include ExxonMobil, AT&T, American Airlines, and Shell Oil.3 Combined, these corporate headquarters have thousands of employees, many of whom enjoy high-paying jobs in growing industries.
In addition, there are 2.4 million small businesses in Texas. This, when combined with the Fortune 500 headquarters, means that the employment opportunities are almost endless. The workforce is 14 million strong, and most expect growth to continue. The Bureau of Economic Analysis reported that Texas incomes increased by 7.5 percent in the second quarter of 2019, compared to a 5.4 percent state average.5 On top of that, you’ll find many great real estate opportunities in Texas, and you can take advantage of a lower cost of living and no state income tax.
Clear Path to Entrepreneurship
If you have dreams of entrepreneurship, Texas is the perfect place to start. With a strong economy and comfortable living environment, you’ll have everything you need to succeed.
Inc. listed the top five cities in the US for entrepreneurship, and two Texas cities made the cut. Austin came in at number one because of its high startup density. For every 1000 businesses, there are over 100 startups. And, one out of every 200 adults is an entrepreneur. As a result, there is a massive entrepreneurship network in Austin of which you can be a part.
Dallas finished number three in the list. It doesn’t have Austin’s network, but it does have the Dallas Entrepreneur Center. The center is a non-profit organization that helps entrepreneurs build and grow their businesses. It provides support and working spaces for startups. Also, at the center you’ll find funds and accelerators such as Tech Wildcatters.
Emphasis on Higher Education
One of the chief drivers of economic growth in Texas is the new focus on higher education. As part of this focus, Texas adopted the 60x30TX plan for education in 2015. The goal of the plan is to position Texas “among the highest-achieving states in the country,” by having 60 percent of the 25 to 34-year-old population in possession of a higher education degree by 2030. Currently, only 42 percent of this population has a degree.6 Since about 99 percent of new jobs go to workers who have some higher education training, the 60x30TX plan will help Texans better-adapt to this changing work environment.
SMU Cox is Integral to the Dallas Community
SMU Cox knows what it takes to become a leader in today’s business climate. Our online MBA curriculum teaches you to hone your leadership skills so you will stand out from a new generation of working professionals. SMU Cox also has unprecedented connections to the Dallas community with our wide network of industry leaders. With these partnerships come established and lasting relationships. As part of SMU Cox, you’ll have access to this network of corporate partners through our Career Management Center. This gives you the opportunity to demonstrate your abilities in front of companies looking for skilled leaders.
If you’re interested in pursuing a leadership career in Texas, consider the Online MBA program from SMU Cox. Contact us today to learn more about our unique programs.