Texas Leads the Nation In Manufacturing Exports and Shipment Value
The advanced tech and manufacturing industry in Texas is thriving. Texas ranks number one in the country for manufacturing exports and shipment value. In 2014, Texas exported over $23.3 billion worth of transportation equipment only.
Texas manufacturing overall employs close to 874,450 people at an average salary of $71,500. Here is a breakdown of the manufacturing workforce in Texas:
The manufacturing industry continues to be a top performer when it comes to R&D. It was the number one industry to receive the R&D tax credit in 2012 generating $6.7 billion in credit claims.
Texas is a hub for R&D with industries such as manufacturing, biotech, energy, aerospace and aviation creating the majority of its workforce.
If your company is conducting R&D in Texas and would like to know more about claiming the federal or state R&D tax credit, please contact a Texas R&D Tax Credit Solutions specialist.