Susan Combs Salutes Texas Veterans and Their Economic Impact

AUSTIN, November 11, 2014 - On this Veterans Day, Texas Comptroller Susan Combs is saluting the more than 1.7 million men and women who have served in the U.S. Armed Forces and make their home in Texas.

"We are proud these veterans call Texas home and will continue to provide support and opportunities to these men and women who have served our nation throughout the years," Combs said. "Veterans in Texas provide ongoing service to their local communities and represent a significant contribution to the Texas economy. This is significant in addition to the nearly $150 billion economic impact provided by military installations across the state."
There are more than 880,000 veterans employed in Texas, according to the Census Bureau. These veterans work in many different employment sectors from construction and national security to schools and hospitals.

Approximately 59 percent of veteran labor force participants in Texas were employees of private, for-profit companies in 2011. Approximately 25 percent were federal, state or local government employees, and 10 percent were self-employed.

Here are a few more ways veterans are affecting the Texas economy:

  • Nearly 200,000 businesses in the state are owned by veterans, with sales totaling more than $95 billion, according to a Census Bureau survey of business owners.
  • The estimated median income of veterans in Texas in 2013 was $38,869 — more than $12,700 higher than the median income of the total working population in Texas ($26,161).
  • According to USAA, Houston, Dallas and Austin are among the top 10 cities in the nation for veterans to find military skill related jobs.
  • The counties with the largest numbers of veterans in 2013 were Harris, Bexar, Tarrant, Dallas, Collin, Travis, El Paso, Bell, Denton and Montgomery. Over half (51 percent) of the state’s veteran population resided in these 10 counties.

For more information on veterans, the significant impact of the military and the Texas economy, go to the Comptroller website, http://www.thetexaseconomy.org/military.

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