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HillCo Partners was founded by Bill Miller and Neal T. ‘Buddy’ Jones. It is a full-service consultancy company for the government and the public. The firm began in 1998 and is now among the top Texas lobbyists. 

HillCo Partners closely monitors and integrates data on the state’s current economic climate and trends. These aspects are used to evaluate Texas’s bond rating and generate an overall image of the state’s economic health. The data below was compiled to give a better picture of Texas’ current economic situation.

Labor Market Data:

As of December 2021, the state’s labor market index (LMI) was as follows:

Unemployment: 5%

13 059 600 Non-Farm Jobs

Jobs Changed: 694,400

5.6% annual growth

Texas employment grew by 3.4 percent in December, after a 7.9 percent increase in November, per the Federal Reserve Bank of Dallas. In 2021, Texas’ job growth rate was 5.1 percent, compared to the US’s 4.5 percent. These forecasts and data point to continued economic growth across the state.

State Sales Tax

In February, Texas Comptroller Glenn Hegar officially announced that January sales tax collections totaled $3.9 billion, up 25.3 percent from January 2021. The majority of December tax revenue is submitted in January. 

According to Comptroller Hegar, January state sales tax receipts surpassed the previous year’s levels in almost every major economic sector. He said that tax receipts from most sectors surpassed pre-pandemic levels, citing strong business and consumer spending. (Comptroller)

Texan Bonds:

Moody’s, Fitch, and Standard & Poor’s (S&P) rate the state’s debt repayment ability. These agencies assess the state’s investment trustworthiness and potential risks. Also, high-rated borrowers usually pay lower interest rates. Texas was rated #1 by all three agencies as of August 2021.

Texas Scores (Texas Bond Review Board) according to the three firms:

Fitch: AAA

Moody’s: Aaa

S&P: AAA

As one of the top Texas Lobbyists, HillCo partners carefully analyzes all these details and compiles them to aid in proper economic planning. The company website is www.hillcopartners.com.