Texas is a state that is home to a wide range of industries, from computer and electronic products to motor vehicles and parts manufacturing, food and technology hardware and software. These sectors form the economic backbone of the state, providing the majority of jobs and incomes. To gain a better understanding of the economy, it is important to examine the basic industries. According to the chamber's economic development guide, there are 59 employers in the financial sector. The financial and insurance sector has seen particularly strong growth, with a 4.0 percent increase in employment due to a 5.1 percent rise in insurance companies and related activities.
EZCORP is the market leader in the specialty consumer finance sector, providing short-term cash solutions for those with cash and credit problems. IBC has subsidiaries in the insurance, investment banking and mortgage lending sectors. In Dallas-Fort Worth, finance and insurance jobs are booming, accounting for 7.1 percent of private employment in October compared to 4.9 percent nationwide. Allegiance Bank is dedicated to meeting the financial needs of small and medium-sized businesses in the Houston area. The Dallas Federal Reserve serves the Eleventh Federal Reserve District, which includes Texas, northern Louisiana and southern New Mexico. It has a long history of financing agriculture and rural areas in the United States due to its cooperative structure and other business advantages.
Technology and start-ups are disrupting the financial sector, resulting in job cuts in some areas. The Texas Film Commission provides additional information on the Texas film, television, commercial and video game industries. In the 12 months ending in October, the Dallas-Fort Worth metropolitan area added 9,300 finance and insurance jobs, an increase of 4.1 percent. Internet-based business models have become essential for finance and insurance as well as many other industries.
