(WALLER) — Texas Comptroller Glenn Hegar visited Daikin Texas Technology Park today to share the results of a study the Comptroller’s office recently completed examining the economic impact of manufacturing on the state’s economy.
Hegar toured the distribution facility of Daikin Industries, Ltd., a manufacturer of air conditioning, heating and ventilation equipment, and met with company executives. Late in 2017, Hegar wrapped up his Good for Texas Tour: Manufacturing Edition, but continues to monitor manufacturing’s contributions to the Texas economy.
“Though its main headquarters are in Japan, Daikin has a 500-acre manufacturing and distribution center right here in Waller and eventually plans to consolidate all of its U.S. plant operations at the Technology Park,” Hegar said. “Daikin actively participates in its community’s economy, partnering with Waller-area chambers of commerce to provide scholarships to college students pursuing STEM degrees.”
Texas’ machinery manufacturing products subsector, which includes Daikin, is responsible for $20.1 billion in annual exports, about 205,000 direct and indirect jobs and a $19.1 billion contribution to the state’s gross domestic product (GDP).
This subsector manufactures the heavy machinery and equipment used in agricultural, industrial, construction and mining activities, as well as general-purpose machinery such as heating and cooling units, engines and transmissions.
In all, Texas manufacturers supported 3 million direct and indirect jobs, $210.3 billion in exports and $225.8 billion in GDP in 2016. Texas manufacturing jobs pay an annual average salary of nearly $74,000.