Why Should You Invest In Texas?

Texas cities dominate a new list of the best places for jobs, with the top five large metropolitan areas for job growth all located in the Lone Star State, according to Forbes magazine.

Nine of the top 20 cities on Forbes' overall list are in Texas, with Odessa ranked No. 1.

Dallas-Plano-Irving ranked No. 5 in the magazine's list of the best large-size cities and 32nd overall.

The study is based on job growth in 333 regions across the U.S. The analysis looked not only at job growth in the last year but also at how employment figures have changed since 1996.

Given the current state of the economy, Forbes says that "this year perhaps we should call the rankings not the 'best' places for jobs, but the 'least worst.' "

Dallas, for example, has actually seen total jobs decline by 0.1 percent since 2007, according to Forbes.

Forbes said the reasons for the state's relative success are varied: "A healthy energy industry is certainly one cause. Many Texas highfliers, including Odessa, Longview, Dallas and Houston, are home to energy companies that employ hordes of people – and usually at fairly high salaries."

Texas also experienced a less-severe housing crisis than other parts of the country. Other factors include lower costs and taxes.

In Dallas, the biggest gains came from government (3.4 percent) and education and health services (4.6 percent). The big losses for Dallas employment came from manufacturing and wholesale industries.

But natural resources, mining and construction in Dallas saw the biggest downward trend. That sector reversed from 18.1 percent cumulative growth between 2003 and 2007 to a 3.4 percent decline in 2008.