The consensus among them is that the national economic picture is improving; Texas is weathering the recession better than most states; and energy and technology will be the two sectors that lead the state’s recovery. Using current and projected population trends, each offered insight into how that growth will impact Texas by 2050.

Commissioner Staples said the increase in population translates to a net decrease of 1.5 million acres of agricultural land. “This amounts to a per capita loss of 270 acres for each 1,000 new residents. We’ve got to do the math on water needs, infrastructure and figure out what this means in an opportunity for our state. This summit is all about recognizing those challenges and developing a strategy for success.”

Extrapolating from population statistics, Dr. Perryman said that 1,000 new residents move to Texas each day. Just to meet housing needs for this burgeoning population, Texas will need to add 165,000 multi-family and single family homes each year to keep pace.

“What that means on highways, schools, water and sewer is that it will be a challenge to keep that, and everything else, going. But it’s also a huge opportunity that will define our future with new emerging technologies,” said Commissioner Staples.

“In bad times, good is ‘relative,’” Dr. Perryman said. “Regarding housing, our situation is not as bad as it could have been. We overbuilt the market, but not drastically. This is not worse than the 1980s – that was the worst time for Texas since the Great Depression.” He said builders have stopped building in Texas and will likely construct only 86,000 units this year.

He applauded passage of Proposition 4 on the Nov. 11 ballot, which creates a pathway for additional top tier research universities.

“Companies want to congregate around educational institutions. Look at microelectronics in Austin and the University of Texas,” he said. Biotechnology and food represent new frontiers for business development.

“If you bring in research money, you create jobs,” he said. To illustrate the point, he cited the national gross domestic product (GDP) at $14 trillion. The gross domestic product of start-up businesses founded by Massachusetts Institute of Technology alumni is $2 trillion. Dr. Perryman said that Massachusetts understands the incubation process between business and education, and so does California.

Texas is starting to “get it.”

“Technology will be something that leads us out of the recession,” he said. “And so will energy.”

Dr. Perryman said that Texas represents eight percent of the national economy; however, the state only lost four percent of what the country lost during the recession.

Lt. Gov. Dewhurst agreed with Dr. Perryman on education as a pathway for creating new jobs. “We must improve public schools and universities so they can prepare workers and leaders to succeed,” he said. “We have tried to create

pro-growth, pro-business environment in Texas, and people all around the country are hearing about this.

“Over the last three years, Texas is #1 in creating jobs; #1 as the place to do business; we have more Fortune 500 companies in Texas than any other state. This is huge – think of the business opportunities.”