Texas is the nation’s largest producer of cattle and cotton as well as other crops. Overall manufacturing growth has been dampened by declines in technology manufacturing, which is being reduced through outsourcing and automation. Austin’s growing cluster of innovative life sciences companies embraces the area’s technology infrastructure. Fort Worth is also the home of Bell Helicopter Textron, which manufactures several helicopters for the military, including the V-22 and the H-1, on which final assembly is performed in Amarillo. The sector continues to operate as an important employer in Texas, which contributes to income disproportionately relative to people employed. [37] Texas is a global leader in the energy industry and Houston is the petroleum capital of the world. Many economists consider this group a supersector because it encompasses so many subindustries As of June 2015, the supersector employed 2.369 million people in Texas, representing 20.1% of total nonfarm employment. Frisco-based software firm Asset Panda was created in 2012 and is led by founder and CEO Rex Kurzius. According to the BLS, the manufacturing industry employs 864,000 people in Texas or 7.3% of all nonfarm workers. While larger personal property items such as cars, boats, and airplanes can be subject to local taxes as well, it is far less common. Modest, positive health care sector growth is a sign of stability and continues to create more jobs moving forward. From 1995 to 2004, more than $2.75 billion was spent in Texas for film and television production. The proven oil reserves in the state are approximately 4.6 billion barrels. Cinemark Theatres which is one of the largest movie theater chains is also based in the Dallas Fort Worth area. The company employs about 100 people, according to the Dallas Business Journal. [29] Cities are allowed to impose an additional 1% tax, and additional taxes not to exceed 1% may be approved by voters for any combination of county sales tax, transportation districts, economic development, and/or crime prevention. Certain key subcategories exhibited strength and catalyzed the gross domestic product (GDP) growth. Food, except for prepared food, and non-prescription medicines are among the major items exempt from sales tax. [30], The state leads nationally in production of sheep and goat products. The exteriors for the popular soap opera Dallas were filmed on Southfork Ranch, a location near Plano, Texas. For 36% of producers in Texas, farming is their primary occupation. The Deloitte Technology Fast 500 list takes into account percentage fiscal-year revenue growth over a three-year period to rank the fastest-growing technology, media, telecommunications, life sciences and energy tech companies in North America. The company is led by CEO Jerry McLaughlin, former VP and chief compliance officer of Nupathe Inc. This is not an industry from which rapid growth can ever be expected, but it is an important source of employment. About 12% of the 26 million people living in Texas are rural dwellers, and approximately one out of seven people in Texas rely on agriculture for their livelihood. As of 2017, there were 187,139 wells in production, and this was an increase from 2007 when they were 153,223 wells. [24] Property taxes are exclusively collected at the local level in the state, and are generally at rates above the national average. The Austin region is recognized across the country as a top destination for corporate headquarters and supporting facilities. The cattle industry enjoyed its greatest financial success in the later 1870s and 1880s. About 29% of all cotton used in the country was grown in Texas. Healthcare is a growing industry in the state of Texas. This sector actually declined versus the prior year, though 2014 gross state product attributable to the manufacturing industry grew by 6%. The state determines the items subject to sales tax, which all other entities must follow.