The Electronic Payments System is the Force Behind One in Five Jobs

“Electronic payments are highly efficient, offering advantages such as speed, reduced costs, and accuracy,” said Dr. Ray Perryman, President and CEO of The Perryman Group. “These enhancements have contributed significantly to the expansion of the US economy, increasing liquidity and stimulating personal consumption.” An easy to use, efficient method of purchasing goods and services is essential to a well-functioning economy. Payment methods have evolved throughout human history, from barter to primitive forms of money, to full-bodied coins and precious metals, to bank notes, to national fiat currency and checks. Each advance has brought with it more economic efficiency, productivity, and integration. The ...

Read More

…and Justice for All: The Potential Economic Benefits of Improving the Judicial Infrastructure in the Eastern District of Texas

No modern economy can prosper without a strong system of courts to protect public safety, secure property rights, enforce contracts, and resolve disputes. In fact, an effective judiciary lies at the heart of the very foundations of Western civilization. Even so, many states and locales face poorly funded courts, while the Federal courts have been hampered in recent years both by the inability of Congress to fill vacancies in a timely manner and by the failure to expand the number of judgeships as economic and demographic growth demand. There is perhaps no place where this situation is more acute than ...

Read More

Child Maltreatment is a Trillion-Dollar Drain on the Economy

In addition to the very real and often lifelong effects on the individuals involved, child maltreatment also imposes substantial economic costs which can be quantified in a comprehensive manner. When properly measured, child maltreatment drains literally trillions of dollars in long-term business activity. “As horrific and unimaginable as it sounds, child maltreatment is pervasive in the United States and ranks as one of the nation’s most pressing public health and social concerns. While many incidents no doubt go unreported, reliable survey evidence suggests that more than 13% of US children are subject to abuse or neglect by a caregiver each year,” ...

Read More

Solving the Problem of Hunger Yields Huge Economic Benefits

Even beyond the obvious physical and mental costs of food insecurity and the incalculable toll on the stability and dignity of families across the United States, there is also a tremendous economic cost. Health care needs of people who are food insecure are higher due to increased incidence and severity of disease. Health outcomes are also worse, reducing productivity and lifetime earnings. In addition, education expenses are higher, with a greater need for intervention such as special education. Achievement levels (and, hence, lifetime earnings) are negatively affected. These costs multiply as they work their way through the business complex and ...

Read More

The Importance of 25 Years of Projects Facilitated by the Texas Sales Tax for Economic Development

Catalyst for Growth: The Importance of 25 Years of Projects Facilitated by the Texas Sales Tax for Economic Development

On the occasion of its 25th anniversary, The Perryman Group estimated the economic and fiscal benefits of the Texas sales tax for economic development and found that projects receiving location, expansion, or retention assistance from the sales tax for economic development generate an overall impact (including multiplier effects) of $98.2 billion in gross product each year and almost 971,900 permanent jobs in Texas.   Although there are many considerations in the corporate location decision process, the initiatives undertaken by economic development professionals (and funded by economic development sales tax receipts) have been the major contributing factors in many cases, and the Texas economy has ...

Read More

U.S. Soldiers with the Texas National Guard brief their Albanian special operations forces counterparts before conducting a checkpoint assessment near the Afghanistan-Pakistan border in the Spin Boldak district of Kandahar province, Afghanistan, April 1, 2013. The checkpoint was built to block an insurgent infiltration route.  (U.S. Army photo by Staff Sgt. Shane Hamann/Released)

Troop Deployment Costs Thousands of Jobs

In July 2014, National Guard troops in Texas were deployed to the US-Mexico border as a response to the influx of immigrants (mostly children) from Honduras, Guatemala, and El Salvador. While troops have been sent to the area on various occasions in the past, the deployment raised concern among some area residents and community leaders who fear that it could take a toll on the regional economy. “If the deployment increases feelings of uncertainty about the area’s stability,” said Dr. Ray Perryman, President of The Perryman Group, “it could discourage business investment, tourism, and other desirable economic activity. The presence of ...

Read More

Towards a Texas Solution

The Perryman Group studied potential economic and fiscal effects to help frame ongoing debate regarding Medicaid expansion. This 2013 study found that local areas across the state would receive a significant economic boost if Texas expands coverage under the Affordable Care Act (ACA) using a private exchange option.   An exchange is a private-market solution where competition among insurance providers will stimulate innovation and cost reduction measures while avoiding some of the flaws of the Medicaid program. Utilizing the Federal funds designated for Medicaid expansion under the ACA to provide private insurance coverage for the newly Medicaid-eligible population through such an ...

Read More