Fourteen Tornadoes And Counting

(AUSTIN) — Texas is currently experiencing the worst drought since 2011, which cost the state’s economy about $7.62 billion in direct agricultural losses and nearly $17 billion in total losses.

In the November/December issue of Fiscal Notes, the Comptroller’s office examines droughts and their toll on the Texas economy, most notably the state’s agricultural industries and municipalities.

“This present drought has spelled disaster for the state’s cotton industry,” Texas Comptroller Glenn Hegar said. “One estimate says cotton producers, concentrated in the Panhandle, will lose about $2.1 billion in total economic activity, not including the losses covered by crop insurance. Although crop insurance helps producers recoup revenue losses, it doesn’t help businesses and consumers further down the supply chain.”

Fiscal Notes also examines the excellent work of local, regional, and state individuals charged with planning for Texas’ future water needs. This fall, as part of his Good for Texas Tour: Water Edition, Hegar visited several bellwethers of innovative water planning and management organizations.

“With the population ballooning and businesses booming, it is no surprise that Texas will need a lot of water to stay afloat,” Hegar said. “But planning for Texas’ future water needs requires the dedication and resourcefulness of organizations and passionate individuals.”

Fiscal Notes further the Comptroller’s constitutional responsibility to monitor the state’s economy and estimate state government revenues. Texas has published it since 1975, featuring in-depth analysis concerning state finances and original research by subject-matter experts in the Comptroller’s office.