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    rice to the rescue

    Rice University's Baker Institute in the running for prestigious $10 million prize

    Steven Devadanam
    Jan 12, 2021 | 3:06 pm
    Rice's Baker Institute could change the fortunes of rural Texans.

    Rice University is once again in the spotlight for innovation, this time for its work in potentially assisting rural communities across the Lone Star State. And this idea could score the university a $10 million prize.

    A new project proposed by the Rice’s Baker Institute for Public Policy is among five finalists for the coveted Lone Star Prize, the school announced. The Baker Institute project proposal, titled “Texas Dirt: The Key to Environment, Economy and Resilience,” aims to transform the state’s environment “through implementation of a soil carbon storage market while growing new economic opportunities for rural Texans” according to a press release.

    Atmospheric accumulation of carbon dioxide (CO2) contributes to climate change, which disproportionately affects poor and marginalized populations, according to the Baker Institute team.

    “Rural communities have long been disadvantaged relative to the urban and industrial centers that are focal points for economic activity and CO2 emissions,” the team wrote in a project description. “A soil carbon market is a Texan approach that addresses both of these issues as part of a long-term solution.” The team aims to “implement a Texas soil carbon storage market that utilizes photosynthesis to abate atmospheric CO2 by storing it as organic matter in soils of prairies, farms, ranches and grasslands of Texas.”

    Beyond an economic boost, say the team, benefits the Texas water supply, regional flood resilience, and the restoration of local ecosystems.

    As for the prestigious prize, the Texas-based, statewide competition was launched in early 2020 by Lyda Hill Philanthropies and Lever for Change to improve the lives of Texans and their communities, per a statement.

    Project members include attorney Jim Blackburn, a professor in the practice of environmental law at Rice and co-director of the university’s Severe Storm Prediction, Education and Evacuation from Disasters Center (SSPEED); Caroline Masiello, a professor of Earth, Environmental and Planetary Sciences at Rice; and Kenneth Medlock, the James A. Baker III and Susan G. Baker Fellow in Energy and Resource Economics and senior director of the Baker Institute’s Center for Energy Studies.

    Other statewide finalists include Austin's JUST Community, which invests in low-income, female entrepreneurs to create more resilient communities in the U.S.; Dallas-based Meadows Mental Health Policy Institute, which will will improve quality of life and mental health access; the Dallas location of Merit America, which will will build new pathways to upwardly mobile careers for low-wage Texans without bachelor’s degrees; and Austin's Texas Water Trade, which aims to deliver clean water to households most in need.

    More than 172 proposals were submitted for the Lone Star Prize. A final grant recipient will be announced in late spring 2021.

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    news/innovation

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    economic news

    Texas slides down the list of best U.S. state economies for 2025

    Amber Heckler
    Jun 9, 2025 | 2:15 pm
    Hand of woman putting money in jar
    Getty Images
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    After riding high among the top five best state economies in 2024, Texas' robust economy may be showing some cracks. Texas now ranks as the state with the eighth best economy, four spots lower than last year's ranking, according to a new WalletHub report.

    WalletHub's experts ranked all 50 states and the District of Columbia across 28 metrics to measure each state's economic activity and health and its "innovation potential."

    Massachusetts moved up two spots from last year to claim the No. 1 best state economy title for 2025, followed by Utah (No. 2) and Washington (No. 3). Texas was surpassed by No. 4-ranking California, as well as New Hampshire (No. 5), North Carolina (No. 6), and Idaho (No. 7).

    This is how Texas fared across the three major categories in the study:

    • No. 4 – Economic activity (down from No. 2)
    • No. 11 – Economic health (down from No. 7)
    • No. 24 – Innovation potential (unchanged)
    Texas ranked No. 1 with the most exports per capita in a three-way tie with Louisiana and Kentucky, the report found.
    The Lone Star State prides itself on its business-friendliness, and cities like Houston boast some of the most innovative companies in the nation. Texas also ranked 13th in WalletHub's separate study of the most and least innovative states for 2025.

    WalletHub analyst Chip Lupo says the states that have the best economies are often those that invest in new businesses, technology, and more. The report also suggests low unemployment rates and high wages are among the many factors that can help Texas residents be successful while also boosting the state economy.

    "A strong state economy doesn’t guarantee success for the state’s residents, but it certainly makes financial success more attainable," Lupo said.

    The states with the worst economies in 2025, according to WalletHub, are Hawaii (No. 49), West Virginia (No. 50), and Iowa (No. 51).

    texaseconomyinnovationwallethubreports
    news/innovation

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