The state of Texas used to experience large-scale booms and busts related to price fluctuations within the petrochemical industry. Recently, however, the business climate has attracted many different types of companies to the state, and, as a result, the state has experienced _________ that has allowed other industries to take a more prominent role in Texas's economy.

Respuesta :

Answer:

Economic Diversification

Explanation:

The method of moving an economy away from the central source of revenue to various sources from  a increasing spectrum of industries and markets is called Economic Diversification.  

As a strategy for encouraging favorable financial growth and development,  it has traditionally been implemented.