About | The Perryman Group

We are an economic and financial analysis firm that provides clients with thoroughly researched, well-documented, carefully considered answers to complex questions.

Led by Dr. M. Ray Perryman, The Perryman Group covers numerous practice areas including litigation & regulatory services, impact assessment, economic modeling & forecasting, valuation, economic development & strategic planning, and public policy. In addition, our in-house professionals also provide market & industry analysis, statistical modeling & analysis, survey & demographic studies, economic statistics, and other services in a comprehensive manner. The firm has served the needs of more than 3,000 clients ranging from major corporations to small startups and local communities to national governments.

The Perryman Group analyzes and clearly communicates complex issues. The experienced team has a superlative track record in working with both defendants and plaintiffs in hundreds of significant assignments over more than 40 years, and Dr. Perryman has frequently provided successful testimony in numerous high-profile judicial, legislative, and regulatory proceedings. Deadlines are met, problems are solved, and messages are delivered.

Dr. M. Ray Perryman
Dr. M. Ray Perryman
President and CEO
B.S. Mathematics
Baylor University
Ph.D. Economics
Rice University
International Institute for Advanced Studies
Dr. Perryman
Dr. M. Ray Perryman, President and CEO

Dr. Ray Perryman, the founder and CEO of The Perryman Group, has guided clients, subscribers, and audiences through the complexities of economic life for more than 40 years. He holds a BS in Mathematics from Baylor and a PhD in Economics from Rice. He has held numerous academic positions; authored several books, more than 400 academic papers and 3,000 trade articles; and received hundreds of prestigious awards for his academic and professional efforts. Some of his most gratifying work has been in the fields of economic development and social policy, where he has played a role in the creation of hundreds of thousands of jobs, trillions of dollars in investments, and numerous initiatives to address pressing human needs.

The Perryman Group is an economic research and analysis firm based in Waco, Texas. The firm has served the needs of more than 3,000 clients, including two-thirds of the Global 25, over half of the Fortune 100, the 12 largest technology firms in the world, 12 US Cabinet Departments, the 9 largest firms in the US, the 6 largest energy companies operating in the US, and the 5 largest US banking institutions.

In addition to his degrees from Baylor and Rice, Dr. Perryman holds an honorary doctorate from the International Institute for Advanced Studies. He has held numerous academic positions throughout his career (Herman Brown Professor of Economics and University Professor at Baylor University and Economist-in-Residence at Southern Methodist University) and is currently a Senior Research Fellow of the IC2 Institute at the University of Texas and Institute Distinguished Professor of Economic Theory and Method at the International Institute for Advanced Studies. He hosts a daily radio commentary with frequent appearances on National Public Radio and writes a syndicated column that appears in hundreds of outlets.

Among hundreds of prestigious awards and recognitions, Dr. Perryman was named Outstanding Young Person of the World for Business and Economic Innovation in 1987, received the Lifetime Achievement Award from the Systems Research Foundation in 1992, was designated Texan of the Year by the Texas Legislative Conference in 2012, received the Baylor University Distinguished Service Medal in 2013, was inducted into the Texas Leadership Hall of Fame in 2014, received the Cesar E. Chavez Conscience Builders Award in 2016 for his humanitarian efforts, and in 2018 was named the Most Dynamic Economic Researcher in the US by Global Business Insights. In 2019, Dr. Perryman received the Chairman's Award for Lifetime Achievement in Economic Development from the International Economic Development Council and was selected for the "Go Global" Award from the International Trade Council as the outstanding global economic analyst for his work on trade, energy, the environment, and other international issues. He received the Lifetime Achievement Award for philanthropy from the Association of Fundraising Professionals in 2023. He dedicates a significant portion of his time to pro bono work aimed at helping to solve pressing social problems such as hunger, indigent health care, poverty, and child maltreatment.

"The most quoted man in Texas"

Texas Monthly

"A world class scholar"

Business Week

"The unofficial state economist"

The New York Times

"The state's pre-eminent economist and a barbecue connoisseur"

The Dallas Morning News
Richard Cox
Litigation and Dispute Analysis

For over 30 years, Mr. Cox has provided analysis on a broad range of commercial damage matters including intellectual property, patent infringement, antitrust, breach of contract, misappropriation, fraud, regulatory matters, and other commercial litigation. As an Accredited Senior Appraiser (ASA) of the American Society of Appraisers in business valuation, he values businesses, business segments, intellectual property, and other business assets.

Virginia Johnston
Public Policy, Economic Development, and Impact Analysis

Ms. Johnston, who has been with the firm for about 35 years, oversees projects including economic impact assessments of various kinds as well as litigation matters. She has conducted and directed research on topics ranging from the impact of legislative initiatives to the likely effects of major corporate locations to emerging industries. A key facet of Ms. Johnston's role involves distilling voluminous research and data into easily understood reports suitable for a wide variety of audiences.