Even as school districts around the country cut budgets, lay off teachers, and slice sports programs, high school football remains big business, with the market for uniforms and equipment last season at $450 million. That’s nearly half of all money spent on football gear nationally. To understand the economics of the sport, we’ve focused on two Texas powerhouse programs: Southlake Carroll and Allen, which will meet in the 2012 opening game at Allen’s new $60 million stadium.

Sources: Sporting Goods Manufacturers Association; National Federation of State High School Associations; Allen Independent School District; Carroll Independent School District; Under Armour; Titus Sports Marketing; National Council of Youth Sports

This article is from the September 26, 2011 issue of Fortune.