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Texas boasts the most favorable business environment in the United States

Texas boasts the most favorable business environment in the United States

Texas has recently been recognized as having the most favorable business climate in the United States by Site Selection Magazine.
Governor Greg Abbott announced this on November 1 at the Governor’s Mansion, where he was joined by economic development and corporate partners from across the state. This top ranking was determined by evaluating ten criteria, including a survey of corporate site selectors, qualified projects, and measures of states’ appeal to capital investors.
Governor Abbott expressed his pride in Texas’s achievement, noting that it’s the first time the state has received this award from Site Selection since 2011. He attributed the success to the dedicated economic development professionals and chambers of commerce in Texas. He emphasized the state’s financial strength, reduced bureaucracy, lower taxes, and a highly skilled workforce that benefits all Texans. Abbott stated, “All of this is a testament to the exceptional economic development professionals and chambers of commerce in Texas. Texas is America’s economic juggernaut, and we are now the eighth-largest economy in the entire world.”
Texas provides an environment conducive to growth for businesses of all sizes and across industries. With its diverse and proficient workforce, global market accessibility, reasonable regulatory framework, and high quality of life, Texas is where businesses and talent can thrive. Furthermore, the absence of corporate and personal income taxes, coupled with lower operating costs and available commercial space, positions Texas as one of the most tax-friendly states.

Home to 55 Fortune 500 companies, thousands of publicly traded businesses, and over 3.1 million small enterprises, Texas boasts a large, diverse, and skilled workforce exceeding 15 million. Additionally, it offers an extensive portfolio of incentive programs, including a highly competitive deal-closing fund known as the Texas Enterprise Fund.

These factors have made Texas the preferred choice for corporate relocations and expansions, earning it the Governor’s Cup for 11 consecutive years and solidifying its position as the leading state for foreign direct investment in the U.S.

Texas is committed to making strategic investments to maintain its competitive edge and uphold its status as the nation’s best business climate, ensuring a thriving environment for businesses. For more information on doing business in Texas, please visit our website.

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