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How and Why Texas Ranks No. 1 for Business for 14th Consecutive Year

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For the 14th consecutive year, “Chief Executive Magazine” has once again named the Lone Star State the best in America for business. The business magazine surveys leading U.S. executives annually in its efforts to rank all 50 states from most popular to least in terms of economic climate. This includes such criteria as quality of the workforce, taxation, living environment, and business climate in general.

In a statement from the Texas capital, Governor Greg Abbott asserted, “It is no accident that the nation’s top CEOs continue to rank Texas as the best state for business. Innovation and ingenuity are thriving in the Lone Star State, and as a result, businesses are relocating and expanding their footprint in Texas, further strengthening our economy.” Texas executives appear to agree with the governor, setting the stage for their establishment or relocation to the state due to its low regulation and low taxation. This includes such big names as Toyota, Facebook, Liberty Mutual, Charles Schwab, J.P. Morgan Chase, and Kubota Tractors.

How and Why Texas Ranks No. 1 for Business for 14th Consecutive Year

Photo: Pxhere

In conjunction with its state ranking, Chief Executive Magazine also emphasized Texas’ pro-business incentives, such as the Texas Enterprise Zone Program and the Texas Enterprise Fund. An added perk is the state’s central location to practically anywhere. One CEO noted his ability to fly almost anywhere out of DFW in particular. Texas also scored highly for having a good quality of life, as well as a skilled workforce, making it the magazine’s “top state to watch.” Two of the fastest growing regions for business recognized nation-wide were located in the Texas Hill Country: Austin-Round Rock and San Antonio-New Braunfels. To learn more about the list, how the rankings were calculated for Texas as well as all other states, and what this could mean for future economic growth, visit the “Best And Worst States For Business In 2018” listing at the link provided here.