On Thursday, Texas Gov. Greg Abbott celebrated the announcement that the Lone Star State had won the 2025 Prosperity Cup, which Site Selection magazine awarded to the state best suited for attracting new businesses.
Site Selection’s website states that the Prosperity Cup is awarded each year to the state with the best “state-level competitiveness in attracting capital investment.”
States are graded on a 10-point scale, which seeks to “reflect facility announcements, capital investment and new jobs.”
Unsurprisingly, Texas ranked at the top of the list for this award, winning the Site Selection “Triple Crown Trophy” after being selected as the winner of the site’s three biggest awards.
The Lone Star State previously won the magazine’s Governor’s Cup for being recognized as the state best at attracting the most new and expanded business facility projects while also being ranked by Site Selection as the Top Business Climate in the U.S., according to a news release from Abbott’s office.
The press release states that Texas boasts a $2.6 trillion economy as of March 2025, which ranks as the eighth largest in the world, bigger than notable countries such as Russia and Canada.
Additionally, Texas produces over 9% of the U.S. Gross Domestic Product while accounting for 22% of all exports, making it the largest exporting state for the 23rd year.
Abbott stated in the news release that the Lone Star State won this award because it offers “businesses the freedom to succeed” compared to other states that have restrictive laws.“
“For industry leaders and job-creating businesses from across the country and around the world, the path to prosperity begins in Texas. With America’s best business climate and a booming Texas economy powered by our skilled and growing workforce, we will build on this momentum for a stronger, more prosperous Texas for decades to come,” he added.
These awards come as no surprise. Texas also leads the U.S. in job creation, as the state produced 192,100 new “nonfarm” jobs between March 2024 and March 2025, as previously reported by The Dallas Express.