Texas Ranked Best Business Climate in U.S.

According to a new report, Texas has the best business climate in the nation.

Texas’ relentless growth, robust economy, industry diversity, strong job numbers, and ideal regulatory and tax environment have made it a top destination for companies and the best climate for businesses, according to Business Facilities’ 19th Annual Rankings Report.

“The strength and sustained momentum of the Texas economy made the state a clear choice for Best Business Climate in this year’s rankings,” Business Facilities Editorial Director Anne Cosgrove said in the report.

With its economy firing on all cylinders, the Lone Star State only seems to be gaining steam. Texas’ economy grew at a momentous pace over the past 12 months, adding more jobs than any other state, as previously reported by The Dallas Express.

Texas has the ninth-largest economy in the world, according to Business Facilities, and is a place Gov. Greg Abbott has dubbed the “new headquarters of [corporate] headquarters.”

“The Texas legend is fueled by leaders, innovators, and trailblazers inspired by the unique freedom and opportunity that only exists in our great state,” Abbott said Monday in a press release following the publication of the Business Facilities report.

“With no state income tax, a reasonable regulatory environment, a growing, diverse, and highly skilled workforce, and economic development tools that help support investments, Texas continues to offer something for everyone to thrive,” Abbott said. “When businesses succeed, so do Texans — and our business climate ensures that Texas continues to offer world-class educational opportunities, good-paying careers to support families, and endless possibilities to prosper.”

According to the Business Facilities report, Texas brought in roughly $44.75 billion in capital investment, $16.3 billion in foreign direct investment, created more than 35,000 jobs, and attracted more than 1,000 projects in 2022 — more than double that of North Carolina, which ranked second on the Top Business Climate list.

The manufacturing of electric vehicles, semiconductors, and aerospace/aviation technologies has helped pump up the Lone Star State’s economic standing.

Business Facilities magazine’s top 10 states with the best business climate are:

 

1. Texas
2. North Carolina
3. Virginia
4. Utah
5. Tennessee
6. Colorado
7. Washington
8. Nevada
9. Georgia
10. Florida