Texas Leads Top States for Business

For the 11th year in a row, Texas has ranked as the top state for business according to Chief Executive magazine’s annual survey. The survey was completed by 511 CEOs across the U.S.

States are measured by their taxes and regulations, quality of the workforce and living environment. The results clearly show that, “CEOs favor states that foster growth through progressive business development programs, low taxes and a quality living environment.”

So, what features have allowed Texas to top the charts for 11 years?

For many years, Texas has benefited from high or rising prices for crude oil resulting in jobs both in the ‘oil patch’ but in related industries as well. However as fracking becomes more prominent, many wonder if Texas will continue to rank as a top state to do business.

As Tracye McDaniels, the president and CEO of Texas Economic Development points out, “Texas must become bigger, broader and bolder in our economic-development efforts and more aggressive in attracting companies and foreign direct investment so that we become not just the national leader, but a world leader, in job creation.”

However, many are convinced that Texas will be able to continue to diversify its industry portfolio. A great example of this is Toyota’s move of its U.S. headquarters to Plano, Texas from Torrance, California, which will result in almost 4,000 new jobs.

Other AEP states ranked as top states for business include Tennessee [4], Indiana [6], Louisiana [7] and Virginia [14].

For more information on the methodology for ranking states, check out www.chiefexecutive.net/state-ranking-detail.

 

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