Business Climate
Texas offers companies of all sizes and across all industries one of the best business climates in the nation, with a fair, transparent tax and regulatory structure designed for businesses to succeed.
With no corporate or personal income tax at the state level, companies operating in Texas enjoy one of the lowest overall tax burdens in the country. Texas is committed to maintaining its position as the best state for business, and recently passed legislation providing over $4 billion in tax relief for businesses. Not to mention, Texas is home to one of the largest, most competitive deal-closing funds in the nation, the Texas Enterprise Fund.
Powered by nearly 50 Fortune 500 companies, thousands of international and small businesses, and a diverse, skilled workforce of 13.5 million, the Texas economy is the 10th largest when compared to the nations of the world.
Texas prides itself on being a right-to-work state, and will continue to make strategic investments to ensure it maintains our competitive advantage, allowing businesses to prosper and grow.
For all of these reasons, Texas, time and time again, is able to garner the accolades below:
- CNBC named Texas as “America’s Top State For Business” for 2018.
- Texas awarded Site Selection Magazine’s Governor's Cup, an annual award that recognizes the top-performing states for business and job creation. The 2017 Governor’s Cup is a record-breaking sixth in a row for Texas and the 14th overall win, more than any other state.
- Chief Executive Magazine named Texas the “Best State For Business” for 2018 . This is the 14th year in a row Texas has been named best state for business in the magazine's annual rankings, which is determined by surveying hundreds of leading CEOs from across the United States.
- Texas wins Area Development Magazine's 2018 Gold Shovel Award for new job growth and business investments. This is the sixth year Texas has won a Gold Shovel Award.