Texas Named Top Business Climate In America
Governor Greg Abbott today celebrated Texas being named the Top Business Climate in the nation by Site Selection Magazine. Announced during a press conference at the Governor's Mansion in Austin, this is the third national best business climate ranking for Texas this year, with awards announced in June and September.
"Today, we celebrate another victory for Texas—this time with Texas listed as the No. 1 business climate in the United States of America," said Governor Abbott. "This is the first time we've won this award from Site Selection since 2011. All of this is a testament to the exceptional economic development professionals and chambers of commerce in Texas. Texas is America's economic juggernaut, and we are now the eighth-largest economy in the entire world. We cut red tape, we have lower taxes, and we have the best workforce in the United States. Most importantly, the Texas economy is great for all Texans. Texas is the modern embodiment of the American dream—the land of freedom for entrepreneurs. Thank you to the hardworking people of Texas for making this award possible."
The Governor was joined by Site Selection Magazine Editor-in-Chief Mark Arend; Texas Secretary of State Jane Nelson; Senators Kelly Hancock, Bryan Hughes, and Kevin Sparks; Texas Economic Development & Tourism Executive Director Adriana Cruz; and other state officials as well as local economic development and business leaders.
"Having won Site Selection’s Governor’s Cup for total capital investment projects in 2022 earlier this year, Texas for the second time in 2023 is demonstrating that it has in place what businesses look for most when expanding or relocating," said Editor-in-Chief Arend. "We congratulate the state-level and local economic developers throughout Texas for working to cultivate a business climate that is the best in the U.S."
Site Selection's annual Top Business Climate ranking is based on an index that includes a survey of corporate real estate executives and site selectors. Other factors in Texas' No. 1 ranking include the number of relocation and expansions in the state; an unmatched business climate with no corporate or personal income taxes; a young, growing, skilled, and diverse workforce; robust infrastructure; and a focus on innovation with a strong startup ecosystem.
In March, Governor Abbott accepted Selection Magazine’s Governor’s Cup for a record-shattering 11th consecutive win for Texas as the nation’s top-performing state for job-creating business relocations and expansions. Governor Abbott also celebrated being named the Best State for Business in April by the nation's leading CEOs for a record-shattering 19th straight year.
Learn more about Site Selection's 2023 Top Business Climate rankings.