AUSTIN — Texas had the best business climate of any state last year, marking the first time in more than a decade that the Lone Star State ranked No. 1 in the annual tally. Site selectiona magazine covering corporate relocation.
Gov. Greg Abbott said Wednesday at a news conference outside the governor's mansion that the location rankings highlight Texas' pro-business policies and the efforts of state and local economic development officials.
“Texas is the economic pillar of the United States,” the three-term Republican governor said.
He checked statistics on Texas job creation, exports and Fortune 500 company headquarters, and blocked a $17.6 billion property tax relief bill passed by Congress last summer.
Site selection has released its 2023 state business climate rankings based on 10 criteria. These include the results of a survey of corporate site selection consultants, data on new plant operations, the Tax Foundation's ranking of favorable business tax structures, and last year's CNBC rating of America's Best State for Business. It is. Among them, Texas ranked 6th.
in Site selectionIn the eyes of Texas, Texas' ranking as the best state for doing business in 2023 was decisive. It surpassed Georgia and last year's champion Virginia.
In recent years, Texas has often ranked in the top five. It hasn't topped the rankings since 2011.
“What business environment means can be somewhat subjective,” he said. Site selectionThe magazine's editor-in-chief, Mark Arend, sat with Abbott at a table decorated with trophies awarded to Texas by the magazine for being the state with the most new plants and factories.
“But part of it is that there's no corporate tax,” Arend said. “The ability to create 650,000 new jobs, as you did in 2022, is part of that. A 90% high school graduation rate is part of that.”
Mr. Abbott announced plans for the SK Signet electric vehicle charging station manufacturing plant being built in Plano, Wells Fargo's “massive new campus” in Irving, and Graphic Packaging International's $1 billion facility being built in Waco. He cited several economic development achievements, including a recycled paperboard mill.
“There's never been a better time to be in Texas,” he said.
