According to Site Selection magazine, which covers corporate real estate strategy and economic development, Texas has the best business environment in the country.
The magazine ranked Texas No. 1 in its annual ranking of states for business climate. The rankings were based on a survey of corporate real estate executives and site selectors, CNBC’s list of top states for business (Texas ranked No. 3), investment data from Site Selection publisher Conway Data, This includes standards such as taxation and infrastructure.
States are awarded points based on criteria. Texas earned 574 points, six points ahead of second-place Georgia. North Carolina, Virginia and Florida rounded out the top five in the ranking.
“What makes Texas and other leading states attractive to businesses large and small starts with supportive policies from the governor’s office, counties, cities, and institutions of higher education,” said Adam, Site Selection Editor-in-Chief.・Mr. Brands stated in a press release. “As businesses and talent continue to flow into these states, a positive feedback loop is created, supported by a focus on infrastructure and workforce development.”
In addition, Site Selection surveyed corporate site selectors to find out which location factors are most important, and found that by 2024, public works reliability, workforce skills, and real estate prices It has become clear that this is a top priority for selectors. This is very different from 2023, when permitting and regulation were easier. Procedures were rated as the most important criterion.
“Texas is widely known as a business-friendly state,” Raymond Garfield, chairman and co-founder of real estate developer Garfield Public/Private LLC, told Site Selection. “Texas has an excellent infrastructure, including state-of-the-art telecommunications, major thoroughfares, public facilities, and airports, including Dallas-Fort Worth International Airport, the second busiest airport in the nation.”
Texas also ranked first in last year’s business climate rankings, marking the first time in more than a decade that the Lone Star State has ranked first. Earlier this year, Site Selection awarded the Texas Governor’s Cup for the 12th consecutive year for construction of the newest corporate facility and expansion of current facility.
In addition to existing attractions such as a state income tax exemption, Texas pursues business-friendly policies such as the creation of a business court, so site selection honors are best received by those praising Texas’ business climate. many.
