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Texas ranked as best for business for eighth time

🕐 2 min read

A survey of U.S. corporate executives released at the International Economic Development Council Annual Conference being held from Dallas virtually ranked Texas the No. 1 state for business for the eighth consecutive time since 1996.

Gov. Greg Abbott congratulated the Texas Economic Development Corporation on the recognition as one of the premier economic development marketing organizations in the nation in a statement issued from Austin.

“TxEDC, working together with my Economic Development & Tourism Office and other public and private sector partners throughout the state, play a pivotal role in bringing more investment and jobs to our state,” Abbott said.

Conducted by Development Counsellors International (DCI) every three years, the “Winning Strategies in Economic Development Marketing” survey has tracked trends in economic development since its inception in 1996.

The 2020 “Winning Strategies” survey is based on the aggregate responses of 316 corporate executives with site selection responsibilities.

Texas has consistently held the No. 1 ranking since 1996, making this its eighth consecutive win. Texas earned the number one spot this year by a wide margin, with 48% of survey respondents favoring the state’s business climate compared to second place Georgia’s 25% favorability.

“We are honored to once again rank as the No. 1 State for Business among corporate executives,” Robert Allen, president and CEO of TxEDC., said in a news release. “Texas has been recognized as the top state for business thanks to the leadership of Gov. Greg Abbott and the incredible team of economic developers working every day in communities across the state to let businesses know that they can Go Big in Texas.”

Texas was a favorite among survey respondents thanks to many key factors. In addition to recognizing Texas’ overall business climate, 36% of respondents named the state as having one of the most favorable tax climates, 20% cited Texas’ overall pro-business environment and 17% specified its access to talent.

In addition to Texas, rounding out the top five states for business are Georgia at No. 2 with 25%, followed by North Carolina at No. 3 with 22%, Florida at No. 4 with 18%, and Tennessee at No. 5 with 13%, the news release said.

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