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Texas Is the Best State for Business 2014

For the tenth year in a row, CEOs rated Texas as the No. 1 state in which to do business. The Lone Star state also ranked as one of the seven best states for startups.

Next State: Florida

No. 1 Texas

Taxations & Regulations

Workforce Quality

Living Environment

Key Metrics
State GDP 

  • % Growth ’12-’13: 3.7
  • % Growth ’11-’12 v. Nat’l Avg. (2.5%): 2.3

Unemployment

  • Unemployment Rate Dec. 2013 %: 6
  • Comparison with Nat’l Rate (6.70%): -0.7

Domestic Migration

  • Domestic Net Migration 2013: 113,528
  • Rank: 1

State Government

  • State Debt per Capita Fiscal Year ’13 ($): 1,344
  • State & Local Gov’t Employees per 10k Residents: 563.9

State-Local Tax Burden

  • Rate (%): 7.9%
  • Compared to Nat’l Avg. (9.9%): -1.93%
Key Companies
  • ExxonMobil Corp.
  • AT&T Inc.
  • Dell Inc.
  • ConocoPhillips
  • AMR Corp.
  • Fluor
  • Halliburton
  • Southwest Airlines
Development Trend Indicator: Neutral
Job growth remains stellar though slips to No. 4 from No. 3 percentage-wise.
CEO Comments
“Texas is the best state for business and I don’t see anything to slow TX down. The education and quality of eligible employees is excellent right now. Business is booming and growing quicker and more rapidly in 2014 than any other year. It’s an exciting time in Texas.”

“Texas enables doing business easy, and Austin specifically is an attractive city to many young high-tech workers.”

“Texas should do away with business franchise tax and it would be even better.”

“Texas is very bad about collecting taxes from non-Texan companies. The same can be said for Georgia.”

Based on CEO Survey by ChiefExecutive.net

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation

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