CEO Guide to Site Selection

#1

Texas

CEO Rank on Best & Worst States for Business

EVERYTHING IS BIGGER, AND BETTER, IN TEXAS

While the story may be overplayed, it’s hard to deny the fact that more large companies continue to move headquarters or major parts of their operations from California to Texas. Tesla joined the movement in October 2021 when it announced it would relocate its headquarters from Palo Alto to Austin. Meanwhile, as of mid-year 2021, the Lone Star State led the nation in export trade with nearly double the sum of the next three largest states (California, New York and Louisiana) combined.

"More and more great companies are moving to Texas every day because of our welcoming business climate and our young, growing, skilled and diverse workforce.”
Greg Abbott
Governor

TAXES

No corporate income tax

# 0

on the Tax Foundation’s State Business Tax Climate Index ranking

EDUCATION

0 %

of students graduated high school in 2019

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

Yes

QUALITY OF LIFE

# 0

POPULATION GROWTH

0 %

increase between 2010 and 2020

KEY INCENTIVES

Texas Enterprise Fund: The largest deal closing fund of its kind in the nation offers cash grants for projects that create at least 75 full-time jobs that meet or exceed the county average wages.

Skills Development Fund: Offers up to $1,800 per trainee to assist Texas public community and technical colleges to finance customized job training for local businesses.

Texas Enterprise Zone Program: Offers various state sales and use tax refunds, ranging from $2,500 to $7,500 per job, for state-approved projects in designated communities.

Texas Capital Fund Infrastructure Program: Offers up to $750,000 towards public infrastructure upgrades for businesses that create and retain permanent jobs, primarily for low and moderate-income persons.

EDCs

Texas Economic Development

gov.texas.gov/business

Texas Economic Development Corporation

businessintexas.com

Austin Chamber of Commerce

austinchamber.com/economic-development

Greater Houston Partnership

houston.org

Greater SATX Regional Economic Partnership

greatersatx.com

City of Dallas Office of Economic Development

dallasecodev.org

HIGHLIGHTED PROGRAM OR INITIATIVE

Launched in 2016, the Tri-Agency Workforce Initiative aims to develop a statewide workforce strategy which remains a driving force in the state’s labor market. It assesses local economic activity, examines workforce challenges and opportunities, and considers innovative approaches to meeting the state’s workforce goals.

BIG DEALS

  • Hewlett-Packard announced in December 2020 the relocation of its global headquarters to Spring.
  • Great Lakes Cheese announced in April 2021 a $185 million expansion and 500 new jobs in Abilene.
  • California food producer Cacique announced an $88 million food processing operation and 187 new jobs in Amarillo.
  • QTC announced in June 2021 a new operational service center and 252 new jobs in San Antonio.
  • MD7 announced in August 2021 it would relocate its
  • U.S. headquarters to Allen and create 218 new jobs.
  • Tesla announced in October 2021 it was moving its headquarters from Palo Alto to Austin. CEO Elon Musk cited the decision on support from state government and an affordable cost of living.

BIG COMPANIES

49 Fortune 500 companies headquartered in state, including:

  • ExxonMobil
  • AT&T
  • Tesla (2022)
  • Dell Technologies 
  • Oracle
  • Hewlett Packard Enterprise (2022)
  • Kimberly-Clark
  • American Airlines