8.88 out of 10 in Taxation and Regulation
8.20 out of 10 in Workforce Quality
7.98 out of 10 in Living Environment
Right to Work? ✓
The Fastest-Growing Metropolis
While the Lone Star state’s growth cooled with the collapse of oil prices, Texas still boasts one of the fastest-growing regions in the country. According to data from the U.S. Bureau of Economic Analysis, Austin-Round Rock and San Antonio-New Braunfels each had the highest GDP growth of any metropolitan area in the nation in 2016, 5% and 5.9% respectively. That’s more than double the 2.5% average of U.S. metropolitan areas.
From the Governor
“The Texas economy continues to drive business growth, creating opportunities that make the Lone Star State a premier location for job seekers and creators alike.” —Gov. Greg Abbott
Advanced Manufacturing, Aviation, Biotech, Chemicals Products, Energy
Texas Enterprise Fund: Offers a performance based cash grant for projects that include significant job creation and capital investment where a Texas site is competing with an out-of-state option.
Skills Development Fund: Offers grants to help companies form partnerships with local community colleges and technical schools to provide custom job training.
Sales and Use Tax Exemptions: Offered for manufacturing machinery and equipment for natural gas and electricity and data centers that meet minimum thresholds.
Texas Enterprise Zone Program: Offers sales and use tax refund based on new and retained jobs associated with the qualified business site.
Texas Economic Development Council: texasedc.org
Texas Economic Development Corp.: businessintexas.com
Greater Houston Partnership: houston.org
San Antonio Economic Development Foundation: sanantonioedf.com
City of Dallas Office of Economic Development: dallasecodev.org
Austin Chamber of Commerce Economic Development: austinchamber.com/economic-development
Highlighted Program or Initiative
The 60×30 Higher Education Plan aims to increase educational achievement and workforce readiness to ensure 60% of the state’s population age 25 to 34 has a secondary education credential by 2030.
- Kubota announced in May 2017 plans to relocate the headquarters for its tractor and credit corporations from Torrance, California, to Grapevine. The company will invest $51 million and create 340 new jobs.
- NTT DATA officially moved its North American Headquarters to Plano in June 2017, creating 6,300 jobs.
- Pei Wei announced in August 2017 plans to move its global headquarters from Scottsdale, Arizona, to Irving.
- Charles Schwab broke ground in September 2017 on a seven-acre campus in Westlake. It is expected to create 1,300 jobs.
- Brakebush Brothers announced in September 2017 the construction of a 315,000-square-foot processing plant in Greenville, which will create more than 800 new jobs.
50 Fortune 500 companies headquartered in state, including:
American Airlines Group
Energy Transfer Equity
“Their business-friendly climate, state incentives and geographical location were important factors in our final decision.” —Masato Yoshikawa, President and CEO, Kubota Tractor
“We decided to stay here in Texas and expand our operations because it was the best business solution for our company. We’re looking forward to seeing our presence grow and becoming even more engaged in the business community.” —Grady Walker, Chairman and CEO, Hudson Products