Categories: 2014 Best & Worst States

Texas is the Best State for Business 2013

Next State: Florida

No. 1 Texas

Taxations & Regulations

Workforce Quality

Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP % Growth ’10-’11: 3.3 % Growth ’10-’11 v. Nat’l Avg. (1.5%): 1.8 Unemployment Unemployment Rate Dec. 2012 %: 6.2 Comparison with Nat’l Rate (7.80%): -1.6 Domestic Migration Domestic Net Migration ’10-’11: 145,315 Rank: 1 State Government Debt per Capita Fiscal Year ’10 ($): 1,679 State & Local Gov’t Employees per 10k Residents: 563.9 State-Local Tax Burden Rate (%): 8.2 Compared to Nat’l Avg. (9.9%): -1.68

Key Metrics

State GDP

% Growth ’10-’11: 3.3
% Growth ’10-’11 v. Nat’l Avg. (1.5%): 1.8

Unemployment

Unemployment Rate Dec. 2012 %: 6.2
Comparison with Nat’l Rate (7.80%): -1.6

Domestic Migration

Domestic Net Migration ’10-’11: 145,315
Rank: 1

State Government

Debt per Capita Fiscal Year ’10 ($): 1,679
State & Local Gov’t Employees per 10k Residents: 563.9

State-Local Tax Burden

Rate (%): 8.2
Compared to Nat’l Avg. (9.9%): -1.68

Key Companies
ExxonMobil Corp. AT&T Inc. Dell Inc. ConocoPhillips AMR Corp. Fluor Halliburton Southwest Airlines

Development Trend Indicator: Positive
Amazingly, the Lone Star State hasn’t let up and keeps building on its lead.

CEO Comments
“States like Texas… are consistently trying to help us grow our business and are listening to the leaders of companies to help solve problems.” “We moved the bulk of our manufacturing and engineering operations to Austin and have been very pleased with the results.” “Texas has it ‘right’ on all fronts.” “A number of my friends do business in both California and Texas. Their experiences are causing them to move as much of their operations to Texas as they can. I only invest in California if I have to!” “Glad to become part of the great “TEXodus” and moved from CA to TX—been really terrific for us.” “Texas is probably the most business friendly state I’ve ever been in and supports the efforts of new and existing businesses.” “The regulatory and tax environment in Texas makes it my first pick.” “Texas still stands head and shoulders above others in their business climate, employee work ethics and living environment.” “Texas is the clear leader because of taxes and pro-business attitudes.” “Texas is somewhat overrated due to the legal climate and overall psychology of entitlement.” “Texas, Colorado and Indiana are certainly doing the things in tax and infrastructure to be attrative to business.” “Texas is wonderful biz environment. Friendly, well-educated, motivated workers. Great tax base and very good educational system.” “Texas has done the most to attract business. Not only taxation, but laws to limit legal liability.” “Texas is consistently, and vastly, over-rated by most surveys. The quality of workforce and living environment are inferior to many other states.” “Texas is the best place to do business, recruit talent, every metric, hands down. New Mexico is our home state and they try but it just has not yet happened like in Florida, Nevada and Texas.” “Texas is best by far. No other state is even close.”

CEO Comments

“States like Texas… are consistently trying to help us grow our business and are listening to the leaders of companies to help solve problems.”

“We moved the bulk of our manufacturing and engineering operations to Austin and have been very pleased with the results.”

“Texas has it ‘right’ on all fronts.”

“A number of my friends do business in both California and Texas. Their experiences are causing them to move as much of their operations to Texas as they can. I only invest in California if I have to!”

“Glad to become part of the great “TEXodus” and moved from CA to TX—been really terrific for us.”

“Texas is probably the most business friendly state I’ve ever been in and supports the efforts of new and existing businesses.”

“The regulatory and tax environment in Texas makes it my first pick.”

“Texas still stands head and shoulders above others in their business climate, employee work ethics and living environment.”

“Texas is the clear leader because of taxes and pro-business attitudes.”

“Texas is somewhat overrated due to the legal climate and overall psychology of entitlement.”

“Texas, Colorado and Indiana are certainly doing the things in tax and infrastructure to be attrative to business.”

“Texas is wonderful biz environment. Friendly, well-educated, motivated workers. Great tax base and very good educational system.”

“Texas has done the most to attract business. Not only taxation, but laws to limit legal liability.”

“Texas is consistently, and vastly, over-rated by most surveys. The quality of workforce and living environment are inferior to many other states.”

“Texas is the best place to do business, recruit talent, every metric, hands down. New Mexico is our home state and they try but it just has not yet happened like in Florida, Nevada and Texas.”

“Texas is best by far. No other state is even close.”

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

Next State: #2 Florida

J.P. Donlon

J.P. Donlon is Editor Emeritus of Chief Executive magazine.