Texas Is the Best State for Business 2014

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


Chief Executive

Chief Executive magazine (published since 1977) is the definitive source that CEOs turn to for insight and ideas that help increase their effectiveness and grow their business. Chief Executive Group also produces e-newsletters and online content at chiefexecutive.net and manages Chief Executive Network and other executive peer groups, as well as conferences and roundtables that enable top corporate officers to discuss key subjects and share their experiences within a community of peers. Chief Executive facilitates the annual “CEO of the Year,” a prestigious honor bestowed upon an outstanding corporate leader, nominated and selected by a group of peers, and is known throughout the U.S. and elsewhere for its annual ranking of Best & Worst States for Business. Visit www.chiefexecutive.net for more information.

Share
Published by
Chief Executive

Recent Posts

‘A Good Time To Speak Up For Business’: The 2025 CEO Of The Year Celebration

Chief Executive Group CEO Marshall Cooper opens the 40th annual celebration, this year honoring Lilly’s…

15 hours ago

NewsNation’s Leland Vittert: ‘Always Be Yourself’

News anchor Leland Vittert’s path from nonverbal autism to grilling presidents wasn’t built on charisma…

17 hours ago

Most Private Companies Now Use LTIs—Here’s How To Get Yours Right

Amid rising retention risks, private companies are taking a page out of public companies’ playbook…

20 hours ago

CEO Of The Year: A Conversation With Eli Lilly’s Dave Ricks

Ricks isn’t just building the most valuable drug company in history—he’s trying to change what…

3 days ago

Royal Caribbean Chairman Richard Fain: Retaining Talent Is About Fit, Not Fitness

The difference between 'useless' and 'fantastic' isn't always performance—sometimes it comes down to chemistry.

3 days ago

Beyond Vision: Why Systems Design Is The CEO’s Core Responsibility

CEOs can create the invisible architecture that sustains purpose, drives enduring value and enables their…

3 days ago