Categories: 2014 Best & Worst States

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 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.”

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.