#1 Texas
#6 in Taxation and Regulation
#5 in Workforce Quality
#10 in Living Environment
Right to Work? ✓
Regional Profile – Southwest
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| Texas |
Key Industries
Advanced Manufacturing, Aviation, Biotech, Chemicals Products, Energy
Key Companies
AMR Corp.
AT&T
ConocoPhillips
Dell
ExxonMobil
Fluor
Halliburton
Southwest Airlines
Advantages
The high-speed rail project could be one step closer to reality after winning the Urban Land Institute’s “Next Big Idea” award.
Texas has no corporate or individual income tax.
Challenges
So far, $105 million in capital has been raised for the high-speed rail project, according to the Dallas Business Journal, and there won’t be a ribbon cutting until all $12 billion needed is secured.
Texas imposes gross receipts taxes instead of corporate income taxes. Gross receipts taxes are thought to be more economically harmful than corporate income taxes, according to the Tax Foundation.
Key Contacts
Economic Development & Tourism
Tracye McDaniel, President & CEO
512-936-0100
221 East 11th Street, 4th Floor
Austin, TX 78701
tracye@txedc.org
https://texaswideopenforbusiness.com/
CEO Comments
“We recently relocated the majority of our CT office to TX because of the extreme difficulty of doing business in the state.”
“Texas has their act together, their gov’t workers go out of there way to assist businesses to comply and follow the laws.”
“The taxation and regulatory environment is business friendly and allows a small business owner to make ends meet without having to indenture.”
Current Developments
How Randall Stephenson Took AT&T into the Future of Digital
July 12, 2016
How Culture Creates Competitive Advantage
January 20, 2016
2016 Regional Report: The Southwest
January 13, 2016
Texas: Beyond Black Gold
May 7, 2015
7 Best States for Startups
May 8, 2014
