#1 Texas


#6 in Taxation and Regulation

#5 in Workforce Quality

#10 in Living Environment

Right to Work?

Regional Profile – Southwest

STATE
OVERALL REGIONAL RANK
TAXATION & REGULATION REGIONAL RANK
WORKFORCE QUALITY REGIONAL RANK
LIVING ENVIRONMENT REGIONAL RANK
Arizona
2
2
2
2
Arkansas
4
4
4
3
New Mexico
5
5
5
5
Oklahoma
3
3
3
4
Texas
1
1
1
1

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.”

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No 1: Texas

No. 1

Texas

Taxation and Regulations
Workforce Quality
Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
Taxation and Regulations 
  • State Corporate Income Tax Rate: None
  • Highest Personal Income Tax Rate: None
Workforce Quality
  • % with High School diploma or more: 79.6
  • % with Bachelor’s degree or more: 25.3
  • % with Advanced degree or more: 8.3
  • Patents per 100K: 30.45
  • % of Employed Represented by Unions: 6.7
Quality of Life
  • Hopsitals per 10K: 0.181
  • Elementary/Secondary Schools per 1000 people: 0.355
  • Violent Crimes per 100K: 489.78
Key Companies
  • ExxonMobil Corp.
  • AT&T Inc.
  • Dell Inc.
  • ConocoPhillips
  • AMR Corp.
  • Fluor
  • Halliburton
  • Southwest Airlines
Other Highlights
  • Texas took the top spot in 2009 and 2010
  • Texas ranks 49th in state debt per capita with $1240

Sources:
TaxFoundation.org
Statemaster.com
Bureau of Labor Statistics
U.S. Census Bureau
U.S. Patent and Trademark Office
The National Center for Public Policy and Higher Education