Why Texas? With the eighth largest economy compared to the nations of the world and the best business climate in America, Texas offers unmatched competitive advantages for businesses seeking the freedom to succeed:
• A business-friendly climate,
• No corporate or personal income tax,
• A young, skilled, diverse and growing workforce,
• Easy access to global markets,
• Robust infrastructure,
• Diverse industries and a thriving innovation ecosystem, and
• A reasonable, predictable regulatory environment.
It is easy to understand why more businesses from across the country and around the world are choosing to call Texas home.
Texas is the Headquarters of Headquarters
Texas is proud to welcome more businesses each day seeking to relocate and incorporate in a great state. Since 2015, the state has gained well over 300 corporate headquarters.
They are in good company as they join some of the world’s biggest brands, 52 Fortune 500 corporate headquarters, one in 10 publicly traded companies in the U.S. and more than 3.3 million small businesses and startups.
Texas Moves at the Speed of Business
Texas has ranked as the best state for business for 20 years in a row — and counting — and leads the nation in job creation.
To ensure Texas continues to move at the speed of business, the state has recently launched:
• The Texas Business Courts — Statewide, specialized trial courts created to resolve complex business disputes, presided over by judges with judicial or litigation experience in commercial matters, and
• The Governor’s Small Business Freedom Council to cut unnecessary government regulations that impede business formation and growth.
Texas wants businesses to succeed. When the state’s businesses succeed, Texas succeeds.
The Workforce of Tomorrow is in Texas Today
Texas has dominated the nation for population growth over the last two decades, attracting the best and brightest talent. With a younger and faster growing population than the nation, Texas is also the “stickiest” state: 82 percent of Texans born in the state stay in the state.
As a result, Lone Star State’s labor force is the largest ever in Texas history — larger, in fact, than 46 states’ populations.
Much of Texas’ job-ready workforce is drawn from the state’s top-ranked colleges and universities. Texas leads the nation with 16 Carnegie Tier One research universities and is a top state for biotech, engineering and electrical engineering doctorates. Each year, more than four million Texans participate in upskilling and training programs through the Texas workforce development system.
Texas’ greatest natural resource is the people of the Lone Star State, and they are the number one reason businesses locate in Texas.
Diverse Industries Drive a Dynamic Texas Economy
Texas has a strong, diversified economy, with a variety of industry hubs. Target industry sectors driving growth and creating jobs in Texas include:
• Advanced Manufacturing ‒ including automotive, aerospace and defense and semiconductors,
• Corporate operations,
• Energy ‒ from a deep history in oil and gas to innovative new energy technologies of tomorrow,
• Food processing,
• Information technology, AI and data centers,
• Life sciences and biotechnology,
• Petroleum refining and chemicals,
• Rare earth elements and mineral mining, and
• Transportation and logistics.
By cultivating a thriving innovation ecosystem in regions across the state, supporting emerging and advanced industries and harnessing public-private partnerships, Texas is driving even greater opportunities for business and industry expansion.
Thriving Regions Across Texas Meet Diverse Industry Needs
To approach economic development in Texas with a one-size-fits-all strategy would overlook what makes the Lone Star State special: the diversity of land, people, natural resources and businesses. Texas succeeds if and only if all its regions are thriving.
Across all 268,000 square miles of the state each region in Texas offers unique strengths and opportunities. Texas’ community-driven approach to economic development is fundamental to its ability to remain agile and develop strategic resources that best support hardworking Texans and innovative Texas businesses.
Texas’ Robust Infrastructure Offers Unmatched Global Access
Texas is the gateway to global trade for the nation. Texas’ central location in North America and its robust infrastructure and transportation networks provide timely access to domestic and global markets via air, land and sea. With 23 seaports, including 12 deepwater ports, Texas is built for global trade. The Port of Laredo is the number one port in the nation, and the largest Gulf Coast container port, the Port of Houston, leads the nation in waterborne trade.
Add to that more miles of public roadways, state highways, freight railways, airports and Foreign Trade Zones than any other state, it’s no surprise that Texas has led the nation in exports for more than the last two decades.
To secure an even stronger Texas of tomorrow, the state is making historic investments in new roadway projects, port development projects, dispatchable electric generating facilities, expanded water access and broadband technologies.
Texas offers global access with lower operating costs, lower energy costs and lower land costs plus fewer land-use restrictions.
Texas Offers Something for Everyone
Texas’ rich blending of cultures and friendly people ensures the state offers something for everyone seeking the opportunity to aspire and thrive. A key advantage that attracts both companies and people to the Lone Star State is an exceptional quality of life, coupled with a comparatively lower cost of living.
Across this vast state, residents can find dynamic cultural and recreational opportunities scattered among breathtaking natural landscapes. The state offers the best of city and country lifestyles with each place presenting a unique Texas flavor. Home to hundreds of barbecue restaurants, wineries, live music venues and museums, Texas is full of memorable experiences and is truly the best place to live, work and play.
Big Economic Development Wins in Texas Fuel the Future of America
Photo provided by Bell, Fort Worth, Future Long Range Assault Aircraft
Texas leads all states for attracting the most corporate relocation and expansion projects. Among recent announcements:
• Bell Textron announced a new aircraft manufacturing center in Fort Worth to support the U.S. Army’s Future Long Range Assault Aircraft program, a $429 million capital investment.
• Eastman announced a new specialty materials manufacturing facility in Longview, a $1.2 billion capital investment.
• Graphic Packaging International opened a new manufacturing facility in Waco, a $1 billion capital investment.
• IntelliEPI announced a new wafer production facility in Allen, a $41 million capital investment that will nearly triple the company’s annual wafer production.
• JSW Steel announced an expansion of its manufacturing facility in Baytown, a $110 million capital investment
• SeAH Group announced a metal manufacturing facility in Temple, a $110 million capital investment.
• Stargate Project, a joint venture by OpenAI, Oracle and others, announced new data centers to support AI with the first location in Abilene, a potential $500 billion capital investment for the entire Stargate Project.
• Summit Next Gen announced a new world-class sustainable aviation fuel manufacturing and refining facility along the Texas Gulf Coast, a $1.6 billion capital investment.
• Toyota Texas announced a new advanced manufacturing facility in San Antonio, a $531 million investment.
• US Foods announced an expansion of its food distribution and warehousing facility in Buda, a $120 million capital investment.
• Walmart announced a new milk processing facility in Robinson, a $350 million capital investment.
Discover The Future of Business in Texas
Texas welcomes businesses to join the state as it builds an even stronger Texas for all. Visit the Texas Economic Development & Tourism Office at gov.texas.gov/business or the Texas Economic Development Corporation at businessintexas.com. T&ID