Last week, we were thrilled – though not surprised – to see the news that Texas secured the prestigious Governor’s Cup from Site Selection Magazine for an unprecedented 12th year in a row, in addition to being deemed the best business climate nationwide last November. This exciting achievement underscores Texas’ steadfast commitment to cultivating an environment where job creators want to relocate, expand, and continue to thrive.
In 2023, Texas boasted an astounding 1,254 total projects – more than twice the number of Illinois, which took second place with 552. According to the Associated General Contractors of America (AGC), Texas also had the largest increase in construction jobs last year – adding 32,800, or 4.3% more than it added in 2022 – demonstrating how the continued building of our state’s economic engine continues to increase exponentially.
Put simply: it’s not even close – Texas is the undisputed heavyweight champion of job creation and economic development.
In an interview with Site Selection, Governor Greg Abbott highlighted the unique array of advantages Texas possesses, saying, “When choosing where to relocate or expand their businesses, more innovative industry leaders find themselves at home in Texas. They recognize the competitive business advantages found only in Texas. Industry-leading CEOs cite our pro-growth economic policies — with no corporate income tax and no personal income tax — along with our strong and growing workforce, easy access to global markets, robust infrastructure, and business-friendly regulations.”
Another quality that sets Texas apart is our firm dedication to supporting businesses of all sizes. As seen in our state’s last legislative session, whether it's through cutting red tape, streamlining regulations, or providing incentives for growth such as the Jobs, Energy, Technology and Innovation Act (JETI), it’s evident that the Lone Star State’s pace mirrors that of the business community.
Furthermore, Texas isn't just committed to attracting new businesses, it's also about nurturing existing ones. In addition to new companies migrating from expensive, overly regulated states, many jobs stem from Texas companies choosing to expand and invest further in our state. As Governor Abbott made clear: “A significant number of these jobs come from our already existing Texas companies, who choose to grow and expand in Texas.”
Our success in cinching the Governor’s Cup once again is a testament to the collaborative efforts of state and local economic development organizations, as well as leaders in our government and across industries. Of particular importance is Governor Abbott’s chief Economic Development officer, Adriana Cruz, who has worked tirelessly to attract new projects and job creators to our state with her unrivalled passion for bringing prosperity to communities across Texas.
As we celebrate this incredible achievement, TAB is proud to reaffirm our dedication to fostering an even stronger and more prosperous Texas—one that remains at the forefront of job creation and economic vitality. Working together, we can uphold Texas’ reputation as the premier destination for business and ensure an enduring legacy of success.
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