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TEXAS The Top State In U.S. For Doing Business

by admin on May 15, 2012

More than 500 CEOs considered a wide range of criteria, from taxation and regulation to workforce quality and living environment, in our annual ranking of the best states for business. The charts and articles in this special report show how each state fares on the factors most essential for a business-friendly environment—as well as what states are doing to attract and retain companies in the increasingly competitive battle to win site selection.

While the Lone Star State may not be perfect—many leaders would like to see improvements in its education system—it is Periclean Athens compared to California in the eyes of the 550 CEOs surveyed forChief Executive‘s seventh annual report on the best and worst states in which to do business. It’s the seventh time in seven years running that Texas has led the states, and the seventh year California—to no one’s great surprise—ranked as worst state.

Texas has consistently held the No. 1 position since 2005. It gets strong marks in all areas important for business creation, and has the second-lowest taxes in the nation. The state has created more jobs than any other—about 250,000 last year. Not surprisingly, it also enjoys the highest inward net migration rate of any state. As a result, Texas gained four Congressional seats, Florida picked up two and Arizona, Georgia, Nevada, South Carolina, Utah and Washington each gained one. All have low taxes. Brian Domitrovic, assistant professor of history at Sam Houston State University, identifies a key factor that often goes unnoticed. “Texas offers high labor market flexibility, which is a key element in business creation,” he notes.

On the downside, Texas has also attracted more job seekers over the years, threatening to overwhelm its rate of job creation. The state attracted 4.3 million people over the last decade, the most of any state.

Link to the Article

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