We’re proud to be headquartered in the Lone Star State and we bet you are, too. In 2013, Texas has been named a top state for business by CNBC, Chief Executive Magazine, and several other national organizations.
Perhaps Forbes put it best this past summer when it published, “The real allure for businesses…is not for what the Lone Star State offers, but rather for what it does not offer. Texas doesn’t tax your personal income. Texas doesn’t slap you with perverse work rules or cumbersome regulations. Texas does not purport to be something that it is not. The Lone Star economy speaks best when you forget the spin and simply follow the facts.”
We certainly can’t argue; can you? Whether you’re based in Austin, Beaumont, Fort Worth, El Paso, or anywhere in between, here are our top seven reasons Texas is where business thrives.
- We work. Texas continues to beat the national average on unemployment. In August, Texas came in at an impressive 6.4 percent unemployment, compared to the national average of 7.3 percent.
- Our workers’ comp comes with choices. Texas is among only a few states in which employers may choose to maintain workers’ compensation insurance and can either purchase it through a private insurance company or, if they meet state requirements, self-insure.
- We’re polite. In a study by data group Marchex, Texas was named one of the most polite states in the country, ranking low on cursing and high on courtesy. You better believe this pays off when it comes to recruiting and retention of top talent, thank you very much.
- We don’t tax income. With no corporate or individual income tax, Texas is a great place to earn (and keep) a living for both employers and employees. Area Development Magazine credits this fact as a major reason 33 percent of the nation’s net job gains over the past decade have come from Texas.
- Our weather’s not an issue. The National Center for Atmospheric Research (NCAR) found that routine weather events such as rain, snow and ice can add up to an annual economic impact of as much as $485 billion in the United States. With such mild weather in Texas, employee snow days are not an issue.
- We get things moving. Texas is the top state when it comes to exports. The Houston-Sugar Land-Baytown area alone exported $110.3 billion in goods last year.
- We’re charged up. Texas is the only state with its own power grid. And don’t forget our energy resources: We produce 4.8 million barrels of crude oil daily and lead the nation in installed wind capacity.
For a closer look at Texas’ thriving business environment, access our source — the Texas Wide Open for Business publication The Texas Advantage here— for many of the statistics above.
Main image credit: michaklootwijk / 123RF Stock Photo
Data charts courtesy of www.texaswideopenforbusiness.com