News Summary
Texas has been awarded the title of Best Business Climate for the third consecutive year by Business Facilities. This accolade highlights the state’s favorable economic environment, with factors such as no corporate or personal income tax, a skilled workforce, and strong global market access. Over 1,300 capital investment projects were recorded, and notable companies like Chevron and 84 Lumber have relocated to Texas, drawn by its business-friendly atmosphere. The state also received recognition in workforce training, showcasing its commitment to supporting businesses.
Texas Takes Home the Gold for Best Business Climate Yet Again!
Texas has been ranked as the Best Business Climate for the third consecutive year, according to a recent report released on June 24, 2025, by Business Facilities. This recognition highlights Texas as a prime location for companies looking to relocate or expand operations, contributing to the state’s growing reputation as a thriving business hub.
The Inside Scoop: What’s Behind the Rankings
The annual Business Facilities report evaluates over 60 critical categories related to corporate relocation and expansion, focusing heavily on economic development metrics such as capital investments and job creation from the prior year. In 2024, Texas reported over 1,300 qualified capital investment projects, showcasing the significant business activities taking place within the state.
Big Names Are Moving to Texas
More than 20 well-known companies, including Chevron, 84 Lumber, Thoughtful Automation, and Diversified, announced their relocation to Texas last year. Attracting such prestigious names underscores the state’s compelling business-friendly environment and the abundance of opportunities available to firms across various sectors.
What Makes Texas a Business Magnet?
Several key factors contribute to Texas’s appeal as a business destination. Notably, no corporate or personal income tax in Texas serves as a significant incentive for many businesses aiming to maximize their profits. The state also boasts a skilled and diverse workforce, ensuring companies have access to the talent needed to compete effectively in the market.
Additionally, Texas benefits from excellent global market access, robust infrastructure, and a reasonable regulatory environment, which combine to create an ideal setting for businesses of all sizes. While Texas leads the way, states such as Virginia, North Carolina, Florida, and Tennessee are also recognized in the Best Business Climate rankings, reflecting the broader competition among states for attracting business investment.
Virginia’s Workforce Program Shines Bright
In the midst of this competition, Virginia excelled in the Customized Workforce Training category, earning the top honors for the third year running. The Virginia Talent Accelerator Program has successfully generated over 17,000 jobs since its inception in 2019 by offering specialized workforce training tailored to the needs of various companies, thereby ensuring a well-prepared labor supply.
Texas also gained recognition in the Customized Workforce Training category alongside other states including Louisiana, Alabama, and Missouri, demonstrating Texas’s commitment to maintaining a highly trained workforce ready to accommodate the evolving demands of the economy.
What’s Next?
The comprehensive findings of the Business Facilities report will be detailed in the forthcoming July/August issue. As Texas remains a frontrunner in fostering a welcoming business climate, it continues to enhance its attractiveness to business leaders and entrepreneurs. With a favorable tax structure, a capable workforce, and a nurturing investment landscape, Texas is actively laying the groundwork for future economic development and opportunities.
Whether you are a business owner contemplating a move or an individual interested in economic trends, Texas remains a state to watch closely as it steadfastly positions itself for continued growth and success.
Deeper Dive: News & Info About This Topic
- My Paris Texas: Texas Named Best Business Climate in Nation for Third Year in a Row
- Business.com: Why Start a Business in Texas
- Dallas News: Texas Has the Best Business Climate in the Country
- Wikipedia: Economy of Texas
- Business Facilities: Texas Claims Top State Business Climate for 2024
- Google Search: Texas Business Climate
Author: STAFF HERE AUSTIN WRITER
The AUSTIN STAFF WRITER represents the experienced team at HEREAustinTX.com, your go-to source for actionable local news and information in Austin, Travis County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as SXSW, Austin City Limits Music Festival, Formula 1 United States Grand Prix, and the Austin Film Festival. Our coverage extends to key organizations like the Greater Austin Chamber of Commerce and Visit Austin, plus leading businesses in technology, automotive, and retail that power the local economy such as Dell Technologies, Tesla, and Apple. As part of the broader HERE network, including HERECollegeStation.com, HEREDallas.com, HEREHouston.com, and HERESanAntonio.com, we provide comprehensive, credible insights into Texas's dynamic landscape.
