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Texas is Named the Top State for Doing Business for the Second Year in a Row by Location Consultants

Everyone knows it's tough to topple Texas - the Lone Star State ranked first last year in this survey and, with more than 200 mentions, is again the Top State for Doing Business. Texas has a diverse economy, skilled work force, no corporate or personal income taxes, and a state government that is committed to tort reform and economic development.

Area Development Magazine Special Presentation (Fall 2012)
Top States for Doing Business Full Results: 2012 Top States for
Doing Business Survey
»

OVERALL RANKINGS
2012

1.  Texas
2.  South Carolina
3.  Georgia
4.  Alabama
5.  North Carolina
6.  Louisiana
7.  Tennessee
8.  Indiana
9.  Mississippi
10.  Oklahoma

2011

1.  Texas
2.  Georgia
3.  Alabama
4.  South Carolina
5.  Indiana
6.  Louisiana
7.  North Carolina
8.  Tennessee
9.  Mississippi
10.  California

2010

1.  Tennessee
2.  Texas
3.  South Carolina
4.  Alabama
5.  Georgia
6.  Indiana
7.  Mississippi
8.  North Carolina
9.  Virginia
10.  Oklahoma

CONSULTANTS COMMENTARY
Winning States Offer Low Taxes, Generous Incentives, and Fewer Regulations
Eric Stavriotis, Senior Vice President, Strategic Consulting, Jones Lang LaSalle
States With Deep Pools of Skilled Workers Come Out on Top
Scott Redabaugh, Managing Director, Jones Lang LaSalle
More than 222,000 new private-sector jobs were added over the last year, reflecting two years of solid job growth.

Consultant voting also placed Texas first for its overall business environment, including its cost of doing business, corporate tax environment, incentives programs, speed of permitting, and access to capital and project funding. Its top ranking for incentives programs is a tribute to its Texas Enterprise Fund (TEF), a "deal-closing" fund that helps secure big job-creating projects for which locations in other states are also competing. This program has invested almost $500 million to bring new projects to Texas, which represent about 63,000 jobs and more than $20 million in capital investment. Recently TEF awarded $1.9 million to HID Global Corporation, an identity protection firm, to build a new manufacturing facility and distribution center in Austin.

There is also the Texas Emerging Technology Fund (TETF), which has invested about $200 million to fund nearly 150 early-stage companies that represent emerging industries such as alternative energy, IT, and electronics. For example, the TETF recently awarded $250,000 to Rebellion Photonics to manufacture an innovative leak-detection device for the chemical/petrochemical industries and will provide up to $2 million to Vapogenix to develop non-opioid analgesics for pain management during minor surgical procedures.

"Texas continues to compete for - and win - new expansion projects and relocations from some of the most notable names in the most notable industries in the world," says Governor Rick Perry. "These include Caterpillar, the world's largest producer of construction and mining equipment; Toyota, which has greatly increased its presence in San Antonio; and Samsung, which has invested billions in expanding its semiconductor facility in Austin." These and other key industries such as advanced manufacturing and technology, aerospace and defense, biotechnology and life sciences, information and computer technology, petroleum refining, and energy continue to attract strong foreign direct investment - which is why Governor Perry received fDi magazine's inaugural 2012 Governor's Award. The award is given to the governor most successful in attracting new business investments to his or her state.

"I am proud of our state's accomplishments and honored to receive this award," says Governor Perry. "I will remain committed to upholding principles, like low taxes, restrained spending, reasonable spending, and a fair legal system."
Article Discussion
Top States for Doing Business
Sponsor Location Profiles

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