Doing Business Survey »
2. South Carolina
5. North Carolina
4. South Carolina
7. North Carolina
3. South Carolina
8. North Carolina
Eric Stavriotis, Senior Vice President, Strategic Consulting, Jones Lang LaSalle
Scott Redabaugh, Managing Director, Jones Lang LaSalle
Dan Levine, Pricipal, MetroCompare LLC
Kathy Mussio, Managing Partner, Atlas Insight
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."