Bigger. Better. Texas. | Trade and Industry Development

Bigger. Better. Texas.

Mar 19, 2024 | By: The State of Texas

Best for Business
Texas is proud to be named the Best State for Business — a title we have held for 19 years in a row. This is in addition to numerous recognitions as the Best Business Climate in the U.S., including three number one rankings last year alone.

As the eighth-largest economy in the world, Texas offers boundless economic opportunity for companies of all sizes and industries, and continues to attract corporate relocations and expansion projects from across the country and around the globe.

Texas is well-known for its pro-business environment and pro-growth attitude, proven by statewide economic development priorities and success driven at the local and regional levels.

Texas moves at the speed of business. By cutting red tape and removing burdensome regulations, the state enables businesses to invest more quickly in our communities and create new jobs for hardworking Texans.

The winning formula in Texas is simple: Officials strive to ensure that businesses have the tools they need to succeed. Because when businesses succeed, all Texans succeed.

Best for Talent

Texas is the economic powerhouse of the nation, offering boundless opportunity for companies that choose to do business here. Photo provided by Nasdaq
Texas is the economic powerhouse of the nation, offering boundless opportunity for companies that choose to do business here. Photo provided by Nasdaq

With the largest population growth in the U.S. for the past 18 years in a row, Texas continues to be a talent magnet and offers a job-ready workforce across every region of the state.

The Texas workforce is young, highly skilled, diverse and growing, and is now at a historic high of more than 15.2 million Texans. Texas is younger and growing faster than the nation as a whole. Not to mention, it is the “stickiest” state, retaining more than 82 percent of people born here.

Texas churns out top talent through an extensive network of higher education institutions, including seven public university systems, 37 public four-year universities and top-ranked universities for business, engineering, research and more.

The state’s leadership is focused on continuing to invest in the workforce, offering innovative programs through the Texas Workforce Investment Council, the Texas Workforce Commission and other state and local workforce development partners. In fact, more than 4.2 million Texans participated in workforce development training programs in 2022.

Thanks to an exceptional quality of life and comparatively lower cost of living, Texas continues to be a top destination for those relocating from other states. Not only is Texas the best place for companies to find talent to meet all their needs, but it is the best place for people to live, work and raise a family.

Best for Headquarters
More and more companies are finding themselves right at home in the Lone Star State, and Texas welcomes the long list of firms that are relocating from other high-cost, over-regulated regions.

Fueled by one of the lowest business operating costs in the nation, coupled with a reasonable regulatory environment, central geographic location and readily available workforce, Texas is a leading state for corporate headquarters relocations and expansions.

Texas is home to 55 Fortune 500 corporate headquarters, more than any other state in the nation. This is in addition to hundreds of publicly traded firms and 3.2 million small businesses — and growing.

Under Governor Greg Abbott’s leadership, Texas has attracted more than 290 headquarters relocations to the state; these companies are expected to create more than 6,490 new jobs in local communities. More than half of these corporate relocations are from California.

Fortune 500 companies across a variety of industries, such as CBRE Group, Oracle, Tesla, AECOM, Hewlett Packard Enterprise, McKesson and Charles Schwab, have all shifted their own head offices from California to Texas.

Other select recent headquarters relocations and expansions include:

• Acquire BPO, an Australia-based global outsourcer, opened its U.S. headquarters in Irving with expectations to make at least 130 new hires.

• Assa Abloy, a Swedish firm specializing in advanced security technology, announced the relocation of its North American headquarters to Plano.

• Cacique Foods announced its relocation to Amarillo from California after opening a new dairy processing facility in Amarillo in early 2023.

• CharterUp announced it was moving its headquarters from Georgia to Austin, with plans to add 100 employees.

• Coast Southwest, a chemical distribution company, announced the official opening of its new corporate headquarters in Irving.

• Engaged Media Studios, Inc. (EMS) completed its relocation from Louisiana to new headquarters offices in Houston.

• Frontier Communications relocated its headquarters from Connecticut to Dallas, with plans to bring thousands of jobs to the area over the next 10 years.

• Graze, Inc., a robotics and animation company, relocated its U.S. headquarters and R&D center from California to Plano.

• Groupo Bafar announced the relocation of its North Amercan Headquarters to El Paso, investing $22 million in capital expenditure and creating 120 new jobs.

• Inbenta Holdings Inc., a California-based international artificial intelligence firm, will relocate its headquarters to Allen.

• MSS International, a supplier of gas sensors and piping to Samsung, selected Round Rock for the location of its new U.S. headquarters.

• QuickFee, a California financial tech firm, relocated its North American headquarters to Plano.

• Ruiz Foods, the country’s largest frozen Mexican food manufacturer, announced it would relocate from California to Frisco.

• Thermomix, a connected kitchen appliance maker, relocated its corporate headquarters from California to Dallas.

Best for Real Estate & Retail
With ample space and affordable real estate, Texas offers companies room to grow. As a leading state for commercial real estate development, Texas is well-equipped with capacity to meet the needs of any incoming or growing business. In fact, commercial real estate investors ranked Dallas-Fort Worth and Austin as the top two markets in the U.S. for investment, according to a 2023 report from CBRE.

Across the Lone Star State, there is continuing investment in the retail industry as companies choose Texas for expanded manufacturing, supply chain and distribution facilities.

Other recent announcements in the retail space include Igloo Coolers’ expansion in Brookshire with a new distribution center, McMaster-Carr Supply Co.’s new $180 million regional headquarters in Fort Worth, and Daiso’s newest U.S. distribution center in DeSoto, plus countless others.

Best for Success

Texas truly is the best place to live, work and raise a family, attracting people from across the nation and around the world to take advantage of an enviable quality of life. Photo provided by Nasdaq Travel Texas
Texas truly is the best place to live, work and raise a family, attracting people from across the nation and around the world to take advantage of an enviable quality of life. Photo provided by Nasdaq Travel Texas

Texas and its economic development leaders are focused on making strategic investments to ensure the state remains the best place for business in the country.

This is evidenced by ongoing investments in infrastructure, education and workforce development, coupled with new economic development incentive tools which will allow Texas to continue to attract more and more innovative industry leaders.

The new Texas Jobs, Energy, Technology & Innovation (JETI) Act, signed into law by Governor Abbott during the 88th Regular Legislative Session, is a new competitive economic incentive program to attract large, capital-intensive economic development projects, bringing new investment and creating new, good-paying jobs in Texas communities.

Also passed this last year, the Texas CHIPS Act creates the Texas Semiconductor Innovation Consortium (TSIC) and the Texas Semiconductor Innovation Fund (TSIF) to leverage Texas’ investments in the semiconductor industry, encouraging semiconductor-related companies to expand in the state, further develop the expertise and capacity of Texas institutions of higher education and maintain the state’s position as the nation’s leader in semiconductor manufacturing.

Other new programs include the creation of the Texas Space Commission and the Texas Aerospace Research & Space Economy Consortium, the Texas Small & Rural Community Success Fund Program, specialty business courts and more.

These initiatives show that Texas is focused on maintaining the competitive advantages while ensuring that communities have the tools they need to succeed, and businesses have the foundation they need to thrive well into the future.

As the number one jobs creator in the nation — with the best workforce, the best business climate and an exceptional quality of life — Texas is the best place for business and talent to find success. Come find out how Texas can work for you and your business!

Visit the Texas Economic Development & Tourism website at and the Texas Economic Development Corporation website at for more information. T&ID


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