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 has been recognized as the top state for business climate for the third consecutive year, according to the recently released 2025 Annual Rankings Report by Business Facilities. This report, published on June 24, 2025, evaluates states across over 60 categories that are vital for corporate relocation and expansion, highlighting Texas’s continued leadership in providing a favorable environment for businesses.
The Best Business Climate ranking takes into account various economic development activities, including capital investment projects and job creation from the previous year. Texas reported over 1,300 qualified capital investment projects in 2024, which contributed significantly to its top-ranking position.
In 2024, more than 20 companies, including major corporations such as Chevron, 84 Lumber, Thoughtful Automation, and Diversified, announced their plans to relocate to Texas, further solidifying the state’s reputation as a business-friendly environment.
Texas Governor Greg Abbott highlighted the state’s unique advantages, which include the absence of a corporate or personal income tax, a skilled and diverse workforce, access to global markets, a robust infrastructure, and a reasonable regulatory environment. These factors collectively create an appealing landscape for businesses considering relocation or expansion.
While Texas maintained its dominance in the Best Business Climate category, other states also showcased strong performances. Virginia, North Carolina, Florida, Tennessee, Georgia, Indiana, Utah, Arizona, and South Carolina were recognized in the same category, demonstrating competitive business climates nationwide.
Virginia, in particular, stood out by securing the top spot in the Customized Workforce Training category for the third year in a row. This accolade reflects the effectiveness of its Virginia Talent Accelerator Program, which has successfully created over 17,000 jobs across the state since its launch in 2019. The program is designed to provide customized workforce training for companies, with notable beneficiaries including Microporous, Micron Technology, Kongsberg Defence & Aerospace, and Super Radiator Coils.
In addition to Virginia, states like Louisiana, Alabama, Texas, and Missouri were acknowledged for their excellence in providing customized workforce training, emphasizing the importance of skilled labor in today’s economy.
The findings of the 2025 Annual Rankings Report are set to be published in the upcoming July/August 2025 issue of Business Facilities, which is a media brand that specializes in site selection. Its target audience consists of C-level executives and economic development agencies, making the report an essential resource for those involved in business expansion decisions.
The recognition received by Texas and Virginia underscores the pivotal role of business climate and workforce development in attracting and retaining corporations. As states compete to improve their economic landscapes, the focus remains on fostering environments that stimulate growth and opportunity for both businesses and workers alike.
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 GEORGETOWN
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