#1 Texas
#23 in Taxation and Regulation
#10 in Workforce Quality
#48 in Living Environment
Right to Work? ✓
#4 North Carolina
Economic Development Contact:
Main industries in the state:
Largest companies in the state:
#1 Texas
Regional Profile
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| Texas |
Key Companies
Advanced Manufacturing, Aviation, Biotech, Chemicals Products, Energy
Key Contacts
Economic Development & Tourism
Tracye McDaniel, President & CEO<
512-936-0100
221 East 11th Street, 4th Floor
tracye@txedc.org
https://texaswideopenforbusiness.com/
Advantages
The high-speed rail project could be one step closer to reality after winning the Urban Land Institute’s “Next Big Idea” award.
Texas has no corporate or individual income tax.
Challenges
So far, $105 million in capital has been raised, according to the Dallas Business Journal, and there won’t be a ribbion cutting until all $12 billion needed is secured.
Texas imposes gross receipts taxes instead of corporate income taxes. Gross receipts taxes are thought to be more economically harmful than corporate income taxes, according to the Tax Foundation.
CEO Comments
“We recently relocated the majority of our CT office to TX because of the extreme difficulty of doing business in the state.”
“Texas has their act together, their gov’t workers go out of there way to assist businesses to comply and follow the laws.”
“The taxation and regulatory environment is business friendly and allows a small business owner to make ends meet without having to indenture.”
