On November 1, 2023, Texas Governor Greg Abbott proudly announced that Texas had been named the Top Business Climate in the nation by Site Selection Magazine. This marks the third national best business climate ranking for Texas this year, with previous awards in June and September.
During a press conference at the Governor's Mansion in Austin, Governor Abbott expressed his gratitude and celebrated the achievement, stating, "Today, we celebrate another victory for Texas—this time with Texas listed as the No. 1 business climate in the United States of America. This is the first time we've won this award from Site Selection since 2011. All of this is a testament to the exceptional economic development professionals and chambers of commerce in Texas. Texas is America's economic juggernaut, and we are now the eighth-largest economy in the entire world."
The Governor attributed Texas' success to factors such as cutting red tape, lower taxes, and having the best workforce in the United States. He emphasized that the Texas economy benefits all Texans and thanked the hardworking people of Texas for making the award possible.
Governor Abbott was joined by Site Selection Magazine Editor-in-Chief Mark Arend, Texas Secretary of State Jane Nelson, Senators Kelly Hancock, Bryan Hughes, and Kevin Sparks, Texas Economic Development & Tourism Executive Director Adriana Cruz, and other state officials, as well as local economic development and business leaders.
Editor-in-Chief Arend commended Texas for winning Site Selection's Governor's Cup earlier in the year and highlighted the state's ability to attract businesses, saying, "Texas, for the second time in 2023, is demonstrating that it has in place what businesses look for most when expanding or relocating."
Site Selection's annual Top Business Climate ranking considers various factors, including a survey of corporate real estate executives and site selectors. Texas' No. 1 ranking is attributed to the state's unmatched business climate with no corporate or personal income taxes, a young and diverse workforce, robust infrastructure, and a focus on innovation with a strong startup ecosystem.
Governor Abbott had previously accepted Site Selection Magazine's Governor's Cup in March for the 11th consecutive win, making Texas the top-performing state for job-creating business relocations and expansions. In April, he also celebrated being named the Best State for Business for a record-shattering 19th straight year by the nation's leading CEOs.